Exchange

Bitnomial Exchange Self-Certifies XRP Futures Contract with CFTC

Thursday. August 15 at 6:30 AM

1 min. read

Bitnomial Exchange, LLC, recently self-certified a new futures contract for XRP with the Commodity Futures Trading Commission (CFTC) on August 9. The XRP US Dollar Futures contracts, known as XUS, were set to commence trading on August 13, 2024. Despite the scheduled launch, the official website did not display any XRP Futures at the time of publication. This certification could potentially lead to the approval of a spot ETF in the United States. The XUS contract is a physically settled futures contract involving 100,000 units of XRP. Bitnomial emphasized compliance with CFTC regulations, focusing on areas such as market manipulation, trading practices, market disruptions, and financial integrity. Market participants and clearing members have shown support for the XRP US Dollar Futures contracts, signaling a positive response within the community. The move by Bitnomial could influence the SEC's stance on spot ETFs, potentially paving the way for future approvals.

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Analysis of Token Performance Across Exchanges

Thursday. September 12 at 4:00 PM

A recent study by Simplicity Group Research has revealed that Bybit emerges as the top competitor for Day 1 price surges among various cryptocurrency exchanges. While Bybit's Day 1 performance offers lucrative opportunities for short-term traders, the report cautions about the subsequent volatility. Bybit recorded the highest Day 1 average token listing price surge of 2738%, surpassing competitors like Binance and Coinbase. However, the study also indicates a significant drop in Bybit's token price after the initial surge. The analysis emphasizes the impact of liquidity on early price fluctuations but suggests that it becomes less relevant after the second day. The data underscores the unpredictable nature of exchange performance, challenging the notion that major exchanges always lead to substantial price increases post-token listing. Overall, the study sheds light on the complex dynamics of token performance across exchanges.

Exchange

Tokocrypto Receives Full License in Indonesia

Tuesday. September 10 at 7:00 AM

Indonesian exchange Tokocrypto has obtained a complete license from the country's Commodity Futures Trading Regulatory Agency, also known as 'Bappebti.' On Sept. 9, Tokocrypto announced that it had been granted the Physical Crypto Asset Trader (PFAK) license by Bappebti. This license authorizes the company to function as a physical crypto asset trader and ensures compliance with the nation's trading regulations. Previously, exchanges in Indonesia operated under a 'prospective crypto exchange' classification, but in 2019, Tokocrypto was registered as a Prospective Physical Crypto Asset Trader (CPFAK). The company's CEO, Yudhono Rawis, stated that Tokocrypto is the third exchange to receive this license in Indonesia, with 35 prospective crypto exchanges still registered with the futures regulator. Tokocrypto aims to solidify its position as the leading trading platform in Indonesia by obtaining this license, as evidenced by its market share dominance in 2023 according to CoinGecko data.

Exchange

CoinEx: Navigating the Crypto Market

Thursday. September 5 at 1:00 AM

As the cryptocurrency market matures, exchanges play a crucial role in trading and liquidity amidst regulatory and technological changes. CoinEx, established in 2017, has distinguished itself by prioritizing user-centric innovation and building a robust ecosystem. With over ten million users globally, CoinEx focuses on long-termism, emphasizing sustainable growth and user satisfaction. The exchange's competitive edge lies in its experienced team, technological innovation, and commitment to enhancing user experience. CoinEx's platform token, CET, incentivizes users and enhances engagement within the ecosystem. The exchange's future strategy revolves around technological advancements, user-focused services, and expanding its ecosystem. CoinEx's CEO, Haipo Yang, emphasizes the importance of values, long-term planning, and user feedback in driving the exchange's success. Despite market challenges, CoinEx remains optimistic about the crypto market's growth, driven by technological advancements and institutional investments.

Exchange

Bitwise Expands into European Markets through Acquisition of ETC Group

Tuesday. August 20 at 1:30 PM

Bitwise, a San Francisco-based asset manager, has made its entry into the European markets by acquiring the crypto investment firm ETC Group. The financial terms of the deal remain undisclosed. ETC Group, headquartered in London, manages over $1 billion in assets, offering a variety of crypto exchange-traded products (ETPs) such as Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and MSCI Digital Assets Select 20 (DA20). With this acquisition, Bitwise now oversees nine European-listed crypto ETPs, boosting its total assets under management to over $4.5 billion. Bitwise CEO Hunter Horsley expressed excitement about serving European investors and expanding their product range with innovative ETPs. ETC Group, known for launching crypto ETPs since 2020, also introduced a blockchain equity exchange-traded fund (ETF) in Europe. Bitwise, a key player in the US Bitcoin ETF market, recently received approval for its Bitwise Bitcoin ETF (BITB) and Bitwise Ethereum ETF (ETHW), accumulating significant assets in both funds. The growth of crypto ETP adoption is anticipated, driven by institutional interest and evolving regulatory frameworks.

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