Flash crashes aren’t unusual in cryptocurrencies, although it is often difficult to explain why many holders of an asset suddenly decide they want to sell. In BGB’s case, the catalyst was likely “overall market sluggishness” stemming from holidays and Golden Week in Asia, among other factors, said Ryan Lee, chief analyst at Bitget Research, in an email. Source
Analysts believe that, in the future, outflows derived from cryptocurrency purchases could affect the domestic exchange rate in Brazil. The Central Bank of Brazil indicates that crypto assets and recreational services account for $14.7 billion that flowed out of Brazil through August, hinting at the use of virtual assets as payment tools. Cryptocurrency Outflows Dangerous […] Source
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Toncoin loses investor interest due to a negative funding rate, while TRON gains momentum, surpassing Bitcoin and Ethereum. Toncoin (TON) is quickly losing investor interest due to its negative funding rate, but TRON is picking up bullish momentum after surpassing Bitcoin and Ethereum in terms of Q3 revenue. Meanwhile, savvy investors are more interested in Lunex Network’s viral DeFi exchange with its unique cross-chain interoperability. Toncoin’s negative funding rate…
Este artículo también está disponible en español. Following a major price decline in Bitcoin (BTC), market sentiment dropped back to strong levels of fear, indicating that investors are becoming increasingly cautious and risk-averse. Despite this trend, on-chain data analytics provider CryptoQuant has revealed a significant increase in BTC buying momentum, resulting in the Bitcoin balances on various exchanges dropping to six-year lows. Related Reading Bitcoin Reserve On Exchanges Sees Sharp Plunge With ongoing market volatility and the recent decline in Bitcoin, on-chain data has identified a significant shift in the…
New data from blockchain tracker CCData show that the market share of the world’s largest crypto exchange slid to its lowest level in four years. CCData says that in September, Binance’s share in the derivatives market dropped to 40.7%, its lowest since September 2020. Its overall market share in the combined spot and derivatives markets also fell to 36.6%, the lowest in the last four years. Spot trading volume on the platform likewise dropped by 22.9% to $344 billion, the lowest since November 2023 and representing Binance’s lowest spot market…
Coinbase, the second biggest exchange, after Bybit, according to CoinGecko data, has been racing alongside other companies to become compliant with the European Union’s MiCA rules which require firms to be authorized in at least one EU country. Rules for stablecoins came into force on June 30, which require stablecoin issuers to have an e-money license in an EU member state to be able to operate in the bloc of 27 nations. Source
Deputy Chairman of the State Duma Alexander Babakov proposed creating a unified BRICS exchange using blockchain and virtual currency for inter-bloc settlements. Babakov stated that such an organization “will be the key to the economic sovereignty and independence of our countries,” while sidestepping the use of third-party payment networks. Newly Proposed BRICS Unified Exchange May […] Source
“Ripple Payments offers unique capabilities that are important to crypto businesses enabling them to streamline operations, optimize liquidity, and ultimately improve margins through real-time payment settlement,” said Silvio Pegado, Ripple’s managing director for Latin America, in a statement. Source
A cross-chain protocol’s altcoin is soaring after Korea’s biggest crypto exchange announced support for trading. Messaging protocol Wormhole (W) shot up from a 24-hour low of $0.28 to a current value of $0.37, a more than 32% increase after crypto exchange Upbit announced support on the Solana (SOL) network. With a market cap of $959.7 million, Wormhole is now the 82nd largest crypto project. Wormhole aims to facilitate an efficient transfer of liquidity and data across various blockchains. Wormhole was launched in 2020 by Jump Crypto with help from the…
Bithumb, one of South Korea’s largest cryptocurrency exchanges, is considering a listing on the U.S. Nasdaq exchange after shelving its initial plans for an IPO on the South Korean KOSDAQ market. The decision was discussed during a shareholder meeting on September 30, 2024, as part of Bithumb’s strategy to expand into the U.S. market. The […] Source