Bitcoin (BTC) saw a “flippening” during its price crash to $3,700 last month — something that could reveal a new uncomfortable truth about exchanges. In its March Exchange Review released this week, monitoring resource CryptoCompare highlighted liquidity as a key metric which changed during last month’s extreme volatility. CryptoCompare: Bitfinex hit 40% of exchange volume On March 12, as Bitcoin prices collapsed in a matter of hours, it was notably one platform in particular which provided more volume, and hence liquidity, for traders. “Despite Binance and OKEx trading the most volume across all markets in broad terms, during the exact …

The research arm of cryptocurrency exchange, BitMEX, shed some light on who is funding the development of the open source software behind Bitcoin (BTC). According to a BitMEX Research report published on March 28, blockchain firms Blockstream and Lightning Labs are the largest contributors to Bitcoin development. On the other hand, Bitcoin research firm, Chaincode Labs, is the largest financial supporter of Bitcoin Core software development. The researchers note: “We conclude that the situation is more healthy than it has been in the past, with respect to the availability of finance, transparency, and the degree of distribution among financial backers.” …

With the firm recovery of the Dow Jones Industrial Average and Bitcoin defending the $6,400 support level with strength, crypto traders anticipated the Bitcoin price to rebound to at least the mid-$7,500 area in the short term. In the past 48 hours, however, they have started to lean toward a resumption of a bearish trend for Bitcoin, as the relief rally of the dominant cryptocurrency is seemingly coming to an end. Much data from the imbalanced buy and sell orders on major exchanges like BitMEX and the decline in the total open interest of Bitcoin futures point toward lacking demand …

Bitcoin (BTC) derivatives exchange BitMEX has fallen to third place in 24-hour trading volume for Bitcoin futures. Data from Skew analytics on March 23 reveals that the derivatives giant, founded by Arthur Hayes, is reporting $2.45 billion in 24-hour futures volume, as against Binance’s $2.48 billion and OKex’s $3.08 over the same time frame. 24-hour trading volumes for Bitcoin futures contracts on major exchanges. Source: skew.com Mid-term trends Earlier this month, aggregated open interest in BitMEX’s futures contract took a steep plunge from $1.2 billion on March 12 to $745 million the following day, and down to $607 million on …

Bitcoin (BTC) derivatives exchange BitMEX continues to field criticism after attempting to explain a mass liquidation event during which BTC/USD crashed 60%. In a blog post on March 23, BitMEX addressed what it says were “a number of questions” from traders since the event occurred eleven days ago. BitMEX: insurance fund functioned as normal At the time, BitMEX appeared to suffer from what various sources have called a cascading margin call, forcing out traders and sustaining the price of Bitcoin plummeting in the process. The exchange then went offline for around half an hour, after which the price recovered. After …

A March 18th post by BitMEX Research discusses the two approaches governments can take with regards to the issuance of a Central Bank Digital Currency (CBDC) and the ramifications for the economy. Money supply In the modern economy, the money supply is largely determined by the banks’ ability and/or willingness to make loans. “From a liquidity perspective, the largest deposit-taking institutions in an economy have an almost unconstrained capability to create new loans, since the funds loaned out will automatically get placed back into their own bank as a deposit.” The only exception to this rule is “physical cash” since …

BitMEX, the world’s second largest crypto exchange by daily trading volume as of press time, believes that amid the ongoing global coronavirus crash, Bitcoin faces its biggest challenge and the opportunity to prove its potential during the global financial crisis. The 2020 coronavirus financial crash could be the biggest opportunity Bitcoin has ever seen On March 17, BitMEX’s research arm, BitMEX Research, published an analysis of the ongoing impact of COVID-19 pandemic on the financial markets. Titled “Inflation Is Coming,” the blog post by BitMEX Research outlines the coronavirus financial market crash as the biggest economic turmoil since the 2008 …

The meltdown at derivatives giant BitMEX, during which Bitcoin (BTC) fell to $3,600, has seen the company payout compensation worth a modest $200,000. In a blog post about the event, which occurred on March 13, BitMEX blamed “two DDoS attacks” for crashing its platform. Ethereum traders see 40 BTC refunded Coming at a time of intense volatility across Bitcoin markets, a botnet managed to consume hardware resources, ultimately causing BitMEX to fail altogether and go offline for around half an hour. As a result, many users claimed that they had lost funds via liquidations that should not have occurred. BTC/USD, …

On March 13, trading giant BitMEX was thrust into the middle of a controversy that saw the premier exchange face an operational outage that lasted for about 25 minutes. During the downtime, rumors spread throughout the cryptoverse that some foul play had been going on behind the scenes, especially since Bitcoin’s (BTC) price fell to around the $3,700 mark. Related: Crypto Traders Explain What Caused the Bitcoin Price Plunge to $3,000s To help allay some of the suspicions that arose due to the aforementioned outage, BitMEX’s PR team issued a tweet that read that the company “became aware of a …

The March 13 crypto market meltdown ravaged cryptocurrency companies across the industry, sparking a MakerDAO debt crisis and causing millions to be deployed from the insurance funds of exchanges Binance and Deribit. In spite of the widespread carnage, the insurance fund of leading derivatives exchange, BitMex, only took two days to break back into new all-time highs. BitMex insurance fund posts new all-time high Despite going offline for 45 minutes due to a “hardware issue” late March 13, BitMex appears to have emerged from the recent cryptocurrency market massacre stronger than ever. The crash saw BitMex only deployed 1,627 to …

The Bitcoin (BTC) price dropped to $3,600 overnight, marking Bitcoin’s biggest daily drop in the last seven years. Over $1 billion worth of longs was liquidated on March 12, causing one of the most intense long squeezes in the crypto market’s recent history. The main catalyst of the sudden 50% decline in the price of Bitcoin within a span of eight hours was the 9.99% drop of the Dow Jones Industrial Average. The United States stock market experienced its worst sell-off since 1987, as panic over the coronavirus pandemic intensified to unprecedented levels. In the past seven days, Bitcoin and …

Trading giant BitMEX is at the center of attention after unexpected downtime sparked rumors of foul play as Bitcoin (BTC) fell as low as $3,700. According to a tweet from the company, problems arose during frenzied trading activity on the evening of March 12. BitMEX “hardware issue” sparks delays As a result, BitMEX was offline for around 25 minutes, managing to address the issue by 3 am UTC. The tweet stated: “Between 02:16 and 02:40 UTC 13 March 2020 we became aware of a hardware issue with our cloud service provider causing BitMEX requests to be delayed.” The exchange saw …