Author: NBTC
Volume Surpasses $1.6 Trillion Amid Crypto Bull Market Bitget, a cryptocurrency exchange, has reported impressive growth in the first quarter of 2024, with futures and spot volume exceeding $1.4 trillion and $160 billion, respectively. This marks a significant increase from Q1 2023, where futures trading volume was $658 billion and spot trading volume was $59 billion. Expanding User Base and Product Offerings The exchange now boasts over 25 million users across its trading platform and Web3 wallet. The first quarter saw several key developments in the crypto market, including a robust recovery in February, with Bitcoin reaching unprecedented highs. The…
Bitcoin price tanked more than 7% on Tuesday morning as the bloodbath across the crypto market pushed altcoins deep into correction territory. BTC reached lows of $62,438 as bears threatened to plunge prices to the $60k level. BTC price near key level as alts bleed As the benchmark cryptocurrency struggled, altcoin bloodbath also intensified. Ethereum, Solana, BNB, Cardano and Avalanche all fell double digits, with ETH dipping to $3,200, SOL to $172 and BNB to $502. Cardano and Avalanche dropped to $0.59 and $55 respectively. According to data from Coinglass, a total of 242,841 traders had been liquidated in the…
According to a recent report by Axios, German athletic apparel and footwear corporation Adidas has inked a new cryptocurrency partnership with Crypto: The Game. Crypto: The Game is an internet survivor game that allows participants to compete for a pot of pooled ETH. The second season of the game wrapped up its public mint in early April, with 800 players joining the challenge. Those who volunteered to take part in the game had to purchase a non-fungible token (NFT) for 0.1 ETH (roughly $350 at current prices). The game is powered by Base, Coinbase’s layer-2 network that was launched back…
A month ago, Coinbase Derivatives filed certificates with the Commodity Futures Trading Commission (CFTC) to list regulated futures on Dogecoin (DOGE), Litecoin (LTC) and Bitcoin Cash (BCH). Today, it was confirmed that the exchange has successfully launched BCH and LTC futures contracts, with DOGE set to follow later this month. This development positions Coinbase as the first CFTC-regulated exchange to offer margined futures contracts for these cryptocurrencies. The futures contracts, sized at 1 BCH, 5 LTC and 5000 DOGE, aim to provide traders with enhanced trading opportunities and a more inclusive trading environment on the market. By introducing these additional…
Bitcoin is on a downswing that not many anticipated. A top trader from Binance sheds light on this trend, suggesting it is about market behavior. When Bitcoin’s price climbs, many traders move away from the usual spots at which they buy and sell. Instead, they chase after trending coins, which often change daily, by using borrowed money to bet on these coins – specifically hyper-volatile meme coins. What’s behind Bitcoin price dip The idea is, when Bitcoin and similar big-name cryptos go up in price, people get excited about making quick profits. So, they rush to invest in smaller, more…
Bitcoin exchange-traded funds experienced a net outflow of $154 million on March 18, according to data from Bitmex Research. This marks the first outflow day since March 1, breaking a streak of consistent inflows. The outflow represents 2,229 BTC, based on the market reference rate. Grayscale’s GBTC product accounted for the entirety of the outflows at $642.5 million, while most other providers saw modest inflows. BlackRock’s IBIT saw the largest inflows at $451.5 million. Fidelity FBTC had its worst-performing day to date with just $5.9 million in inflow. However, a lack of any outflows from the Newborn Nine is a…
In 2023, the crypto industry experienced a milestone, with major jurisdictions such as the EU and the UK tightening their regulatory frameworks. Duncan Ash, the Head of Strategy at blockchain protection firm Coincover, discussed the key trends expected to shape the crypto regulatory landscape in 2024 and how they will impact the evolution of the industry in the long-term. “Crypto regulation” itself is somewhat of an oxymoron. Although built on the principle of peer-to-peer transfer, the market has gradually moved away from its purist origins as regulators seek greater oversight. Different jurisdictions are moving at different paces of reform. The…
Luxor Technology Corporation (Luxor) and Bitnomial, Inc. have announced the launch of the first US exchange-traded Hashrate Futures, according to a press release sent to Bitcoin Magazine. Set to debut on Bitnomial’s derivatives exchange by the end of this month, these futures contracts are specifically tailored to cater to Bitcoin miners and institutional investors alike. “Hashrate has one of the highest volatilities of major commodities, and the April 2024 Bitcoin Halving will exacerbate this volatility,” said Luxor’s Head of Derivatives, Matt Williams. “Bitcoin miners need additional methods to mitigate this price risk to ensure the longevity of their businesses. Exchange-traded…
The Blockchain Association, a prominent crypto advocacy group, is showing support for the two developers of mixing service Tornado Cash in their legal battle against the United States. Last year, the U.S. Department of Justice (DOJ) charged Tornado Cash founders Roman Storm and Roman Semenov with aiding the North Korean hacking group Lazarus in laundering illicit funds through the mixing service. Last week, lawyers for Storm pushed to have the case dropped, arguing that the developer simply created decentralized software solutions to “provide financial privacy to legitimate cryptocurrency users,” which is technically not a crime. Now, the Blockchain Association is…
The partnership will enhance how Space and Time’s developers interact and build with Sui blockchain on-chain data. Layer 1 blockchain Sui Network has extended its strategic partnership with Space and Time (SxT), an AI-based blockchain warehouse for data, to integrate the second iteration of Sui’s RPC. The partnership will enable developers and users on SxT to retrieve and build with Sui data in an easier, faster, secure and more affordable way. The latest collaboration follows Sui and SxT’s recent partnership that saw the latter provide Sui’s developers with a full stack of zero-knowledge-proof-based tools to help their building process on…