Binance’s monthly volumes continue to dominate despite 41% fall in July figures

CryptoCompare, a cryptocurrency data provider, launched digital asset exchange review guidelines a while back, a review that ranks exchanges every month. CryptoCompare released its first report in August, revealing the performances of exchanges for the month of July, a month where Binance led the board with a whopping $42.1 billion monthly volume. The data provider […]
The post Binance’s monthly volumes continue to dominate despite 41% fall in July figures appeared first on AMBCrypto.
Source: AMB Crypto

FATF Pressures OKEx to Delist Monero, Zcash, Dash; Litecoin Next?

A guideline issued by the Financial Action Task Force (FATF) is prompting OKEx to delist popular privacy-centering cryptocurrencies.
Travel Rule
The Korean wing of the cryptocurrency firm announced on Monday that it is going to stop trading of Monero, Zcash, Dash, Horizen, and Super Bitcoin on its exchange. All the five assets, in one way or another, allows users to hide their financial transactions by introducing additional layers of security.
OKEx said in a note that the five cryptocurrencies could “violate laws or regulations/policies of government agencies and major agencies.” The exchange was citing FATF, an intergovernmental organization that combats money laundering on a global scale. The task force in October 2018 enforced a so-called ‘travel rule,’ which requires cryptocurrency exchanges to obtain relevant users’ information, including the virtual wallet addresses of senders and receivers involved in a cryptocurrency transaction.
Privacy coins such as Monero and Zcash assists users in hiding those details. That makes it difficult for cryptocurrency firms to monitor and report those transactions to FATF. OKEx said it would delist Monero, Zcash, Dash, Horizen, and Super Bitcoin, merely to keep itself in line of the global watchdog’s directives.

Zcash and blockchain privacy is like selling seatbelts in 1910. Yes they're needed, but no one knows yet.@EranTromer
— Ian Miers (@secparam) September 12, 2019

The move has made OKEx the second exchange to have gone after anonymity-focused coins under regulatory pressure. Earlier in June 2018, way before FATF had imposed the ‘travel rule,’ Japan-based Coincheck had removed Monero, Zcash, and Dash from its exchange after facing pressure from the Financial Services Agency (FSA).
OKEx would disable the privacy coins’ deposits on October 10, 2019. Nevertheless, users will still be able to withdraw their privacy coins to their wallet addresses until December 10, 2019.
Troubles for Litecoin Ahead?
As exchanges operating from FATF member states follow suit and start delisting privacy coin, the move could spell troubles on the world’s fifth-largest cryptocurrency by market cap.
The $4.5 billion cryptoasset Litecoin in August announced that it is going to become a privacy coin. Founder Charlie Lee went ahead and admitted that they are going to introduce “confidential transactions” in a “future release of the the full [litecoin] node” in 2019 – after the online community accused him and core developers of abandoning Litecoin.

11/ I will address the progress on MimbleWimble (MW) and Confidential Transactions (CT). When I announced that I will start working on MW, someone asked me for an ETA. And I responded with should be sometime 2019. https://t.co/nfWd11ThpE
— Charlie Lee [LTC] (@SatoshiLite) August 11, 2019

The announcement kept Litecoin investors happy, as it maintained the coin’s bullish narrative intact. The LTC/USD exchange rate had risen by more than 500 percent between December 2018 and July 2019 – before Lee confirmed the development of  “confidential transactions.” The upsurge majorly came on the shoulders of Litecoin’s halving event, which earlier this year reduce the cryptocurrency’s supply-rate by half.
Litecoin price slipped by more than 50 percent from its YTD high | Image credits: TradingView.com
The LTC/USD pair is now down by more than 50 percent, driven by higher demand for rival asset bitcoin. And as the Litecoin project goes ahead with its plans of becoming an anonymity-focused coin, the likelihood of it being rejected by exchanges operating from FATF’s 39 member states could go higher.
The post FATF Pressures OKEx to Delist Monero, Zcash, Dash; Litecoin Next? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Coinbase May Soon Launch Its Own IEO Platform and a New Token

Coinspeaker
Coinbase May Soon Launch Its Own IEO Platform and a New Token
Coinbase may launch an IEO platform and issue a proprietary exchange token. Such information has been provided by Kayvon Pirestani, Coinbase’s head of institutional sales in Asia, during Invest: Asia conference on Wednesday.
Coinbase May Soon Launch Its Own IEO Platform and a New Token

Continue reading at Coinspeaker
Source: CoinSpeaker

OKEx will List HederaHashgraph (HBAR), a New Generation of Distributed Ledger Technology

