Chinese traders appear to be flocking to derivatives DEX dYdX amid concerns over a renewed crypto crackdown in China. Decentralized derivatives exchange dYdX has seen a surge in trade activity as concerns surrounding a renewed Chinese crypto crackdown have circulated this year, with the DEX now processing more volume than Coinbase’s spot markets for the…
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Following the latest statements from China’s central bank concerning cryptocurrencies and offshore crypto exchanges, massive amounts of funds have been moving onchain. On September 26, at approximately 1:00 a.m. (UTC) 72,999 BTC or $3.1 billion in bitcoin was dispersed to unknown wallets. Huobi to Gradually Retire Mainland China Users, 800K Ether Move from Huobi to…
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CSPR appears to be following DOT’s route to success as its IOU token latched on to the bull market’s momentum and rallied 2,300% before it’s even listed on major exchanges. Bull market cycles in the cryptocurrency market can be exhilarating for day traders and long-term investors alike, but the speed at which the prices move…
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Huobi Group is targeting institutional investors with its new crypto-focused private equity offerings. Huobi Technology Holdings — a part of the Huobi Group, which includes leading Seychelles-based cryptocurrency exchange Huobi Global — has launched four digital currency funds targeting $100 million in assets by September, setting the stage for wider institutional adoption. The company said…
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Coinbase and cryptocurrencies viewed cynically on Chinese social media, and news of a large mining GPU smuggling bust in Hong Kong. It was a relatively quiet week in China’s blockchain space as events were overshadowed by the surge in the BTC price and the Coinbase direct listing in the U.S. Many locals reacted with surprise…
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Retail investors are flocking to buy Filecoin on exchanges with predominately Chinese user bases and the head of the PBOC thinks the digital yuan has an uphill battle to take on Alipay and WeChat Pay. Distributed storage network project Filecoin is the talk of the town as FIL was the most highly traded token on…
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Crypto industry concern mounts ahead of the likely introduction of a bill to ban retail traders from cryptocurrency activities in Hong Kong. Crypto industry actors in Hong Kong have been trying to push back against a forthcoming law that would restrict legal cryptocurrency trading to professional investors, locking out 93% of the local population from…
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Bitcoin perpetual futures buyers are paying a 5.4% weekly funding rate to keep their positions open, but is this sustainable? Today Bitcoin (BTC) price rallied to a new all-time high at $44,900 shortly after Tesla announced a $1.5 billion investment. This event triggered $555 million worth of shorts to be liquidated in two hours and…
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Substantial spot volume, a favorable futures premium, and top traders buying the dip are all signals that Ethereum price should see continuation. After dropping 27% over three days, Ether (ETH) price finally reached a bottom at $1,040 on Jan. 22. The sharp correction liquidated $600 billion worth of future contracts but interestingly, Ether price rebounded…
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Huobi partnered with fiat and crypto payment processor AdvCash to unlock deposits and withdrawals in the Russian ruble. Major global cryptocurrency exchange Huobi is introducing Russia’s national fiat currency on its trading platform. According to a Jan. 12 announcement, Huobi Global now supports deposits and withdrawals in the Russian ruble. The new feature enables users…
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