According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians. Breakdown of Bitcoin supply. Source: Chainalysis. Digital gold The company concluded that the breakdown of Bitcoin’s supply makes it similar to gold, supporting the asset’s status as digital gold. They clarify, however, that it is the 3.5 million BTC that is actively traded which supports the price: “But this digital gold is supported by an active trading market for those who prefer to buy and sell frequently. The 3.5 million Bitcoin used for trading supplies the market, and, in …
Swiss integrated cryptocurrency exchange Smart Valor has launched trading of four fiat currencies with Bitcoin (BTC) and Ether (ETH). Switzerland sees another crypto first As a blog post issued July 30 confirmed, Smart Valor, which combines exchange with custody and brokerage features, will continue to add new currencies on a monthly basis. The company is headquartered in the town of Zug, home of Switzerland’s Crypto Valley Association, and represents the first integrated exchange provider to launch in the country. “After 18 months of development, we are excited to go live with a core element of the SMART VALOR Platform — …
Trading bots have become a staple of today’s markets — especially in the 24-hour cryptocurrency industry. But while some have gained popularity by enabling enthusiasts to execute their strategies automatically and keep on top of the latest trends, others have caused controversy by manipulating prices using methods that would break the law on regulated exchanges. For everyday crypto consumers, knowing the difference can be crucial. Bad bots are often involved in a practice known as “wash trading,” which sees buy and sell orders being placed simultaneously in order to distort true levels of activity in the market. As reported by …
Major U.S. crypto wallet provider and exchange service Coinbase has refuted “inaccurate” media reports that the platform engages in proprietary trading, in an official statement published Thursday, September 20. According to Coinbase, media coverage has “inaccurately characterized” the results of the New York Virtual Markets Integrity Report, to which Coinbase had voluntarily contributed information about its practices by participating in a Virtual Markets Integrity Initiative Questionnaire. Coinbase yesterday cited the report, with the view to “correct the record”: “The report states: ‘Coinbase disclosed that almost twenty percent of executed volume on its platform was attributable to its own trading.’” However, …
A licensed U.S. crypto asset brokerage dubbed ‘Voyager’ has revealed plans to launch a zero-fee mobile trading app in Q4 this year, according to a press release published on BusinessWire today, July 25. The new platform intends to bring investors a single access point to trade and manage their assets across multiple crypto exchanges, without charging fees or setting minimums for orders. Voyage will use smart order routing (SOR) -- a software popular with banks and brokers in traditional markets that uses algorithms when directing orders across various trading venues in order to optimize the execution of buy/sell orders. Stephen …