Bitcoin (BTC) hitting $10,000 has been frantic activity on exchanges — investors are buying the largest cryptocurrency at five figures, not selling. According to data from monitoring resource Coin Metrics on June 2, one 10-minute period alone saw trading volume hit a giant 3,500 BTC. “Peculiar” BTC price action sparks volume surge As markets climbed to highs of $10,340, exchanges saw a sudden surge of interest, with Bitfinex specifically producing what Coin Metrics described as “very strange” behavior. “#Bitcoin prices on Bitfinex just did something very strange and are now trading at a $40 premium to the rest of the …

Tether (USDT) cites the popularity of its Ethereum (ETH)-based asset as the reason why the company has never burned a single token. The recent report from Flipside Crypto concluded that Tether is not in the practice of burning its Ethereum tokens: “We can also see that no tokens ever go to the “burn” category, which means that throughout the course of April no USDT supply was destroyed. Looking at the full history of USDT on Ethereum, we found that no tokens have ever been burned.” Ethereum is too popular Paolo Ardoino, who serves as CTO for both Tether and Bitfinex, …

A report from Flipside Crypto indicates that no Ethereum (ETH)-based Tether (USDT) tokens have ever been burned. The report has also come to a conclusion that the stablecoin is mostly used by arbitrageurs on centralized exchanges. The Flow of USDT Within A Crypto Ecosystem. Source: Flipside Crypto. Binance, Bitfinex & Huobi The report states that Tether has thus far failed to fulfill its aspiration of providing stability to the DeFi space as postulated by Paolo Ardoino, Bitfinex and Tether’s CTO. Instead, its primary use case, seems to be inter-exchange arbitrage: “It’s pretty clear that most of Tether is used on …

Earlier this week, Tether (USDT) was making headlines for flippening XRP and taking the number three spot for largest cryptocurrency by market cap. Confidence in the leading stablecoin seems to have returned, despite Tether and Bitfinex still being embroiled in two ongoing court proceedings — one of which relates to an $850 million cash loan made by Tether to Bitfinex, secured against Bitfinex stock. Investors didn’t like the fact that their Tether was no longer backed one-to-one with dollars. But with United States banks now allowed to issue loans with zero reserve, were the shares actually a better option? Tether …

For an industry that is supposed to be based upon decentralization, it appears to be getting crowded at the top, with a number of companies transforming into unspoken oligarchs, each wielding huge influence — or at least that’s what some critics argue. One of the most remarkable crypto companies operating today is Binance. In only three short years, Binance has enjoyed a meteoric rise to the top. Criticism of Binance, philosophical or otherwise, can’t fail to take into account the impressive stream of innovation the firm seems to channel. Headed by Changpeng Zhao, the Twitter-happy CEO better known as CZ, …

Data compiled by Glassnode is showing that the number of Bitcoin (BTC) held on top crypto exchanges has steadily fallen since the violent mid-March crash that saw crypto prices tumble by 50% in a single day. The sum of BTC held on exchanges currently sits at a little over 2.3 million — the lowest it has been since May 22, 2019. As such, the percentage of BTC stored on centralized exchanges has dropped from 14.1% to 12.5%. $3B in BTC removed from exchanges since March The number of BTC stored on top crypto exchanges has fallen by approximately 300,000 since …

Bitfinex cryptocurrency exchange has partnered with London-based digital asset custodian Koine to roll out institution-grade custody and post-trade services. On May 13, Bitifinex announced that Koine would be providing the exchange with a series of services that can help professional traders to mitigate the counterparty and settlement risks associated with cryptocurrency trades. Bitfinex, which caters some of its offerings to professional clients by supporting algorithmic and over-the-counter trading, claims the new suite of services will help to encourage institutional participation in crypto markets. Koine’s storage model is neither “hot” nor “cold” Speaking to Cointelegraph, Phil Mochan, founder and head of …

In the cryptocurrency industry, liquidity is king. But how we measure and perceive liquidity varies greatly. Amid uncertain times and volatile market conditions, many traders are revising their trading strategies to consider every facet of their portfolio. This includes how they evaluate the liquidity of an asset or an exchange altogether. While it is evident that trading volume can be easily manipulated, we’ve nonetheless been conditioned to look to it as a way to measure liquidity and — by extension — the health of markets and exchanges. Types of liquidity At its core, liquidity can be divided into three categories: …

The derivatives platform for Bitfinex cryptocurrency exchange is launching a new perpetual swaps product today, May 6, that enables traders to speculate on Bitcoin (BTC) dominance. Dominance, which refers to Bitcoin’s share of the total market capitalization for all cryptocurrencies, is a measure closely eyed by many in the community — whether they be altcoin developers and traders or diehard Bitcoin maximalists. According to data from Coin360, BTC dominance stands at close to 67% as of May 5. Bitfinex Derivatives’ Bitcoin Dominance Perpetual Swap (BTCDOM) is ostensibly the first such contract to launch in the market. The exchange claims it …

The Bitcoin halving is only 6 days away so Cointelegraph has invited CTO at Bitfinex Paolo Ardoino, John Todaro, director of institutional research at Tradeblock, and VP of Poolin mining pool Alejandro De La Torre to hash out what to expect from the much-anticipated event. Cointelegraph Talks: What to Expect from the Bitcoin Halving will begin at 12pm EST and you can follow the live discussion on Youtube and take part by sending in questions.

New analysis of the top 10,000 Ether wallet addresses certainly paints a very bullish picture for Ethereum as it moves towards Proof-of-Stake consensus. However, it also suggests that some highly questionable practices are being employed by certain major cryptocurrency exchanges and Ether (ETH) whale accounts. The Poloniex/Tron axis According to the report’s author, Adam Cochran, when Circle bought Poloniex back in February 2018, it moved assets into better cold wallets and had strong reserves. However, when the exchange was acquired by a group that included Tron’s Justin Sun, it is speculated that some of these cold wallets were drained to …

Catering to the social realm of the digital sphere, crypto exchange, Bitfinex, announced its own social network, which opened today. On the exchange's social network, called Bitfinex Pulse, customers can immerse themselves in the energetic world of trading, collaborating on concepts, and other market related activities, said a statement provided to Cointelegraph. The product looks to give users a leg up against the rest of the crypto trading world as they communicate with their fellow Bitfinex compatriots. Different from other social trading platforms Bitifinex Pulse is not first to the party regarding the social trading aspect of crypto. Other players …