Category: Exchanges

U.S. Crypto Exchange Volumes Fall Alongside Prices

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Cryptocurrency exchanges are the most battered alongside the recent fall in digital asset prices as trading volumes fall off as well Traders are sitting on the sidelines either way, with buying activity keeping the support of US$40,000 intact for now, but without any major catalyst to see a fresh uptick Unlike the traditional financial markets, a sharp drop off in volume on cryptocurrency exchanges can mean that investors have suddenly turned to “hodling” instead of trading and while this may mean bad news for exchanges which make fees from trading…

Crypto Exchange Giant Lists Privacy-Focused Altcoin Amid Market Jitters

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One altcoin that’s bringing privacy and scalability to decentralized finance (DeFi) just got a surprise listing on the Crypto.com digital currency exchange app. In a new blog post, Crypto.com says that users can purchase Oasis Network (ROSE) using USD, EUR, GBP and nearly two dozen other fiat currencies. According to the announcement, “The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Their aim is to fix the high transaction fees and slow throughput currently plaguing other layer-1 networks in DeFi.” The Oasis…

Autonomy Network Introduces AutoSwap That Offers Stop Losses and Limit Orders on Decentralized Exchanges

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On January 7, Autonomy Network, a DeFi protocol, announced the launch of a unique decentralized application (DApp) known as ‘AutoSwap’ on Binance Smart Chain (BSC)    blockchain  Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only…

Exchange Supply of Ethereum (ETH) Drops 47% in 2 Years

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Global adoption, institutional inflows, and the DeFi boom played a vital role in the substantial price jump of Ethereum. However, one factor which didn’t receive much attention is ETH’s exchange supply ratio. During the last 2 years, ETH whales shifted an enormous amount of Ethereum from digital trading platforms to cold crypto wallets. As a result, Ethereum’s exchange supply decreased by almost 47%. On the other hand, BTC also witnessed a substantial dip in its exchange supply. “Bitcoin’s and Ethereum’s respective exchange supplies indicate that the previous 2 years have…

Exchange Token Soars 28% After Crypto Giant Binance Announces Eight-Figure Investment

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One exchange altcoin is enjoying big intraday gains after a sizeable long-term investment from crypto behemoth Binance. Today, Binance Labs announced a $12,000,000 investment in the WOO Network (WOO). “Binance Labs invested $12 million in WOO Network as the two parties expand their long-standing relationship. The investment will support WOO Network’s rapid expansion through talent acquisition, research and development, and the development of new decentralized products.” Binance Lab’s eight-figure investment in the liquidity provider follows WOO’s $30,000,000 fundraising round in November 2021. “WOO Network’s Series A+ fundraising round comes on the heels…

GIBX Swap: the future of cryptocurrency

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As we begin a new year and with the crypto market’s capitalization showing some signs of    volatility  Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing…

Bitcoin exchange balances trend back to historic lows as BTC withdrawals resume in January

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Bitcoin (BTC) exchange reserves are back near record lows as 2022 sparks renewed appetite among buyers. Data from on-chain analytics firm CryptoQuant shows reserves across 21 exchanges at 2.308 million BTC as of Jan. 4. Exchanges return to overall BTC balance downtrend Late December saw a macro low of 2.303 million BTC left on exchanges’ books, CryptoQuant recorded, before a brief uptick to 2.334 million. Bitcoin exchange reserves chart. Source: CryptoQuant As institutional entities return to the market after the holiday period, however, the downtrend has resumed, this in line…

Raids on 6 Indian Crypto Exchanges Uncovered $9.4M in Unpaid Taxes

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Indian tax authorities have raided around half a dozen of the country’s biggest cryptocurrency exchanges under the suspicion of tax evasion. Some of the raided exchanges are CoinSwitch Kuber, CoinDCX, BuyUCoin and Unocoin. According to the sources of local media, the crackdown by the Mumbai CGST and DGGI has detected tax evasion of more than $9.41 million by the Indian exchanges. “These service providers were charging a commission for their facilitation to indulge in exchange of bitcoins but were not paying GST tax. These transactions were intercepted by DGGI and…

Over $467,000,000 Worth of Bitcoin Leaves Crypto Exchange Coinbase in Just One Week: Analytics Firm Coinglass

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New data from a crypto intelligence platform reveals that nearly 10,000 Bitcoin (BTC) left US-based crypto exchange Coinbase in the last seven days. Coinglass shows that Coinbase Pro users collectively withdrew 9,951 BTC worth $467.28 million in the last week alone as Bitcoin continues to struggle below the $50,000 level. The analytics firm also shows that Seychelles-based digital asset exchange OKEx recorded outflows of 2,196 BTC worth $103.12 million over the same timeframe. In the last 24 hours, OKEx users withdrew 748 BTC worth $35.12 million. While Coinbase and OKEx…

Ex-Head of Crypto Exchange Wex Released in Poland – Bitcoin News

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Former chief executive of the Russian cryptocurrency exchange Wex, Dmitry Vasiliev, has been released from arrest in Warsaw earlier this month. The ex-head of the now-defunct coin trading platform has since returned to Russia while court proceedings against him in Poland are still ongoing. Polish Court Rejects Extradition of Wex Executive to Kazakhstan Authorities in Poland have released Dmitry Vasiliev, the man who was at the helm of Wex, once Russia’s largest cryptocurrency exchange. The 34-year-old native of Belarus was detained at the Warsaw airport on Aug. 11, initially for…