hacklink hack forum hacklink film izle hacklink mamibet loginmamibetmamibet loginqqmamibetjojobetbetciobetcioholiganbetmegabahis

Crypto Shuttle News

Tag: Volume

  • Bitget’s Crypto Trading Volume Surges over 100% in Q1 2024

    Bitget’s Crypto Trading Volume Surges over 100% in Q1 2024

    [ad_1]

    Bitget, one of the biggest cryptocurrency exchanges by volume, has released its Q1 2024 Transparency Report, revealing visible growth across various metrics. The
    report highlighted a 100% increase in both spot and futures trading volumes
    compared to previous quarters, along with a significant rise in the value of
    its platform native token, BGB.

    According
    to the report, Bitget’s futures trading volume reached approximately $1.4
    trillion, an escalation of 146% from the previous quarter. The exchange witnessed the
    highest increase in derivatives market share, with a growth of 2.4% in March
    alone. The spot trading volume also saw a substantial uplift of 113%, surpassing
    $60 billion in Q1 2024.

    According to an independent report by Finance Magnates Intelligence, these figures coincide with the overall boost in volumes across the cryptocurrency industry.
    In March, spot volumes for the largest cryptocurrency exchanges grew 119%
    compared to the previous year and over 100% compared to February.

    Bitget’s
    user base has expanded significantly, now serving over 25 million users
    across 100+ countries and regions.

    “This
    year, Bitget is doubling down on its commitment to enhance our spot market
    offerings,” Gracy Chen, the Managing Director of Bitget, commented. “We aim not
    only to bolster our market position but also to contribute tremendously to the
    broader crypto ecosystem, supporting startups with high potential to
    grow.”

    Bitget Bets on Its Crypto
    Token

    The
    platform’s native token, BGB, had a really good run last quarter, breaking its
    all-time high and surpassing the $1 mark in February. Since the beginning of
    2023, BGB has delivered gains of 434%, outperforming Bitcoin and establishing
    itself as a top performer among centralized exchange tokens.

    Currently,
    it is one of the 70 largest cryptocurrencies, with a market capitalization of
    over $1.8 billion and a daily trading volume of $81 million. Binance exchange’s BNB token has a market capitalization of $89 billion.

    Bitget’s listing
    strategy led to the introduction of 186 new tokens in the first quarter,
    expanding its offerings to over 750 tokens and 820 spot trading pairs. Several
    tokens, such as XAI, GPT, and PIXEL, experienced extraordinary growth, surging
    over 3000%.

    According
    to the latest exchange report, more people are trading
    cryptocurrencies in Europe. In Germany alone, the number of traders has
    escalated 69% over the year.

    In the meantime,
    Bitget Wallet hired a new Chief Operating Officer, Alvin Kan, to accelerate its global
    expansion.

    Bitget, one of the biggest cryptocurrency exchanges by volume, has released its Q1 2024 Transparency Report, revealing visible growth across various metrics. The
    report highlighted a 100% increase in both spot and futures trading volumes
    compared to previous quarters, along with a significant rise in the value of
    its platform native token, BGB.

    According
    to the report, Bitget’s futures trading volume reached approximately $1.4
    trillion, an escalation of 146% from the previous quarter. The exchange witnessed the
    highest increase in derivatives market share, with a growth of 2.4% in March
    alone. The spot trading volume also saw a substantial uplift of 113%, surpassing
    $60 billion in Q1 2024.

    According to an independent report by Finance Magnates Intelligence, these figures coincide with the overall boost in volumes across the cryptocurrency industry.
    In March, spot volumes for the largest cryptocurrency exchanges grew 119%
    compared to the previous year and over 100% compared to February.

    Bitget’s
    user base has expanded significantly, now serving over 25 million users
    across 100+ countries and regions.

    “This
    year, Bitget is doubling down on its commitment to enhance our spot market
    offerings,” Gracy Chen, the Managing Director of Bitget, commented. “We aim not
    only to bolster our market position but also to contribute tremendously to the
    broader crypto ecosystem, supporting startups with high potential to
    grow.”

    Bitget Bets on Its Crypto
    Token

    The
    platform’s native token, BGB, had a really good run last quarter, breaking its
    all-time high and surpassing the $1 mark in February. Since the beginning of
    2023, BGB has delivered gains of 434%, outperforming Bitcoin and establishing
    itself as a top performer among centralized exchange tokens.

