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According to a recent report by Diar, 2018 saw a significant increase in trade volumes on crypto exchanges. Cryptocurrency exchanges have closed 2018 with “record transacting volumes,” according to a report by research firm Diar published Jan. 14. In its report, Diar notes that both the number of trades and the trade volume have increased on major crypto exchanges in 2018, compared to 2017 figures. The firm predicts that 2019 will see lower figures for spot markets than in 2017, despite the likely increase in the variety of traded cryptocurrencies. According to Diar’s data, the combined trade volume of the USD markets on major United States crypto exchange Coinbase increased by 21% in 2018 versus 2017. Over the same period, exchanges Kraken and Bitfinex saw increases of 192% and 50% respectively. In addition to growing trade volumes, Coinbase reportedly registered a 14.1% increase in the number of trades: from 82.7 million deals in 2017 to 94.4 million in 2018. Diar has also analysed ..
The turmoil the cryptocurrency market has been facing over the last few months is no secret. Prices of all cryptocurrencies have been falling significantly against the USD. Bitcoin (BTC), last week, reached a yearly low of about $3200. While some analysts claim this was the bottom, some others believe that this is just the beginning. Another group of speculators believe that the industry has met an untimely end. As expected, the price of other cryptocurrencies have been moving in line with the price of BTC. The market capitalization of all cryptocurrencies has fallen by over 60% from its all time high. With no sign of a recovery in view, it’s safe to say that the bears might remain in control of the market until next year. It’s Not All Bad News Even if there is a lot of negative vibe in the market at this time, stablecoins are benefiting. Reports from Diar, a research firm, showed that stablecoins are recording a tremendous increase in adoption. Apparently, the increase in the number ..
South Korea’s Shinhan Bank wants to reduce human error in its processes as part of a multi-phase hook-up with blockchain technology. South Korea’s second-largest commercial bank, Shinhan Bank, has embarked on a project to implement blockchain in internal processes to decrease human error. The initiative was reported by English-language daily news outlet The Korea Times on Dec. 10. Shinhan, which has sought integration with both the blockchain and cryptocurrency spheres over the past eighteen months, also completed a staff training program to increase knowledge of blockchain for various applications. According to The Korea Times, the bank implemented interest rate swap transactions using the technology on Nov. 30 in what it called a “first” for a South Korean lender. Now, operations such as financial record-keeping are set to become automated, removing the chances of human-based mistakes and enhancing overall efficiency. “Prior to the blockchain-based process, there had been no standar..
Toronto-based Bitcoin mining company Hut 8 has seen record high revenue in the third quarter of 2018, which reached $13.5 million, with $27.7 for the nine months ending on Sep. 30. Canadian Bitcoin (BTC) mining company Hut 8 has reported record revenue in the third quarter (Q3) of 2018, according to the company’s quarterly financial report published Nov. 8. Hut 8, which claims to be “the largest” public crypto mining company by operating capacity and market capitalization, has revealed its financial results for Q3 of this year, stating that its revenue reached a record high $13.5 million for Q3, and $27.7 million for the nine months ending on Sep. 30. Revenue increased by 126 percent compared to the previous quarter revenue of $5.9 million. Hut 8 attributed the increase to its deployment of 16 Bitfury BlockBoxes in September at its mining facility in the City of Medicine Hat, for an aggregate of 56 BlockBoxes at that site. Each BlockBox contains 176 mining servers and reportedly has a..
Bitcoin futures trading on the U.S. Chicago Board Options Exchange (CBOE) hit record low volatility levels in October, in stark contrast to the rocky global equity markets. Bitcoin (BTC) futures trading on the U.S. Chicago Board Options Exchange (CBOE) hit record low volatility levels in October, in stark contrast to the rocky global equity markets, MarketWatch reported Nov. 5. As Kevin Davitt, senior instructor for The Options Institute at Cboe Global Markets has outlined in a video Nov. 1, the average weekly volatility for the week ending Oct. 26 was just 3 percent for XBT-CBOE Bitcoin futures, the lowest ever level since they launched for trading Dec. 10, 2017. As of Nov. 1, the average weekly XBT high-low range on front-month Bitcoin futures since inception has been 15.65 percent: as of tax day (mid-April 2018), this weekly average has lessened to a more “subdued,” 10.6 percent, Davitt noted. Yet on the monthly chart, October overall has seen record-low volatility levels, an avera..
