Shenzhen Identifies 39 Crypto Exchanges Defying Trading Ban

Cryptocurrency exchanges operating illegally in one city in China will face the wrath of a joint government effort to oust them, reports claim. On Nov. 22, authorities in Shenzhen have identified a total of 39 exchanges falling foul of China’s cryptocurrency trading ban, according to local news outlet Sanyan Finance.  PBoC highlights Bitcoin and Ethereum in probe The operation reportedly included participation from China’s central bank, the People’s Bank of China (PBoC), the Economic Investigation Bureau of the Municipal Public Security Bureau and the Municipal Communications Administration.  It remains unknown…

Trading App for Kraken Futures Is Now Available on iOS and Android

San Francisco-based cryptocurrency exchange Kraken announced that it is introducing a mobile version of its Kraken Future trading app. New opportunities for futures trading On Nov. 21, Kraken announced on its blog that it is launching a mobile app version of Kraken Futures, which was created earlier this year after acquiring Cryptofacilities and was previously only available on a web browser. The app will be available on both the iOS and Android platforms. According to its website, Kraken Futures is a professional trading platform for derivatives on digital assets, where traders…

ShapeShift Is Launching a Token for Free Cryptocurrency Trading

ShapeShift now offers its users fee-free trading in the form of an ERC-20 token.  The self-custody trading platform announced today, November 20, 2019, that it is instituting limited free trading through its FOX token. ShapeShift hopes the incentives token will “entice users away from custodial exchanges,” according to a press release from the privacy-focused cryptocurrency exchange. All registered ShapeShift users will initially receive 100 FOX tokens free of charge. Each token entitles its holder to $10 worth of free trading volume for rolling, 30-day periods. In effect, this means that…

Ripple (XRP) Price Trading Near Crucial Juncture, Can Bulls Make It?

Ripple price is currently correcting higher and is trading above $0.2520 against the US dollar. The price seems to be approaching a major resistance area near the $0.2600 level. This week’s crucial bearish trend line is intact with resistance near $0.2600 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also correcting higher, but it is likely to face resistance near $180. Ripple price is gaining bullish momentum against the US Dollar and bitcoin. However, XRP price must break the $0.2600 resistance to move into…

Chainalysis Says BitForex Trading Volumes Could Be Fake

BitForex exchange could be faking its bitcoin trading volume, according to a report released Friday by crypto auditors Chainalysis. For every one bitcoin recorded entering on-chain between January and November, BitForex claims some 40,000 bitcoins trades traded, the Chainalysis report said. That compares to most leading exchanges average with about 6 bitcoins traded to one on-chain.  “There should be a relationship with the bitcoin moving onto the exchange and how much it is traded,” Philip Gradwell, chief economist for Chainalysis and compiler of the report, said. The findings of the…

Ethereum (ETH) Trading Near Last Line of Defense

Ethereum price is struggling to climb higher above the $188 resistance against the US Dollar. The price is currently trading near the $182 support area, which holds the key. There is a key bearish trend line forming with resistance near $185 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is declining and is struggling to stay above the $8,500 support area. Ethereum price is facing a fresh round of selling versus the US Dollar, similar to bitcoin. ETH price remains at a risk of more downsides if…

Bitfinex Looks to Launch Options Trading As Soon As Q1 2020

According to an executive, cryptocurrency exchange Bitfinex is planning to launch options and a gold-backed stablecoin, among a host of new products. New range of products In a Nov. 12 appearance on the Scoop, Paolo Ardoino, CTO of Bitfinex and Tether, told the Block that Bitfinex is considering launching options trading, while also taking a closer look at prospects for a gold-backed stablecoin, dubbed Tether Gold. Although Ardoino didn’t reveal any additional details about Tether Gold, he did reveal that the company is currently eyeing a Q1 2020 launch of…