Free Bitcoin 2020

Image
Free Bitcoin 2020
Earn Free Bitcoin Daily in Internet 2020 Learn different ways to earn Bitcoins by completing simple tasks, Captcha’s and sell your Bitcoins for real money.


What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Crypto Volumes Surge in August: Binance Largest Spot Exchange as Huobi Leads Derivatives

Crypto Volumes Surge in August: Binance Largest Spot Exchange as Huobi Leads Derivatives

The latest report by Cryptocompare shows August spot cryptocurrency traded volumes by the 15 largest top-tier exchanges increased by 58.3% to $529 billion versus July figures. Low tier exchanges volumes, on the other hand, increased by 30.2% to end the month of August with a total of $291 billion.

Binance leads the top tier list with volumes traded on its platforms having jumped by 83% overall to $129.9 billion. Huobi Global and Okex, which ranks second and third, recorded traded volumes valued at $65 billion and 64.7 billion respectively.

Crypto Volumes Surge in August: Binance Largest Spot Exchange as Huobi Leads Derivatives

Also making the list of top tier exchanges is Coinbase, Kraken, Bitfinex, Liquid and Bitstamp. All the remaining top tier exchanges recorded spot trades volumes that did not exceed $25 billion, according to CryptoCompare.

In the meantime, the same report shows growing demand for derivatives after volumes surged by 54% to $711.7 billion. Derivatives now constitute just over 40% of total market share after spot markets garnered a total of $944.9 billion.

Huobi had the biggest derivative volumes with $208.5 billion followed by Okex with 190.8 billion and Binance, which had the biggest jump in August (74%), with $184.6 billion.

Crypto Volumes Surge in August: Binance Largest Spot Exchange as Huobi Leads Derivatives

Meanwhile, monthly CME futures contract volumes increased by 36.3% since July to reach 203,867 contracts traded in August. In terms of total trading volume in August, “CME’s crypto derivatives volumes have increased 55.7% in line with many unregulated derivatives competitors to reach $12.02bn.”

At the same time, exchanges that “charge traditional taker fees represented 84% of total exchange volumes in August when compared to 82% in July.” Exchanges that “implement Trans-Fee Mining (TFM) represented less than 16%.”

In value terms, “fee-charging exchanges traded a total of $685bn in August, an increase of 50.13% since July while those that implement TFM models traded $125bn up by 53.94% since July.”

Bitcoin volumes that were converted into fiat or stablecoin also increased. The reports states:

BTC trading into USDT increased 16% in August to 6.25mn BTC vs 5.41mn BTC in July. Trading into USD and JPY also increased to 1.28mn BTC (up 21%) and 1.12mn BTC (up 26%) respectively. EUR markets increased by 10%, while BTC trading into KRW increased by 23%.

The BTC/USDT pair still represents the majority of bitcoin traded into fiat or stablecoin in August at 65%. Bitcoin’s proportion of total volume in July was 66%.

What are your thoughts about these rankings? Tell us what you think in the comments section below.

The post Crypto Volumes Surge in August: Binance Largest Spot Exchange as Huobi Leads Derivatives appeared first on Bitcoin News.



from Bitcoin News

Comments

Hot News

Free Bitcoin 2020

Defcon Speaker Discusses Liberating $300K Worth of Bitcoin From an Encrypted File