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

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.

Crypto Brief Dec.19

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Litecoin News

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

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.

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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