Changpeng Zhao, the chief executive of Binance, the world’s largest crypto exchange by trade volume, reported a record of $80 billion in 24-hour trade activity on Jan. 4. On Twitter, CZ compared the recent activity to the volume posted during the last record-breaking bull cycle, noting that the past day of trade equates to four-time the volume processed on the exchange from Nov. 15, 2017 to Dec. 15, 2017. To put this in perspective, from Nov 15, 2017 to Dec 15, 2017, the month leading up to the ATH in 2017, @Binance did $20 billion in trading volume in 1 …

Bitcoin (BTC) crashing to $27,700 and rebounding seconds later was a shock for some and financial ruin for others, data shows. According to on-chain analytics resource Glassnode, futures traders with long positions lost a total of $190 million on Binance alone in a single hour — the most in history. One exchange, 60 minutes, $190 million The figures underscore the current face of Bitcoin as it circles new all-time highs and together with Ether (ETH) becomes the hottest ticket of 2021. Longs had seen almost unbridled success throughout much of December 2020 and into the new year, with upside seeing …

Catherine Coley, CEO of major crypto exchange Binance’s U.S. arm, sees the current Bitcoin bull run as a sign the crypto asset could reach a price up to $100,000. Speaking to news outlet KLTA yesterday, Coley said the recent rally in the price of Bitcoin (BTC) — moving from $19,000 to more than $34,000 in less than a month — may be due to a surge in the number of institutional investors taking an interest in the crypto asset. She added that the crypto space could be seeing an "accelerated" rally based on what happened prior to the 2017 bull …

Binance.US, the American branch of the global crypto exchange, and crypto-friendly asset trading service eToro are the latest platforms to suspend XRP trading in the United States. Announcing the news on Thursday, eToro revealed that U.S. customers will not be able to trade XRP starting Jan. 3, 2021. Customers with existing trades at the time will have three weeks from that date to close all open positions, the platform added in its statement. For Binance.US, the effective date of its XRP delisting is Jan. 13, 2021. However, the delisting will not affect the claim process for Flare's Spark (FLR) token …

Peer-to-peer coverage market Cover Protocol has published a compensation plan for tokenholders and liquidity providers affected by the recent hack. As part of the process, the Cover Protocol team took a snapshot at block height 11,541,218, the last transaction block before the exploit began. Eligible liquidity providers on Uniswap, SushiSwap and Balancer will receive new COVER tokens based on their share of the liquidity pool on those platforms. Liquidity providers on the first two platforms will also receive a share of the Ether (ETH) returned by "white hat" exploiters like Grap.Finance. The compensation plan also revealed that tokenholders will receive …

When the history books are written about cryptocurrency, 2020 will be remembered as the year decentralized finance exploded in popularity. A powerful illustration of how this young, often misunderstood space has grown comes from DeFi Pulse. At the start of January, the total value locked in DeFi protocols stood at $675 million. Since then, records have continued to be smashed — and at one point in December, this figure hit a staggering $15 billion. That’s a surge of 2,100% in less than 12 months. Even though there have been signs of a bubble, crypto heavyweights such as Binance CEO Changpeng …

Crypto exchange giant Binance is set to expand its cryptocurrency trading catalog with the launch of a European-style Bitcoin (BTC) options contract. Announced on Dec. 28, the launch follows a successful testnet trial carried out back in November. The press statement also revealed that the new options contract will be priced and settled in Tether (USDT). As part of the announcement, Binance identified the growing appetite for BTC options as the reason for debuting the new product. Earlier in December, Bitcoin options crossed $1 billion for the first time with total open interest almost reaching the $6 billion mark. Commenting …

Binance, one of the world’s largest cryptocurrency exchange by volume, has incorporated Segregated Witness, or SegWit, support for Bitcoin (BTC) deposits. The SegWit support was extended to deposits on Christmas Eve, Binance said in an official statement. The protocol upgrade was initially enabled only for withdrawals. Effective immediately, Binance users can transfer funds to a SegWit (bech32) address by selecting the BTC (SegWit) network. Binance explained: “Please note SegWit should help reduce fees; however, if you incorrectly send incompatible assets to the address, your funds will not be recoverable and will result in permanent loss.” Implemented in 2017, SegWit is …

Binance KR has decided to shutter its operations in South Korea according to an announcement released on Thursday. As part of the press statement, Binance KR attributed the move to declining liquidity and low trading volume of its BKRW trading pairs. BKRW is a stablecoin pegged 1:1 to the Korean Won used for crypto-to-crypto settlements on the platform. According to the details provided by Binance KR, the shutdown timeline will begin with ceasing all new account registrations on Thursday. The halting of trading services is scheduled for Jan. 10, 2021, with a hard shutdown on the platform and delisting of …

A privately held exchange has launched on the Binance Cloud platform for the first time. Mandala says its goal is to deliver enhanced trading depth, security and transaction speeds to users — enabling them to trade cryptocurrency with confidence. This is coupled with a “unique focus on compliance” that will bring cryptocurrencies to the masses, with an ecosystem tailored to passionate beginners and institutional investors alike. In explaining why launching on the Binance Cloud was so significant, Mandala’s chief technology officer Zach Daniels said: “Binance allows us to take advantage of not only their liquidity and technology, but their development …

Binance, the world’s largest cryptocurrency exchange by trading volume, is listing another batch of fan tokens by a major sports-focused token platform, Chiliz. According to a Dec. 23 announcement, Binance Launchpool — a platform allowing users to stake tokens for up to 30 days to earn rewards — will soon feature three more sports fan tokens: Dota 2 esports team OG, Atlético de Madrid Football (ATM), and AS Roma Football Club (ASR). As part of the new allocations, Binance users will be able to stake Binance Coin (BNB), Binance Dollar (BUSD), and Chiliz (CHZ) against OG, ATM and ASR fan …

The Bitcoin (BTC) futures funding rate on Binance Futures overtook Deribit on Dec.18, according to data from CryptoQuant. Historically, when this happened, the dominant cryptocurrency saw a local top or consolidation. The funding rate of major cryptocurrencies, including Bitcoin and Ether (ETH), rose considerably in the past 48 hours. This typically indicates that the futures market is overheating, which raises the probability of a pullback. What comes next for Bitcoin? Bitcoin has already seen a relatively mino pullback and some consolidation after its recent rally. Within two days, from Dec. 16 to 17, the price of Bitcoin rose from $19,300 …