Crypto Brief Dec.19: Bitcoin longs on Bitfinex pumped the BTC price plus Ripple, ETH, ADA, LTC, VET, OXT, Coinbase, Upbit, IPX, Bithumb, Binance, Poloniex news

By Emma On Dec 19, 2019

From the spike of Bitcoin longs on Bitfinex to Binance announced the removal of some trading pairs. These are some of the prominent news in the crypto space.

Bitcoin News

The number of longs on the Bitfinex exchange has reached an all-time high. This is unusual because Bitcoin prices have dropped by around 10% in recent days.

This could be a whale or some whales are staking Bitcoin at a lower price to expect a significant price pump.

Trader The Moon expressed distrust in Bitfinex’s longs chart, which has been steadily increasing since November 24.

Wow, what is actually going on in the @Bitfinex longs chart? ?

Are whales getting ready to pump the #BTC price?

Seems like something is up here. Can someone please explain to us what is happening down below??? ? pic.twitter.com/ggG5DAEzR1

— The Moon (@themooncarl) December 18, 2019

This is a strange issue because prices have dropped significantly while long orders are doing the opposite. Initially, this sparked fears about a long-squeeze, an action in which a fall in prices led speculators to close longs. This often results in a more pronounced decline in the price of assets.

Due to the rapid and sharp fall in prices, this is a risky proposition, as trader Filb Filb has expressed the same skepticism and confusion for the event.

I dunno what you’re doing Mr Finex whale but it’s an impressive flex. pic.twitter.com/FX0qMi5vh5

— fil₿fil₿ (@filbfilb) December 17, 2019

On December 18, the Bitcoin price began a small upward move with decent volume, up 4.5% in over an hour. This is the beginning of the aforementioned pumps. Today Bitcoin has increased by 10% as AZCoin News reported and it seems the tactic has been successful.

Bakkt Bitcoin Futures reached a new ATH

Bakkt tends to set new transaction records when Bitcoin makes moves in either direction. This time is not an exception either. Bakkt Bitcoin Futures has just set an all-time high when Bitcoin begins to rally. According to the ‘Bakkt Volume Bot,’ nearly $ 50 million in Bitcoin futures trades were physically paid on December 18.

∙ Today’s volume so far: 6312 BTC ($45.56 million)
∙ Last traded price: $7,218
∙ Trading day progress: 83%
∙ Current daily Bakktarget™: 6994 BTC ($50.48 million)

— Bakkt Volume Bot (@BakktBot) December 19, 2019

Bitcoin ‘UTXOs in loss’ at record ATH

The number of unspent transaction outputs (UTXOs) in loss rose to ATH above $45 million on December 17, representing a 578% rise from the July 1 figure of $6.69 million, according to Glassnode.

1/ UTXO metrics suggest that investors are staying put despite being at a loss.

After #BTC‘s local top in June, fewer transactions require less UTXOs to be created.

That in combination with the declining price, caused the number of UTXOs in a loss to remain at ATH since weeks. pic.twitter.com/nGctzxaYl9

— glassnode (@glassnode) December 15, 2019

Ethereum News

Ethereum, as well as other cryptocurrencies, bounced back today but the overall trend is still down. From a low of less than $ 120, ETH has gained 5% on the day to return above $ 130. Currently, ETH has dropped to $ 127 after reaching a high of $ 134 in the past 24 hours.

Last year, ETH broke below $ 85 and analyst “Josh Olszewicz” thought it could drop even lower.

meanwhile, $ETH

don’t @ me pic.twitter.com/1RcYC4AXU5

— Josh Olszewicz (@CarpeNoctom) December 17, 2019

From the highest level in 2019, Ethereum has adjusted 64%, Bitcoin has only decreased by 48% in the past six months.

However, not all are discounted. According to some analysts, this could be a huge accumulation period for Ether at the end of its nearly two-year bear market.

This is probably the most bullish chart that you’ll see in a while.$BTC vs. $ETH pic.twitter.com/fFnNyCqShu

— il Capo Of Crypto (@CryptoCapo_) December 16, 2019

An Ethereum HODL’r seems to be running out of patience since ICO 2015. For some reason, this address has sold about 300,000 ETH since then.

Curious who this ETH ICO participant is: https://t.co/mA4mzt1tru

They’ve dumped (?) almost 300k ETH in the last few months – after hodling 530k ETH since the ICO in 2015.

