Author: Andrei Ionescu
OKX has announced its decision to delist several margin trading pairs, including KISHU/USDT, in a bid to enhance market liquidity and improve the overall trading experience for users. The delisting schedule is as follows: At the delisting time, OKX will suspend margin trading and flexible loan services for the affected pairs. Open margin orders will be canceled, and the suspension of each pair will take about an hour. Users with ongoing borrowings or collateral in KISHU/USDT margin trading are advised to repay their loans before the delisting time to avoid forced repayment. To mitigate potential risks from price fluctuations, OKX…
Despite the growing political divide in the cryptocurrency industry, many investors believe bitcoin will thrive in the long term, no matter who wins the U.S. presidential election in November. This optimism follows a period of heightened excitement over former President Donald Trump’s pro-crypto remarks earlier in the year. Concerns that a potential Kamala Harris presidency could harm bitcoin’s price are overstated, according to James Davies, co-founder of Crypto Valley Exchange. While the regulatory landscape might become more challenging for crypto startups, the overall industry will continue to advance, particularly with bitcoin becoming more institutionalized through the introduction of U.S. bitcoin…
Stablecoin transactions in Singapore reached a record high of nearly $1 billion in the second quarter of 2024, driven primarily by payments at merchant outlets, according to a new report by digital-asset consultancy Chainalysis. The study highlighted the increasing adoption of stablecoins—cryptocurrencies designed to maintain a stable value, typically pegged to the U.S. dollar—by businesses for their efficiency and low transaction costs. Eric Jardine, Chainalysis’ Cybercrimes Research Lead, noted that stablecoin payments in Singapore grew significantly from $161 million in the second half of 2023. Despite the sharp rise, stablecoin usage still represents a small fraction of Singapore’s overall payment…
Binance, one of the largest cryptocurrency exchanges in the world, has announced a scheduled system upgrade for its Spot and Margin trading platforms. The upgrade is set to begin on September 19, 2024, at 09:30 UTC and is expected to last approximately 10 minutes. The exchange assured users that trading activities will continue uninterrupted during the upgrade. However, some functionalities will be temporarily impacted, including the ability for App, Website, and Desktop users to view open orders placed during the upgrade. As a result, users may be unable to cancel pending orders that are not visible during this period. Key…
Bitcoin is showing signs of potentially hitting a market bottom, as bearish sentiment and macroeconomic uncertainties weigh heavily on both crypto and traditional markets, according to a recent report by K33 Research. Analysts Vetle Lunde and David Zimmerman highlighted that negative perpetual funding rates in the bitcoin market could be an indicator of future price recovery. In recent weeks, bitcoin has faced downward pressure due to economic concerns, including potential Federal Reserve rate cuts and weak U.S. job data. This has led to widespread risk aversion across financial markets, with the S&P 500 and Nasdaq also posting negative returns at…
Following Tuesday night’s presidential debate, U.S. Vice President Kamala Harris’ odds of winning the November election surged on crypto-based prediction platform Polymarket, putting her in a tie with former President Donald Trump. Polymarket’s $860 million market showed both candidates with 49% odds of victory, a shift from Monday when Trump led with 52%. The debate, which covered key topics like the Gaza conflict and abortion rights, saw no mention of cryptocurrency. However, Harris’ debate performance was favored by Polymarket bettors, with 94% believing she won, though official polls have yet to confirm this. Harris’ odds rose from 46% to 49%,…
Despite significant market challenges, crypto adoption has remained steady in the U.S. and the U.K., signaling a potential rebound in the retail market, according to Gemini’s newly released 2024 Global State of Crypto report. Based on a survey of 6,000 individuals across the U.S., U.K., France, Singapore, and Turkey conducted from May 23 to June 28, the report reveals that crypto adoption has remained consistent, with 21% of U.S. respondents and 18% of U.K. respondents holding digital assets in both 2022 and 2024. In contrast, France saw a rise in crypto ownership, moving from 16% to 18%, while Singapore experienced…
Bitcoin (BTC) trading volume reached unprecedented levels in the first eight months of 2024, surpassing the previous records set during the 2021 bull market. According to data from Paris-based analytics firm Kaiko, the cumulative notional trading volume representing the dollar value of BTC bought and sold on centralized exchanges totaled a staggering $2.874 trillion between January and August. This figure marks a nearly 20% increase over the $2.424 trillion recorded during the same period in 2021, making it the highest bitcoin trading volume since 2012. “The rise in crypto volatility has been accompanied by increased market participation, at least in…
A potential 50 basis point (bps) interest rate cut by the U.S. Federal Reserve (FED) next week could spark concern among risk assets, including Bitcoin (BTC), according to a report from 10X Research. The Fed is widely expected to begin a rate-cutting cycle, and the first reduction is anticipated during the Federal Open Market Committee (FOMC) meeting on September 18. While lower interest rates typically stimulate markets, the unusually large cut could signal heightened economic risks, causing investors to reassess their exposure to risk assets such as cryptocurrencies and stocks. “While a 50 basis point cut by the Fed might…
Tokocrypto, an Indonesian cryptocurrency exchange owned by Binance, has become the third exchange in the country to secure a full license as a Physical Crypto Asset Trader (PFAK) from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This milestone comes after Binance’s acquisition of Tokocrypto in late 2022, having previously been the majority shareholder in the exchange. The license grants Tokocrypto the authority to operate under Indonesia’s evolving regulatory framework for crypto assets. In 2023, Indonesia introduced a requirement for all crypto exchanges to register with the Commodity Future Exchange (CFX)—the world’s first national bourse for crypto assets, regulated by Bappebti.…