Malta, 10 Sep 2019 – OKEx, a world-leading digital asset exchange, announced a new listing of Hedera Token (HBAR), the native cryptocurrency of the Hedera public network, HederaHashgraph – a distributed ledger technology project, on September17, 2019.
HederaHashgraph has taken the recent spotlight on the distributed ledger space with a combination of 39-independent-member of governance council across multiple industries and geographies to ensure the network will be governed and the needs of mainstream markets will be addressed. Hedera demonstrated its distributed ledger technology in “lightning fast, fair, and secure” manner to the forms of service which include crypto-micropayments, file storage, and contracts.
OKEx’s listing review process sets a high standard in many aspects, including important pillars ranging from project quality (i.e. (legal) qualifications, business model and structure, promotion, etc.) to project community (i.e. ecosystem-wise capacity and promotion opportunity). By taking every possible measure, OKEx strives to ensure every listed project delivers practical use cases and brings in market liquidity.
“Hedera and OKExshare the same goal of building a trusted, safe, and fair digital future for everyone through developing a neutral, open-access infrastructure. With such a powerful, enterprise-grade ledger technology, we believe it is a big step forward in mainstream adoption of decentralization. We are excited to join hands with Hedera team to continue to explore the technological breakthrough and lead this industry forward,” according to OKEx official.
About Hedera
HederaHashgraph is a public distributed ledger that maintains the highest standards of performance, fairness, and security for decentralized applications at internet scale. The Hedera proof-of-stake public network, powered by Hashgraph consensus, achieves the highest-grade of security possible (ABFT), with blazing-fast transaction speeds and incredibly low bandwidth consumption. The Hedera Governing Council consists of up to 39 term-limited and highly diversified leading organizations and enterprises, reflecting up to 18 unique industries globally. By combining high-throughput, low fees, and finality in seconds, Hedera leads the way for the future of public ledgers.
About OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.
The post OKEx will List HederaHashgraph (HBAR), a New Generation of Distributed Ledger Technology appeared first on Coingape.
Source: CoinGape

OKEx envisions more financial inclusion between traditional financial market and crypto market, claims Andy Cheung

Currently employed methods used by traditional financial system make it difficult for the system to maintain records effectively and efficiently. In light of the same, OKEx aims to simplify the entire process by integrating the platform with blockchain technology. OKEx aims to fill the gap in a cost-effective way. With a wider user base, OKEx […]
The post OKEx envisions more financial inclusion between traditional financial market and crypto market, claims Andy Cheung appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Futures: BitMEX investigation opens door for other exchanges to offer derivatives trading

Bitcoin and Futures: development for some, speculation for others. There are few things in this world that pose a greater degree of risk than investing in the cryptocurrency industry, throw a controversial investment product like derivatives into the mix, and you have a raging ball of fire, just sitting in your portfolio. Derivatives had a […]
The post Bitcoin Futures: BitMEX investigation opens door for other exchanges to offer derivatives trading appeared first on AMBCrypto.
Source: AMB Crypto

IEO: the Replacement for ICO Raised a Total of 262 Million in 2019

Coinspeaker
IEO: the Replacement for ICO Raised a Total of 262 Million in 2019
Though only half of the projects that participated in IEO in 2019 were profitable, the research indicates that the cumulative returns to be garnered over the span of 6 months could amount to 44% ROI.
IEO: the Replacement for ICO Raised a Total of 262 Million in 2019

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Jersey List Their Own GBP-Backed Stablecoin

Coinspeaker
Binance Jersey List Their Own GBP-Backed Stablecoin
Binance Jersey has listed a proprietary GBP-backed stablecoin that confirmed that the major industry player had its sights on imminently issuing its own fiat-pegged assets, starting with a cryptocurrency 100% backed by the British pound.
Binance Jersey List Their Own GBP-Backed Stablecoin

Continue reading at Coinspeaker
Source: CoinSpeaker

OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’

Coinspeaker
OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’
Now, with the lunch date set for Thursday, July 25, speculation is rife that Sun will invite a selection of dignitaries from the world of cryptocurrency and blockchain to meet Buffett. Among those likely expected at the lunch is OKEx executive.
OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’

Continue reading at Coinspeaker
Source: CoinSpeaker

With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

Coinspeaker
With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?
With institutions now firmly in on the game, crypto is entering a new era. This is great news for retail investors, as many of funds, derivatives, and other financial instruments are also open to individuals now.
With Facebook and Netflix Involved, Are We Heading Into a New Era of Crypto Space?

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Oficially Launches its Margin Trading Platform

Coinspeaker
Binance Oficially Launches its Margin Trading Platform
Binance users are now able to trade some cryptos on margin, using the exchange’s newly launched trading platform. The new service is paired with the existing cryptocurrency exchange under one platform, labeled Binance 2.0.
Binance Oficially Launches its Margin Trading Platform

Continue reading at Coinspeaker
Source: CoinSpeaker

Smart Leverage Tokens: A New Financial Instrument by DX.Exchange

Coinspeaker
Smart Leverage Tokens: A New Financial Instrument by DX.Exchange
Estonia-based crypto exchange DX.Exchange, announced the launch of a completely new financial instrument called Smart Leverage Tokens or SLT’s. This way the company wants to change the leverage trading in cryptocurrency markets.
Smart Leverage Tokens: A New Financial Instrument by DX.Exchange

