Bulls Exit BitMEX Bitcoin Futures Market

bitmex

Cryptocurrency traders appear to be unwinding long positions in perpetual bitcoin futures listed on the BitMEX cryptocurrency derivatives exchange, which has been accused by regulators of facilitating illegal transactions in the U.S.

  • On Thursday, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil complaint against the exchange, while the Department of Justice (DOJ) filed criminal charges accusing four BitMEX founders and executives of breaching rules designed to stop money laundering.
  • Since the announcements, BitMEX has witnessed an outflow of more than 40,000 bitcoins, currently worth more than $422 million, according to data provided by blockchain intelligence company Chainalysis.
  • Open positions in BitMEX futures decreased by more than 22%, from $592 million to $460 million since the CFTC and DOJ announcements, and fell by more than 50% compared to the $1 billion maximum observed on 1 September.
  • According to the data source Skew, the annualized base of three months of perpetuals (futures without expiration) decreased from 6% to 1.84% in the last 24 hours.
  • Base refers to the difference between the future price and the spot price.
  • Essentially, the BitMEX futures premium has decreased from 6% to 1.84% in the last 24 hours. In other words, long positions are being cut.
  • Futures normally trade at a spot price and net buying pressure for futures determines the premium.
  • The gap between the prize offered by other exchanges and BitMEX has increased in the last 24 hours.
  • This indicates a greater urgency among traders to move their leveraged bullish positions away from BitMEX, which could be a long battle with US regulators.
  • BitMEX, with more than $70 billion in monthly turnover, has sufficient resources to continue to struggle with the CFTC and DOJ to engage with the best lawyers in the industry. They have already announced their denial of allegations, and that could turn out to be a very long battle, said Alex Melikhov, CEO and founder of Equilibrium and EOSDT.
  • However, BitMEX market share has been declining.
  • Interest has been declining since the beginning of September, and BitMEX's relevance is decreasing more and more, said Patrick Heusser, senior cryptocurrency trader at Crypto Broker AG, based in Zurich, in a conversation on Twitter.

Cryptocurrency Exchange Operator Diginex Begins Trading on Nasdaq

Cryptocurrency-Exchange-Operator-Diginex-Begins-Trading-on-Nasdaq

Cryptocurrency exchange operator Diginex announced the start of its listing and trading on Nasdaq.

Digital asset financial services company Diginex Limited announced on Thursday that it has completed a business transaction with 8i Enterprises Acquisition Corp., a Nasdaq listed special purpose acquisition company that allows it to list and trade on Nasdaq. Company Details:

"Diginex Limited will be traded on Nasdaq under the ticker symbol 'EQOS' where it will offer investors the opportunity to participate in the growth of digital assets."

The announcement adds that the company's warrants will be traded under the symbol EQOSW.

"This is a watershed moment for both Diginex and the cryptocurrency industry with the listing of the first company with a crypto exchange on Nasdaq," commented Diginex CEO Richard Byworth. "It also presents the first opportunity for anyone trading in the U.S. capital markets to buy directly into the equity of an ecosystem of digital assets and opens the door for financial institutions to participate in the huge opportunity that digital assets present."

The Diginex group includes cryptocurrency exchange Equos.io, the Diginex Access digital asset trading technology platform, the Digivault digital asset custody provider and the Bletchley Park Asset Management investment management business.

Equos.io exchange claims to be "focused on regulation" with features such as segregation of rights, portfolio margin and cross-collateralization. The exchange was launched in July, before the transaction with 8i Enterprises Acquisition Corp., as a novelty. Bitcoin.com previously reported.

source: news.bitcoin.com

Four lies about Bitcoin’s circular economy

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A circular Bitcoin economy is a closed-loop system that projects all the corruption and headache of dealing with money issued by the central bank. Since savings technology is still the largely dominant story for Bitcoin, it is useful to take a closer look at some lies on a topic that is growing in popularity: the circular economy of Bitcoin.

A circular Bitcoin economy requires ways to earn, save and spend bitcoin. Often, when someone is making progress in talking about earning or spending bitcoin, discussions will be derailed by fabrications that we can clean up here today.

1. Number go down is better for payments
This is a lie. Period. There is no way that someone who cares about Bitcoin really wants the number down. I understand that a certain crowd of privacy advocates will tweet a number going down from time to time; I believe it is more to drown out what they see as unbridled and uninformed optimism rather than a real scan of their daily lives and to believe that the falling number is good for their pile.