3 days ago they transferred 60k ETH out of their wallet.

— Alex Svanevik (@ASvanevik) December 16, 2019

Ripple News

Ripple is making progress on XRP-based banking applications, said XRPL Labs CEO Wietse Wind. XUMM is designed to give people a way to save and spend euros, dollars, XRP and other currencies without any help from a financial institution.

XUMM workflow:
1. App sends a payload to the API (server to server)
2. User gets redirected to XUMM payload page
3. User scans payload QR
4. User reviews & signs the transaction
5. Payload page redirects to success page (& app (#1) receives webhook with status & TX hash, etc.)
? pic.twitter.com/XznhfFQVaE

— Wietse Wind { ???????: ???? } (@WietseWind) December 18, 2019

XRP has lost more than 90% of its value since its 2018 peak and the price is currently weakening at around 18 cents. That makes it one of the worst-performing currencies in 2019.

According to InvestingHaven, all the current price dynamics around Ripple’s currency are really a good sign. XRP holders can expect a result of price increases before March 2020.

The more bearish the sentiment around #XRP the more bullish we are because:

1) traction in ADOPTION
2) chart pattern a giant rounding formation similar to #silver in 2002

Expect a bullish outcome before March 2020.

When is this invalid? See herehttps://t.co/uCttUjdWI9 $XRP pic.twitter.com/3mayMjsDPG

— InvestingHaven (@InvestingHaven) December 8, 2019

Upbit News

Upbit Indonesia is officially registered with the Commodity Futures Trading Regulatory Agency (BAPPEBTI) and has obtained a registration certificate with Registration Number 002 / BAPPEBTI / CP-AK / 12/2019 on December 13, 2019.

Upbit Indonesia resmi terdaftar di Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) dan telah memperoleh sertifikat pendaftaran dengan Nomor Registrasi 002/BAPPEBTI/CP-AK/12/2019 pada 13 Desember 2019. pic.twitter.com/wT2v8l9POZ

— Upbit Indonesia (@UpbitID) December 17, 2019

OXT and Coinbase News

Orchid (OXT) is now live on Coinbase and in the Coinbase iOS and Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive, or store OXT.

Orchid (OXT) is now live at https://t.co/bCG11KMQ6s and in the Coinbase iOS and Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive, or store OXT.

— Coinbase (@coinbase) December 18, 2019

Bitfinex News

Bitfinex today eliminated fees for deposits of less than $ 1,000 in cryptocurrencies or stablecoins. Sending fiat still costs 0.1 percent of the charge, and has a minimum of $ 60.

We have removed the small deposit fee!

Bitfinex’s users can now enjoy fee-free crypto deposits also for amounts less than 1,000 USD equivalent.
Discover more about the journey of the small deposit fee and the reasons why we decided to remove it: https://t.co/6HB4FcMziC pic.twitter.com/EMjATqEIVh

— Bitfinex (@bitfinex) December 18, 2019

Binance News

Binance.US, Binance’s cryptocurrency trading platform for US-based users, is asking its customers to test the beta of the upcoming Binance.US iOS app.

The beta testing phase will give Binance.US the opportunity to address possible bugs and resolve them before making the application available to more audiences. Beta testers will use the app for a specific period of time, reporting any bugs or issues and provide feedback on the application, which will help Binance.US decide whether the application is ready for full release.

The https://t.co/AZwoBOy3iq Apps are coming and we need your help to test them!

First up ? iOS beta testing

If you’re willing to provide feedback and want to be one of the first to go hands-on, apply via the form below.

Download links will be emailed:https://t.co/1noYc0pD5E pic.twitter.com/kjFIJJVY5G

— Binance.US (@BinanceAmerica) December 18, 2019

Binance announced the removal of some trading pairs

To improve liquidity and user trading experience among our wide range of available assets, Binance will remove and cease trading on the following trading pairs at 2019/12/20 8:00 AM (UTC): USDS/TUSD, USDS/PAX, SYS/BNB, QLC/BNB, ETC/TUSD.

Notice of Removal of Trading Pairs – 2019/12/20https://t.co/VEHMI6DRRa pic.twitter.com/2Yak7CGlRt

— Binance (@binance) December 19, 2019

Binance increases the maximum leverage of the ETH/USDT

Binance just announced that the maximum leverage of the ETH/USDT perpetual contract has now been increased to 75x.

