With the Bitcoin Fear and Greed Index noting a reading of 88 on the charts, based on data from Alternative, the trade volume of Tether was noted to have dropped by nearly 4%. In fact, the drop was pretty noticeable on the price charts too as Tether hit a low of $0.99 for the first...Read More
The leading cryptocurrency exchange Binance has helped recover almost all $345,000 funds stolen due to an exit scam conducted by an automated market maker (AMM) dubbed Wine Swap. Binance Security Team Recovers 99.9% of Stolen Funds In a press release shared with CryptoPotato, the popular exchange shared that Wine Swap launched on Binance Smart Chain...Read More
For BitMEX, it hasn’t been the best of years from a popularity perspective. First, it faced massive criticism during the March 13th crash, when traders lost money due to an alleged DDOS attack, and recently Arthur Hayes, CEO of the exchange faced charges over violation of anti-money laundering policies. It hasn’t been smooth sailing and...Read More
Binance has announced the issuance of wrapped tokens on Ethereum through its Token Canal program. According to the announcement the first batch of tokens to be wrapped into ERC20 tokens on Ethereum will be Bitcoin [BTC], Polkadot [DOT], Filecoin [FIL], and WazirX [WRX]. “BTC, DOT, FIL and WRX will be the first batch of tokens...Read More
Binance is the world’s largest cryptocurrency exchange by means of daily trading volumes. In the few short years since its launch, the venue went on to become a leading company in the industry. In fact, launching coins up for trade on the exchange has created the so-called “Binance Effect.” In short, when a cryptocurrency is...Read More
A tweet by the VP of Futures at Binance, Aaron Gong, addressed an apparent attack on the liquidity of USDETH Perpetual Futures. Source: Twitter As per the tweet by Gong, Binance believes this to be ‘intentional sabotage’ from a competitor and stated that, “This happened on ETHUSD Perp futures. It was caused by one trader,...Read More
With bitcoin’s latest rally beyond the $13,000 mark, it seems like the next bull market is here. It can be seen from BTC markets that have been on fire for the last 7 days, including derivatives. The latest data shows that bitcoin futures markets on Binance have clocked the highest 24h BTC futures volumes amongst...Read More
One of the most popular cryptocurrency exchanges, OKEx, suspended withdrawals earlier today, which led to lots of confusion within the community and price slumps for the market. CryptoPotato reached out to OKEx personnel, including CEO Jay Hao, to shed some light on the entire situation. In the original statement, OKEx reasoned that the withdrawal suspension...Read More
11 days have passed since the CFTC issued its indictment against BitMEX’s senior management. However, despite its legal troubles, the popular crypto-exchange continues to operate with respectable daily trading volumes. This fuels the question – How important is BitMEX really to the larger crypto-ecosystem? Now, worst-case scenario, if the accused are found guilty, the exchange’s...Read More
Apart from BNB, Changpeng Zhao, the founder and CEO of cryptocurrency exchange heavyweight Binance has another reason to smile. Yesterday the Binance Smart Chain (BSC) handled 21 percent of Ethereum transactions, at 0.6 percent of the gas fees charged for transfers on the latter. This makes BSC about 35 times cheaper, he said. Also, CZ...Read More
Have you been missing the price action in Bitcoin markets across exchanges lately? Based on WooBull’s Bitcoin volatility chart, 60-day volatility is 5.65 and 90-day volatility is 8.95. The recent drop in volatility can be attributed to the reduced inflow of Bitcoin into exchanges. Bitcoin Volatility || Source: Woobull Charts Trade volume on spot exchanges...Read More
The combined stablecoin market recently topped a valuation figure of $20 billion. Apparently, this was the total market value of all cryptocurrencies in the pre-bull run month of February 2017. Also, stablecoins together are contributing to $26 billion worth of trading volume. The Crypto Stablecoin Market Is Booming As per the latest statistics, the total...Read More
Cryptocurrency investors have withdrawn approximately 45,000 bitcoins from the derivatives exchange BitMEX following the recent charges brought by the US CFTC. A sizeable portion of the massive amount has ended up on two rival exchanges – Gemini and Binance. CFTC Charges Against BitMEX Owners As CryptoPotato reported last week, the US Commodities and Futures Trading...Read More
For a number of years, CoinMarketCap (CMC) has been the industry’s premier analytics website for data on the top tokens and exchanges. There were a number of competitors but CMC was still the chosen source despite major discrepancies in the data it published. CEO of the FTX derivatives exchange and Alameda Research, Sam Bankman-Fried (SBF)...Read More
In late August this year, Binance launched its DeFi Composite Index. Trading under the DEFIUSDT symbol, it’s currently down over 50% in a little over a month. Unfortunately, there is even worse news for the young index. DeFi Composite Index Down Over 50% At this point, it’s quite clear that DeFi is where all the...Read More
