Weekly P2P Volume Up USD 64M in 5 Years, Fuelled by Gift Card Purchases

Global peer-to-peer (P2P) crypto trading volume has seen huge developments in the past five years, growing by more than USD 60m, with a significant driver being Paxful exchange, whose users are keen on using gift cards as the preferred payment solution on the platform, states the latest research report by Arcane Research.

Traders on Paxful sell $16.2M of Bitcoin for discounted gift cards each week

A new report has found almost half of all Bitcoin traded on the P2P exchange Paxful is exchanged for gift cards. A report published by Arcane Research has revealed that nearly half of Paxful’s trade volume comes from trade between Bitcoin (BTC) and gift cards. The report found that, “purchasing Bitcoin with gift cards has been the preferred solution on Paxful each month throughout the five-year span analyzed,” and in June accounted for 48% of Paxful’s volume. Paxful processes nearly $40 million in weekly trade, which means up to $20M of BTC is exchanged for gift cards every week.

Crypto P2P adoption in Middle East stymied by politics and tech

Data published by Arcane Research suggests that major P2P crypto platforms have struggled to take off in Iran and Lebanon. Data published by Arcane Research suggests that despite demand for peer-to-peer crypto trading platforms in the middle east, regulations and lack of infrastructure is slowing down adoption.  But undocumented migrants in western countries have been making use of these platforms to send money back home. According to an October report from the firm, peer-to-peer crypto trading volume, or P2P, across the Middle East and Northern Africa is roughly 15% what it was in late 2017 on major platforms LocalBitcoins and Paxful — or roughly $682,000 a week.

Record-high Bakkt Bitcoin delivery exposes institutional frenzy for BTC

Bakkt recorded an all-time high Bitcoin delivery in October, demonstrating a clear spike in institutional demand for BTC. Data from Arcane Research shows Bakkt Bitcoin exchange saw another record-high month from Sept.

Open Interest on Bitmex Drops 16%: Investors Withdraw 37,000 BTC in Less Than 24 Hours

Data from Arcane Research shows that open interest on Bitmex’s bitcoin derivatives market touched a new low of 45,122 BTC on October 1.

Publicly Listed Energy Firm Equinor Exploits Gas Flaring in North Dakota to Mine Bitcoin

Just recently, the firm Arcane Research recently revealed a number of screenshots from the publicly traded energy firm, Equinor.

Non event? Why Friday’s $272M CME Bitcoin futures expiry is irrelevant

Historical data shows Bitcoin price drops by 2.3% ahead of CME futures expiry, should traders expect increased volatility? Chicago Mercantile Exchange (CME) Bitcoin futures and options markets are set to mature this Friday, leading some traders to fear that the most recent BTC dump is a presage of weakening markets. According to a September 2019 Cointelegraph and Arcane Research report, there is typically a 2.3% drop ahead of each monthly CME expiry.

Grayscale’s Litecoin and Bitcoin Cash Trusts Trade for Tremendous Premiums

This week data from Arcane Research shows there’s been massive demand for Grayscale’s recently launched publicly traded crypto trusts.

Grayscale Bitcoin Cash, Litecoin Trusts are trading at massive premiums

For some retail investors, Grayscale's publicly traded trusts are the only way to get exposure to cryptocurrencies, says Arcane Research.

Bitcoin's on-chain solution has its hands full dealing with WBTC

Last week, when Arcane Research reported that the number of Bitcoin transactions going up was not met by high transaction fees on-chain, people shifted their attention to SegWit.

Bitcoin Exchange Reserves Drop to a 12-Month Low Fueling Bullish Optimism

The number of bitcoin held on exchanges has touched a 12-month low, as bitcoin exchange balances have reached levels not seen since June 2019.

Competition to Cut Fee Premium on 'Safer' Crypto Exchanges Too

Despite some crypto exchanges still increasing their trading fees, the future may bring about a highly anticipated reduction in fees as competition heats up in the industry, crypto research firm Arcane Research said in a new report. Even though bitcoin itself can be considered “a homogenous product,” the same cannot be said about bitcoin trading, which is subject to

Arcane Research: Interest in XRP Waning As Bitcoin and Ethereum Outperform Ripple’s Native Cryptocurrency

Crypto intelligence platform Arcane Research says interest in XRP appears to be dissipating as Bitcoin and Ethereum pull away from Ripple’s native token.

Investment Firm Arcane Crypto to Go Public via $33 Million Reverse Merger

Arcane Crypto, a Norway-based investment company, said Thursday that it is planning to go public through a reverse takeover by Vertical Ventures, a publicly traded Swedish firm.

Over $1B in Bitcoin Options Set to Expire Today – Crypto Speculators Expect Massive Shakeup

Cryptocurrency markets and bitcoin price stability might be coming to an end soon, as a number of skeptics and speculators expect a big move after today’s options derivatives contracts expire.