Day: June 27, 2019

Amazon-Owned Twitch Quietly Brings Back Bitcoin Payments

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Amazon-owned, leading game streaming platform Twitch has enabled bitcoin (BTC) and bitcoin cash (BCH) payments again, Cointelegraph Brazil reports on June 25. As Cointelegraph reported at the time, in March Twitch quietly removed bitcoin and bitcoin cash as payment options for subscriptions by removing Bitpay as a payment method. Per the report, Bitpay has been enabled again as a payment processor on the platform. Bitcoin and bitcoin cash can be found as payment options in the section dedicated to the less common payment methods of the subscription payment page. The…

CoinMarketCap Pushes Exchanges to Transparency: Sign of Mature Market?

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In May, crypto market data provider CoinMarketCap requested all exchanges in the global exchange market disclose accurate data in a move to improve transparency of the information displayed on the platform. CoinMarketCap declared an ultimatum to all exchanges listed, clarifying that they would be delisted from the platform if they fail to provide accurate trading data, volume and other relevant information. In an initiative called Data Accountability and Transparency Alliance (DATA), CoinMarketCap said that it will “review, align, and enhance reporting standards across the industry” with the objective of eliminating…

While Bitcoin Soars, This Cryptocurrency is up 737% Since January

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The bitcoin price is up 234 percent since January, even despite Wednesday’s drop. But while mainstream media scramble to explain bitcoin’s rise, one cryptocurrency has quietly outperformed every digital asset in the top 25. LINK, the native token of Chainlink, has soared 737 percent year-to-date. Although LINK’s rise is parabolic, it doesn’t appear to be a crypto pump-and-dump. There are real fundamentals behind the price. In 2019 alone, Chainlink inked deals with Google and Oracle, launched its mainnet on Ethereum, and secured a listing on Coinbase. What is Chainlink? Up…

BitMex Hits a Record $16 Billion Volume in a Single Day

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Yesterday BitMex reported on Twitter that it hit a record in daily volume as Bitcoin went pass $13,000. BitMex, which is a leading Bitcoin derivatives trading platform, topped $16 billion in volume across its products. After Bitcoin had reached $13,000, BitMex went on Twitter and revealed that their daily volume across all products had touched a $16 billion mark. In detail, BitMex saw more than $1 billion of open interest on XBT/USD market and over $13 billion traded on the XBT/USD pair. Today sets a new record for crypto: >$1B…

Another Crypto Exchange Closes Due to Regulatory Pressure

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Indian crypto exchange Koinex has ceased operations effective immediately, co-founder Rahul Raj confirmed in a blog post on June 27. Raj said multiple delays by government agencies in clarifying crypto regulation have played a factor in the decision to close. This month’s proposal to introduce a 10-year jail sentence for Indian citizens who use cryptocurrencies had also contributed to a “sharp decline in trading volumes.” According to Raj, Koinex had experienced “regular disruption,” including denials when attempting to use payment services. He alleged this disruption extended to non-crypto transactions as well –…

Huobi Expands to Turkey Where 20% of the Population Hold Crypto

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Huobi exchange will expand its operations to Turkey, planning to have a crypto-to-fiat onramp for Turkish users by the end of 2019, according to a press release on June 26. The Singapore-based crypto exchange will be “moving aggressively” to the Turkish market over the next 12 months, since the country has a “very important and promising prospective market,” Huobi Global CEO, Livio Weng, said in a Huobi-sponsored meeting in Istanbul. According to the press release, Huobi’s new expansion plans include not only a fiat on-ramp for Turkish lira (TRY), but…

Bitcoin Drops Below $12K After Biggest Daily Price Move Since January 2018

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View Bitcoin’s price volatility, as represented by the daily trading range, jumped to a 17-month high on Wednesday. The cryptocurrency has dropped from $13,880 to $11,200 in the last 15 hours and could slide further to $10,000, according to the bearish setup on the hourly chart. A possible falling channel breakout on the hourly chart would open the doors to a retest of Wednesday’s high of $13,880. The outlook on the long duration charts remains bullish. Bitcoin is witnessing a technical correction a day after printing the biggest one-day trading…

Crypto Market Plummets $58 Billion as Major Coins Fall 30% in Bloodletting

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The global cryptocurrency market lost $58 billion in a flash crash on Thursday morning as bitcoin makes a retreat. The combined value of the world’s cryptocurrencies dropped from $386 billion to $328 billion – a 14.9% loss overall. Just hours previously Bitcoin had been flirting with the $14,000 mark; now, BTC is struggling to keep a foothold on $11,500. Worst affected was the altcoin market, which saw one cryptocurrency lose in excess of 30% in a flash. Major cryptocurrencies didn’t avoid the carnage either, with Litecoin, EOS and Bitcoin SV…

Volume on Coinbase Surpasses $1.5 Billion; Bitcoin Demand Rising?

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On the day it confirmed an outage, Coinbase also registered its best daily performance since February 2018 in terms of the trading volume. The San Francisco-based cryptocurrency exchange hosted $1.5 billion worth of trading activities on June 26, according to market data firm Nomics Crypto. The level, as shown in the chart below, was first broken to the upside in October 2017, coinciding with the beginning of an uptrend in the cryptocurrency market that would later mature into a $700 billion bull run. Cryptocurrency Volume on Coinbase Hit $1.5 Billion…

Bitcoin DEX Bisq Sees Record Volume After Localbitcoins Bans Cash

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P2P bitcoin (BTC) trading platform Bisq is seeing record trading volumes as users drop Localbitcoins, data from monitoring resource Coin Dance confirmed this week.  Bisq, the DEX formerly known as Bitsquare, is a decentralized application facilitating crypto-to-fiat trades without a formal intermediary.  For the week ending June 22, the most recent period for which data is available, the platform handled $6.1 million, its best performance on record.  Noticeable upticks came from markets as diverse and the United Kingdom and Brazil, the former seeing its second-biggest volumes.  The increased activity comes…