BitDegree Price Reaches $0.0009 on Exchanges (BDG)

BitDegree Price Reaches $0.0009 on Exchanges (BDG)

BitDegree logoBitDegree (CURRENCY:BDG) traded 8.3% lower against the US dollar during the 24 hour period ending at 20:00 PM E.T. on July 12th. One BitDegree token can now be purchased for approximately $0.0009 or 0.00000010 BTC on popular cryptocurrency exchanges including Cobinhood, Tidex, IDEX and HitBTC. During the last seven days, BitDegree has traded 13.2% lower against the US dollar. BitDegree has a total market capitalization of $342,488.17 and approximately $160.00 worth of BitDegree was traded on exchanges in the last 24 hours.

Here is how related cryptocurrencies have performed during the last 24 hours:

  • Crypto.com Coin (CRO) traded down 0.5% against the dollar and now trades at $0.14 or 0.00001558 BTC.
  • Huobi Token (HT) traded 0.3% higher against the dollar and now trades at $4.21 or 0.00045373 BTC.
  • Acash Coin (ACA) traded 60.8% lower against the dollar and now trades at $0.0789 or 0.00000851 BTC.
  • Maker (MKR) traded 2% lower against the dollar and now trades at $458.83 or 0.04950698 BTC.
  • Basic Attention Token (BAT) traded 0.6% lower against the dollar and now trades at $0.26 or 0.00002784 BTC.
  • IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.
  • Aave (LEND) traded 0.3% higher against the dollar and now trades at $0.23 or 0.00002515 BTC.
  • OKB (OKB) traded down 0.1% against the dollar and now trades at $4.99 or 0.00053861 BTC.
  • Kyber Network (KNC) traded 3% lower against the dollar and now trades at $1.60 or 0.00017284 BTC.
  • FTX Token (FTT) traded 1.1% higher against the dollar and now trades at $3.10 or 0.00033460 BTC.
  • BitDegree Profile

    BitDegree (CRYPTO:BDG) is a token. Its genesis date was December 1st, 2017. BitDegree’s total supply is 514,800,000 tokens and its circulating supply is 384,560,931 tokens. BitDegree’s official website is www.bitdegree.org. BitDegree’s official Twitter account is @bitdegree_org and its Facebook page is accessible here. The Reddit community for BitDegree is /r/BitDegree and the currency’s Github account can be viewed here.

    Buying and Selling BitDegree

    BitDegree can be purchased on the following cryptocurrency exchanges: IDEX, Tidex, HitBTC and Cobinhood. It is usually not currently possible to purchase alternative cryptocurrencies such as BitDegree directly using US dollars. Investors seeking to trade BitDegree should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase BitDegree using one of the aforementioned exchanges.

    Receive News & Updates for BitDegree Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for BitDegree and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

    Source: www.dispatchtribunal.com

    Author: Erica Schwartz


    Nigerian Scammers Used Gemini Exchange To Siphon Millions In Bitcoin

    Nigerian Scammers Used Gemini Exchange To Siphon Millions In Bitcoin

    Nigerian scammers converted millions of dollars into BTC via the Gemini crypto exchange according to an FBI criminal complaint that we are looking more into in the upcoming Bitcoin news.

    The two Nigerian scammers who filled their social media accounts with pictures of immense wealth were extradited from Dubai to the United States. According to the FBI, they were able to siphon millions of dollars worth of Bitcoin via the Gemini exchange. The two are Ramon Olorunwa Abbas with the aliases “Ray Huhspuppi” and “Hush” and Olalekan Jacob Ponle known as “Mark Kain” and “Mr. Woodbery.” The FBI complaint focused on the former’s activities and how he used Bitcoin to transfer stolen funds.

