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Bitcoin News - Bitcoin Volumes Down as Price Keeps Falling, Ethereum Classic Up While IOTA and Ripple Suffer Most

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Bitcoin’s volume is dropping quicker than its price which could indicate more tough times ahead as altcoins continue to fluctuate wildly
Bitcoin Volumes Down as Price Keeps Falling, Ethereum Classic Up While IOTA and Ripple Suffer Most

Bitcoin’s continued price fall may not be over as the original cryptocurrency hovers just below the $7,000 mark. The price of the coin has gone down from its recent high of $8,4000, but what is more concerning is the loss of volume.

In the altcoin markets, things are in a much bigger state of flux with a number of coins breaking the mold and going into the green, such as Ethereum Classic, but there are a number of bigger coins feeling big losses over the last 24 hours, including IOTA and Ripple.

Leaking volume

With this latest fall, many are hoping that a bullish sentiment will take over again and an upward correction will take place, however, a deeper look into the volume of transactions seems to indicate that won’t be happening soon.

In the past 24 hours, the volume of Bitcoin has not improved, in fact, it has been in decline sitting in at the $3.8 bln. This indicates that the overall demand for Bitcoin is down and it will no doubt affect the price further.

The volume needs to pick up in order for the price to pick up due to simple supply and demand, and if it does not, there is a chance that Bitcoin could head towards $6,000.

Bad news for IOTA and Ripple

While Bitcoin’s price continues to dip, although only a part of a percentage over the last 24 hours, other major coins have taken big hits. Ripple is down as much as five percent after seeing some growth in its presence after announcing partnerships with Bill Clinton and a nod towards Madonna’s charity.

Ripple is down five percent over the last 24 hours having plunged from $0.44 to $0.40 since the weekend. However, it is IOTA that is the biggest loser of the day, dropping a whopping 13 percent in a steep fall.

On the green side of things

Elsewhere, there is positive movements for coins such as Ethereum Classic which is up seven percent in the last 24 hours have shown steady growth since Friday. Ethereum Classic has gone from $14 to $20 in under five days ever since the announcement it would be appearing on Coinbase.

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Bitcoin News - BitMart Exchange Teams Up with Paxful to Give Its Customers More Benefits

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Crypto trading firm BitMart spreads word about its new partnership with P2P exchange Paxful, both firms intend to gain more scalability and liquidity
BitMart Exchange Teams Up with Paxful to Give Its Customers More Benefits

BitMart has publicized its integration of Paxful’s Bitcoin trading service. This will enable clients of BitMart to get more payment features. Also, customers of Paxful will be able to use BitMart and trade its almost 200 crypto pairs.

Benefits of this collaboration

The reps of the firms state that this cooperation will allow improving customer experience by giving users more trading opportunities.

BitMart founder and CEO Sheldon Xia has mentioned that partnering with Paxful will enable the exchange to attract new customers who previously had no access to crypto trading.

BitMart started off two years ago. This crypto exchange is located in the Cayman Islands, but it operates branches in the US, South Korea, etc. The platform officially has nearly 700,000 clients, and its trading volume exceeds $70 mln per day.

The CEO also added that working on one team with Paxful will let users have a better choice of payment options – gift cards, bank transfers, etc.

About Paxful

Paxful is a decentralized marketplace where one trader can buy BTC directly from another. Users there add their adverts about selling BTC and mention the way they wish to be paid.

As soon as the buyer conducts a payment, he or she receives their Bitcoin from escrow directly into their Paxful storage space. Those who purchase pay no fees to the platform. It takes 1 percent of each deal from sellers.

The company reports it has one million active users from around the world on a daily basis.

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Bitcoin News - Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

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Coinbase claims that this addition is an important step towards creating the leading cryptocurrency wallet on the market
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

Coinbase Wallet now allows its users to directly store Litecoin (LTC) in the app. Thus, the fifth biggest asset by market capitalization joins Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ethereum Classic (ETH) on the list of supported cryptocurrencies.
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

The rollout is coming in a few weeks

The blog post states that Coinbase Wallet users will be able to download an update with Litecoin support in a few weeks on the App Store or Google Play Store respectively. Litecoin support will be available from the get-go once the app is updated. You will simply have to choose the ‘Receive’ option on the main wallet page in order to deposit LTC to your wallet.

Coinbase keeps snubbing XRP

The announcement was flooded with tweets from users asking Coinbase to add XRP. Everyone’s favorite remittance and settlement token is nowhere to be found on the roster of supported digital coins.

However, XRP was added to Coinbase Custody in November 2018, so one shouldn’t exclude the possibility that the crypto behemoth will eventually fully embrace this asset.  

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Bitcoin News - Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

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Coinbase CEO Brian Armstrong has left comments on Twitter saying he reckons QuadrigaCX did not plan an exit scam
Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

On Thursday, Brian Armstrong, the head of the US-based crypto exchange Coinbase, contributed to the numerous discussions that have been centered on the subject of the recent QuadrigaCX collapse.

