More Crypto Development Means More Trading Returns, Findings Say

A new report preprint shows a correlation between crypto asset prices and their code developers.  “We reveal that the first coding event linking two cryptocurrencies through a common developer leads to the synchronization of their returns in the following months,” said a preprint research report titled, From code to market: Network of developers and correlated returns of cryptocurrencies.  It’s all in the code Destined by their code underpinnings, cryptocurrencies hold internal laws and guidelines concerning a number of aspects, such as security and availability, the beginning of the 37-page report explained.  …

Japanese Crypto Exchange bitFlyer Starts Trading Brave Tokens

One of the largest cryptocurrency exchanges in Japan and one of the biggest Bitcoin brokers worldwide just announced it would be adding a new coin for trading. In an April 9 press release, crypto exchange bitFlyer said it would start trading Brave’s Basic Attention Tokens (BAT) in Japan. It has been four months for bitFlyer to list a new coin since it supported Ripple (XRP) December 2019 BAT was recently approved by FSA for trading. GMO coin, another exchange registered with FSA, just started trading it last month.  Brave benefiting…

Gemini Adds Support for Dai, Chainlink and Orchid Trading This Month

The Gemini cryptocurrency exchange and trading platform is adding support for three more tokens on April 24. Gemini announced the addition of trading pairs featuring Dai (DAI), Chainlink (LINK), and Orchid (OXT) in a blog post on April 9. The new additions will bring the total number of tradable tokens on Gemini’s platform up to nine. Additions based on markets and consumption models Gemini has chosen these tokens in particular for their proven markets and novel consumption models, which suggest the demand will continue to grow as the ecosystem evolves.…

Oobit’s ‘SkyScanner for Bitcoin Trading’ Fails to Meet Expectations

Peer-to-peer, or P2P, trading platform, Oobit, has launched its purportedly SkyScanner-styled Bitcoin (BTC) price aggregator, Oobit Hunter. Oobit has also launched ‘Pass’ — “a single KYC passport for use on multiple trading platforms” that allows traders to access multiple exchanges simultaneously. Despite bold claims of offering unprecedented trading functionality, Hunter appears to host little more than a collection of affiliate links and a P2P exchange listing that facilitates trade between users and Oobit’s CEO. Coinbase partners with crypto liquidity aggregator Oobit’s Hunter is described as “an AI-driven liquidity aggregator” that…

Bitcoin Trading Near Crucial Juncture, Can 100 SMA Produce New Rally?

Bitcoin is down more than 5% from the $7,470 swing high against the US Dollar. BTC is now trading near a crucial support at $6,700 and the 100 SMA (H4). Bitcoin started a fresh decline from the $7,470 monthly high and traded below $7,000. There is a crucial support forming above $6,700 and the 100 simple moving average (4-hours). There was a break below a major bullish trend line with support at $7,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could start a…

Is Technical Trading in Cryptocurrency Markets Profitable?

In two recent studies, I investigated the technical trading rules in the cryptocurrency market and profitability of technical trading rules among cryptocurrencies with a privacy function. In our first study, we collected daily price data on eleven cryptocurrencies for the period Jan. 1, 2016 to Dec. 31, 2018. Our sample consisted of cryptocurrencies exhibiting the highest market capitalization as at Jan. 3, 2016. Our main sample comprised Ripple (XRP), Litecoin (LTC), Ether (ETH), Dogecoin (DOGE), Peercoin, BitShares, Stellar Lumen (XLM), Nxt, MaidSafeCoin and Namecoin. Using a simple buy-and-hold strategy of an…

Grayscale Ethereum Trust Trading at 515% Premium

Investors are paying a 515% premium to buy Ether through the Grayscale Ethereum Trust. It costs $90.55 to buy a share in Grayscale Investments’ Ethereum Trust (ETHE), however its Ether holdings per share are currently worth just $16.10. That means it’s five times more expensive to buy Ether via the trust than on the open market. 04/09/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products. Total AUM: $2.5 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/S68eNk8tEN — Grayscale (@GrayscaleInvest)…

Former Bakkt CEO to Sell All Holdings After Insider Trading Accusations

Following major accusations of insider stock trading during the coronavirus-induced market crash, Senator Kelly Loeffler (R-GA), the former CEO of Bakkt, is liquidating her holdings with her husband. In an April 8 tweet, Loeffler said that she and her husband Jeffrey Sprecher, CEO of ICE, which is the company that owns Bitcoin (BTC) options contracts regulator Bakkt, are liquidating their holdings in managed accounts to focus on tackling the coronavirus situation. “I’m doing it because the issue isn’t worth the distraction” The former CEO of Bakkt has also published an…

Blockchain Gaming Firm Animoca Creates Private Trading Hub for Shareholders

Following its delisting from the Australian Securities Exchange (ASX) last month, blockchain gaming startup Animoca Brands has engaged an online marketplace to continue private trades of shares in the company. Animoca Brands —  the parent company of TSB Gaming — has made its mark on the blockchain gaming space in recent years by collaborating with big-name firms such as Tetris creator Atari and signing a global licensing agreement with Formula 1. On April 9, Animoca released details of its engagement with PrimaryMarkets, an Australia-based online marketplace for the trading of…

Dutch Brokerage Platform Launches Crypto Trading Across Europe

In response to the growing demand for cryptocurrency trading, Dutch retail brokerage platform BUX launched its commission-free cryptocurrency trading platform BUX Crypto. In a statement published April 8, the company announced that BUX Crypto is now available across 25 European countries. BUX stated that its new offering aims to bring new traders into cryptocurrency markets by simplifying the crypto trading process. BUX CEO and founder Nick Bortot said: “We see BUX Crypto as a natural extension of our current lineup, which is focused on offering products that make it simple…