I think people who have already cut their credit cards and left their banks are sometimes frustrated with what they interpret to be our casual use of the word "revolution" in the West. I see their point, but nevertheless, no one is rooting for that number down.

2. Payments cause the number to drop because merchants dump it for fiat
The whole fiat dump thing has not been thrown away in my personal experience of talking to business owners. No one talking about Bitcoin's circular economy is out there knocking on the door and trying to sign up traders who are going to dump for fiat. Dumping is obviously antithetical to the point of creating the circle to begin with.

What is really happening is that more and more people every day are realizing that the tools are available to demand bitcoin for their services, and so we start to see what happens when people do.

3. Spending Bitcoin is only for nomads not banks
I'm sorry, but my dinner bought with bitcoin from last Friday would disagree. I was literally a privileged married person from Southern California with a bank account and a mortgage and I found a way to buy food directly from another human being (not through a gift card) using Bitcoin. For me, this is really incredible and it helped me to grow my perspective on what we are all doing here.

If you don't want to touch your HODL stack, this is completely understandable. Download the Strike app and enter the circular economy game without touching your stack. The Strike app is a fiat app that pays for bitcoin bills, so it also resolves a number of other complaints you get from HODLers about not wanting to spend bitcoin. If you are a company that requires bitcoin for your goods and services, you definitely want to educate your customers on Strike, I watched even the most ardent HODLers be surprised.

4. If you like bitcoin payments, you don't understand Bitcoin's value proposition
Seriously? This is probably the most irritating lie I hear about Bitcoin's circular economy. Bitcoin derives value from its hard money attributes and from people accumulating and saving it. That's exactly why Bitcoin payments are really so exciting: Why don't you want your business to participate in the trade using the best money in the world? Saving bitcoin and also requiring people to pay for it in exchange for goods and services are complementary mindsets, they are not at odds.

The great news is that, despite any misinformation and misunderstandings, the number will go up, payments will go around and the men in the middle will not be paid. Beware of these lies of Bitcoin's circular economy and don't fall for them.

source: www.nasdaq.com

Atari Token: Agreement with Bitcoin.com Public sale exchange and Atari Token listing in November 2020

Major League

Atari Token: Agreement with Bitcoin.com Public sale exchange and Atari Token listing in November 2020

  • The public sale of the Atari Token is scheduled for November 2020, with a listing on the Bitcoin.com Exchange after completion; Details to be released in the coming weeks by the Bitcoin.com Exchange
  • Atari announces new partnerships, such as Ultra.io
  • The 3rd round is live and will be closed before the public sale

Atari Group, one of the world's most iconic consumer brands and interactive entertainment producers, today announces an agreement with the Bitcoin.com Exchange for a public sale and the Atari Token listing ( ATRI) on the Bitcoin.com Exchange.

The sale from the public is scheduled for early November 2020, with details to be announced in the coming weeks by the Bitcoin.com Exchange. During all these sales, the Atari Token can only be purchased using the following traditional cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash.

This public sale and listing constitute a very important milestone for the DaAri blockchain project, providing liquidity to token holders and paving the way for future collaborations and the development of the Atari blockchain ecosystem.

The Atari Group recently entered into many additional partnership agreements to progressively develop the adoption and use cases of the Atari Token across the ecosystem of interactive entertainment and blockchain initiatives. The first use cases are in the domains where the Group is already active: casinos using cryptocurrencies, video games or blockchain games. The list of these partnerships is available at www.atarichain.com. With Ultra.io, a blockchain-based game distribution platform, the Atari Token will be used within the Ultra.io ecosystem.

The public sale is implemented by Atari Chain, Ltd ("Rede Atari"), a subsidiary of Atari, SA, held in parity with the ICICB Group and headquartered in Gibraltar. The Atari Group is entitled to 35% of the revenue derived from the sales of the Atari Token.

During the first round of pre-sales of the Atari Token, US $ 514 thousand were traded at a price per token of US $ 0.08 each, corresponding to 74.19 BTC in the current Bitcoin price. The amount was contributed mainly by the partners to finance the development of the project. The main objective of this first round was to essentially test the platform, validate the user interface and audit the backend system. Rede Atari closed the 2nd round of private sales for an amount of US $ 1 million at the same price of US $ 0.08, raised from third parties and its business partner ICICB. Hard Cap has been achieved. The 3rd round is live and will be closed before the public sale.

