Tron Based ‘Stable Coin’ to Start Trading At Huobi and Okex Exchange

Okex and Huobi Global have added support for USD Tether pegged to the US Dollar built on Tron. Tron Foundation built the ‘stable coin’ collaboration with Tether. Currently, the two Exchanges support three stable coins markets USDT-Tron (TRC20), USDT-OMNI, USDT-ERC20 (Ethereum). The token will be launched on 30th April 2019 on the Okex and Huobi Global Exchanges.
According to the press release by Okex:
In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders.
…It has a TRON deposit address and uses the TRON network for depositing and withdrawal.
Rewards for Early Adopters and Tron’s Growth
The annual percentage return (APR) of the USDT-TRON token has been designed to give out rewards for its early adopters. The initial APR is 20% which will, however, reduce with time. Nevertheless, the program is supposed to roll out investments for a total of 100 days. The total amount of incentives will be $20 million. The incentives will be rewarded in USDT-TRON only.
Justin Sun has implored the users of the Exchanges to adapt to swap from USDT-OMNI – USDT-TRON.

#Hodl USDT-TRON to earn initial 20% APR in USDT-TRON. 100 day campaign. $20M initial budget no hard cap. Just sayin'. 😎 $TRX $BTT pic.twitter.com/jyo7QcrtbE
— Justin Sun (@justinsuntron) March 21, 2019

The Stable coin will be available on major exchanges, and the reward programs are lucrative. Therefore, the number of transactions on the Tron Network would increase significantly. Tron has built a vibrant ecosystem for Dapps and issuing digital asset. The move will foster the growth of Tron. It will also help the exchanges take advantage of the transaction capabilities of Tron which is considerably cheaper than Ethereum currently.
The returns proposed by ARP are highly lucrative. Will you swap your stable coins to earn the rewards? 
The post Tron Based ‘Stable Coin’ to Start Trading At Huobi and Okex Exchange appeared first on Coingape.
Source: CoinGape

Bitcoin and Cryptourrency Exchanges’ Reported Trading Volumes Found Fake

Independent research conducted by TIE, developed in partnership with Social Market Analytics suggests that 59% of the exchanges have falsified their trading volume data by more than 90%.
The Research Parameters and Technique Implemented

5/
The chart below shows reported trading volumes per exchange vs. monthly web visitors. While exchanges like #Kraken, #Binance, and #Coinbase show similarities between viewership and trading volume, others like Coinbene and ZBG have suspiciously high reported volume vs. views. pic.twitter.com/7Q0jBRNj9Y
— The TIE (@TheTIEIO) March 18, 2019

The organization made a comparison between the website viewership metric and the reported trading volume on exchanges. Furthermore, when they calculated the amount of money per user in the Exchanges, they found considerable discrepancies in the records.
For Example, while Binance reported $750 traded per visit, DOBI reported a whopping $356,625
Furthermore, an average of $591 per visit was estimated on websites like Binance, Coinbase, and Bitfinex.
We selected these exchanges because of large usage among institutions, reputation within the market, and because their web viewership appeared consistent with their reported trading volumes.
This estimated formed the benchmark for test on other exchanges as well. Surprisingly, more than 75% of the Exchanges reported trading volumes double of what is expected.
The total estimated suspicious volume on the exchanges is 87%.

13/
If each exchange averaged the volume per visit of CoinbasePro, Gemini, Poloniex, Binance, and Kraken, we would expect the real trading volume among the largest 100 exchanges to equal $2.1B per day. Currently that number is being reported as $15.9B. pic.twitter.com/jZzezJMmKk
— The TIE (@TheTIEIO) March 18, 2019