Continue reading at Coinspeaker
Source: CoinSpeaker

CoinMarketCap Makes Its First Acquisition to Provide ‘True Prices’ for Cryptos

Coinspeaker
CoinMarketCap Makes Its First Acquisition to Provide ‘True Prices’ for Cryptos
CoinMarketCap has made its first-ever acquisition. The company acquired is Hashtag Capital, a startup involved in developing algorithms that analyze ‘all points of available liquidity’ to more accurately reflect an asset.
CoinMarketCap Makes Its First Acquisition to Provide ‘True Prices’ for Cryptos

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto Exchange Bittrex Launches Decentralized Storage Project LAMB

Coinspeaker
Crypto Exchange Bittrex Launches Decentralized Storage Project LAMB
Bittrex, a global leader in the blockchain revolution announced to list Lambda – a data storage blockchain protocol, commited to creating a secure, reliable, and unlimited storage network for Value Internet.
Crypto Exchange Bittrex Launches Decentralized Storage Project LAMB

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitwise Report 2.0: HitBTC, Huobi, and OKEx skirt the line between fake and real volume

Cryptocurrency exchanges have been under the microscope for several months, with the upswing in Bitcoin’s [BTC] price contributing to certain platforms fudging their numbers. Several reports and research pieces have surfaced, classifying exchanges between those having “real” and “fake” volumes.
The most prominent report was issued by Bitwise Asset Management, which strictly stated that only 10 exchanges had “real” volume, while the other 95 percent were fake. However, in a recent report, the Bitcoin ETF hopefuls have highlighted three exchanges that have “fake volume with possible real-world footprints”.
According to Bitwise, the exchanges that skirt the defined lines between the “real” and the “fake” were HitBTC, Huobi, and OKEx.
The firm’s March report addressed to the US Securities and Exchange Commission highlighted 10 exchanges with real volume. However, following public requests, the firm in a subsequent report highlighted three exchanges with “meaning volume”.
Firstly, the report analyzed the trade volume percentage on an exchange, depending on a specific trade size over a defined period. Citing this trade size histogram for OKEx, the report stated that the same is “notably suspicious,” as it had no absolute spikes and an “atypical rise” in volume from 1-6 BTC. The exchange’s trade distribution also showed an “unusual” tail from 6 Bitcoins.
In terms of volume spikes from 28 April to 5 May, the graph depicted constant hourly volume which according to Bitwise, “betrays none of the natural rhythms of the reference exchanges.” The “reference exchanges,” are the 10 exchanges that Bitwise has contended as having “real volume.”
On the topic of OKEx’s trade volume, the report quite clearly spelled,
“While there may be a smattering of real bitcoin volume on OKEx, the charts are clear: the vast majority of bitcoin volume here is entirely fake.”
Source: Bitwise
HitBTC, which is rumored to be in liquidation woes, was also labeled as having “entirely fake” volume. The trade size histogram showed an “eerily flat line,” posting no volume after 0.5 BTC. The exchange’s hourly volume shows complete disparity with the reference exchanges, with most volume activity concentrated between April 29-30.
Bitwise added that market events which affected the volume of the “real” exchanges did not impact HitBTC and hence, the report read,
“We believe HitBTC’s volume is predominantly wash trading, done in small trade sizes.”
Source: Bitwise
Huobi’s trading and volume pattern according to the study, was the “trickiest,” Bitwise stated. Prior to their March study being released, the Trade Size Histogram showed a “highly anomalous pattern.” The chart shows an increase in trade volume between 5-11 BTC, where “very little trade volume occurs.”
Prior to the release of the Bitwise report, from 3 March to 21 March, the exchange’s Trade Size Histogram showed a “consistent pattern,” which “completely disappeared within three weeks.” The report contends that those, at Huobi, engaged in “wash trading,” cleaned up their act to temporarily portray a change in trades to avoid “detection.”
The report cautioned,
“We also recognize that Huobi might have taken action to clean up wash trading on their platform within that time frame, but that view is challenged by the fact that Huobi’s reported bitcoin trade volume did not meaningfully drop during that time.”
Source: Bitwise
Several reports have also supported Bitwise’s claims that the three exchanges fake their volume, although not completely. The report cited studies from the Blockchain Transparency Institute, The Tie and Sylvain Ribes. Compiling a simple weighted average of the estimates by the aforementioned reports, Bitwise concluded that the “estimated real volume” of HitBTC, Huobi and OKEx were,
Source: Bitwise
To put these numbers in perspective, according to CoinMarketCap, HitBTC, Huobi Global and OKEx had $1.63 billion, $1.97 billion and $2.57 billion, respectively, in reported trade volume over the past 24 hours.
The post Bitwise Report 2.0: HitBTC, Huobi, and OKEx skirt the line between fake and real volume appeared first on AMBCrypto.
Source: AMB Crypto