#Binance Futures Increases the Maximum Leverage of the ETH/USDT Perpetual Contract to 75xhttps://t.co/9vSHr9Hqwq pic.twitter.com/JUmPmv8Yq2

— Binance (@binance) December 19, 2019

Highly leveraged trading uses a sophisticated liquidation and risk liquidation model. This number will vary depending on the size of the position (the larger the position, the lower the allowable leverage).

Poloniex News

Poloniex announced that it will offer an unprecedentedly high-interest rate for users who wish to lend USDC and USDT loans, up to 65% APR (USDC) và 8.5% (USDT) for customers in the European Union.

EU customers: Got $USDC or $USDT? Get interest ?

Starting now, USDC & USDT lending is open for EU customers pic.twitter.com/JAMdL4xV1I

— Poloniex Exchange (@Poloniex) December 17, 2019

This announcement of the new offering has been controversial and led many people in the cryptocurrency industry to point out that it has signs of a Ponzi scheme.

Polonieeeeccccctttttttttt pic.twitter.com/stDgLld1gu

— Future of Finance (@AtomicSwapper) December 17, 2019

Cardano News

According to Weiss Crypto Ratings, Cardano is one of the “most undervalued” digital assets. The price of the ADA does not reflect the fundamentals of the project, but it did not provide the rationale behind the evaluation.

“Cardano is easily one of the most deeply undervalued #crypto assets on the market. Its price doesn’t reflect its fundamentals. #cryptocurrency #ADA #altcoins #Cardano

— Weiss Crypto Ratings (@WeissCrypto) December 18, 2019

IPX and Bithumb News

Bithumb announced the listing of Tachyon Protocol (IPX) on the Bithumb and Bithumb Global exchanges and will host online airdrop events to commemorate the listing of IPX.

Trading activities for IPX on the Bithumb exchange have begun on December 17, 2019, at 6:00 PM (KST), one hour after the first IPX / USDT transaction is processed on the Bithumb Global exchange. IPX deposits for both exchanges are available from 2:00 PM.

$IPX will be listed on Bithumb today!

In order to celebrate our new listing,
we will run ‘1.01 Million Airdrop Event’?

For more details >> https://t.co/edaDXVC9cS #Bithumb #Crypto #Airdrop #IPX #TachyonProtocol @tachyon_eco pic.twitter.com/a5ltWnasXi

— Bithumb (@BithumbOfficial) December 17, 2019

Litecoin News

Litecoin is currently powered by StormShop, an e-commerce platform that allows consumers to earn cryptocurrency rewards when shopping online.

We’re excited to bring Litecoin users another great way to earn free crypto! https://t.co/fOZ43iRadr

— Storm Play (@StormPlayApp) December 18, 2019

Users can now earn 40% back in LTC when they shop at leading retailers like eBay, Macy, GameStop, Princess Cruise Lines and Microsoft with every purchase anytime, anywhere and from any device.

VeChain News

VeChain will cooperate with China’s Anhui Tea Industry Association, established in 1998 to accelerate the development of the tea industry across the province by leveraging VeChainThor blockchain technology.

VeChain partners with Anhui Tea Industry Association. Located in Anhui, China, a province with a population of 62 million & estimated gross value of $7.1 billion in tea trade, this partnership connects #VeChain with 670 enterprises + 174 business owners. https://t.co/4wxNI8lvJv

— VeChain Foundation (@vechainofficial) December 17, 2019

China is building alliances with leading technology leaders to guide government efforts in the application of blockchain solutions across all industries. A new partnership with VeChain, a leading blockchain platform for enterprise solutions in logistics and supply chain traceability, will focus on Anhui, the 8th most populous province in China and the tea industry worth 7.1 billion dollars.

Other News

The OOC piloted industrial voting on the blockchain

A team of 10 major global oil and gas companies including heavy mercenaries like Chevron and Shell has successfully digitized industrial voting using blockchain.

The Oil & Gas Blockchain Consortium (OOC) has successfully piloted a blockchain-based system to authorize voting (AFE) in cooperation with Canadian technology provider GuildOne.

AFE balloting proof-of-concept (PoC) is the first of its kind and is intended to allow participants to submit ballots and conduct digital elections using blockchain technology.

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