Exchanges to trust
According to the report Exchange which maintained parity with the reported trading volume and expected trading volume are Binance, Bitfinex, Coinbase, Kraken, Bitstamp, Gate.io, Bittrex, Gemini Poloniex, Coindeal, and so on.
The research was conducted on over 100 exchanges. Since 75% of them were found of falsifying data, the trust and support for these exchanges are sure to grow in the future.
Exchanges not to be trusted
While Okex is currently ranked one on coinmarketcap.com‘s list of exchanges according to trade volume, the report suggests that more than 90% of the data on Okex might be suspicious. Other popular Exchanges that made the red or caution list were Bit-z, Coinbene HitBTC, bw.com, Coineal, LBank, Bibox, and so on.
Need for Regulation
The report by TIE not only brings ominous news to the crypto-community but also revisits the need for regulation of Exchanges. While the largest economies of the world have cracked down on some cryptocurrency based platforms, some exchanges continue to gain limelight by falsifying volume data; an unethical practice.
A revelation of this kind can hurt the price of Bitcoin and other cryptocurrencies adversely. However, the unreported volumes of OTC trade around the world buffer the effect of false amounts reported on Exchanges.
The post Bitcoin and Cryptourrency Exchanges’ Reported Trading Volumes Found Fake appeared first on Coingape.
Source: CoinGape

LATOKEN Exceeds OKEX by not Bounced Monthly Traffic Volume

CoinSpeaker
LATOKEN Exceeds OKEX by not Bounced Monthly Traffic Volume
As soon as SimilarWeb’s analytics has revealed its February report, there is a big field for traffic volume comparison among competitors.
LATOKEN Exceeds OKEX by not Bounced Monthly Traffic Volume

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Source: CoinSpeaker

Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future

Okex has announced the launch of its Initial Exchange Offering for its users: Ok Jumpstart. The IEO of exchange will help new projects and blockchain based projects to launch their tokens on the exchange.
According to their blog post:
By saving the time and resources for getting listed on exchanges, project teams will be able to focus on project development and community management.

We'll be launching #OKJumpstart very soon. Do you know what is an #IEO? https://t.co/AHDlYbZBnu
— OKEx (@OKEx) March 13, 2019

How is an Exchange Offering Different from an ICO?
While the exchange will continue to administer the working of the ‘Exchange tokens,’ an independent, autonomous team is designated the job of working on the Exchange Token.
Furthermore, the Exchange Offering is exclusively open for the exchange users only. While this creates an ambiguity as the exchange is open to the public. However, it gives assurance of KYC and AML compliance along with trust protection to the token holders.
         IEO vs ICO
The exchange reaffirms that an exchange offering is entirely different from an ICO as the exchange is a tangible running model, rather than an idea on a whitepaper. Hence, the chances of it performing, in the long run, are higher.
“Instead, the exchange is risking their credibility when doing IEOs, since it has no control over the IEO project team’s operation and product delivery as promised in the latter’s white paper… This provides an extra layer of protection to contributors.”
Also Read: Bittrex Hosting First Initial Exchange Offering (IEO), Is It Similar to Binance Launchpad?
Furthermore, Exchange Offerings can increase the degree of decentralization for an exchange. It is established as the order books, and the Exchange Token decentrally regulates exchange controls. Moreover, the Exchange acts as physical administrators of the token and the exchange. Hence they can also take immediate action during unforeseen circumstances. The new age exchange offerings from Bittrex and Okex will inevitably compete with Decentralized Exchanges in the future.
The post Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future appeared first on Coingape.
Source: CoinGape

Tron [TRX] adds another feather to its cap as coin gets listed on OKEx’s Customer-to-Customer platform

