Tag: Trading

Crypto Trading Volume Hits 4-Year Low

Crypto spot trading is at its lowest level since March 2019, according to digital assets data provider CCData, shedding some light on the soporific state of the market. Spot trading volume on centralized exchanges fell 7.78% to $475 billion in August, while volume in derivatives fell over 12% to $1.62 trillion, the second-lowest since 2021. An event such as Grayscale’s court victory over the SEC last week would have been expected to stoke a rally in crypto prices, but even this failed to spur traders into activity. “The low spot…

DCG-backed Genesis Global Trading to Shut Down US Crypto Spot Trading by September 18

The decision by Genesis Global Trading (GGT) to wind down its business was reportedly voluntary and is currently working with regulators to ensure an orderly closure of services. Genesis Global Trading (GGT), a subsidiary of Barry Silbert’s Digital Currency Group that owns Grayscale Investments, has written a letter to its clients that it will be shutting down its crypto spot trading services by Monday, September 18, 2023. However, the company noted that the spot and derivatives trading services through GGC International Limited will remain operational. As a result, Genesis Global…

US-based Genesis Global Trading will eliminate its crypto spot trading service

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Genesis Global Trading (GGT) will close down its cryptocurrency spot trading service on Sept. 18, according to press reports. GGT is affiliated with the Digital Currency Group (DCG), but it was not affected when the parent company’s crypto lender, Genesis Global Capital, declared bankruptcy in January.  The GGT trading shutdown is voluntary, Bloomberg reported, quoting a company spokesman as saying: “This decision was made voluntarily and for business reasons. We are working closely with regulatory authorities to coordinate an orderly discontinuation of services.” GGT began trading in 2013, according to…

London Stock Exchange Operator in Talks With Government To Launch New Blockchain-Powered Trading Venue: Report

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The London Stock Exchange Group (LSEG) is developing a new blockchain-powered trading venue, according to a new report. Murray Roos, a group head of capital markets at LSEG, tells the Financial Times that his company is “definitely not building anything around crypto assets.” Rather, Roos says they plan to use blockchain technology to make traditional asset trading more efficient. “The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent… and to have it regulated.” LSEG operates the London Stock Exchange, one…

Genesis to Close Its US-Based Cryptocurrency Trading Desk

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Genesis Global Trading (GGT), which focuses on spot cryptocurrency trading in the United States, is set to cease its operations later this month, as indicated in an email sent to its clients on Tuesday. GGT plans to shut down its over-the-counter trading platform on September 18. All ongoing trades must be settled by September 21, and any remaining open accounts will be officially closed by the end of the day on September 30. The email communicated that this decision was made voluntarily and for business-related reasons, media reports said. It’s…

Over 41% of trading venues offer crypto services, survey reveals

A World Federation of Exchanges survey found that 41% of the participating trading venues already offer crypto-related services or products. Furthermore, according to the survey results published on Sept. 5, 24% of the platforms without such offerings plan to offer crypto-related products or services. The study was focused on cryptocurrency trading infrastructure and included comments from 29 trading venues. While most platforms already offer crypto products or services to their customers or plan to, over a third do not have such plans. The World Federation of Exchanges also found that…

40% of crypto trading platforms are decentralized: World Federation of Exchanges

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A report from the World Federation of Exchanges (WFE) noted that 40% of the crypto trading platforms are decentralized and make use of distributed ledger technology. On the other hand, the majority, or 60%, of platforms make use of Central Limit Order Books (CLOBs), quite similar to regulated exchange platforms. The WFE report noted that there are a total of 500 crypto trading platforms offering various crypo linked products and services. The survey saw participation from several crypto platforms offering key insights into retail and institutional demands. The report noted…

Deribit Sees 17% Growth in Crypto Derivatives Trading Volume in August, Led by Options

“The resilience can be attributed to the strong performance of our options segment. Notably, ETH options recorded their highest volumes since March of this year. Meanwhile, BTC continues to show strength, initially buoyed by its use as a banking system hedge in March and now further invigorated by the upcoming ETF decision,” Luuk Strijers, chief commercial officer at Deribit, told CryptoX. Source AugustCryptoDeribitDerivativesgrowthLedoptionsSeesTradingVolume CryptoX Portal

Trading Hype Versus Price Reality, What Lies Ahead?

XRP, the fifth-largest cryptocurrency in the market, has entered a phase of macro consolidation following a significant decline that began on July 20. This consolidation has maintained the token’s price within a range of $0.4858 and $0.5505, before Ripple Labs’ legal victory against the US Securities and Exchange Commission on July 13.  XRP Consolidation Continues Despite Strong Trading Activity According to insights from crypto market data provider Kaiko, XRP demonstrated extreme trade volume during the summer. XRP’s average trade volume in the previous month reached $462 million, four times higher…