Important news of the cryptoindustry

SocialMedia.Market
Apr 11 · 3 min read

Investors are coming back to the cryptocurrency market

Kane Warwick, CEO of Blueshyft, Australian payment processor stressed that fiat money is returning to the cryptocurrency market. According to him, the volume of fiat deposits entering the crypto exchanges is almost the same as in May 2018.

“This is a new inflow of fiat to the crypt, retail buyers are returning to the market,” said Warwick. The inflow of fiat money is one of the best indicators reflecting the organic interest of market participants” and the desire of the latter to invest in cryptocurrency.

“Trading volumes are easy to manipulate. However, it is much more difficult to falsify data on the flow of money entering the ecosystem”.

This statement is quite convincing. Recently, we get enough evidence that the absolute majority of exchanges significantly overestimate trading volumes.

Peak trading volume at CME

On April 1, the volume of trading in futures on BTC was 2162 contracts, and on April 4 this figure reached 22542 contracts. The growth by more than ten times was systematic on April, 2, 3 and 4. Considering that the size of the futures contract at CME is 5 BTC, 22,524 contracts correspond to 112,710 BTC or more than $560 million. The previous peak was recorded on February 19, then the trading volume of bitcoin futures was 18.3 thousand contracts. At that moment, the price of BTC was at the level of $11100, which is approximately $1015 billion.

Coordinator for Largest Group of Mt. Gox Creditors Leaves Post, Sells His Claim

Bitfinex has removed the minimum deposit limit

“We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base. For the last six months, we have been working hard to ready our platform for a new wave of customer accounts and are now in a position to open Bitfinex to a wider audience.”

Banking industry and cryptocurrencies

About 1,500 employees have been testing this currency since 2017. In May 2018, MUFG announced its intention to test MUFG Coin with 100,000 account holders in 2019. But the newly appointed president of the company, Kanetsugu Mike, does not mention the exact release date.

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