Tron [TRX]’s approach towards mainstream adoption is paved by its multiple developments and tie-ups with different cryptocurrency organizations. The Justin Sun-led cryptocurrency enjoyed some success this year, on the back of the latest hard fork and the Tether [USDT] partnership.
The latest Tron update was announced by OKEx, the popular Malta-based cryptocurrency exchange. It announced that Tron will be listed on OKEx’s Customer-to-Customer market. Justin Sun, the CEO and Founder of the Tron Foundation tweeted,
“#TRX is now available on @OKEx C2C market, #TRONICS can trade $TRX fiat trading pairs TRX/CNY, TRX/VND, TRX/GBP, TRX/RUB, TRX/THB. Go #TRON.”
He also said,
“I am proud to announce that Tron will be listed on OKEx from March 11th. I have full confidence in the platform and I hope that fans and users of the cryptocurrency enjoy trading and conducting transactions on the platform.”
Tron was also in the news recently when the Tron-acquired BitTorrent revealed its new incentives program to increase adoption within the cryptosphere. The plan was to rope in BitTorrent’s 1 billion-plus users and integrate them into the Tron network. BitTorrent had announced,
“To keep growing the #BitTorrent community and make #blockchain accessible to most people we are unveiling three new incentive plans available to our users, partners, and the clients using our protocol!”
The incentives were in three forms: User incentives, Partner incentives, and Ecosystem incentives. The User incentives were planned to educate people about adding more investors and maintaining a steady pace of adoption. Partner Incentives targeted Tron’s tie-ups with cryptocurrency exchanges such as Binance, Huobi, and Gate.io. Ecosystem Incentives, as the name suggests, is a directive put forth by BitTorrent to reward customers who use their protocol with perks and advantages.
OKEx also enjoyed a good start to the year, as it added major cryptocurrencies such as XRP and Ethereum to its roster. In an official release, OKEX stated,
“OKEx C2C trading platform aims to provide a convenient and accessible way for public to better understanding of the application of digital assets and blockchain technology. The platform facilitates the trades between users by offering a low-volatility market and zero transaction fee.”
The post Tron [TRX] adds another feather to its cap as coin gets listed on OKEx’s Customer-to-Customer platform appeared first on AMBCrypto.
Source: AMB Crypto

TrustToken Customers Can Soon Check the Status of TrueUSD Market in Real Time

CoinSpeaker

TrustToken Customers Can Soon Check the Status of TrueUSD Market in Real Time

The new feature for TrueUSD users will be available through the real-time dashboard developed independently by Armanino. The launch is set to take place in April.

TrustToken Customers Can Soon Check the Status of TrueUSD Market in Real Time

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Source: CoinSpeaker

Ethereum’s Constantinople and St. Petersburg Hard Forks Have Been Activated

CoinSpeaker

Ethereum’s Constantinople and St. Petersburg Hard Forks Have Been Activated

After two delays, the Constantinople and St. Petersburg hard forks have finally gone live. With this release, four different Ethereum improvement proposals (EIPs) have been officially activated.

Ethereum’s Constantinople and St. Petersburg Hard Forks Have Been Activated

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Source: CoinSpeaker

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

CoinSpeaker

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

Tron will start distributing its BitTorrent Token in airdrops, to its TRX holders through the Binance Launchpad platform. The Tron Foundation plans to airdrop tokens for the next six years up to February 2025.

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

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Source: CoinSpeaker

Bitcoin Exchange Popularity Sees a New Trend, Diar in its Astonishing Report

Despite bear markets, crypto exchanges did enjoy success in 2018 making it as a record year. While 2019 is anticipated to bring fortunes back to cryptos, the exchanges have started the new year with some nervousness as the trading volumes have begun to collapse. While Binance’s Bitcoin/USD volumes slashed by around 40%, Gemini and Coinbase also have reported some sluggishness.
Is the popularity of crypto trading decreasing?
According to the recent report released by Diar research, Cryptocurrency exchanges have begun 2019 on a slumber note as trading volumes of nearly all major exchanges have hit new lows in January, which was something that was not seen since 2017. One of the first reason that comes to the mind for this drop-in volume is the lack of volatility so far this year, which has kept traders away, who enjoyed making quick bucks riding the huge price movements. If this continues, exchanges could soon hit a new plateau after coming from the record-breaking year of 2018.
While the plateauing of growth is seen across exchanges, Binance draws special attention where the trading volumes of the most popular Bitcoin/USD market saw a dip of by over 40% versus December-18, marking the worst period for Binance since its inception in 2017.
While Binance definitely seemed off-guard, Coinbase’s Bitcoin/USD markets also saw a drop-in volume tanking it below the May 2017 volumes. The same has been the case with Winklevoss promoted Gemini exchange whose trading volumes have been pretty stagnant over past 2 months and OKEx which has lost its 3-month growth streak in January 2019.