    According to the FBI, Ponle and his accomplices engaged in a scheme known as business email compromise which means a criminal will gain access to legitimate business email accounts and then will start manipulating the employees of the company into transferring company funds to the criminal’s bank account. The complaint alleged that Ponle and his accomplices defrauded multiple American companies of tens of millions of dollars and converted $6.5 million into 1500 BTC:

     “Preliminary blockchain analysis indicates that PONLE received at least 1,494.71506296 bitcoin related to these BEC schemes, valued at approximately $6,599,499.98 at the time he received the proceeds.”

    The complaint also said that it is clear Ponle was not concerned about covering his tracks on the VTC network because he was using the same address since 2014. Gemini crypto exchange was the preferred exchange among criminals which is interesting because the exchange is considered one of the most compliant in the industry. Ponle’s associate confirmed the $2,149,000 that were deposited to Gemini and converted to BTC. These transactions were traced on the Bitcoin blockchain when the bitcoin price was set at $3500. Another transaction took place on January 17th, 2019 when Ponle’s accomplice converted $119,000 into 33.13 BTC and the transaction originated from an unidentified address.

    The FBI was able to infiltrate Ponle’s inner circle when an agent started communicating with Ponle using the same handle that was used by one of his associates. Gemini was the exchange of choice, for converting the stolen assets. LocalBitcoins and Huobi were the choices to cash out. 577 BTC was cleared via the former and 539 via the latter. Ponle urged his followers by posting:

     “YOU ARE WORTH THE PLEASURES OF YOUR LABOR 💙 Stop letting people make you feel guilty for the wealth you’ve acquired, especially when you paid in blood, sweat and tears, to have the things that are deemed “ un-purchase-able”.”

    Source: cryptomoneyteam.co

    Author: By TeamMMG


    Cryptopay 1-Day Trading Volume Hits $127.00 (CPAY)

    Cryptopay 1-Day Trading Volume Hits $127.00 (CPAY)

    Cryptopay logoCryptopay (CURRENCY:CPAY) traded down 15.6% against the US dollar during the 1 day period ending at 15:00 PM Eastern on July 12th. Cryptopay has a market capitalization of $2.00 million and approximately $127.00 worth of Cryptopay was traded on exchanges in the last day. One Cryptopay token can currently be bought for approximately $0.0293 or 0.00000317 BTC on popular cryptocurrency exchanges including HitBTC and IDEX. In the last seven days, Cryptopay has traded up 11% against the US dollar.

    Here is how similar cryptocurrencies have performed in the last day:

  • Crypto.com Coin (CRO) traded down 0.8% against the dollar and now trades at $0.14 or 0.00001558 BTC.
  • Huobi Token (HT) traded up 0% against the dollar and now trades at $4.20 or 0.00045489 BTC.
  • Acash Coin (ACA) traded down 60.8% against the dollar and now trades at $0.0789 or 0.00000855 BTC.
  • Maker (MKR) traded up 0.2% against the dollar and now trades at $463.14 or 0.05018616 BTC.
  • Basic Attention Token (BAT) traded down 0.3% against the dollar and now trades at $0.26 or 0.00002763 BTC.
  • IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.
  • OKB (OKB) traded 0.6% higher against the dollar and now trades at $4.99 or 0.00054086 BTC.
  • Aave (LEND) traded up 1.2% against the dollar and now trades at $0.23 or 0.00002469 BTC.
  • What future awaits cryptocurrencies?
    GOODBAD
  • Kyber Network (KNC) traded down 2% against the dollar and now trades at $1.60 or 0.00017361 BTC.
  • FTX Token (FTT) traded 1.4% higher against the dollar and now trades at $3.09 or 0.00033508 BTC.
  • Cryptopay Profile

    CPAY is a token. It launched on September 17th, 2017. Cryptopay’s total supply is 90,414,745 tokens and its circulating supply is 68,369,147 tokens. Cryptopay’s official Twitter account is @cryptopay and its Facebook page is accessible here. The official message board for Cryptopay is blog.cryptopay.me. The official website for Cryptopay is cryptopay.me.