    Currently,
    it is one of the 70 largest cryptocurrencies, with a market capitalization of
    over $1.8 billion and a daily trading volume of $81 million. Binance exchange’s BNB token has a market capitalization of $89 billion.

    Bitget’s listing
    strategy led to the introduction of 186 new tokens in the first quarter,
    expanding its offerings to over 750 tokens and 820 spot trading pairs. Several
    tokens, such as XAI, GPT, and PIXEL, experienced extraordinary growth, surging
    over 3000%.

    According
    to the latest exchange report, more people are trading
    cryptocurrencies in Europe. In Germany alone, the number of traders has
    escalated 69% over the year.

    In the meantime,
    Bitget Wallet hired a new Chief Operating Officer, Alvin Kan, to accelerate its global
    expansion.



    [ad_2]

    Source link

  • Proshares’ Bitcoin ETF sees $1B in first day volume, BTC price hits new high, and Coinbase partners with NBA and WNBA: Hodler’s Digest, Oct. 17-23

    Proshares’ Bitcoin ETF sees $1B in first day volume, BTC price hits new high, and Coinbase partners with NBA and WNBA: Hodler’s Digest, Oct. 17-23

    [ad_1]

    Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

    Top Stories This Week

    Bitcoin officially hits new all-time high above $65K

    Bitcoin (BTC) surged to new all-time highs this week, breaking the former ceiling of $64,900 from April as the asset went into price discovery mode before topping out around $67,000.

    The bullish momentum coincided with the successful launch of ProShares’ Bitcoin futures-based exchange-traded fund (ETF). Many onlookers are expecting the price to increase in the coming weeks and months, with the more optimistically inclined even suggesting that up to $300,000 is possible in the near future. 

    With Bitcoin’s market capitalization dominance at its highest since mid-May, many popular traders have stressed that now is the time to put a focus on digital gold and put the altcoin market on the back burner for the moment.

     

    ProShares Bitcoin-linked ETF launches on NYSE

    ProShares achieved a major milestone for the crypto sector this week after the firm debuted its Bitcoin futures-based ETF (BITO) on the New York Stock Exchange (NYSE) on Tuesday. 

    ProShares’ Bitcoin Strategy ETF saw around $1 billion in volume on its opening day, with Bloomberg analysts stating that it was arguably the largest first-day volume for an ETF in terms of “natural” or “grassroots interest.” 

    After two days on the NYSE, Proshares’ ETF became the fastest fund ever to reach $1 billion in assets under management. Following Proshares’ ETF, many onlookers are waiting to see how the next in line performs. At the time of writing on Friday, Valkyrie just launched its Bitcoin futures ETF on the NYSE.

     

    Coinbase announces multiyear partnership with NBA and WNBA

    Top crypto exchange Coinbase has penned a deal with the NBA, WNBA, NBA G League, NBA 2K League and USA Basketball as part of a multiyear sponsorship deal. As part of the deal, Coinbase will work to educate basketball fans on crypto.

    According to the NBA, Coinbase will create “unique content, innovations, activations and experiences” to help basketball fans to learn about the crypto space. The firm’s branding will also appear during the televised games.

    The move could be a real “slam dunk” for the industry in terms of mainstream adoption, with data from Statista showing that an average of 1.6 million people watched NBA regular-season games across major networks during the 2019–2020 season.

     

    Mariah Carey buys Bitcoin, hopes to empower fans through education

    Mariah Carey, the pop icon behind the divisive Christmas song “All I Want For Christmas Is You,” has partnered with the Winklevoss twins’ crypto exchange Gemini to promote Bitcoin adoption and support girls of color in their pursuit of STEM degrees — a broad education category that refers to science, technology, engineering and mathematics. 

    In a video to her 10.2 million Instagram followers, Carey said she’s a Bitcoin investor and offered her fans a referral code to redeem a whopping $20 in free BTC. 

    Her promo deal is linked to charitable causes, as users who sign up through the referral link and trade digital assets on Gemini will be contributing directly to Black Girls Code, a nonprofit organization that provides technology education for African-American girls.