While the numbers look weak for January 2019, one has to keep in mind that these numbers are in following some stellar months for all the crypto exchanges. Volumes on Binance’s Bitcoin dollar-pegged markets accounts for the year of 2018, were just shy of 50% of the total on the largest exchange. Same was the story for other exchanges as well, Coinbase BTC/USD markets accounted for 46%, slightly down from 2017 when it stood at 48%. Combined with Ethereum markets, however, the two majors accounted for 75% of total trades two years straight. US Dollar markets hit over $83Bn in trading volume for Coinbase last year, up from $67Bn in 2017.
While the growth in volumes looks slightly off the radar this month, the numbers are still big enough to conclude that there is any kind of sluggishness in the market. Drop in volumes could also be an indicator that people are not just trading cryptos for some quick bucks and are turning investors and holding their assets for long term appreciation.
Why do you think are these crypto trading volumes falling? Do let us know your views on the same.
The post Bitcoin Exchange Popularity Sees a New Trend, Diar in its Astonishing Report appeared first on Coingape.
Source: CoinGape

Crypto Exchange Volumes Drop to Lowest Levels For Over a Year

As the crypto winter deepens with no sign of a recovery on the horizon contractions have been occurring across the industry. The two notable signs at the moment are shrinking exchange volumes and a drop in crypto related Twitter activity.
Trade volumes across all of the major crypto exchanges have plummeted back to levels not seen since 2017. According to research by Diar, exchanges could be set to enter a new plateau as volatility dwindles and markets cool off. So far 2019 has been particularly quiet has crypto markets pulled back in January.
The research added that Binance, the world’s top exchange by reported volume, has seen its worst period for well over a year as the Bitcoin/USD market has been slashed 40% since December 2018. According to Coinmarketcap.com Binance volume is currently at $640 million which is way down from the billions traded on the exchange this time last year.
Binance is not the only exchange to suffer. Coinbase has also recorded its lowest month since May 2017 as trade volume plunge amid a deepening bear market. OKEx is another one that has lost out with the reversal of a three month growth trend as volumes shrink. Gemini has shown a similar pattern to Coinbase as the declines are extended.

There have been several reports last year of fake volumes on some of the major crypto exchanges but there is no denying that figures have shrunk across the board over the past year.
Twitter Activity in Decline
In addition to the drastic drop in exchange volumes has been a decline in crypto related activity on Twitter, which has become the standard social media platform for the industry. Prominent crypto analyst Murad Mahmudov has observed that Bitcoin related tweets have dropped to levels back in 2014. He added that this was an extremely bearish sentiment which backs up claims that the crypto winter is far from over.

1/ This screams bearish.Tweets about Bitcoin at the same level as 2014 and lower than at any point in 2016, like nothing has changed.
That is an absolute disaster for the price in the medium-term in my opinion. pic.twitter.com/DTdsUepx1t
— Murad Mahmudov (@MustStopMurad) February 3, 2019

Murad has made a number of price predictions with the most recent seeing a dip to $1,700 for Bitcoin by the middle of the year. This would provide a key level to accumulate and a trend reversal has been predicted for the latter half of 2019 when the bear market final comes to an end.
The decline in Twitter activity and exchange volumes are unsurprising considering that markets have collapsed by over 80% over the past 12 months.
Image from Shutterstock
The post Crypto Exchange Volumes Drop to Lowest Levels For Over a Year appeared first on NewsBTC.
Source: New feedNewsBTC.com

Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX

While decentralized exchanges (DEX) were considered to the future of cryptocurrency exchanges, they somehow seem to have lost their charm. According to the recent report from Diar, decentralized exchanges have now hit an all-time low in terms of US dollar traded value, as well as Ether transaction on-chain. 
Are Decentralized Exchanges Just A Fad or Do They Have A Future?
According to the data presented by  Diar Research in its latest report, it looks like DEX’s have hit a roadblock. The data put forward shows that as on June 2017, when DEX first began appearing online, a total of $8.9Bn was been traded on-chain. But that figure dipped last year to just pipping over $7.1Bn. While the dipping from 2017- 2018 was still minuscule the first month of January has only been able to volumes of $49Mn for the month of January – to-date, an all-time new low for DEX’s
Source: Diar Report
To give a comparative perspective, these reported volumes for January 2019, as less than a tenth of what the largest centralized exchange Binance trades, alone, on a daily basis.  At this run rate, DEX’s will be able to garner around USD 600 million of on-chain volumes which would be a significant dip from last year.
It’s not just volumes in dollar terms, the other metrics such as  Ether transaction on-chain and unique addresses have also hit a new low. To quote from the report
“In terms of Ether, this month is a mere third of what was traded on Ethereum DEXs in January 2018. At the peak, over 2.3Mn ETH was traded in May 2018 – now down to 400K.”

Have Binance, OKEx and Bithumb got their strategies wrong?
Considering the demand and the hype built around the future of DEX’s a lot of centralized exchanges had announced their plans to enter the space. To name a few, Binance had already shown a short demo of their platform. OKEx’s Open Ledger DEX is already launched, as has Bithumb’s DEX. Coinbase too, last year purchased Paradex with the same vision of a decentralized exchange holding keys to the future. But none seem to have been able to get customers of their respective DEX’s despite the fascinating model of low or no fees.
And now with further tightening of the situation, there is further speculation that DEX’s may just find it too difficult to pick up. While a lot of crypto prodigies on the street have spoken in favor of DEX’s maybe they need some more time to flourish.
Will DEX pick up or would they fade out? Do let us know your views on the same.
The post Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX appeared first on Coingape.
Source: CoinGape

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

CoinSpeaker

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Source: CoinSpeaker

OKEx Exchange Hits OTC Trading for Thailand and UK Users

Announced on Jan 23, 2019, OKEx, one of the largest cryptocurrency exchange with present total market cap $494,011,680 is rolling out OTC trading specifically for UK and Thai users.
OKEx launches OTC Trading
Today’s hottest bulletins of OKEx adding two new currencies on its Over-the-counter (OTC) trading platform are exciting the million people across UK and Thailand. According to the official release, all users in both regions can be eligible to trade on OKEx’s OTC trading platform following the completion of KYC verification.  With the launch announcement, the exchange also revealed the bonus of up to 50 USDT for users in UK and Thailand

Celebrate the launch of Thai Baht (THB) & British Pound (GBP) OTC markets with us.
Join OKEx today to get a welcome bonus of up to 50 USDT!
Details: https://t.co/zu0M4P4Isc
•UK & Thai users exclusive pic.twitter.com/wjvq6ZSIUY
— OKEx (@OKEx) January 23, 2019

OTC trading platform or fiat to cryptocurrency platform enables users to place orders with their specified payment method. Further, it allows them to proceed the order with the self-selected exchange rate to trade cryptocurrencies with fiat currencies. Via OKEx’s OTC trading platform, Thai and UK users can trade Thai baht (THB) and British Pound (GBP) in against cryptocurrencies including BTC, USDT, ETC, and LTC. Besides fiat to crypto, users can also trade Vietnamese Dong (VND) and Chinese Renminbi (CNY) on its OTC trading platform.
The announcement reads that the launch with limited currencies is just a start, OKEx will add more currencies in later this year. Further, it is worth to note that the Malta-based exchange is growing at a rapid pace, it stands on the second spot on the crypto exchange ranking graph of Coinmarketcap. The listing of GBP and THB to its OTC trading is followed by OKEx’s derivative market launch. The perpetual swap of OKEx is now enabled in seven different cryptocurrencies besides BTC – these include BCH, BSV, EOS, ETC, ETH, LTC, and XRP.
Andy Cheung, OKEx’s Head of Operations discusses the potential of Thailand and the UK for cryptocurrency space. The press notes that;
“Our mission is simple at OKEx. We aim to offer flexibility and convenience to our traders. Thailand and the UK own the fastest growing crypto communities in the world. We see great potential in these two markets and want to support the needs there. Because of the increasing trading volume and the number of traders in these two countries, we decided to launch the new THB and GBP trading services on our OTC trading platform. Wherever the market potential locates, we will expand there. In 2019, you can expect more currencies will be supported on OKEx,”
What do you think about OKEx’s launch of OTC trading for two new fiats? Let us know.
The post OKEx Exchange Hits OTC Trading for Thailand and UK Users appeared first on Coingape.
Source: CoinGape

