High trading volumes in the bull market have also helped bolster the platform and its financial performance. The exchange last week posted a 639.2% increase in operating profits compared to Quarter 2 of FY2023 Q2. Bithumb’s sales also increased 193.6% to the $180 million mark.
However, the broader market saw mixed results, with notable outflows in certain regions, such as Switzerland and Hong Kong, where outflows reached $30 million and $14 million, respectively. Ethereum, the second-largest cryptocurrency, recorded $4.2 million in inflows. However, this seemingly modest figure for Ethereum conceals significant underlying activity. New providers of Ethereum investment products saw...
Volk explained that the group operated five “call centers” in Minsk. Officers raided these addresses, seizing “computer equipment, mobile devices, accounting documentation, and access to cloud storage.” She added that one of the alleged masterminds and “two of his accomplices” were detained in the Moscow region. During a raid on the suspected mastermind’s residence and...
On August 21, leading stablecoin issuer Tether announced the launch of a stablecoin pegged to the United Arab Emirates dirham (AED). This move is part of a strategic partnership with two prominent UAE-based companies, Phoenix Group PLC and Green Acorn Investments Ltd. Tether Aims to Streamline Cross-Border Transactions and Remittances in UAE According to the...
The process, however, is not yet complete. Repayments to the remaining creditors are pending and will proceed once several conditions are met. These include corrections of information and actions required by the creditors, validation of registered accounts, acceptance of the Agency Receipt Agreement by the involved exchanges, and the successful completion of discussions between the...
Crypto Is Volatile, Regulator Warns Fernández added that while “cryptocurrencies have gained popularity globally,” they “do not meet the requirements to be considered legal tender in the Dominican Republic.” He went on to note that crypto displays signs of “extreme volatility.” He added that tokens represent “dangers” to investors because of their “speculative” and “unregulated”...
Reports have circulated this month, claiming that Kookmin (KB) Bank has convinced Bithumb to dump a long-standing partnership with rival NongHyup in favor of a KB deal. Experts say KB wants to court younger customers, and thinks partnering with Bithumb will help it win new clients aged 20-39.
What the researchers found is that, two days after the hack, the median native token price saw a 10% drop. More precisely, 34% of the affected tokens fell 10%, 11.4% fell over 50%, and 5.1% fell over 90%. In the five-day period post-hack, the median token price decline was 19%. Now, more than 7% of...
Moreover, Long-Term Holders have been locking in “a reasonably consistent” $138 million in profit a day. Analysts noted that this LTH sell-side pressure is “a read for the daily capital inflows required to absorb supply and keep prices steady.” Accordingly, despite the choppy market conditions, “prices are generally flat over the last few months, suggesting...
“An increase in open interest means that both long and short positions are increasing,” CoinGlass noted. Consequently, this adds more leverage to the market, which can amplify price movements in either direction. Open Interest Figures Mirror Last Week’s Crash Significantly, a similar setup triggered the dramatic 20% drop in the Bitcoin price on August 5th...