     

    Brazilian toddler makes over 6,500% profit on her first Bitcoin holding

    A four-year-old hodler from Brazil has earned more than 6,500% in profit on her first Bitcoin. The girl’s father, João Canhada, gifted 1 BTC to his newborn in 2017 when the asset was priced at around $915. 

    Canhada is the founder of Brazilian crypto exchange Foxbit, and stated that he bought his daughter Bitcoin not just as a gift, but as a “way of investing” in the emerging crypto sector. It appears that he was at the right place at the right time, as the price of Bitcoin went on to surge to $20,000 at the tail end of 2017.

    While there have been many bumps along the road, Bitcoin was worth around $61,000 at the end of the week, suggesting her profit now sits at roughly 6,560%.

     

     

    Winners and Losers

     

     

    At the end of the week, Bitcoin (BTC) is at $60,658, Ether (ETH) at $3,963 and XRP at $1.09. The total market cap is at $2.51 trillion, according to CoinMarketCap.

    Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are OKB at 71.25%, Nexo (NEXO) at 33.80% and Huobi Token (HT) at 33.70%.

    The top three altcoin losers of the week are Flow (FLOW) AT -21.20%, Celsius (CEL) at 14.00% and Perpetual Protocol (PERP) at -13.14%.

    For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

     

     

    Most Memorable Quotations

     

    “If left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions.”

    U.S. Department of the Treasury

     

    “We’ve got a lot of smart guys working at Icahn & Company, and we just don’t understand Bitcoin. I’m not saying it’s bad or good, I’m just saying we don’t understand it. We’re not going to invest in something we don’t get. […] The jury is really out on whether Bitcoin has intrinsic value or acts as a store of value. If inflation gets rampant, I guess it does have value. There are so many variables, it is a very difficult thing to invest in.”

    Carl Icahn, founder of Icahn Enterprises 

     

    “There’s a lot of history here. We think it’ll track quite well and, most importantly, we think that a combination of a regulated futures market and a 40-act ETF will really open up the opportunity to conveniently get Bitcoin exposure to a lot of folks who may have been waiting on the sidelines.”

    Simeon Hyman, head of investment strategy at ProShares

     

    “To protect consumers and reduce costs, we encourage the streamlining of state-level regulatory frameworks for stablecoins and the issuance of special-purpose charters by federal banking regulators for stablecoin companies seeking to operate nationally.”

    The Chamber of Digital Commerce

     

    “DAOs do not clearly fall within any of Australia’s existing company structures. […] This regulatory uncertainty is preventing the establishment of projects of significant scale in Australia.”

    The Senate Committee on Australia as a Technology and Financial Center (ATFC)

     

    “Diem is not Facebook. We are an independent organization, and Facebook’s Novi is just one of more than two dozen members of the Diem Association. Novi’s pilot with Paxos is unrelated to Diem.”

    Diem

     

    “We’ve made a lot of noise in the last few months about getting hyperactive in cryptocurrency.”

    Adam Aron, CEO of AMC

     

    “AI, especially the sort of low-tech, surveillance form, is essentially communist.”

    Peter Thiel, co-founder of PayPal

     

    Prediction of the Week 

     

    Traders brace for a drop to $58K if Bitcoin price loses the $62K support

    Bitcoin’s price favored north this week. According to Cointelegraph’s BTC price index, the asset broke its previous all-time high just shy of $65,000, going on to reach $67,000 amid a week filled with Bitcoin ETF headlines. Bitcoin cooled off following its surge, however, dropping back down to the low $60,000s. 

    Several people weighed in on potential upcoming price action for Bitcoin. The Twitter account for E-Club Trading, an investment analysis organization, mentioned a level around $58,000 as one potential landing zone if Bitcoin loses the $62,000 level. 

    BTC could also possibly ride right up to $80,000, or it could visit $58,000 or $53,000 first prior to pushing for $80,000, ExoAlpha chief investment officer David Lifchitz noted.

     

    FUD of the Week 

     

    New York businesses ask governor to deny permits for crypto mining

    New York Governor Kathy Hochul received a letter this week urging her to deny permits enabling the conversion of the city’s old fossil-fuel power plants into crypto mining centers. The power plants in question are the Greenidge Generating Station and Fortistar North Tonawanda Facility, which now are the target of ambitions to mine and hodl at full throttle.   

