The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand. The CME Bitcoin futures market overtook Binance Futures to become the second-biggest Bitcoin (BTC) futures exchange by open interest. The data shows that the institutional volume is rapidly gaining a larger share of […]
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Bitcoin price is chasing another 2020 high but top traders refusing to open longs is a bearish signal. For novice traders, FOMO can be a heavy burden to bear. Resisting the urge to buy Bitcoin (BTC) after a nearly 15% rally, which saw the price break both the $12K and $13K levels in less than […]
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Bitcoin’s balance on three popular exchanges decreased by 390k BTC over the past 9 months. On October 20, 2020, the amount of Bitcoin (BTC) held at major exchanges fell below 2.5 million BTC for the first time in two years. Source: Glassnode. Nexo co-founder Antoni Trenchev opined to Cointelegraph that this trend is driven by […]
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Of the 450 million new USDT tokens, more than 185 million have been distributed with 126.9 million USDT going to Binance alone The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other addresses in the last 36 hours. As shown by […]
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Data from Wilshire Phoenix suggests BTC price formation is driven by CME Bitcoin futures but would this dynamic differ if stablecoin volumes were also included? On Oct. 14, Wilshire Phoenix investment firm released its Efficient Price Discovery report, which detailed how CME Bitcoin (BTC) futures impact Bitcoin price discovery. The firm concluded that “CME Bitcoin […]
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The Bitcoin trading dominance has hit a three-year high for the first time since BTC hit its all-time high price of almost $20,000. The cryptocurrency market has suddenly shifted back to Bitcoin (BTC) after several months of a decentralized finance (DeFi) frenzy. While market cap dominance remains below 60%, earlier this month, the trading dominance […]
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Someone is pouring Bitcoin to OKEx despite the exchange having suspended withdrawals. Large Bitcoin (BTC) transactions from Huobi cryptocurrency exchange are moving to OKEx despite the latter having temporarily suspended crypto withdrawals. According to data from crypto tracking service Whale Alert, a total of 1,995 BTC ($22.5 million) was sent from Huobi to OKEx shortly […]
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The Bitcoin ecosystem continues to be dominated by a handful of platforms and companies. Roughly 10.6% of Bitcoin’s (BTC) circulating supply is currently held on just five centralized exchanges, according to data published by Chain.info. More than 1.96 million BTC is currently held between the major exchanges Coinbase, Huobi, Binance, OKEx, and Kraken. Likely owing […]
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Tether’s USDT stablecoin dominates crypto market volumes but data shows its $15.7B market cap does not negatively impact Bitcoin’s volume. Tether’s (USDT) stablecoin has been the leading base pair for cryptocurrencies for over eighteen months. This is a rather impressive feat given the ongoing court case with the New York Attorney General and the other […]
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Despite Binance recording the highest crypto derivatives volume in September, OKEx seems to be fighting back. At the start of October, the crypto market was faced with extremely tumultuous financial conditions, thanks in large part to the recent filings against BitMEX, which saw the company’s top brass being indicted by the United States Commodity Futures […]
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