Coincheck Announces Qtum Soon Available for Trading

Japan may be on its way to creating a state-issued digital currency, but local companies in the world’s third-largest economy can still innovate and provide some healthy competition.   Coincheck, the crypto exchange based in the Asian nation, currently handles trading, selling, and buying for eleven cryptocurrencies. They announced on Feb. 25 that they were planning to add another to the mix. The cryptocurrency Qtum (QTUM) will soon be the 12th available for trading on the exchange.  How will Qtum be different from existing Coincheck cryptocurrencies? As with other cryptocurrencies the…

CME Bitcoin Futures Daily Trading Volume Hits 2020 Low – That’s a Bullish Sign

Daily trading volume in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.  The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets.  What’s worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019.  Bitcoin CME futures contracts, which went live in…

Juventus Soccer Club Offers Digital Trading Cards through Sorare

The Italian soccer team Juventus has a number of traditional collectibles available for purchase by its fans, but this week it’s taking them into the digital age. The sports club announced on Feb 19. it would be offering digital trading cards of its players through the blockchain-enabled platform Sorare. By using Ethereum technology, Sorare will provide digital cards that soccer fans can collect and trade. The cards function like non-fungible tokens and will feature star players like forward Cristiano Ronaldo.  Used in conjunction with the platform’s fantasy soccer game, the…

Ripple (XRP) Trading Near Make-or-Break Levels, Can Bulls Break This?

Ripple corrected lower sharply and broke the $0.3000 support area against the US Dollar. XRP is now trading near the key $0.2640 support and it must break $0.2900 for a fresh increase. Ripple price is currently consolidating above the key $0.2640 support area against the US dollar. Bitcoin is also trading in a range above the key $10,500 support area. There is a major bearish trend line forming with resistance near $0.2860 on the 4-hours chart of the XRP/USD pair (data source from Kraken). A clear break above $0.2900 and…

Watch Chartist Dan McDermitt Debate Analyst Ronnie Moas on Why Trading Can Beat Hodling

This week, technical analyst Dan McDermitt of The Chart Guys educational platform debates Standpoint Research founder Ronnie Moas on trading versus holding. Can traders really outperform a simple buy and hold Bitcoin investment strategy? McDermitt sees trading as a profitable route. “Had I just bought and held, I would be doing a lot more poorly than my current trading,” he said. McDermitt said trading over the past two and a half years has netted him between 3,000% and 5,000% in profits, whereas simply buying and holding Ethereum would have only…

Trading Veteran Says XRP Is Forming a Major Reversal Pattern

Ripple’s XRP went through a steep bull rally since the beginning of 2020 that saw its price surge by nearly 90%. Now, it seems the token has reached exhaustion and one of the most prominent technical analysts in the industry estimates that it could face a steep correction.  XRP Is on the Verge of a Major Price Movement Peter Brandt, a 45-years trading veteran, recently pointed out that a head-and-shoulders pattern could be developing on XRP’s 1-day chart. This technical formation is considered to be one of the most reliable…

Crypto Exchange Binance Suspends Trading Over ‘Systems Messaging Error’

Binance, the world’s largest cryptocurrency exchange by trading volume, suspended trading on Wednesday, alerting users of an outage due to “temporary system maintenance.”  The exchange has suspended deposits, withdrawals, spot trading, margin trading, person-to-person trading, lending, redemption and asset transfers from sub-accounts, margin accounts, futures accounts and wallets that hold government-issued or “fiat” currencies, according to a notice posted on the company’s website.  Futures trading is unaffected, the exchange said.  Josh Goodbody, Binance’s London-based director for growth and international business, told CoinDesk in a series of WhatsApp messages there was…

How Cryptocurrency Trading Has Evolved in Recent Years

In the early days of blockchain, cryptocurrency trading was seen by many as merely exchanging a few dollars for Bitcoins (BTC). The birth of other tokens and the high volatility in cryptocurrencies have led many traders to speculate by buying a few coins through exchanges in hoping the value will increase for the sake of profit.  The decision to switch to floating exchange rates was made in the second half of the last century, when it became clear to financial institutions that they could not provide the right amount of…

Nasdaq, Morgan Stanley Trading Vets Build Startup to Unite Crypto Market Price Ranges

A group of trading vets from NASDAQ, Visa and Morgan Stanley say they’ve built a liquidity solution for the world’s disparate cryptocurrency markets.  After 18 months of development, their project, Apifiny, came out of stealth Wednesday with a new platform targeting exchanges hampered by low liquidity: ExOne. It is an emerging finances back-end tool tied to technological advances in traditional markets, which, despite their off-chain standing, have myriad advantages over crypto exchanges. “These marketplaces are highly fragmented and remarkably inefficient,” said Co-Chairman David Wield, a former vice chair of NASDAQ.…

CME Sees Second-Best Month for Bitcoin Futures Trading

January was the second-best month for CME’s Bitcoin futures trading since its 2017 launch, averaging 10,800 contracts, 69% greater than the average daily volume in 2019. Last month also saw new options on Bitcoin futures picking up pace. Since launch, 466 options contracts, or 2,300 equivalent Bitcoin, have traded—nearly 40% as blocks, showing signs of institutional interest, CME said. It also registered a record monthly average of 56 large open interest holders (entities that hold 25+ contracts). The Chicago Mercantile Exchange (CME) launched its Bitcoin futures options last month, with…