    The letter was co-signed by a long list of local organizations, businesses and labor groups, who banded together to voice their concerns over the energy-intensive poof-of-work crypto mining model. 

    “Proof-of-Work cryptocurrency mining use enormous amounts of energy to power the computers needed to conduct business — should this activity expand in New York, it could drastically undermine New York’s climate goals established under the Climate Leadership and Community Protection Act,” the letter read.

     

    NYAG directs 2 crypto firms to shut down, investigates 3 others

    Speaking of New York, the state’s attorney general’s office went after five local crypto firms on Monday, ordering two unnamed companies to shut down operations, while launching investigations into the other three. 

    The attorney general’s office alleged that the two firms engaged in unlawful activities, and requested details on the other firm’s lending products, policies, procedures, clients in the state and other relevant information.

    One of the three crypto lending firms under investigation is Celsius Network, with the firm confirming the news in a blog post on Tuesday. Celsius said it is “working on providing regulators in New York” with info regarding its business.

     

    Senators pressure Facebook to ‘immediately discontinue’ Novi wallet pilot

    In what may or may not be FUD depending on one’s views towards Facebook, the social media giant was urged by five U.S. senators to halt its crypto wallet just hours after its pilot program went live this week. 

    Facebook’s Novi wallet launched a pilot in the United States and Guatemala on Tuesday in partnership with Coinbase, but the group of senators, which included crypto skeptic Elizabeth Warren, weren’t having it. In a letter sent to Facebook CEO and meat-smoking enthusiast Mark Zuckerberg, the senators voiced their “strongest opposition to Facebook’s revived effort to launch a cryptocurrency and digital wallet.”

    “Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient,” the letter read.

     

    Best Cointelegraph Features

    The crypto industry royally screwed up privacy

    Sadly, there are several reasons why the blockchain community has fallen short in making privacy a tier-one priority, and that must be changed.

    Lushsux: A decade of ass-whoopin’ and skullduggery in a single NFT

    “Generally, when I’ve got things successful, it’s just through a bit of skullduggery.”

    Bitcoin futures ETFs: Good, but not quite there

    With a Bitcoin futures exchange-traded fund, getting exposure to the world’s largest cryptocurrency will be easier than ever.

    [ad_2]

    Source link

  • Ethereum CME Open Interest, Why Trading Volume Ballooned

    Ethereum CME Open Interest, Why Trading Volume Ballooned

    [ad_1]

    Ethereum has been slowing down on its bullish momentum. The second cryptocurrency by market cap trades at $3,066 with a 4.2% loss in the daily chart.

    Ethereum ETH ETHUSD
    ETH moving sideways in the daily chart. Source: ETHUSD Tradingview

    After two weeks of profits and an incredible rally from the low at $2,000, mostly driven by the implementation of EIP-1559, Ethereum could see some downside in the short term.

    The In/Out of the Money Around Price (IOMAP) metric, used to measure the average purchase price of a crypto asset and compared it to its current price, from IntoTheBlock suggests Ethereum sits at “stable support”.

    Analyst Ali Martinez shared the chart below and indicated that over 230,000 addresses bought 7,33 million ETH between $2,970 and $3,080. Thus, ETH’s price must hold above these levels to prevent a bearish trend in the short term. Martinez added:

    Any downswing below this price range could encourage investors to book profits quickly before their investments go “Out of the Money.”

    Ethereum ETH ETHUSD
    ETH’s price IOMAP. Source: IntotheBlock via Ali Martinez

    One of the key drivers for Ethereum has been institutional adoption that sees great potential in its ecosystem. Additional data provided by Arcane Research suggests adoption is still on the rise with ETH-based derivatives on the rise.

    The research firm has recorded an increase in open interest (OI) for Ethereum futures on the Chicago Mercantile Exchange (CME). The ETH trading volumes have been gaining dominance and stand at around 30% of Bitcoin (BTC) and the open interest at 27%.

    The OI of CME’s EH futures currently sits at an all-time high of $650 million. The OI of the bitcoin futures sits at $1.8 bn but is down substantially from its Feb 18th peak of $3.3 billion. Ether futures now account for 26.5% of the total OI in CME’s crypto futures.

    Ethereum ETH ETHUSD
    Source: Arcane Research

    Ethereum Takes Market Share Away From Bitcoin

    The OI also suggests that institutions are “eagerly” building up their Ethereum (ETH) positions at the moment, Arcane Research said. Most likely, a consequence of the EIP-1559 and the expectations of future appreciation due to the network’s new fee model.

