Centralized exchanges are the primary gateways for traders to buy and sell crypto. Despite the significant rise in popularity and usage of decentralized exchanges (DEXs) in the past year, CEXs still facilitate most crypto trades. As such, they provide the foundational infrastructure for market liquidity and price discovery. Understanding their health and performance is important […]
The post Despite heavy outflows, CEXs continue to be pillars of liquidity appeared first on CryptoSlate.
Sluggish U.S. retail sales and softer inflation reports have opened the way for the next leg up in the crypto rally, Swissblock said.
The latest price moves in bitcoin (BTC) and crypto markets in context for May 6, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitfinex Chief Technology Officer Paolo Ardoino has debunked rumors that the crypto exchange suffered a database exploit recently. Over the weekend, several reports suggested a potential database leak comprising 22,500 records of emails and passwords allegedly from Bitfinex users. However, Ardoino opined that the purported breach was likely fake, stating that only a small percentage […]
The post Bitfinex CTO dismisses rumors of major database breach, suggests misinformation by hackers appeared first on CryptoSlate.
In the midst of the dramatic changes that have occurred in the cryptocurrency space after the Bitcoin halving event, Bitfinex provides a perceptive analysis that reassures investors that the market dynamics of BTC have remained positive in the post-halving period. Bitfinex examines the on-chain data and finds encouraging signs for Bitcoin in spite of the United States economy’s current state of uncertainty in its most recent Alpha report, which was released on April 22. Bitcoin Market Dynamics Remains Bullish According to the Hong Kong-based crypto platform, exchange withdrawals of Bitcoin are currently at levels not seen since January 2023. This simply indicates that a lot of investors are putting their assets in cold storage in expectation of price rises. Related Reading: Bitcoin Halving: Anticipating Price Impact, Miner Challenges, And Long-Term Outlook Also, the exchange noted that long-term investors’ aggressive selling has not yet caused the usual pre-halving price decline, which suggests that new market participants are absorbing the selling pressure quite well, highlighting the tenacity of the present market structure of Bitcoin. The Bitfinex Alpha report revealed that the average daily net inflow from spot Bitcoin Exchange-Traded Funds (ETFs) is $150 million. Given the ETFs’ inflows far exceeding the $30 and $40 million daily issuance rate of BTC following the halving, this significant supply and demand imbalance could encourage further price appreciation. Bitfinex further claims the massive purchases of spot Bitcoin ETFs, which have dominated the entire year’s market narrative, may decline. However, recent ETF outflows have shown that ETF demand may be starting to stabilize. It is important to note that the recently concluded Halving cut down miners’ reward from 6.25 BTC to 3.125 BTC. As a result, miners are now modifying their operating tactics in order to sustain their activities against the decline in reward following the Halving. Thus, the amount of Bitcoin that miners are sending to exchanges has significantly decreased, which may indicate that they are selling ahead of time or collateralizing their holdings to upgrade infrastructure. Consequently, this could possibly lead to a gradual increase in selling pressure rather than a sudden drop in value at the Halving. New BTC Whales Surpassed Old Whales Since the conclusion of the fourth Halving, on-chain data shows a significant rise in new Bitcoin whales. CryptoQuant Chief Executive Officer (CEO) Ki Young Ju, reported the development, noting that the initial investment made by the new whales in Bitcoin is nearly twice that of the old whales combined. Related Reading: Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving According to the data, the total holding by these new whales, which are short-term holders, is valued at $110.6 billion. Meanwhile, the old whales, which are long-term holders, own a whopping $67 billion worth of BTC. This change in whale demographics may impact Bitcoin’s future course and the dynamics of the cryptocurrency landscape as a whole. Featured image from iStock, chart from Tradingview.com
The new BTC supply added to the market could drop to $30 million per day, according to Bitfinex.
Bitfinex Securities earlier today unveiled plans to launch a tokenized debt issue to fund the construction of a “Hampton by Hilton hotel complex at El Salvador International Airport.” The issuance seeks to raise a substantial $6.25 million to facilitate the development of this 4,484-square-meter project. Bitfinex Ventures Into El Salvador’s Tourism Sector Bitfinex Securities El Salvador […]
Bitfinex Securities is issuing a tokenized debt offering to fund the construction of a new Hampton by Hilton hotel at El Salvador International Airport, according to an April 11 statement shared with CryptoSlate. The tokenized debt offering is the first of its kind in the Central American country, seeking to raise $6.25 million. The short-term […]
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Over a year after alleging fraud and money laundering associated with Tether-Bitfinex, the Journal has now removed any mention of Christopher Harborne and his business from the article.
A startling number of Bitcoin margin longs recently opened at Bitfinex, but their muted impact on BTC price raises suspicion.
According to Bitfinex chief technology officer Paolo Ardoino, an attacker attempted to make use of XRP’s partial payments feature to exploit his crypto exchange but failed.
Bitcoin remained steady around $41,000 after Monday's dramatic flush.