Naspers-Backed Crypto Luno Acquired by Digital Currency Group

Naspers-Backed Crypto Luno Acquired by Digital Currency Group

Naspers Ltd.-backed cryptocurrency exchange Luno has been acquired by New York-based digital asset investment firm Digital Currency Group, according to a company release seen by Bloomberg.

Luno, based in London with hubs in Singapore and Cape Town, has almost 400 employees and more than five million customers, according to the report. The firm is also backed by technology investor Naspers, as well as others including Balderton Capital UK LLP, Rand Merchant Investment Holdings Ltd. and Venturra Capital, according to Luno’s website.

Luno will continue to be led by CEO Marcus Swanepoel, the release said.

The acquisition comes amid a recent downturn in the price of Bitcoin from around the $12,000 level. The digital coin has dropped 17% from its most recent mid-August peak and was trading at $10,181 at 11:05 a.m. in London.

Source: www.bloomberg.com

Author: By
Eric Lam


The Number of Bitcoin “Wholecoiners” Just Hit a Fresh All-Time High

The Number of Bitcoin “Wholecoiners” Just Hit a Fresh All-Time High

Bitcoin investors have been accumulating the digital asset at a rapid pace throughout the past several days and weeks, with the cryptocurrency seeing massive inflows of capital in August while its price remained somewhat stagnant between $11,000 and $12,000.

This trend is elucidated by the massive upticks in exchange volume seen throughout the month, pointing to the injection of new capital and new investors into the market.

It is important to note that data regarding the number of addresses holding over 1 BTC shows that investors have been accumulating to join the “wholecoiner” club over the past few months.

This is a positive development for the market, as it indicates that retail investors have been accumulating the benchmark cryptocurrency at a rapid pace.

This may help the market form a strong base to grow upon in the months and years ahead.

NewsBTC reported earlier this week that cryptocurrency exchanges have been seeing massive inflows of trading volume throughout the past month, showing that the recent strength seen by the nascent market is attracting capital.

Trading volume on top-tier exchanges increased by 58.3% in August, now sitting at $529 billion.

As cited in the report, one research group explained that top-tier exchanges now represent 64% of the market’s total volume.

“In August, Top-Tier volumes increased 58.3% to $529bn while Lower-Tier volumes increased 30.2% to $291bn. Top-Tier exchanges now represent 64% of total volume (vs 60% in July).”

The same research group also found that volumes on the CME amongst institutional traders rose in tandem with that seen by exchanges.

The growing volume seen by exchanges comes as data points to an accumulation pattern amongst retail traders, with this being further accentuated by the rise in the number of wallet addresses holding one entire Bitcoin.

This data, which analytics firm Glassnode spoke about in a recent tweet, shows that individual investors have been increasing their exposure to BTC throughout the past few weeks and months.

“Unfazed by BTC’s price swings, the number of network addresses holding at least 1 BTC has shown a continuous growth over the years. The number of ‘wholecoiner’ addresses hit another ATH yesterday, closing the day above 823k for the first time.”

Bitcoin

Image Courtesy of Glassnode.

If this trend persists in the near-term, it could forge a strong base for Bitcoin and the aggregated crypto market to rise upon.

Featured image from Unsplash.

Source: cryptomoneyteam.co

Author: By TeamMMG


Crypto Exchange Kraken Returns to Japan After Two-Year Hiatus

Crypto Exchange Kraken Returns to Japan After Two-Year Hiatus

Cryptocurrency exchange Kraken will operate in Japan for the first time in two years.

The company said Tuesday its Japanese subsidiary, Payward Asia Ltd., completed the regulatory registration process and has been granted a permit to operate as a crypto asset exchange business in the country. 

  • According to the announcement posted on Kraken’s website, the firm plans to start offering its services in the middle of September, with more details to come.
  • Kraken exited the Japanese market in April 2018 when regulators stepped up oversight of the cryptocurrency sector after a Tokyo-based exchange, Coincheck, lost more than $530 million worth of assets after a hack.
  • According to Kraken’s announcement, Payward Asia’s new platform will initially only handle trades in five coins: bitcoin, ethereum, XRP, bitcoin cash and litecoin. 
  • Customers who used Kraken’s services through Payward Japan before April 2018 will need to open a new account under the new procedure, Kraken said, because the firm does not plan to offer an account-transfer option. 
  • Crypto Exchange Kraken Returns to Japan After Two-Year Hiatus
  • Crypto Exchange Kraken Returns to Japan After Two-Year Hiatus
  • Crypto Exchange Kraken Returns to Japan After Two-Year Hiatus
  • Crypto Exchange Kraken Returns to Japan After Two-Year Hiatus

Source: finance.yahoo.com

Author: Jaspreet Kalra


Kapil Rathi: DeFi’s Good, Bad and Ugly

Kapil Rathi: DeFi’s Good, Bad and Ugly

not sure I’m ready to commence celebrating high volumes in these food coins.

Disclosure

Source: www.cryptonixs.com

Author: Published 2 days ago on September 9, 2020

By Cryptonix


Naspers-Backed Crypto Luno Acquired by Digital Currency Group


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