Exchanges

The post Why Major Crypto Exchanges Withdrew License Applications in Hong Kong appeared first on Coinpedia Fintech News Amidst Hong Kong’s new licensing regimes for crypto exchanges, Livio Weng, the CEO of Hashkey Exchange, has pointed out that Hong Kong’s financial regulator might have considered the user base from a ‘sensitive region’ during its review of license applications from certain international crypto exchanges. Weng, however, in an interview with Block, revealed that he couldn’t elaborate on the “sensitive region,” which…

Recent data shows that the supply of Bitcoin (BTC) and Ethereum (ETH) on exchanges has dropped significantly. This means the largest crypto tokens by market cap could be well-primed for significant moves to the upside, with a supply squeeze imminent.  Supply Of Bitcoin And Ethereum Drop To New Lows BTC ECHO analyst Leon Waidmann shared Glassnode data, which showed that exchange balances for Bitcoin and Ethereum are at their lowest in years. Bitcoin’s supply on exchanges has dropped to 11.6%,…

The winds of change are blowing through the Ethereum ecosystem. Since the long-awaited approval of spot Ether ETFs in the US on May 23rd, a quiet exodus of Ether has been underway. A massive amount of the world’s second-largest cryptocurrency, or around $3 billion, has vanished from centralized exchanges, marking the lowest level of Ether reserves in years. This flight of the digital asset has analysts buzzing with the possibility of a supply squeeze, potentially propelling Ether to new heights.…

The post Hong Kong Orders Immediate Shutdown of Unlicensed Crypto Exchanges appeared first on Coinpedia Fintech News Hong Kong has taken a hard stance against unlicensed cryptocurrency exchanges, issuing a directive for immediate shutdowns. The Securities and Futures Commission (SFC) of Hong Kong has disclosed that eleven platforms, including HKbitEX, PantherTrade, Accumulus, DFX Labs, Bixincom, xWhale, YAX, Bullish, Crypto.com, WhaleFin, and Matrixport HK, are now deemed-to-be-licensed applicants.  Only Crypto.com has secured approval out of the well-known offshore exchanges, while others…

Investor confidence appears to be on the rise in the crypto market lately, and Bitcoin has been a major beneficiary of this positive trend. Consequently, there has been a continuous accumulation of BTC amongst large-scale investors despite its somewhat frustrating price action. The premier cryptocurrency’s price may have ended May beneath the psychological $70,000 mark, despite having touched the level a couple of times in the last two weeks of the month. The latest on-chain data suggests that the faith…

In a groundbreaking move, Retik Finance (RETIK), a formidable rival to Cardano, launched on major exchanges and Uniswap. This event marked a pivotal moment, triggering substantial gains for the innovative project. With an initial listing price of $0.15 and a $32,050,000 raise during its sold-out presale, Retik Finance (RETIK) demonstrated its potential to disrupt the decentralized finance (DeFi) sector. Retik Finance (RETIK): Redefining DeFi Retik Finance (RETIK) stands at the forefront of the DeFi revolution, aiming to bridge traditional finance…

London, United Kingdom, May 29th, 2024, Chainwire Memeinator the viral new meme coin, continues its upward trajectory following its successful $7.7 million presale and has confirmed it will list its MMTR token today, the 29th of May, at 3 PM UTC on both MEXC and Uniswap. MEXC, popular among both novice traders and experienced investors, has listed several meme coins that have shown significant growth in 2024, such as MEME and BONK. The exchange currently has trading volumes exceeding $1.6…

Bitcoin briefly shot over $70,000 yesterday before plunging below $69,000 to spot rates. While there are hints of weakness, one analyst on X notes that inflow to exchanges like Binance and OKX is subdued, meaning that users are not keen to sell despite prices tanking and failing to break $72,000. Bitcoin Inflow To Exchanges Remain Low The analyst notes that exchange inflows are low at spot rates. As of May 28, exchanges received just 25.9K BTC daily. From historical exchange…

The post Ether Inflows to Exchanges Hit Highest Point Since January appeared first on Coinpedia Fintech News The amount of Ether flowing into exchanges hit the highest point since January, with a netflow of 140.66k $ETH on Saturday. This marks the highest net deposits to exchanges in over four months. High inflows to exchanges are typically signs of selling behavior, as people either try to claim profits or succumb to FUD (Fear, Uncertainty, and Doubt) with ETH price drawing close…