Abstract: We look at the history of Bitcoin mining ASIC manufacturers, in particular the reported energy efficiency of the mining machines. We analyse the five main players in the market today, with a focus on Canaan and its profit warning right after its IPO. We then evaluate Ebang’s recent IPO prospectus and comment on the...Read More
Key Highlights Crypto Derivatives Volumes Hit an All-time High in May Derivatives volumes across all platforms soared in May. Volumes for all crypto derivatives increased 32% in May to an all-time high – totalling $602 bn. What’s more, crypto derivatives are gaining market share. Total spot volumes increased only 5% to $1.27 tn in May,...Read More
We are launching a BCHUSD quanto perpetual swap contract with up to 25x leverage on 16 June 2020 at 04:00 UTC. This is the fourth quanto contract to be launched on our platform and follows the successful introduction of the ETHUSD quanto futures contract on 05 May 2020 and the XRPUSD swap contract on 05...Read More
Abstract: This piece is written by Bitcoin Core maintainer and BitMEX guest writer, Michael Ford. Michael is the first recipient of the expanding HDR Global Trading Limited Bitcoin developer grant program. This follows on from Michael’s first piece for us: Build Systems & Security – Bitcoin Is Improving. In this new piece, Michael explains four...Read More
According to an online monitoring web portal called, Under the Breach, a hacker is purportedly trying to sell customer information that stems from companies like Keepkey, Trezor, Ledger, and even the investment platform Bnktothefuture. The hacker doesn’t seem to have any passwords, but is offering detailed information that was stolen from an alleged Shopify breach...Read More
(Source: Space Ibiza Nightclub) In the beginning there was Jack.And Jack had a groove.And from this groove came the groove of all grooves.And while one day, viciously throwing down on his box, Jack boldly declared “Let there be house!” And house music was born. I dream of thumping house music, neon lights, and mental disorientation...Read More
Abstract: Due to numerous requests, we provide a follow up to our February 2019 piece, “Anatomy Of The Next Global Financial Crisis”. We update our thinking following the pandemic driven crash and liquidity driven recovery in financial markets. We no longer think long dated volatility related bets are an effective way to protect portfolios because...Read More
The total fallout of the recent Bitcoin block reward halving has yet to be determined. One thing is apparent: more funds has been withdrawn from exchanges in recent days, further confirming that people are primarily intent on holding. There is always an ample supply of Bitcoin on exchanges and trading platforms. Moving More BTC off...Read More
In mid-April, news.Bitcoin.com reported on a great number of BTC withdrawn from cryptocurrency trading platforms and after the third BTC halving, the trend has picked up once again. Data from Glassnode’s Bitcoin Exchange Net-Flow statistics show that close to 24,000 BTC has been withdrawn since May 11. Additionally, statistics from Bituniverse’s exchange reserve data indicate...Read More
The Indian cryptocurrency industry has been growing rapidly despite the nationwide lockdown and the coronavirus crisis. Two new cryptocurrency trading platforms are launching in India while existing crypto businesses seek clarification from the central bank, the Reserve Bank of India (RBI). New Cryptocurrency Trading Platforms Launching in India The crypto sector in India is showing...Read More
Executive Summary April 30th Saw Historic Volumes Ahead of Bitcoin Halving In April, crypto spot markets saw another historic daily volume record, totalling $66.2bn on April 30th – as Bitcoin soared above $9,000. While this doesn’t match the daily volumes seen on March 13th ($75.9bn), it still represents the second highest volumes experienced on record. The...Read More
Abstract: We examine Ethereum 2.0, which is set to launch as early as July 2020, assuming there are no further delays. However, the launch may not be as important of an event as it sounds. Initially, Ethereum 2.0 will mostly operate as a test network for the new proof of stake consensus system. Most of...Read More
On 5 May 2020 at 02:00:00 UTC, we will reduce the Base Maintenance Margin requirements for our XBT Series and ETH Series products as part of an ongoing trial period – this includes the ETHUSDM20 Quanto Futures contract launching on 5 May 2020 at 04:00 UTC. Base Initial Margin requirements will be unchanged. The current...Read More
Welcome to the Crypto exchange reviews series, get the best and latest information on standard crypto exchanges, to begin with your exchange needs. Probit Exchange is the fastest growing crypto exchange having 215,000 active users monthly and can boast a matching speed of over 1.5 million orders per second. Launched in 2018 Probit grabbed this...Read More
We are launching an ETHUSD quanto futures contract with up to 50x leverage on 5 May 2020 at 04:00 UTC. The first contract (ETHUSDM20) will expire in June. This new product will be the only one of its kind available in the market, and represents significant new trading opportunities on BitMEX. ETHUSD quanto futures have...Read More