    Cryptopay Token Trading

    Cryptopay can be purchased on the following cryptocurrency exchanges: IDEX and HitBTC. It is usually not presently possible to purchase alternative cryptocurrencies such as Cryptopay directly using US dollars. Investors seeking to trade Cryptopay should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Cryptopay using one of the exchanges listed above.

    Receive News & Updates for Cryptopay Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for Cryptopay and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

    Source: www.dispatchtribunal.com

    Author: Mickey Rousseau


    CryptoBonusMiles Reaches Market Capitalization of $114,015.13 (CBM)

    CryptoBonusMiles Reaches Market Capitalization of $114,015.13 (CBM)

    CryptoBonusMiles (CURRENCY:CBM) traded down 31.1% against the US dollar during the 1 day period ending at 23:00 PM ET on July 12th. In the last seven days, CryptoBonusMiles has traded 53.6% lower against the US dollar. CryptoBonusMiles has a market capitalization of $114,015.13 and approximately $21,005.00 worth of CryptoBonusMiles was traded on exchanges in the last 24 hours. One CryptoBonusMiles token can now be purchased for $0.0000 or 0.00000000 BTC on popular cryptocurrency exchanges including ProBit Exchange and Binance DEX.

    Here’s how similar cryptocurrencies have performed in the last 24 hours:

  • Crypto.com Coin (CRO) traded 0.8% lower against the dollar and now trades at $0.14 or 0.00001557 BTC.
  • Huobi Token (HT) traded down 0.1% against the dollar and now trades at $4.20 or 0.00045366 BTC.
  • Acash Coin (ACA) traded down 60.8% against the dollar and now trades at $0.0789 or 0.00000852 BTC.
  • Maker (MKR) traded 2.8% lower against the dollar and now trades at $455.59 or 0.04920751 BTC.
  • Basic Attention Token (BAT) traded 0.2% lower against the dollar and now trades at $0.26 or 0.00002801 BTC.
  • IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.
  • OKB (OKB) traded 1.4% lower against the dollar and now trades at $4.95 or 0.00053499 BTC.
  • Aave (LEND) traded down 6.1% against the dollar and now trades at $0.22 or 0.00002428 BTC.
  • FTX Token (FTT) traded 0.1% lower against the dollar and now trades at $3.09 or 0.00033385 BTC.
  • Kyber Network (KNC) traded 4.2% lower against the dollar and now trades at $1.59 or 0.00017149 BTC.
  • CryptoBonusMiles Token Profile

    CryptoBonusMiles (CRYPTO:CBM) is a token. It was first traded on May 13th, 2018. CryptoBonusMiles’ total supply is 5,000,000,000 tokens and its circulating supply is 4,999,998,301 tokens. CryptoBonusMiles’ official Twitter account is @aeron_aero. The Reddit community for CryptoBonusMiles is /r/AeronAero and the currency’s Github account can be viewed here. The official website for CryptoBonusMiles is cryptobonusmiles.com. CryptoBonusMiles’ official message board is medium.com/@aeronaero.

    Buying and Selling CryptoBonusMiles

    CryptoBonusMiles can be bought or sold on the following cryptocurrency exchanges: ProBit Exchange and Binance DEX. It is usually not presently possible to purchase alternative cryptocurrencies such as CryptoBonusMiles directly using US dollars. Investors seeking to acquire CryptoBonusMiles should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase CryptoBonusMiles using one of the exchanges listed above.

    Receive News & Updates for CryptoBonusMiles Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for CryptoBonusMiles and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

    Source: www.dispatchtribunal.com

    Author: Erica Schwartz


    Key Metrics Show Institutional Interest in Crypto Is High and Rising

    Key Metrics Show Institutional Interest in Crypto Is High and Rising

    The growth of the crypto derivatives market in 2020 has been a story of its own, mainly driven by Bitcoin (BTC) and Ether (ETH) options traded on exchanges such as the Chicago Mercantile Exchange, Deribit, OKEx, Binance and Houbi. 