The project documentation (White Paper, Strategy paper, Tokenomics) is available at www.atarichain.com, together with the atari crypto wallet which can be downloaded for free and allows users to deposit and manage their cryptocurrencies in an optimal way.

The launch of Bolsa Atari will take place at the time of listing, to achieve a better synchronization with the other stages of the project.

More information about the Atari Token is available on the dedicated website www.atarichain.com.

Disclaimer:

The realization of the plans and its operating budget and financing plan remain inherently uncertain, and failure to carry out these assumptions may impact their value.

About Atari:

Atari, composed of Atari SA and its subsidiaries, is a global group of interactive entertainment and multiplatform licensing. The true video game innovator, founded in 1972, Atari owns and / or manages a portfolio of more than 200 games and franchises, including globally known brands such as Asteroids®, Centipede®, Missile Command® and Pong®. From this important portfolio of intellectual properties, Atari offers attractive online games for smartphones, tablets and other connected devices. Atari also develops and distributes interactive entertainment for Microsoft, Sony and Nintendo game consoles. Atari also takes advantage of its brand and franchises with licensing agreements through other media, derivative products and publishing. For more information: www.atari.com and www.atari-investisseurs.fr/en/. Atari shares are listed in France on Euronext Paris (Compartment C, ISIN CODE FR0010478248, Ticker ATA), in Sweden on the Nasdaq First North Growth Market as Swedish Depositary Receipts (ISIN Code SE0012481232, Ticker ATA SDB) and are eligible for the program Nasdaq International in the United States (OTC - Ticker PONGF).

source: globenewswire.com

Report details Unprecedented levels of Wall Street interest in Bitcoin and Cryptocurrencies

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Institutional investors are increasingly basing their trades on Bitcoin's long-term perspective and are no longer easily postponed by price volatility, according to crypto derivative exchange ZUBR.

In a new report entitled "Institutional Investors Transform 'Hodlers' in the Bitcoin Futures Market", ZUBR analyzes regulated exchanges such as the Chicago Mercantile Exchange (CME) and Bakkt, and compares their investment behaviors across the bull and bear markets .

ZUBR says institutional traders on regulated platforms are looking to keep Bitcoin based on its long-term perspective, noting that there was more "open interest" compared to volumes.

"The writings may not be on the wall yet for large-scale institutional interest. But there is a clear long-term interest in cryptocurrency on regulated exchanges that has never been seen before."

Trading volumes for Bitcoin futures reached more than $ 4 trillion last year, says ZUBR, with average monthly volumes almost 60% higher than the previous 2019 average. The increase in open interest is seen mainly in the CME, although the crypto derivative firm Bakkt is not far behind.

ZUBR believes that long-term interest in Bitcoin in regulated exchanges may increase even more as more institutional investors enter the market.

"What is clear is that regulated exchanges have attracted a different caliber of traders to the market, potentially changing the future dynamics of cryptocurrency to what believers have always wanted - to shift gold."

source: dailyhodl.com

Gibraltar Stock Exchange lists new Bitcoin Fund

Businessman Control with Bitcoin Technology

A new bitcoin fund (BTC) from Canadian investment fund manager 3iQ has been listed on the Gibraltar Stock Exchange.

Cryptocurrency investors now have one more option to choose from. The Gibraltar Stock Exchange has just listed a new Bitcoin fund by a Canadian investment fund manager.

On Tuesday, the Gibraltar Stock Exchange announced the listing of a new Bitcoin fund by 3iQ Corp, according to Bitcoin.com. 3iQ is a Canadian-based investment fund manager focused on crypto assets and new technologies.

The exchange explained that the cryptocurrency fund tracks the price of Bitcoin using a special index feed. This feed was developed by asset management company Vaneck Europe and the crypto market data provider Cryptocompare.

The newly listed regulated BTC fund 3iQ has been trading on the Toronto Stock Exchange since April 2020. However, its listing on the Gibraltar Stock Exchange is also the fund's first entry into the European market. 3iQ said in a statement that the fund is aimed at retail investors who have "access to Bitcoin without the burden of buying and storing coins".

3iQ President and CEO Fred Pye explained that the fund's listing on the Gibraltar stock exchange puts it within reach of certain players, such wealth and pension funds, who might otherwise face restrictions when purchasing licensed, regulated and listed instruments in purse. "Being listed on the Gibraltar Stock Exchange expands the reach of the bitcoin fund within the growing European digital asset market," said Pye.