    ETH ETHUSD
    Source: Arcane Research

    As the chart shows, ETH futures trading volume has been on a rise since mid-April 12 and only slow down during May and July’s crypto market crash. During this time Ethereum went as low as $1,650 but was able to quickly recover both in price and in the aforementioned metric.

    The daily trading volume of the CME ETH futures has also seen a significant uptick in market share recently. On Friday, Aug 13th, the trading volume of the ETH futures accounted for 33% of the total trading volume in CME’s crypto futures. With the increased dominance of the ETH futures and the growing contango, a bullish sentiment around ETH among institutional investors seems to be brewing.



    [ad_2]

    Source link

  • Bitcoin Short Squeeze Revives Trading Volume And Volatility

    Bitcoin Short Squeeze Revives Trading Volume And Volatility

    [ad_1]

    After what seems like a thousand years of stability and a slight downtrend, bitcoin is back. Volatility is wreaking havoc. Trading volume seems to be picking up steam. And, more importantly, the community’s morale is climbing up. In any case, what do the data and the on-chain analysis say? Are the numbers high enough to justify the excitement? Let’s explore them.

    BTCUSD price chart for 07/27/2021 - TradingView

    BTC price chart for 07/27/2021 on Bitstamp | Source: BTC/USD on TradingView.com

    Trading Volume Is Climbing, But, Is It A Trend?

    According to Arcane Research, “On Monday, the daily trading volume in bitcoin reached $9.2 billion, which is the highest daily trading volume in bitcoin recorded since June 22nd.” That could be a good sign of a healthy market making a recovery, but hold your horses. The market had been stagnant for a while, and not only that, before the spike we had “Four consecutive days bellow $3 billion.”

    Related Reading | Bitcoin Trading Volume Plunges To Lowest Level Since 2020

    Even though $9.2M is a promising number, take into account that “Overall, the 7-day average trading volume remains substantially below its yearly average and trading activity in bitcoin seems to be low so far this summer.” From where we stand, there’s no way of knowing if the market is picking up or if we are witnessing a statistic anomaly. We’ll have to wait and see.

    Trading Volume BTC chart

    BTC Daily Volume is rising | Source: Arcane Research

    Volatility Is Back In Action, But, Is It Here To Stay?

    Even though traditional finance is afraid of it, the Bitcoin community thrives on volatility. And, again according to Arcane Research, “Yesterday, the markets moved towards the upside, leading the 7-day volatility to climb above the 30-day volatility.” So, volatility is back, but, are we off to the races? Don’t be so sure.

    “Last summer, a similar event occurred when bitcoin was consolidating throughout the summer on declining volatility, before seeing a sudden 11% gain on July 27th, 2020. Then, the market corrected back toward the lower end of the consolidation range quickly thereafter and remained within its consolidation range throughout the summer.”

    Are we in the same cycle, though? So far, 2021 has been insane for Bitcoin. All the predictions fell through. All the models seem to be failing. And there’s hope. The bull run might be over, but it also might not. And if we are still in the bull run, there’s no point comparing the situation to last summer. We might be in a whole different ball game.

    Volatility BTCUSD chart

    BTC/ USD Volatility is wreaking havoc | Source: Arcane Research

    The Short Squeeze That Generated This

    Everything happened “On Monday, $750 million worth of shorts got liquidated, as bitcoin climbed from $34000 to $39500. This is the largest short squeeze we’ve recorded in bitcoin, surpassing the squeeze amid bitcoin breaking its 2017 ATH on December 16th-17th.” That catastrophic event shifted Bitcoin’s tectonic plates and put volatility, trading volume, and everything in motion. How long will it last, though? That’s the question.

    Related Reading | $150 Million In Short Squeeze Liquidated As Bitcoin Scales Above $53,000

    About the short squeeze is worth noting that “Binance changed their API following the May 19th crash,” so the numbers might not be precise. In fact, according to Arcane Research, the situation might’ve been “severely underestimated by Bybt. This short squeeze was, therefore, very likely far larger than $750 million.”

    Featured Image by Steve Buissinne from Pixabay - Charts by TradingView

    [ad_2]

    Source link