Category: Exchanges

Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K

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Bitcoin’s (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market. Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of 9,476. The rise in exchange flows indicates miners are currently selling their BTC in anticipation of the price going down.…

SEC reportedly launches investigation into insider trading on exchanges

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The Securities and Exchange Commission (SEC) has reportedly launched a probe to discover how crypto exchanges are working to prevent insider trading. FOX Business reported on June 15 that a person with direct knowledge of the SEC’s activities said that the commission had sent a letter to a major crypto exchange requesting information about how the platform protects users from insider trading. The source believes the same letter has been sent to multiple exchanges. It is not clear which exchange or exchanges have received the request, but the news outlet…

Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze

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On June 14, discussions of Celsius continued to populate media headlines and June 14’s news involved the platform’s CEL token accruing massive gains after what appears to have been either an exchange glitch or a short-squeeze. CEL price spiked from $0.18  to $1.55 in one abrupt candle before sinking back to $0.60 within the same one-hour candle. CEL/USDT 1-day chart. Source: TradingView Currently, analysts are on the fence about the reason for the explosive price breakout. Some cite Celsius repaying a portion of its debts as a reason, while others…

Crypto Exchange Zonda to Expand into Italy

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Zonda, a regulated cryptocurrency platform, announced on Tuesday that it plans to enter the Italian market on June 15. According to the press release, the move will be led by Barnabas God, Chief  Marketing  Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers’ needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide…

Coinbase Triggers Explosive Rally for Ethereum-Based Altcoin As Exchange Announces Support for New Crypto Assets

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One altcoin focused on privacy and scaling solutions is surging after being added to top US crypto exchange Coinbase’s roster of assets. In an announcement, Coinbase says Marlin (POND) will start trading on Coinbase Pro paired with Tether (USDT) once appropriate liquidity conditions are met. Marlin is a high-performance “layer-zero” blockchain network that’s geared toward delivering high-quality infrastructure for the decentralized web. Calling itself “the unglamorous underbelly of the decentralized economy,” Marlin seeks to provide solutions for scaling and user privacy. The Marlin Foundry offers users the ability to leverage bandwidth…

Crypto exchange Coinbase slashes staff by 18% amid bear market

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Coinbase CEO Brian Armstrong officially announced on Tuesday that he made a “difficult decision” to reduce the size of the Coinbase team by about 18% due to a starting economic recession. “We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period,” Armstrong wrote. He added that the trading revenue significantly declined during past crypto winters, noting that Coinbase has survived through four major crypto winters since its foundation in 2012. Armstrong emphasized…

South Korean Crypto Exchanges to Create Body to Preempt Another Terra LUNA Type of Collapse – Exchanges Bitcoin News

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Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges. Screening Guidelines Five of South Korea’s leading domestic cryptocurrency exchanges have said they plan to create a consultative body whose mandate is to prevent the recurrence of a token collapse similar to that of the first iteration of Terra’s LUNA. The consultative body will achieve this by…

Binance resumes withdrawals as many retail crypto investors monitor exchanges

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Many social media users seem to be waiting for other crypto exchanges including Coinbase and Kraken to follow in Binance’s and Celsius’ footsteps by suspending withdrawals. Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility.  In an update during what many are calling cryptocurrency’s ‘Black Monday’, Binance said on its website the exchange would be processing Bitcoin (BTC) network withdrawals within “the next couple of hours” following the resumption of activity. The platform announced Monday that it had…

Beeks Announces the Launch of Exchange Cloud

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LSE-listed cloud computing connectivity provider for financial markets, Beeks Financial Cloud Group announced today that it has launched Exchange Cloud, an evolution of Proximity Cloud. The details shared by the company show that the launch will assist global financial exchanges in offering cloud solutions to end-users. The latest announcement from Beeks Financial Cloud Group came nearly 10 months after the company introduced Proximity Cloud, the industry’s first private cloud environment for financial markets. “Our product development has always been driven by customer demand, and we created Exchange Cloud specifically to…

Bitcoin (BTC) Flying off Exchanges Amid Price Stagnancy, According to Crypto Analytics Firm IntoTheBlock

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Despite ongoing price doldrums, investors continue to accumulate Bitcoin at a rapid pace to the tune of hundreds of millions of dollars worth of BTC, according to crypto analytics firm IntoTheBlock. In a new analysis, Lucas Outumuro, head of research at IntoTheBlock, notes that centralized exchanges witnessed $730 million worth of BTC net outflows in the past week, on the heels of $1 billion worth of outflows the week before. According to the analytics firm, net outflows are the total amount of Bitcoin leaving crypto exchanges minus the number of…