Bitcoin Held On Exchanges At Yearly Lows As Investors Gear Up For The Moon

Bitcoin investors have been transferring their assets outside of specific exchanges lately, new data shows.

Bitfinex is Constantly Printing More Tether, None Of It Has Ever Been Burned

A report indicates that no Ethereum-based Tethers have ever been burned, though new ones are constantly being printed. A report from Flipside Crypto indicates that no Ethereum (ETH)-based Tether (USDT) tokens have ever been burned.

Do Zero-Reserve Loans Make Tether Better Off Backed by Bitfinex Stock?

With the Federal Reserve now allowing US banks to issue loans with zero reserve, is Tether better off backed by Bitfinex shares than dollars backed by nothing? Earlier this week, Tether (USDT) was making headlines for flippening XRP and taking the number three spot for largest cryptocurrency by market cap. Confidence in the leading stablecoin seems to have returned, despite Tether and Bitfinex still being embroiled in two ongoing court proceedings — one of which relates to an $850 million cash loan made by Tether to Bitfinex, secured against Bitfinex stock. Investors didn’t like the fact that their Tether was no longer backed one-to-one with dollars.

Criminal Crypto Mastermind Begins Moving Stolen Bitcoin (BTC) From $72 Million Hack

The hacker behind the $72 million heist on the Bitfinex exchange in 2016 appears to be moving more of the stolen Bitcoin.

Notorious Bitcoin Whale Issues Crypto Warning, Says Long Overdue BTC Reversal Has Arrived

An infamous Bitcoin whale known for placing bold bets on the crypto exchange Bitfinex is back.

Crypto Exchanges Speak Out as Binance Takes CoinMarketCap’s Top Spot

Binance taking the top spot on recently purchased CoinMarketCap has raised concerns among executives from other top crypto exchanges. For an industry that is supposed to be based upon decentralization, it appears to be getting crowded at the top, with a number of companies transforming into unspoken oligarchs, each wielding huge influence — or at least that’s what some critics argue. One of the most remarkable crypto companies operating today is Binance.

Binance and Eosfinex Join EOS DeFi Protocol to Handle Smart Contract Upgrades

An EOS DeFi project wants to make use of the blockchain’s smart contract upgrade features, enlisting the help of Binance, Eosfinex and others to oversee the process. Equilibrium, an EOS-based decentralized finance, or DeFi, project similar to MakerDAO (MKR), is adding four block producers to its governance system, most notably Binance. Other members include Eosfinex, an EOS decentralized exchange affiliated with Bitfinex, as well as stand alone block producers EOS Nation and EOS Cannon. The group of four will act as “governance supervisors” for the system.

2.2% of All Ethereum Is Long on Bitfinex: 3 Reasons Why This Could Go Wrong

Despite the ongoing retracement in the prices of Bitcoin, Ethereum, and other top cryptocurrencies, investors remain highly optimistic about this market.

There’s a Colossal $40M Sell Wall Preventing Bitcoin From Crossing $10,000

The price action over the past few days has undoubtedly been positive for Bitcoin.

Centralized Exchanges Continue to Shed Bitcoin

The number of Bitcoins held on centralized exchanges has fallen by more than 10% since Black Thursday in March. Data compiled by Glassnode is showing that the number of Bitcoin (BTC) held on top crypto exchanges has steadily fallen since the violent mid-March crash that saw crypto prices tumble by 50% in a single day. The sum of BTC held on exchanges currently sits at a little over 2.3 million — the lowest it has been since May 22, 2019. As such, the percentage of BTC stored on centralized exchanges has dropped from 14.1% to 12.5%. $3B in BTC removed from exchanges since March The number of BTC stored on top crypto exchanges has fallen by approximately 300,000 since ‘Black Thursday' on March 12. BTC price and number of Bitcoins held on exchanges: Glassnode As such, approximately $3 billion worth of Bitcoin has left the exchanges two months, leaving $23 billion in BTC all up. The vast majority of withdrawn funds have originated from BitMEX, Huobi, and Bitfinex — with Huobi and BitMEX shedding 100,000 Bitcoins each since March. Twitter user Ceteris Paribus suggested that the massive sums of Bitcoin could be moving from futures markets, with BitMEX and Huobi ranking among the top derivatives platforms by volume. Jernej also noted that Bitfinex’s CTO Paolo Ardoino had recently spoken of the exchange’s involvement in large over-the-counter transactions. ETH balances approach all-time highs While the number of BTC held by exchanges has dropped by 11.5% since March, Ethereum (ETH) balances have steadily increased since March 2018 — increasing from 5.8 million to 18.6 million over two years. ETH price and number of Bitcoins held on exchanges: Glassnode Nearly 17% of the total Ether supply is currently held on exchanges, valued at more than $4 billion.

Crypto Traders Are Longing ETH (And Not Much Else)

Ethereum longs on Bitfinex have increased 170% since breaking into record highs during late February. The number of Ethereum (ETH) longs has continued to surge after breaking into all-time highs at the end of March. Despite the broader crypto markets posting price gains alongside Bitcoin (BTC) in recent weeks, the number of open longs remains low for most crypto assets after plummeting during the mid-March crypto market crash. Ether longs dominate crypto markets Since breaking into record highs on Feb.