Gemini, the U.S.-based cryptocurrency exchange, provides custody of the fund's Bitcoin. In addition to the product recently listed on the Gibraltar stock exchange, 33iQ also manages the 3iT bitcoin trust and the 3iQ crypto asset fund.

The listing follows the recent launch of the GSX Group Grid, which is "a place to create and deploy debt securities, funds and shares as tokenized 'smart bonds'". GSX is the parent company of the Gibraltar Stock Exchange.

Gibraltar is known to be a cryptode-friendly jurisdiction, making it ideal for cryptocurrency companies. Gibraltar Stock Exchange CEO Nick Cowan welcomed the inclusion of 3iQ's financial product saying that the listing of "innovative asset classes", such as the Bitcoin fund, "in turn, will lead to greater adoption".

source: tokenpost.com

Chinese Bitcoin mining machine manufacturer Ebang establishes Canadian subsidiary

china blockchain

Chinese bitcoin mining machine maker Ebang International has established a wholly owned subsidiary in Canada, paving the way for it to enter the country's digital asset trading business as it strives to diversify its revenue streams

The move comes just over a month after the US-listed company created a wholly-owned subsidiary in Singapore for its planned offshore exchange for cryptocurrencies.

The Canadian subsidiary received a monetary services business license from Canada's Financial Transaction Analysis and Reporting Center to engage in business, including foreign exchange trading and digital currency transfer in the country, Ebang said in a statement on Monday.

"Our new Canadian subsidiary lays a solid foundation for the company to enter North America, a market that represents high recognition of digital currency and a robust investment opportunity in digital currency trading platforms"

Ebang's president and CEO

In the first half of 2020, Ebang reduced its net losses to $6.96 million from $19.07 million the previous year, even with its 50.6% revenue over the previous year, to $11, 04 million, the company said in a filing with the U.S. Securities and Exchange Commission.

Ebang, which was listed on Nasdaq in June, said earlier that it will explore opportunities in blockchain and cryptocurrencies in an effort to reduce its dependence on sales of bitcoin mining machines that are vulnerable to fluctuations in the price of virtual currency.

source: caixinglobal.com

See why Bitcoin is safer than the stock market, Novogratz explains

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KEY POINTS

  • Novogratz believes US elections add uncertainty to actions
  • Bitcoin and gold are known for being stock shops and hedges against inflation
  • The billionaire said the correlation between Bitcoin and the stock market will not last forever

With just 35 days to go until the 2020 presidential election, Michael Novogratz, the CEO of Galaxy Digital, said being at the bottom of the stock market right now is dangerous. Despite the recent rise of the greenback, Novogratz said he is more optimistic about Bitcoin and gold and skeptical about U.S. dollars ahead of the November event.

In an interview with CNN, Novogratz explained that the stock rally that the market has witnessed in recent months would soon be weakened. Pointing out that the increases in shares of Tesla and Apple have already been reached, it is now possible for Nasdaq to trade lower, somewhere around 10,000 or another 11% below current levels, he added.

Novogratz explained that the main external factor for the high volatility of stocks is the upcoming elections. The billionaire said that at some point, it is okay to buy shares. But that is not the case at the moment, which would depend on who wins the elections. He also said he thinks Democratic candidate Joe Biden would win, but the market may not like it, citing some of Biden's campaign promises. "If Biden wins, he is raising taxes and he is raising the capital gains tax, more specifically. The market is not going to digest very well," he emphasized.

Although Bitcoin is correlated with the stock market, Novogratz thinks the correlation will not last forever. "To illustrate, if Nasdaq were to fall 5% today, bitcoin would probably be smaller, not higher. But I think you will see these correlations break," he told CNBC.

He also briefly touched on quantitative easing measures, including printing more money to reenergize the economy in the midst of the pandemic. "We don't know what's going to happen, the level of uncertainty around the dollar and inflation has to be significantly higher than any other in our sales over a lifetime," he said.

Gold and Bitcoin are often seen as hedges against inflation. Novogratz said he preferred Bitcoin because it is still much earlier in the adoption cycle. He mentioned that although he thinks the price of gold will continue to rise, he expects Bitcoin to rise to $50,000 over the next two years.

source: ibtimes.com

Traders chase Altcoins while Bitcoin trades aside

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KEY POINTS

  • Bitcoin still trades above $10,000
  • Traders look for opportunities in altcoins and DeFi tokens
  • Tokens like LINK and BNB have double-digit increases in the last seven days

After Bitcoin closed Monday at $10,689, it became apparent that the trend is currently on the sidelines, prompting traders to look for decentralized altcoins and financial tokens to make a profit in the short term.