In several tweets, Armstrong expressed an assumption that the exchange had planned no fraud, despite the current turmoil around the $190 mln that it owes customers and has not been paid out yet.

Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

Customers of the no longer operational QuadrigaCX are now having heated battles, using their lawyers in an attempt to recover the funds the exchange owes them.

Why their funds have disappeared is still a big question. The head of the company, Gerald Cotton, passed away at the end of 2018. The CEO was the only person to have access to the laptop which managed the cold wallets. He never mentioned the location of the private keys in the will made two weeks before his death.

Besides, the investigation undertaken by the community found out that allegedly none of those cold wallets actually existed. This also being discussed in court at the moment – the information shared by Quadriga reps does not match the investigation results.

Coinbase looks into the matter too

Armstrong and his team conducted their own research on the subject. As a result, an assumption emerged that several months of Quadriga’s work raised questions about mismanagement.

Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

Presently, auditor Ernst & Young is in charge of the wallets and accounts of the defunct crypto platform. The other day, QuadrigaCX sent the crypto that was remaining on its wallets to the accounts of the company.

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Bitcoin News - CME BTC Futures Breaking Their Previous Records as 2019 Begins

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In its internal email, CME Group announces that this year their BTC futures are beating all previous sales records even before the start
CME BTC Futures Breaking Their Previous Records as 2019 Begins

 

CME Group, the Chicago-located exchange, has recorded a splash of interest from investors who are buying BTC derivatives at the start of 2019.

Good start of the year for CME

The company’s internal e-mail says that on February 19, the company made a new record by selling 18,338 futures contracts on BTC. That is equal to nearly 91,700 BTC or $360 mln.

In November 2018, the record set by the exchange was a little smaller, says the email:

“Q1 2019 is off to a strong start, ADV has improved to 4,630 contracts (23,150 equivalent bitcoin), up ~13% from Q4 2018 while [open interest] rose to 4,076 contracts, an improvement of 21.5% over Q4 2018.”

As for the customers, since the moment the exchange started working, it has had more than 2,000 accounts for trading BTC futures, belonging to 30 unique institutional clients. By the way, this category of clients has become more interested in the product.

Since November last year, CME has gotten over 40 new clients of this scale. They are also dubbed LOIHs (Large Open Interest Holders), that is, an institution that owns 25 futures on Bitcoin.

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The BTC derivatives market

The BTC derivatives market is much wider than just CME. Since the time it first launched this product, other players have entered the business too. Among them are major exchanges, like OKEx, BitMEX, etc – these are the biggest players on the market at the moment.

Now this market includes not only futures but also crypto options and swaps, and the amount of players in the market keeps increasing.

Other crypto trading heavyweights intend to release their crypto derivatives exchanges in the US in 2019. Among them are Bakkt, SeedCX, and ErisX.

Bakkt plans to offer BTC derivatives, and SeedCX as well as ErisX will offer futures on several coins. Among those will probably be Bitcoin and Ethereum.

Binance reportedly is also considering a move to the crypto derivatives market.

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Bitcoin News - “Faketoshi” Tool by Albacore Labs Enables Anyone to Play Satoshi Nakamoto

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Due to the numerous self-proclaiming Satoshi Nakamotos appearing recently, a financial startup created an app that lets anyone become the real Bitcoin inventor
“Faketoshi” Tool by Albacore Labs Enables Anyone to Play Satoshi Nakamoto

From now on, anyone with some basic programming skills can issue proof that he is the genuine Bitcoin creator – startup Albacore Labs has made an app tool which lets one validate a signature by the genesis block, the first ever block mined on the Bitcoin chain.

“Faketoshi” Tool by Albacore Labs Enables Anyone to Play Satoshi Nakamoto

Oh yes, I'm the great pretender (ooh ooh)

Numerous Satoshi Nakamoto pretenders have emerged and disappeared over the last few years. The most prominent of them is perhaps Craig Wright, the public figure leading Bitcoin SV (Satoshi Vision) after the hard fork of Bitcoin Cash in November last year.

The other day, Mr. Wright brought up definitive evidence of him being the real Satoshi when he offered to swear an oath to the US Commodity Futures Trading Commission. This generous offer was taken by the community skeptically.

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Faketoshi line production

Recently, the team of the Albacore startup, which works in the business of improving financial transparency, has launched an app that allows anyone to link a message to the BTC genesis block. This way anyone who desires so can ‘prove’ they are the Satoshi Nakamoto.

The reps of the firm have publicly commented on their new product, saying that with the growing number of people trying to prove they are the Bitcoin maker, they have decided to help them with that.

“With everyone seemingly trying to prove they are Satoshi (looking at you Craig Wright and “Faketoshi twitter”), we’ve decided to make it easier for other people to make similar claims.”

This story goes back to 2016 when reporter Andrew O’Hagan spent several months together with Craig Wright, watching him tie a message to Satoshi Nakamoto’s address.

Now, using the new app, it is possible to create a signature and a message hash that will be validated against the address that created the BTC genesis block.

Faketoshi line production

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