Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…

Trading Platform ‘eToro’ Launches New Cryptocurrency Wallet

The global social trading platform, eToro, recently launched its digital currency wallet which would initially support four virtual coins The New eToro Cryptocurrency Wallet According to Finextra, global social trading platform, eToro, launched its cryptocurrency wallet on Tuesday (Nov. 6th). The new wallet would currently support four virtual currencies, which include Bitcoin (BTC), and altcoins such as Ethereum (ETH), BitcoinCash (BCH), and Litecoin (LTC). The eToro wallet is a mobile app accessible on iOS and Google Play. One of its features includes multi-signature security that ensures the safety of users’…

Hong Kong Exchange Prepares for Blockchain Trading Platform

Twitter Facebook LinkedIn Hong Kong Exchange and Clearing Limited (HKEX) has joined forces with Digital Asset to develop a blockchain platform for post-trade allocation and processing of trades. This alliance was created under the Stock Connect programme with China, based on a FinExtra report. HKEX had been working on a prototype system for Stock Connect using Digital Asset’s platform and smart contract modeling, as it attempts to speed up the post-trade process and reduce settlement risks among traders. This plan was made known by HKEX CEO Charles Li at a…

Coinbase Token Attracts Capital But PAX Leads Trading

Twitter Facebook LinkedIn It’s now been nearly two months since Winklevoss-led cryptocurrency exchange Gemini fired the first shot in the stablecoin wars through the launch of its USD-pegged crypto token, the eponymous Gemini Dollar. That same day, Paxos — like Gemini an NYDFS-regulated firm — made a similar announcement, and before long, crypto unicorns Circle and Coinbase revealed that they had partnered to co-issue a consortium-led, fiat-backed token, USD Coin. These three tokens, along with fellow “regulated” stablecoin TrueUSD (TUSD), which launched earlier in the year, have collectively attracted more…

Coinbase’s Head of Trading Resigns After Six Months on Job

The head of trading at Coinbase, Hunter Merghart, has resigned from the U.S. crypto exchange and wallet provider after just six months on the job, CoinDesk has learned. Merghart made the decision to leave the company last week and is now exploring other opportunities, according to people familiar with the situation. Coinbase declined to comment on the move when reached. His departure follows that of the executive who hired him, Adam White, who left Coinbase earlier this month to become the chief operating officer of Bakkt, the new institutional crypto trading…

Japan’s Financial Regulator Mulls Cap on Cryptocurrency Margin Trading

Japan’s Financial Services Agency (FSA) is weighing a plan to put a cap on the leverage in cryptocurrency margin trading in a move that is set to curb speculation and market risks. According to a news report from Nikkei on Thursday, the financial market regulator is considering limiting crypto margin traders’ borrowing power to two to four times of their deposits. Currently, there’s no regulation specifically governing the cryptocurrency margin trading space in Japan, the report added, with exchanges offering as much as 25 times of borrowing power. That means users…

Crypto Market Sees Slight Losses After Trading Sideways, Bitcoin Hovers Near $6,400

Monday, Oct. 22: markets have taken a slight downtrend after trading sideways last week, with 15 of the top 20 digital currencies by market capitalization in the red, and Bitcoin (BTC) trading around $6,400, according to data from CoinMarketCap. Market visualization by Coin360 The BTC price has been trading in a narrow corridor from $6,372 to $6,730 at its highest point during the day. The leading cryptocurrency has lost 0.45 percent over the last 24 hours, and is trading at $6,483 as of press time. In terms of its weekly…

Bakkt’s Futures Platform Slated to Begin Trading in December

Almost a year to the day after the CBOE and CME launched their own bitcoin futures products, the Intercontinental Exchange’s Bakkt platform is heralding the launch of its own futures on December 12, though the platform is still pending approval from the Commodity Futures Trade Commission. Originally slated for November, Bakkt was announced in August 2018 as “a scalable on-ramp for institutional, merchant and consumer participation in digital assets.” The platform is advertised as an all-encompassing, “open platform” for “digital assets across global markets and commerce,” and was, in part,…

CME Group: Bitcoin Futures Trading Is Up 41 Percent in Quarter Three

Bitcoin futures trading is up. American financial market company CME Group Inc. announced on Twitter early on the morning of Wednesday, October 17, 2018, that its futures products are experiencing rising volume, explaining, “In Q3, Bitcoin futures average daily volume rose 41% and open interest was up 19% over Q2.” This is a massive improvement over just two months ago when CME stated that volumes on the futures markets had been in the hole for three consecutive trading sessions. During that time, CME’s data reported less than 2,500 BTC transactions…

Bitcoin Futures Trading Rose 41 Percent in Q3: CME

Bitcoin futures trading volumes continued to rise in Q3, with derivatives exchange CME reporting a 41 percent quarter-over-quarter increase in average daily volume. Bitcoin Futures Volumes See Major Bump in Q3 During Q3, the exchange averaged 5,053 contracts — each equivalent to 5 BTC — traded during each daily trading session, representing 25,265 BTC in volume. Open interest in CME’s bitcoin futures market saw a significant bump as well, rising 19 percent quarter-over-quarter to an average of 2,873. In Q3, Bitcoin futures average daily volume rose 41% and open interest was…