    Record Bitcoin options volumes are indicative of an increasing institutional interest in crypto, but there are better quantitative and qualitative indicators to use, such as open interest, Bitcoin’s price, frequency of block trades, institutional Know Your Customer processes and others.

    Compared with traditional derivatives, the proportion of institutional investors in the entire pool is still small, but it is clear that the definitive rise in interest is driven by financial instruments such as options and futures. Options are not a panacea but rather a stage in the development of an asset, and as is evident, Bitcoin and Ether have both reached that point in their evolutions. Speaking to Cointelegraph, Luuk Strijers, chief commercial officer of crypto derivatives exchange Deribit, echoed similar thoughts, stating that “the inflow of institutional investors money into crypto is still very nascent,” adding:

    “There are however various indicators signaling the gradual adoption of crypto or BTC more specifically into institutional portfolios. Traditional finance tends to prefer traditional instruments like options and futures, volumes and open interest in those instruments are clear indicators of potential growing institutional demand.”

    Considering only the reported volumes of Bitcoin and Ether could be misleading to investors and speculators alike, as derivatives volumes are often subject to being skewered by bots, wash trading and misreporting. A better volume indicator would be the amount of BTC moving in and out of derivatives exchanges such as Deribit. Such analytics are provided by several firms that extract insights from on-chain data.

    After Bitcoin options volumes saw a 1,000% rise on CME in May, derivatives volumes dropped 35.7% in June to $393 billion. However, the total option volumes for Bitcoin options on CME once again set a new record monthly high, jumping 41% with 8,444 contracts traded. Cointelegraph confirmed this increase with a CME spokesperson who provided insight on the trending open interest of BTC options, stating: “In June, CME bitcoin options had 12 consecutive days of record OI, culminating with a record 9,858 contracts (49,290 equivalent bitcoin) on June 26.”

    While increased volumes indicate rising interest in crypto from both the public and institutions that are trying to hedge against volatility and shelter assets during the COVID-19 pandemic and looming global financial crisis, open interest proves to be a better indicator of institutional interest, as it signifies buy-side interest and isn’t as flawed a metric to make this distinction as reported volumes would be. The spokesperson from CME agreed, saying: 

    “In our CME Bitcoin futures market, the number of large open interest holders (LOIHs), or traders holding 25 or more contracts, grew to an average of 65 LOIHs in Q2 2020. That’s a 27% increase from Q1 and a new record. Large open interest holders are large traders as defined by the CFTC, and therefore may be another indicator of institutional participation.”

    CME Options on Bitcoin Futures Daily Open Interest

    Block trades are privately negotiated futures/options contracts that meet certain quantity thresholds and are usually executed on the sidelines of the public auction market. As institutional investors and traders usually trade in higher ticket sizes, the percentage of block trades within the overall volume could also serve as an indicator of institutional interest in crypto. CME’s spokesperson further confirmed this hypothesis:

    “Block trading of CME Bitcoin options has grown steadily since their January 2020 launch — blocks accounted for 79% of all CME Bitcoin options volume in June, compared to 22% in April. It’s worth noting that the minimum block trade size for both CME Bitcoin futures and options is 5 contracts (equivalent to 25 Bitcoin). So increased block trading could be indicative of increased institutional participation.”

    To understand more about the phenomenon of block trades among crypto-exclusive exchanges, it is important to consider Deribit, as it’s the biggest platform for these instruments. In June, the biggest quarterly expiration date yet occurred, with 115,000 contracts expiring, of which Derebit maintained 74,000. Deribit’s Strijers further elaborated on the relevance of open interest and block trades, revealing:

    “Total BTC options market open interest was just below USD 2 billion, another record and confirmation of client interest in the asset class. We also see an increase in the relative number of BTC option block trades from 6–8% on average per month to almost 12% of the June 2020 volume.”