CoinMarketCap Initially Rejected the Metric That Now Puts Binance at No.1

CoinMarketCap last year rejected the web traffic metric that has catapulted new owners Binance into the top spot. Crypto markets data aggregator CoinMarketCap yesterday changed its methodology to rank exchanges on their web traffic by default — a metric that puts CoinMarketCap’s new owners  Binance in the top spot.  But this stands in stark contrast to the words of CoinMarketCap’s Chief Strategy Officer and acting CEO Carylyne Chan, who said in a podcast interview late last year that web traffic was “not a good indicator.” Introduced just six weeks after Binance bought CoinMarketCap for hundreds of millions of dollars, the new ranking methodology prioritizes web traffic over CMC’s painstakingly developed “liquidity metric,” which was only introduced in November and was due to become the default ranking. When ranked by average liquidity, Binance lands in fourth place, following Bitfinex, Coinbase Pro, and Huobi Global respectively. Indications are not good On an episode of the podcast Blockchain Journeys recorded at the Capital Conference in Singapore in November, where the liquidity metric was introduced, Chan was asked specifically about using web traffic as a metric.

Risk of Dramatic Ether Sell-Off Grows With Longs at Record Highs

The parabolic rise in Ether long positions has increased the risk of a violent crash, as uncertainty surrounding the launch of ETH 2.0 grows. With anticipation growing for Ethereum’s long-awaited ETH 2.0 revamp, Ether long positions have gone parabolic on Bitfinex since February. But with short positions also growing, and co-founder Vitalik Buterin withdrawing last week’s confident prediction of a July launch, the bullishness has also increased the risk of a violent sell-off. Ether long positions go parabolic Long positions have been breaking new record highs ever since charting above 600,000 in February, rising by another 150% over the past two months despite the historic Bitcoin (BTC) sell-off in on March 12 - 13. ETH/USD Longs on Bitfinex: TradingView However, the number of shorts positions has also trended upwards significantly since March, up nearly 200% from February’s record lows.

If Blockchain Is the Door to the Future of Finance, Liquidity Is the Key

Liquidity should be seen as the primary indicator of the overall health of markets and exchanges — and also as a crucial factor for economic trading. In the cryptocurrency industry, liquidity is king.

Since Bitcoin Hit $3,700, $1.7 Billion Left Exchanges: Here’s Why This is Highly Optimistic

Bitcoin has been on a near-unstoppable rally since March’s lows of $3,700.

There’s a $30 Million Bitcoin Sell Wall That May Halt Any Rally Past $10k

The price action over the past few days has undoubtedly been positive for Bitcoin.

Bitfinex Now Has a Derivatives Contract Offering Exposure to Bitcoin Dominance

Bitfinex says the perpetual swap provides investors with a less volatile form of exposure compared to a plain-vanilla bitcoin futures contract.

New Bull Market Signal? Bitcoin Bearwhale Vanishes as BTC Hits $10K

The most profitable trader on Bitfinex disappeared after the Bitcoin price hit $10K in a stunning 150% rally since the Black Thursday crash. The biggest whale on Bitfinex known to the Bitcoin (BTC) community as Joe007 vanished, as the price of the top-ranked cryptocurrency by market capitalization hit $10,000. Joe007 left with a farewell letter on May 7 on Twitter—which can no longer be seen after he deleted his account—describing his time on Twitter as an “experiment.” He also removed himself from the Bitfinex Leaderboard, no longer showing his trades and the profitability of his positions publicly. His departure came after a short contract he placed when Bitcoin was hovering at $6,800 hit $20 million in unrealized loss, resulting in a $15 million loss on paper for the whale.

Bitfinex Derivatives Launches Bitcoin Dominance Perpetual Swaps

The derivatives platform for Bitfinex cryptocurrency exchange is launching a new perpetual swaps product today that enables traders to speculate on Bitcoin dominance. The derivatives platform for Bitfinex cryptocurrency exchange is launching a new perpetual swaps product today, May 6, that enables traders to speculate on Bitcoin (BTC) dominance. Dominance, which refers to Bitcoin’s share of the total market capitalization for all cryptocurrencies, is a measure closely eyed by many in the community — whether they be altcoin developers and traders or diehard Bitcoin maximalists.  According to data from Coin360, BTC dominance stands at close to 67% as of May 5. Bitfinex Derivatives’ Bitcoin Dominance Perpetual Swap (BTCDOM) is ostensibly the first such contract to launch in the market.

Recap of Cointelegraph Talks: Bitcoin's Block Reward Halving

Industry leaders from Bitfinex, Poolin mining and TradeBlock research briefed a number of timely topics, including halving effects on Bitcoin amid COVID-19 uncertainty.

Crypto Whale Says Bitcoin (BTC) Halving Giving False Hope to Get-Rich-Quick Traders

A crypto whale who often ranks at the top of the Bitfinex leaderboard, but struggled in April, says the Bitcoin halving may pummel traders looking to make a quick buck.

Blockchain Bites: Bitfinex Sues, Miners Prepare, Congress Considers

The US Senate is considering blockchain voting during the COVID-19 crisis, while crypto becomes a mainstay in the Middle East.

Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M

Bitfinex and Tether’s parent company wants to question employees of at least three US banks about Crypto Capital – Bitfinex’s payment processor – accounts and holdings in an effort to recover more than $800 million.

Research Shines Light on Questionable Practices From Crypto Exchanges

An audit of the top 10K Ethereum addresses is bullish for Ether, but reveals a number of accounts involved in dubious practices. New analysis of the top 10,000 Ether wallet addresses certainly paints a very bullish picture for Ethereum as it moves towards Proof-of-Stake consensus.

Ether Futures Activity Grows Ahead of July Protocol Upgrade

A new BitMEX contract and soaring Bitfinex long positions suggest increased interest ahead of ETH 2.0.

New Crypto Bridge Will Make Tether Transactions Cheaper, CTO Says

Bitfinex and Tether CTO Paolo Ardoino says he hopes pToken – a project he has assisted – will make it easier for retail USDT holders to swap their tokens from one chain to another.