Bitcoin opened at $10,777 Monday and reached $10,947, which at that time could have recouped the losses from the September 21 crash. However, the increase was short-lived, with the benchmark cryptocurrency closing at $10,689.

The clear obstacle is still $11,000, the Cointelegraph reported. A chart shared by the publication suggests that traders are reluctant to participate and are waiting for $12,000 before opening new positions.

In the weekly period, $10,000 and $10,500 were kept as key holders. Bitcoin has never closed below $10,000 in the past 64 days. With a new month starting, there is a possibility that the price will rise further. "Ultimately, nothing has changed and the price of Bitcoin simply continues to grind slowly higher," added Cointelegraph.

Bitcoin's lateral behavior has led traders to look for opportunities in altcoins and DeFi tokens. At the time of this writing, some currencies like Polkadot (DOT) and Binance Coin (BNB) registered increases of 5.6% and 6.8%, respectively.

In the weekly period, some tokens printed double-digit increases from 4.8% Bitcoin. The DOT registered 10.4% while the BNB had an increase of 17.5%. The Chainlink (LINK) is still below half its previous high of $20 and is currently trading at $10.29. Still, it increased 18.1% over the last seven days.

With DeFi currencies also losing steam, traders are also looking for the next DeFi "thing". The belief stemmed from the fact that several DeFi tokens in the past have increased dramatically in a few days. YFI, Yearn Finance's governance token, increased from $30 to $43,966, while UNI went from zero to $8.40.

Because of this, traders flocked to an unreleased project from Yearn Finance creator Andre Cronje. According to Cointelegraph, this new project, called Eminence, was not yet finished and was intended to be released in about three weeks. But started putting money into the protocol soon after it was announced and it did not take long for a hacker to exploit and drain the project of funds.

In a bizarre turn of events, the hacker opted to transfer $8 million of funds back to Cronje, who then promised to release the funds back.

source: ibtimes.com

Bitcoin on the move to break $12,000

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After correction of more than 20%, Bitcoin was able to attract new buyers with the price then rising to $10,890 at the time of writing. In the last 24 hours, BTC thus registered a more than 1.34%, in the last 7 days a less than 0.41% and in the monthly table minus 5.56%. Market capitalization rose to almost $201 billion.

BTC Price Evolution

Most analysts were quite loud after the recent 20% correction and, given the CME gap, predicted a further drop in the price of BTC to $9,600. However, the founder of Blockroot, Josh Rager, clearly contradicted this issue, as the recent price developments are by no means unusual for Bitcoin and the cryptocurrency market.

Rager explains that Bitcoin continues the upward trend of the past 3 weeks and has remained above the important support zone of $9,900 to $10,175. In his view, the bulls will boost the bitcoin price above the $11,000 mark. In the past few hours, Bitcoin has failed in its first attempt to overcome this strong resistance.

Big Chonis Trading describes that Bitcoin offers good entry opportunities and will open long positions if Bitcoin rises above the $11,000 mark. However, it urges its followers to be cautious, as BTC is showing a short-term upward trend and has closed above the $10,000 mark so far, but the CME gap still allows a visit to the region across the brand. of $9,600.

However, according to the Fear & Gread Index, fears among investors remain high. Since the price rose to $ 12,000 and the subsequent flash crash, Bitcoin has been in a price range where uncertainty is not easing. Bitcoin Trader Byzantine General says:

"Next is the Fear & Gread Index, which speaks for itself. After the 12k resistance, we fell hard and now we are constantly trapped in the fear zone."

Ethereum, XRP and other altcoins follow Bitcoin

Ethereum, XRP and other Altcoins are also following the recent Bitcoin trend. ETH is moving to the side with another 0.38% to $357.23. The XRP rose 1.11% to $ 0.24. Among the top 20 cryptocurrencies, Cardano with over 7% at a price of $0.10 and Chainlink with over 3.5% at $10.60 show the strongest gains.

Trader JJCycles says that chainlink is on the verge of another massive climb and therefore now is the perfect time to profit from another climb. The weekly chart shows a massive hammer candle while the weekly RSI (Relative Strength Index) broke the midline for support.

source: crypto-news-flash.com