    By the end of the second quarter, BTC volatility had been markedly dampened, which in itself is a lucrative sign for institutional involvement due to institutions’ preference for stability. By comparison, retail-driven markets often see wild swings. According to Jay Hao, CEO of OKEx — a Malta-based cryptocurrency exchange — stability is a sign that “Bitcoin is maturing as an asset class,” adding in a conversation with Cointelegraph:

    “When institutional traders started becoming interested in BTC, volatility was a red flag that kept many away. Yet, with today’s panorama, we are seeing more volatility currently in traditional markets. This could be another reason behind the new interest from traders wanting to diversify their portfolios and finally seeing Bitcoin as a viable option for a hedge at last with a sophisticated derivatives market and options trading.”

    Related: Bitcoin Price Touted to End Stagnation in Style, Surging to New High

    It’s important to note that the reduced volatility of Bitcoin’s price alone is not enough to draw conclusions regarding levels of institutional involvement. John Todaro, head of research at TradeBlock — one of the largest digital currency platforms for trade executions — told Cointelegraph: “Bitcoin has had levels of dampened volatility in the past before resuming wild market swings—2018 is a good year to see this. As such, reduced volatility alone would not indicate institutional involvement.”

    Bitcoin-S&P500 Realized Correlation

    In the recent past, Bitcoin’s price has shown a correlation with the S&P 500, which can be taken as a representative index for the global equities market. Todaro further explained on what this entails for institutional interest:

    “The moderate to strong correlation between equities and Bitcoin the past several months has been a good example of rising institutional interest. Large trading firms tend to push assets into directions of positive or negative correlation, which we have seen recently between Bitcoin and equities. In the past, Bitcoin has behaved very non-correlated, almost indicating a complete divorce from traditional financial markets.”

    Bitcoin exchange-traded funds are derivatives products that are traded using Bitcoin as their underlying assets, either fully or partially. Once the Securities and Exchange Commission approves Bitcoin ETFs, they are expected to become huge, being a watershed moment in the life cycle of BTC as an asset class and likely boosting retail demand and penetration, as revealed by Todaro: “A Bitcoin ETF in my opinion would actually increase retail trading activity given ETFs themselves are often geared for more retail like traders as a simple exposure opportunity.”

    Not only would this bring more retail investors in the fold, but it would also be an incentive for institutions to engage with an investment vehicle that they are very familiar with — with the SEC’s seal of approval easing institutional concerns about exposing their clients to unregulated markets. OKEx’s Hao elaborated on this: 

    “Everyone in the space has long been awaiting the approval of a Bitcoin ETF as this will certainly increase demand from institutions as they can gain exposure for their clients to bitcoin without having to own it or deal with exchanges. They can greatly diversify their holdings without exposure to many of the risks that trading and owning BTC implies.”

    Grayscale Bitcoin Trust has become a force to reckon with, managing record amounts of funds and with institutions comprising 88% of its investors. Beyond this, traditional players such as the Big Four accounting firms are jumping into the crypto market, and even Western Union is making a bet. This change is also traceable on platforms such as TradeBlock, as Todaro further explained: “We have seen a considerable amount of interest from new and existing institutional traders/investment firms as they scale up in the crypto space.”

    Related: Two Sides of the Same Derivative: Comparing Traditional and Crypto Markets

    Strijers confirmed that this interest is being seen in Deribit as well. While the company does track its institutional KYC metrics, it does not publicly publish that information. Strijers went on to say, “The number of corporate entities we service keeps growing month on month, as well as the variety of new requests received to specifically develop services for funds or discretionary asset managers.”

    The latest news that PayPal may allow Bitcoin payments further lends credibility to the space. And with a robust and vibrant derivatives market, plus the unprecedented uncertainty in traditional markets, this interest is likely to only grow.

    Source: elexonic.com

    Author: by elexonic


    BitDegree Price Reaches $0.0009 on Exchanges (BDG)


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