Crypto investment firm Grayscale Investments Inc. has raised almost $330 million in annual revenue as of the third quarter 2018, despite a prevailing bear market. Cryptocurrency asset management firm Grayscale Investments Inc. has reported revenue of nearly $330 million in 2018, according to its third quarter (Q3) investment report released Nov. 1. The company managed to reach this figure despite a prevailing bear market. In the report, Grayscale highlights that it raised $81.1 million over the last three months, which brought the firm’s year-to-date inflows to almost $330 million, representing an increase of almost 1,200 percent from the same period in 2017, when the company raised $25.4 million. The current year is the strongest Grayscale has experienced during any calendar year since the beginning of its activity. Grayscale cumulative inflows by investment product chart. Source: Grayscale In Q3, institutional investment contribution reportedly increased to 70 percent, however, in ..
Bulletproofs is a topnotch technology that is meant to make any blockchain more scalable and efficient. Today, Monero will set the record as the first ever blockchain to implement the Bulletproofs protocol. Invented by Jonathan Bootle and Benedict Bunz, the Bulletproofs protocol is aimed at decreasing the weight of transactions that are confidential. Monero has been building this technology for over one year. The idea is to reduce the size of confidential transactions by up to 80%. The Bulletproofs protocol is going to deal with one of the major problems faced by blockchains which is the problem of scalability. Monero’s Privacy Layers And Scalability As you probably already know, Monero is the most privacy centric blockchain in the world. However, the additional security layers also make computation and storage more difficult. The billion dollar blockchain has had to struggle with scalability which has led to high transaction fees and high storage cost. One of the cryptographers who ..
Bitcoin volatility hits all-time low, which could lead Bitcoin to initiate a major rally and bottom out at $6,000 Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. In the beginning of October, Bitcoin achieved a 17-month low volatility rate, recording its highest level of stability since mid-2017. Bitcoin has started to experience a noticeable decline in its volatility during a period in which the volume of the dominant cryptocurrency achieved a new yearly low. Thus, the volume of Bitcoin dropped from $4.2 billion to $3.2 billion on October 7, by more than 23 percent. Since then, the volume of BTC has recovered substantially, back to $4.2 billion, but it still remains substantially lower than previous weeks. The overall decline in trading activity in the cryptocurrency exchange market due to the uncertainty in the short-term price trend of Bitcoi..
At a recent event in Minneapolis, CFTC chairman Christopher Giancarlo noted increased enforcement actions last year, partly due to fraudulent crypto cases Christopher Giancarlo, the chairman of U.S. Commodity Futures Trading Commission (СFTC), said in an Oct. 2 speech that enforcement actions and fines increased significantly in the last fiscal year. Giancarlo presented at the Economic Club of Minnesota, stating that the enforcement of the recent fiscal year, which ended September 30, was "among the most vigorous in the history of the CFTC." The CFTC filed 83 enforcement actions in the last fiscal year, representing a 25 percent increase from the last three years of the previous administration. The CFTC levied as much as $900 million in penalties this fiscal year. The watchdog has also reached settlements from $30 million to $90 million that are reportedly connected with interest-rate benchmark manipulation with banks such as JPMorgan Chase & Co., Deutsche Bank, and Bank of America, a..
Blockchain network developed by the government of Australia recorded 40,000 transactions per second. On Sept. 26, Australia’s National Science Agency (CSIRO), an independent Australian federal government agency responsible for scientific research, developed a blockchain network called Red Belly with the University of Sydney. They successfully conducted a pilot test on the Amazon Web Services (AWS) global cloud infrastructure, processing more than 40,000 transactions per second. At 40,000 tx/second, Red Belly is able to process information on an immutable network at a capacity that is 6,666 times larger than the Bitcoin network and about 1,600 times bigger than the Ethereum blockchain network. Ethereum vs. VisaAn Ethereum researcher with an online alias CPereez19 calculated the transaction per second capacity of Ethereum to be around 25.346 tx/second, evaluating the block gas limit and transaction cost of the Ethereum network: “The block gas limit [of Ethereum] is 7,999,992 . Transacti..
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