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

CoinSpeaker

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

The BTT airdrop program is set to start on February 11, 2019, and will continue until 2025, with allocations dispersed yearly. It has already received support from Binance, OKEx, Huobi, and other exchanges.

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

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Source: CoinSpeaker

Bitcoin Transactional Volume Crossed $3 Trillion in 2018: Research

The transactional volume of Bitcoin, the world’s leading decentralized digital currency, exceeded $3 trillion in 2018, researchers found.
According to Satoshi Capital Research (SCR), the Bitcoin network experienced $2.2 trillion worth of trading volume. At the same time, it recorded $3.2 trillion in Layer One transactional volume, down 8.3% than the amount in 2017. However, the median change in Bitcoin trading volume since 2009 was positive, rising at an average rate of 2.91% every year.
The New York firm compared Bitcoin’s trading volume with the volume of fiat currencies of emerging economies. It noted that people traded the digital money more than Argentinian Pesos and Bulgarian Lev. At $2.2 trillion, Bitcoin was beaten only by Chilean Peso, Israeli Shekel, and Thai Baht, whose trading volumes were $4.38 trillion, $5.11 trillion and $6.57 trillion, respectively, in 2018.
Source: SCR
“This solidifies [Bitcoin’s] position as a serious global currency, ranking just under the Chilean Peso and more than 6x the Bulgarian Lev,” wrote SCR.
Fake Volumes
The researchers studied graphs provided by CoinMarketCap.com, a renowned crypto data aggregator service which arranges trading data from the order books of multiple crypto exchanges. Several of these exchanges are unregulated so it increases the probability of wash trading, whereby a trading service simultaneously buys and sells an asset to manipulate its value.
According to Blockchain Transparency Institute (BTI), an independent blockchain research group, the volume of top pairs that CoinMarketCap.com sources from exchanges are fake. Trading companies like OKEx, Huobi, and BitHumb have allegedly reported wrong trading volumes of their Bitcoin-related pairs.
“We have calculated the true volume of the CMC top 25 BTC trading pairs,” read BTI. Most of these pairs actual volume is under 1% of their reported volume on CMC. We noted only 2 out of the top 25 pairs not to grossly wash trading their volume, Binance, and Bitfinex.”
OTC Trading
Also, SCR didn’t discuss how a considerable portion of trading volumes does not appear on exchanges’ order books. People with a high number of Bitcoin units exchange them over-the-counter, in a process called OTC trading. Just recently, Goldman Sachs-backed Circle alone posted $24 billion worth of OTC trading volume in 2018 at its exchange. It proved that how big investors use offline services to conduct bitcoin trades – they lie anywhere between $50,o00 and the hundreds and millions of dollars.
Reuters reported that crypto company Genesis Trading handled $75 million to 85 million worth of trading volume every day, which didn’t make to the CoinMarketCap index.
Meanwhile, Tabb Group, a UK-based marketing research firm, in its April 2018 study, said that the OTC market could be 2-3 times bigger than the online exchange market.
“The big deals have to go OTC. A lot of the exchanges limit the order size, so you have to break up your orders, and that’s just fatal,” said Monica Summerville, Tabb’s director of fintech research.
The post Bitcoin Transactional Volume Crossed $3 Trillion in 2018: Research appeared first on NewsBTC.
Source: New feedNewsBTC.com