U.Today – U.Today brings you the three most popular fresh stories from the last day.
Binance Sees Huge Volume Drop: What’s Happening?
Yesterday, CoinGlass, an analytics platform that provides data and metrics on various cryptocurrencies, saw a significant decline in Binance’s trading volume, with the main asset losing between 70% and 95% of its volume. For example, PEPE fell over 97.5%, lost 62% and fell 88.9%. One possible reason for this is the malfunctioning of trading bots that maintain the market liquidity balance. If a critical bot is disabled, it immediately eliminates a significant portion of trading activity, resulting in a rapid decline in trading volume. The reason why bots go offline is still unclear; it could be a technical issue, an update or maintenance on the platform. Another possible cause is changes in Binance’s policies or restrictions on its APIs.
(SHIB) surges 290% in key whale metrics
According to data provided by IntoTheBlock, Shiba Inu saw a 290% raise in huge transaction volume yesterday. Over the past 24 hours, the rate increased from SHIB 1.23 trillion to SHIB 3.57 trillion, reflected in an raise in transaction volume from $29.93 million to $91.04 million in dollar terms. In total, 268 such whale transactions were concluded during the period. Yesterday’s Shiba Inu price movement was equally captivating; Due to concerns about Mt.Gox honoring its Bitcoin commitments, the price of SHIB fell by over 3%. Today, however, the meme price is changing hands at $0.00002728, up 5.84% in the last 24 hours. Shiba Inu’s chart shows that he is preparing for his next large move, and the whales are accumulating billions of tokens in anticipation.
Bitcoin ETPs are starting to operate on the London Stock Exchange
Following last week’s approval of 21Shares and WisdomTree’s Bitcoin ETFs by the FCA, their products were yesterday listed on the London Stock Exchange, the 11th largest stock exchange in the world by trading volume. However, since retail investors will not be able to purchase these ETPs, they are unlikely to generate significant demand. The FCA has raised concerns about the harm these products may cause to retail buyers. Due to diversification rules, European regulations prohibit issuers from offering ETFs for a single commodity, such as Bitcoin. Cryptocurrency ETPs that have been around for years provide buyers with a rather similar investing experience. These products also provide the same level of transparency and investor protection.
