Please share if you find this article interesting. India's Crypto Trading Volume Soars Amid Economic Crisis | Bitcoin News Despite the economic crisis, cryptocurrency trading platforms in India are reporting record-breaking volumes and new users. “People in India are betting big on bitcoin,” Paxful’s CEO said. “The Indian market holds great potential and importance for the future of the crypto-economy.” Record-Breaking Growth Across the Indian Crypto Industry Cryptocurrency trading volume has been growing by leaps and bounds across many exchanges in India despite the coronavirus pandemic and economic crisis. Peer-to-peer (P2P) bitcoin marketplace Paxful announced Thursday its record-breaking performance in India. From January to May, Paxful reported an increase of 883% in b
Please share if you find this article interesting. Bitcoin Mining Difficulty Hasn’t Done This Since 2018 $3K BTC Bottom Bitcoin (BTC) is looking like it did at its 2018 bear market bottom — and one fundamental is about to repeat a move which has only happened twice in its history. Analysis of Bitcoin network difficulty following its latest adjustment on June 4 reveals a key similarity to when BTC/USD traded at lows of $3,100. BTC difficulty on course for historic third This week, difficulty adjusted down by 9.3%. That followed a downward shift two weeks previously of -6%. If the next adjustment is also negative — it is currently forecast at -7% — it will be only the third time ever that three back-to-back negative adjustments have occurred. With the exception of December 2018, th
Please share if you find this article interesting. Ethereum Trading Near Crucial Juncture And 100 SMA Holds The Key Ethereum is trading in a tight range above the $240 support against the US Dollar. ETH price likely to accelerate higher above the $245 and $250 resistance levels in the near term.Ethereum is trading above a major support and pivot area at $240.The price is likely to surge if it clears the $245 resistance and the $250 barrier.There is a major contracting triangle forming with resistance near $244 on the hourly chart of ETH/USD (data feed via Kraken).The pair could either rally above the $245 level or it might start a strong decrease below $240.Ethereum Price Approaching Crucial BreakAfter testing the $230 support zone, Ethereum price started a Ethereum PriceThe 76.4...
Please share if you find this article interesting. Bitcoin Options See ‘Fast’ Q2 Growth as CME Open Interest Tops $259M Bitcoin (BTC) derivatives interest is putting in “fast” growth this quarter — and CME Group is leading the way for options, new data shows. According to monitoring resource Skew, the past weeks have seen CME dramatically increase its share of open interest for Bitcoin options. CME market dominance on the up Open interest refers to the total derivative contract volume, which has not yet been settled. CME had already set all-time highs in early May but has since increased its presence dramatically. As of June 4, open interest stood at $256 million, just $3 million short of all-time highs. By contrast, at the start of 2019, CME recorded a minimum of $2 million in
Please share if you find this article interesting. Home Seller Sues Buyer Over Payment in ‘Fool’s Gold’ Token After attempting to sell her home, California-based psychologist Mary Shea is suing buyer, Mike Cherwenka, for attempting to pay for 30% of the property’s value in the form of a “worthless” crypto asset called ‘Troptions.Gold.’ The dispute has left her unable to sell the home as Cherwenka’s company still claims an interest in it. Shea accuses Cherwenka and his company Best Buy Homes of violating securities and state racketeering laws by misleading herself and other members of the public as to the nature of the Troption virtual currency. Her complaint states: “Cherwenka and Best Buy defrauded Shea by executing a scheme whereby they would offer to purchase her property for
Please share if you find this article interesting. Crypto Derivatives Volume Just Hit a New Record High Crypto derivatives monthly volume increased by one-third in May to hit a new all-time high of $602 billion, according to U.K.-based data aggregator CryptoCompare. The new record is only just a shade past the previous record in March of $600 billion, however,. Derivatives are becoming ever more popular and now account for 32% of the crypto market — up from 27% in April. In percentage terms, the monthly volume increase in May for derivatives was six times larger than the increase in spot volumes, which was up 5% to $1.27 trillion. Huobi, OKEx and Binance accounted for about 80% of May's derivatives volume combined. In percentage terms, CME saw the largest monthly increase of 59%,
Please share if you find this article interesting. Norwegian Salmon Exporter Fights Food Fraud With Blockchain The Norwegian-based producer of farmed-salmon, Kvarøy Arctic, has become the latest firm to join IBM’s Food Trust — the tech giant’s blockchain-based supply chain solution for the food industry. Kvarøy Arctic is a supplier for numerous restaurants and Whole Foods retailers in the United States and Canada, and will now utilize blockchain technology to provide detailed information on the origin of its produce to restaurants and consumers. Raj Rao, IBM Food Trust’s general manager, described the partnership as “promoting transparency and sustainability in the seafood supply chains”. Blockchain boosts transparency Information regarding the origin of salmon farmed by Kvarø
Please share if you find this article interesting. Three Arrows Capital CEO: ‘Bart Simpson’ Patterns are Here to Stay Su Zhu, the CEO of Three Arrows Capital, thinks that as long as crypto traders continue to do business with derivatives exchanges, you can expect to see more “Bart Simpson” patterns in the Bitcoin price chart. In a video from Luke Martin’s Coinist Podcast posted to Twitter on June 4, Zhu said the Bart patterns — named after their resemblance to the Simpsons character’s hair — are “definitely” here to stay. Zhu was responding to the most recent Bitcoin (BTC) volatility on June 1, in which the price shot up 10% to $10,380, remained in the $10k range for several hours, and then dropped back suddenly to the $9,500s. “Bart Simpson” pattern in BTC According to the
Please share if you find this article interesting. Could Bitcoin Trading Volume Really 100X in Four Years? In its latest report cryptocurrency data provider Coin Metrics predicted that Bitcoin’s daily volume could eclipse that of the U.S equity market, if growth rates are maintained. But how likely is it really? The report cites Bitcoin as an asset class with incredible growth potential due its low trading volume compared with more traditional markets: “The interpretation is that Bitcoin, in its current state, is most comparable in size to a large capitalization stock rather than a distinct asset class.” Could Bitcoin outpace major asset classes Bitcoin’s daily spot market volume is currently $4.1 billion in USD markets according to Coin Metrics — it’s dwarfed by the U.S. equi
Please share if you find this article interesting. These Factors Show Bitcoin Could Soon Explode Above $10,000 Bitcoin is recovering and showing positive signs above the $9,700 level against the US Dollar. BTC price is likely to accelerate higher above $10,000 as long as it is above the 100 hourly SMA.Bitcoin is correcting higher and it recently cleared the $9,740 resistance zone.The price even broke the $9,800 level and it traded as high as $9,884.There is a bullish continuation pattern forming with resistance near $9,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair could surge above $9,880 and $9,950 as long as it is above the $9,680 support.Bitcoin Price Could Rally AgainAfter forming a decent support base above $9,400, Bitcoin PriceIt opened the do...