December 3, 2020

Cryptheory

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Crypto News of the Day (14.2.) | Interest in Bitcoin futures exceeds $ 5 billion • Binance adds 15 fiat currencies, wants to expand • and more

3 min read
Crypto News of the Day (14.2.) | Interest in Bitcoin futures exceeds $ 5 billion • Binance adds 15 fiat currencies, wants to expand • and more

Here you can find an overview of the most important crypto events in the last 24 hours.

 

Markets

After a slight correction yesterday, the markets are generally green again. Bitcoin is currently just above $ 10,200. XRP, Litecoin and Tezos are also doing well.

 

You can monitor the current cryptocurrency prices – here.

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Cryptocurrencies

 

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Crypto exchanges, Banks

 

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Regulations, State cryptocurrencies

 

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Interest in Bitcoin futures exceeded USD 5 billion

 

The aggregate open interest in Bitcoin futures exceeded $ 5 billion. Open interest refers to the value of outstanding futures contracts that have not yet been settled. An increase in interest in these contracts signals that more money is entering the market and that traders expect a short-term increase in underlying volatility.

BitMEX currently has the highest amount in these contracts, $ 1.6 billion; about 31.0% of the total aggregate amount. BitMEX’s dominance has diminished in recent months, declining from 44% in November. BitMEX is followed by the Chinese exchanges OKEx and Huobi, which register these contracts of about $ 1.4 billion and $ 1 billion.

 

Ripple wants to expand to Asia and Pacific, offering assistance to local banks

 

The APAC region is currently experiencing an increase in payments. However, according to an article by Pegah Soltani, Head of Product Marketing at Ripple, there are problems with transferring funds between different local currencies.

Currently, Soltani writes that the APAC market registers around 2 billion transactions a year. Ripple encourages local payment services and banks to contact them to improve their systems with Ripple’s On-Demand Liquidity, which runs on XRP.

 

Nasdaq, Visa and Morgan Stanley traders have solutions for low liquidity exchanges

 

A group of matador merchants from companies such as NASDAQ, Visa and Morgan Stanley say they have created a liquidity solution for disparate global crypto markets. After 18 months of development, their Apifiny project came out with a new platform focused on exchanges that were constrained by low liquidity: ExOne.

It is a back-end tool for emerging finance, coupled with technological advances in traditional markets, which, despite its off-chain solutions, have countless advantages over crypto exchanges. Real-time bids on individual exchanges can vary by thousands of dollars. ExOne is expected to communicate with crypto exchanges and generate a consolidated offer that will be the most optimal offer for system users.

 

Binance adds 15 fiat currencies, wants to expand

 

Binance Crypto exchange announced on Friday that users can now buy cryptocurrencies and choose from a longer list of supported fiat currencies through integration with Israeli fiat payment processor Simplex. The new integration provides gateways for currencies including the Swiss Franc, the Korean Won and the Australian Dollar, as well as the Polish Zloty and South African Rand.

Currencies that have already been made available through Binance’s fiat-to-crypto system, such as GBP and Russian Ruble, are now also supported through Simplex. Developers have confirmed that integration is fully operational from Thursday afternoon. Supported fiat currencies will be paired with the underlying cryptocurrencies offered on Binance – the assets that the exchange uses for its default trading pairs. These currently include Bitcoin, Ether, XRP and some selected fiat currencies, including the US dollar and Nigerian naira.

 

Trump’s Fed Nominee for head of the Fed wants a digital dollar

 

Judy Shelton, nominated by President Trump as head of the Fed, told lawmakers that digitizing the US dollar could help maintain currency dominance in global trade. Shelton confirmed at a hearing on Thursday that the US needed state-of-the-art innovation to stay ahead of other countries.

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