From 17:00 to 19:30 UTC on 21 April 2020, BitMEX deployed the next-generation version of its Feeds architecture. This system is internally known as the “Publisher”. It is responsible for receiving the firehose of raw data from the trading engine, parsing it from our internal IPC format to JSON, splitting it into subscriptions, and publishing...Read More
In brief: Everyone was shocked when US Oil prices hit zero and global futures contracts fell hard into negative territory. Such an event had not been anticipated by the team at the EMX exchange. The team halted trading of its USOIL-Perp contract. Trading of the perpetual contract is yet to be reopened as the team...Read More
We are always looking at ways we can improve communications with our growing user-base, to ensure all users have access to the most up-to-date information and official announcements from BitMEX, as quickly and easily as possible. This is why we are pleased to launch the official BitMEX Telegram channel: https://t.me/BitMEX_Announcements. This English language channel provides...Read More
Today, we are happy to announce a new feature rolling out for BitMEX users: Addresses! As part of an ongoing effort to improve tools and options, we are introducing a feature that enables users to input and save wallet addresses for quick retrieval during withdrawals. Simply head to bitmex.com/app/addresses to enter and save a wallet...Read More
Abstract: The following article is written by guest writer, Leo Weese. Leo explains the potential long term impacts of COVID-19 on culture, work, health and the economy & finance. He concludes by saying that some jurisdictions like Hong Kong or Singapore may attempt to eradicate the virus, while others in the West may attempt to...Read More
Ever since the supreme court quashed the banking restriction imposed by the central bank, interest in cryptocurrency has been rising in India, including on peer-to-peer (P2P) marketplaces. The local crypto community is growing despite the nationwide lockdown and rising covid-19 threat. Also read: 2x Bitcoin — Wanna Double Your BTC to the Moon? Forget About...Read More
Forky (Source: Pixar Animation Studios) Shazaam! You snap your fingers and COVID has disappeared, you can exit lockdown and continue on with your life. How do you feel? Are you as optimistic as you were in January? Do you trust your government to put your health and safety first? Do you trust your government to...Read More
We are pleased to announce the appointment of Ben Radclyffe as Commercial Director of HDR Global Trading Limited, operator of the BitMEX cryptocurrency-products trading platform. This is a significant new role which sees Ben taking responsibility for Financial Products, and Business & Client Development. He will report directly to Arthur Hayes, CEO. The future of...Read More
Executive Summary 13 March Market Crash Saw Highest Daily Volumes Ever The massive market crash on March 12-13 saw daily volumes hit $75.9bn in a single day (13 March) – the single greatest daily volume recorded in cryptoasset history. Most of this figure came from lower-tier exchanges ($54.3bn), with volume from Top Tier exchanges totalling $21.6bn (28.5%) – one...Read More
Abstract: We evaluate the impact the block reward halving, which is due to take place in a few weeks’ time, may have on the Bitcoin mining industry. Assuming a constant Bitcoin price and excluding the impact of transaction fees, mining industry revenue should fall by around 50%. However, this is not necessarily the case for...Read More
HDR Global Trading Limited (‘HDR’) is delighted to announce that we have decided to provide a further, increased Bitcoin development grant to Bitcoin Core maintainer Michael Ford (AKA fanquake). In July 2019 we provided Michael with a US$60,000 grant, payable over 12 months. We have now ended the old grant early and provided him with...Read More
In brief: In the last week, two prominent crypto exchanges have launched Bitcoin USDT perpetual contracts. They include Bybit and KuMex (KuCoin’s derivatives platform.) Tether (USDT) is ranked 4th according to market cap. Its website states the company has $6.229 Billion in assets. Trading of Bitcoin futures contracts has become more popular as crypto traders...Read More
Abstract: We compile a list of the main organisations and individuals funding open source Bitcoin and Lightning development. Based on the data we have compiled, Blockstream and Lightning Labs are the largest contributors to open source development in the space, while as far as contributors to Bitcoin Core goes, Chaincode Labs is currently the largest...Read More
We’ve had a number of questions from our traders over the past week about the role and performance of the Insurance Fund on 12 and 13 March. In this update, we explain more about how the Fund works, and what it’s used for. We also address questions including how we calculate an appropriate size for...Read More
Recent Updates The CryptoBridge DEX exchange has ceased its operations since Nov 15, 2019. The exchange posted an announcement on its website intimating the users. The company claims market conditions, increasingly strict regulation and lack of funds as reasons for its decision to close and not pursue further development. Cryptocurrencys have evolved a lot over...Read More
