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A small fraction of bitcoin trading volume, just 9.49%, exist on registered US crypto exchanges, leaving tons of transactional revenue off the table for platforms like Coinbase and Kraken.  And a newly released report from CCData suggests that American exchanges have been giving up more and more of their share of bitcoin (BTC) trades since at least January 2023, with March being an uncharacteristically good month.  So where is all this bitcoin volume? The data suggests that bitcoin trading volume, as well as the volume for most other tokens, remains on Binance. In June, users traded $239 billion worth of crypto on Binance’s spot markets, representing a 12.6% jump from May.  Coinbase, which CCData noted represents 61% of bitcoin trading volume among US exchanges, has a much smaller share of the total pie with just $30 billion compared to Binance’s nearly quarter of a trillion. And Kraken’s total spot trading volume was half that of Coinbase at $16.2 billion. CCData researchers...

According to CoinShares, digital asset investment product outflows amounted to $88 million last week. On June 12, European cryptocurrency investment firm CoinShares published its latest weekly “Digital Asset Fund Flows Report,” revealing that cryptocurrency investment products experienced outflows of $88 million last week. The substantial drawdown added to the ongoing eight-week streak of outflows , which now total $417 million. Analysts at CoinShares have attributed this ongoing trend to monetary policy considerations, as interest rate hikes show no signs of slowing down, prompting investors to remain cautious. Digital asset investment products have seen a substantial drawdown over the past 2 months. Source: CoinShares In the past week, Ether (ETH) products witnessed $36 million of outflows , marking the largest weekly outflows for the asset since the Ethereum Merge in September 2022. Meanwhile, Bitcoin (BTC) investment products witnessed outflows totaling $52 million during the a...

When billionaire and Dogecoin evangelist Elon Musk changed Twitter’s logo to the doge mascot in April, no one was laughing but him. According to a group of investors suing Musk, it’s just another example of the world’s richest man manipulating the memecoin’s price to engage in insider trading. In a proposed third amended complaint filed on Wednesday in Manhattan federal court, investors say Musk sold about $124 million of dogecoin after Twitter’s logo change led to a 30% price jump. The court case, ongoing since last June, argues that Musk used social media posts, paid online influencers, a Saturday Night Live appearance, and other “publicity stunts” to pump doge and sell at a profit. Musk was able to defraud investors through a “deliberate course of carnival barking, market manipulation and insider trading,” the latest filing read. The Tesla chief is accused of driving up dogecoin’s price by over 36,000% over two years and letting it crash. At the end of 2021, Protos investigated...

Some pundits have argued the trader mistakenly put up a bid for 100 ETH which was quickly snapped up, while others believe the sale was a wash trade. A nonfungible token (NFT) trader has seemingly fat-fingered a trade for a free NFT, buying it for 100 Ether (ETH), currently valued at $191,239, representing a 250,000% increase on the floor price of 0.04 ETH. The token was part of NFT marketplace OpenSea’s Gemesis NFT collection — free NFTs intended to commemorate the launch of OpenSea Pro on April 4. OpenSea Pro is a Marketplace aggregator tailored to professional users by providing them with what OpenSea calls “a vastly improved” suite of Features such as live cross- Marketplace data and advanced orders. A record of the transaction on an Ethereum blockchain explorer. Source: Etherscan While some have argued the sale was wash trading, Twitter user “0xSun” believed the sale — which occurred on the NFT marketplace Blur — happened because the trader wanted to bid $100 as an amount, but a...

Derivatives liquidity protocol Synthetix seals new partnership with DWF Labs, landing a $20 million investment from the quantitative trading firm. Tokenized asset issuance platform Synthetix has secured a $20 million investment through a new partnership with Web3 investment and quantitative trading firm DWF Labs. The market making and algorithmic trading company acquired $15 million worth of Synthetix’ native token SNX paid for with USD Coin (USDC) in March 2023. DWF Labs will be tasked with increasing SNX token Liquidity and market making across centralized and decentralized exchanges. Synthetix’ perpetual futures will be integrated into DWF Labs’ trading business as part of the deal. DWF Labs has also committed to purchase another $5 million worth of SNX tokens once the integration of Synthetix’ services has been completed. Synthetix allows users to tokenize a variety of real-world assets into derivatives called Synths, which provide exposure to a range of different assets. Hold...

The freedom to stick to what makes the most sense financially sprouted various classes of investors, each distinguished by their intent behind crypto investments. For the first time since the 7th century, the paper-money economy found its true competition in the internet era. With Bitcoin’s (BTC) debut in 2010, the fiat ecosystem was not only challenged with proving its worth in day-to-day transactions but also safekeeping the investment ecosystem it helped build. Over the years, the crypto ecosystem attracted people from all walks of life — serving their unique financial needs while filling the gaps left wide open by the fiat ecosystem. While most of the world watched from the sidelines, trying to decipher the true potential of cryptocurrencies, the first batch of Bitcoin millionaires swayed investors’ attention toward the budding ecosystem. The freedom to stick to what makes the most sense financially sprouted various classes of investors, each distinguished by their intent behind c...

It’s a hard year to trade, but there are measures you can take to increase the likelihood you’ll succeed if you want to trade Ether. Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading . During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell for reasons other than you assumed. Despite the uncertainty, there are sometimes still strategies you can use to trade certain tokens successfully. Ether (ETH) is arguably where you might be able to succeed this year. Here are three tips that might help. Understand what actually affects ETH price movements There are many ways to analyze the price of a given cryptocurrency, and different price valuations will be given depending on the model used and how much weight is given to a specific set of conditions. But ...