Tag: Trading

Binance’s Bitcoin volume plummets after end of zero-commission trading

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The drop in Bitcoin (BTC) activity on Binance, a cryptocurrency exchange, has been attributed to the removal of zero-commission trading in September. Bloomberg experts noted a 26% drop in average seven-day volume since the start of September. TrueUSD ended commission-free trading of BTC and stablecoins on Sep. 7, resulting in an 89% decline in the average seven-day volume of this trading pair. Additionally, Binance has seen withdrawals of approximately 12,230 BTC worth $330 million since August, along with an outflow of approximately 198,200 Ethereum (ETH) worth about $323 million. Bitcoin…

Crypto Trading Titans Are Yelling at Each Other on Elon Musk’s X

It’s all just words, of course, but the public quarrel is a reminder of DWF’s sudden emergence earlier this year. The company quickly and loudly popped up as a backer of startups. But there was soon debate around whether it was really engaging in venture capital investing, as some thought, or something less long-term: acting like an over-the-counter trading desk, approaching projects with the offer of buying up its tokens, then trying to sell them for a profit. Source

Instacart (CART) Shares Fall 11% on Second Trading Day Nearly Erasing All Debut Gains

Shares of Instacart are currently struggling to keep up with the rise recorded in the company’s debut on the Nasdaq. Instacart (NASDAQ: CART) shares have crashed almost 11% on its second day of trading, nearly erasing all of its IPO gains. As of writing time, Maplebear Inc., doing business as Instacart, is trading at $29.85, a 0.83% reduction from its $30.10 close. The grocery delivery company debuted on the Nasdaq on Tuesday and spiked 40% to $42 shortly after opening. However, Instacart shares retraced some of the gains and eventually closed the day…

INX Digital to list Unicoin security token on its trading platform

INX Digital Company Inc. announces the upcoming listing of asset-backed Unicoin security token on INX.One, expanding its regulated assets portfolio.  A U.S.-regulated broker-dealer, INX Digital Company divulged its plans through an official press release. Unicoin is set to join INX’s regulated trading platform that specializes in crypto and tokenized assets. A strategic partnership The Deputy CEO and COO of INX, Itai Avneri, lauded Unicoin’s innovative approach to investment. Noting the diversity of its global investor base, Avneri emphasized that the new listing will enhance the trading liquidity of listed tokenized…

Australian regulator sues Kraken provider over margin trading product

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The Australian Securities and Investments Commission (ASIC) has commenced civil penalty proceedings against Bit Trade, the provider of the Kraken crypto exchange in Australia, for failing to comply with design and distribution obligations for one of its trading products.  According to a Sept. 21 media release from ASIC, the Australian financial regulator alleged that Bit Trade did not make a target market determination before offering its margin trading product to Australian customers. Design and distribution obligations (DDO) are a legal requirement for firms that offer financial products in Australia. The obligations…

Report Says Ethereum Is Trading Well Below Fair Value, What’s The Correct Figure?

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Ethereum’s price may have been dealt a massive blow as a research report on the Ethereum valuation has revealed that the cryptocurrency giant has been trading below its fair price. Ethereum Trading Value Slips A new on-chain research report has delved deep into the fair value of the Ethereum cryptocurrency since its inception, segregating the cryptocurrency’s value into sections and utilizing its trading activities and active addresses to evaluate the network’s worth over the past years.  Lewis Harland, an RxR analyst, revealed in the research report that Ethereum has been…

Apple, Goldman Sachs drop plans for trading app: Report

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Apple and Goldman Sachs scrapped plans to launch an app for futures trading, CNBC reported on Sept. 19, citing people familiar with the plans.  The project had an initial rollout date for 2022, but it was put on hold last year as economic conditions deteriorated, with a rise in interest rates and inflation pressures driving investors away from risky assets. According to the sources, the project infrastructure was “mostly built” and is ready for launch if Apple proceeds with its original plan. Additionally, it is unclear whether Goldman and Apple…

Discord crypto trading bot shuts down after ‘critical exploit’

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None Trading, a trading tool for cryptocurrencies and nonfungible tokens built on Discord, has shut down due to a “critical exploit” within its infrastructure. According to the September 20 announcement, None Trading developers said that it has “lost a significant amount of funding” as well as “team tokens” crucial for its operations. “Alongside this, we have lost 3 core team members that are required to keep the project running healthily. This unfortunate incident has put us in a financial and infrastructural position that makes it simply impossible to continue running…

BNB Trading Sideways – Is Stagnation Likely Until October?

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Binance Coin (BNB) finds itself in a state of limbo as it extends its sideways pattern on the lower timeframes. BNB has been treading water for nearly a month, caught in a tight range between the support at $205 and a stubborn resistance zone spanning $220 to $225.  While on-chain metrics hint at the potential for a short-term price surge, BNB bulls are grappling with the challenge of breaking free from this extended sideways pattern. As of the latest data from CoinGecko, BNB is currently priced at $216.74, with a…

Binance’s Bitcoin trading volume declined by 57% in September 

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Amid escalating regulatory scrutiny and legal challenges, Binance experienced a 57% drop in its weekly Bitcoin trading volume since the beginning of the month, signaling potential turbulence for the world’s largest cryptocurrency exchange. This downturn coincides with mounting legal challenges and increased regulatory oversight targeting the exchange on a global scale. Regulatory struggles continue for Binance The exchange has been grappling with a series of legal and regulatory setbacks, including lawsuits, license denials, and voluntary market exits. Authorities from the U.S. Department of Justice are said to be considering filing…