Cryptocurrency exchange KuCoin’s hack has been the talking point of the week, with the culprits involved later making headlines after they tried to move the stolen crypto onto several decentralized exchanges. The hack and its perpetrators are in the news again today after Whale Alert revealed that part of the stolen funds, including a lot...Read More
Over the past ten years, crypto-exchanges have emerged to become extremely crucial, not just with regard to adoption levels, but also when it comes to directing the overall growth of the industry. The previous year saw a lot of interest in greater levels of decentralization, an interest that contributed to the DeFi boom and renewed...Read More
Uniswap made a shrewd move by airdropping millions of tokens and launching its own liquidity pools to reclaim what SushiSwap had taken from it in just over two weeks. It has propelled the platform back to the most dominant DEX as total value locked approached $2 billion while that on rival SushiSwap has dwindled. Uniswap...Read More
After celebrating its first birthday earlier this month, Binance Futures has announced a new milestone. The derivatives trading platform of the leading cryptocurrency exchange Binance has exceeded $1 trillion in trading volume since the start of the year. Binance Futures Reaches $1T Trading Volume YTD Launched a year ago, Binance Futures rapidly started expanding its...Read More
Binance’s Tether reserves are up 450% in the past one month. The exchange has seen increased volatility in its Tether reserves since April 2020. There was a significant drop in July 2020, however, there has been a massive recovery in the past month. Source: Cryptoquant USDT reserves are up from $88 M to $1.06 B...Read More
Uniswap’s UNI token just released on the Ethereum main net. Soon after, Coinbase Pro and Binance announced its listing on their platforms. UNI’s market price soared through the roof (to the tune of 300 percent) post the news. Coinbase Pro Announces Listing For Uniswap’s UNI Token According to a blog article, US-based cryptocurrency exchange Coinbase...Read More
Binance has made it no secret that it aims to dominate the world of DeFi as it has done with the crypto industry. The company is clearly angling to become the Google of crypto, launching new products and incentives on an almost weekly basis. The latest hot DeFi launch, Binance Smart Chain, is gaining traction...Read More
On September 12, 2020, CZ, the CEO of Binance, the leading cryptocurrency exchange, shared with his followers an unfortunate accident that led to a client losing $20,000 in the blink of an eye. In a tweet, CZ told the story of a user —whose identity he did not reveal— who sent 800BNB (about $20,000) to...Read More
In terms of sheer price action, this week was rather sloppy. Bitcoin was trading at around $10,400 seven days ago, and it’s now indecisive around $10,300. During the week, things did get slightly more tumultuous as BTC dipped below $10K on a few occasions, reaching as low as about $9,800 on Binance. Many thought that...Read More
Binance is willing to go big in the world of DeFi and is investing heavily in promoting its own ecosystem in a clear attempt to take some of the spotlights off Ethereum. During an online panel at The World of DeFi summit, Changpeng Zhao (CZ), the CEO of the world’s largest crypto exchange by trading...Read More
A few days after being hacked and drained for $5.4 million worth of digital assets, the European cryptocurrency exchange Eterbase claimed that it had tracked part of the stolen funds to Binance, Huobi, and HitBTC. The company asked for assistance from those exchanges and reassured its users that Eterbase will endure. $5.4M In Crypto Stolen...Read More
Stablecoins have added $100 million a day in market capitalization over the past three months. Tether has contributed to this market cap with a trading volume that is 1.84 times that of Bitcoin as of September 7, 2020. However, this is only the tip of the iceberg. Tether reserves on exchanges, that were primarily used...Read More
Centralized exchanges are facing the harsh reality of losing out to DeFi protocols that don’t have as many costs involved with transacting. The only way to get back in the game is to launch their own DeFi products to lure customers back, and liquidity farming is the most popular activity in the industry at the...Read More
Bitcoin has reduced its high volatility as of late and remains above $10,000. The rest of the market shows recovery signs, including Chainlink, which is back in the top 5, and SushiSwap’s triple-digit price surge has returned SUSHI in the top 100. Bitcoin Stays Above $10K After a few consecutive days of massive price fluctuations,...Read More
Over the past few weeks, the hype around a supposed altseason seems to have died down. I mean, sure, DeFi is still what one would characterize a “booming space.” But, many of the market’s altcoins have fallen on the charts lately, especially since Bitcoin dipped under $11,000 a few days ago. Thus, the question arises...Read More
