Trading volume on Bakkt sets records

Colin Baseman

In October, Bitcoin delivery futures on the Bakkt platform set a record. During the day, 640 contracts were sold with a total value of $ 4.8 million. The indicator was 653% higher compared to the previous trading day. At the same time, the value of bitcoin fell to $ 7,500, which was the lowest figure in 5 months.

Trading bitcoin futures

The volume of bitcoin futures trading on the Chicago Mercantile exchange at the end of October 2019 reached almost 8,200 contracts, which is 65% higher than the previous trading day. The total amount of operations performed is $ 307 million.

After that, bitcoin continued to decline. The main cryptocurrency has dropped to the level of 6700 dollars per coin. At the end of November, the coin was again trading around 7500 dollars. The winter started with a correction, the support level was 7240 dollars.

At the end of November, monthly contracts at Bakkt set a new record, which amounted to 5671 units, which corresponds to 43 million dollars. The reason for the growth is a powerful increase in the value of bitcoin. The previous maximum was 20.3 million rubles, which was set in a declining market. In the article "Bitcoin forecast for 2020", you can explore analytics from experts about the main factors that will determine the course of the main cryptocurrency.

Ethereum intends to delay the difficulty bomb.

Cryptocurrency #2 by capitalization has planned an urgent hard fork. It will be held after the implementation of the Istanbul update. The changes are expected to delay the difficulty bomb.

The Ethereum community believes that this mechanism is weak in terms of the risk-return ratio. Implementation of the update may lead to the subsequent collapse of the Ethereum hashrate.

Hudson Jameson, the company's top manager, said that an update could be implemented as early as the middle of the first month of 2020. Miners must install the latest version of the software in advance.

The second-most-capitalized cryptocurrency lowered its daily coin issuance by 7%, bringing it to 11,800 ETH. The time to search for blocks has increased to almost 15 seconds. The fall in inflation was the second in a month.

Recently, many experts have poured a sea of criticism on Ethereum. Thus, Nouriel Roubini noted that its fundamental cost is zero.

In the US, Virgil Griffith of the Ethereum Foundation was arrested

In the United States, Virgil Griffith, who is a researcher at the Ethereum Foundation, was arrested. The company's representative is accused of having ties to North Korea and violating the White House's sanctions regime.

In the spring of 2019, an employee of the company visited the blockchain conference in North Korea. He is accused of telling Pyongyang about the possibilities of using cryptographic currencies to circumvent sanctions and make transfers from one country to another. Griffith did not file any special permits in the Department of Justice and OFAV to enter  to enter the DPRK and provide his services to the state. He faces a 20-year sentence.

The Ethereum Foundation is trying to separate itself from Griffith. Representatives of the company noted, "We have heard allegations against Virgil Griffin. We confirm that our company did not have an official representation at the events described in the documentation of the Ministry of justice. We did not support or approve of the trip."

German banks can make friends with Bitcoin

The German Parliament has passed a law that allows financial institutions to make purchases, sales and storage of cryptographic currency. In accordance with the new rules, it is sufficient for banks to have a special license that will allow them to provide online banking services. These include transactions with cryptographic currencies, bonds and shares of German financial institutions.

The draft law was considered through the prism of measures aimed at complying with the requirements of the European Union's anti-money laundering Directive.

German legislation on the purchase/sale of cryptocurrency by banks

The draft law that allows financial institutions to purchase and sell bitcoin and other cryptographic currencies was adopted by the German Parliament at the end of November. It will be effective from the beginning of 2020.

In accordance with the new legislation, financial organizations will have the right to store crypto assets, including Bitcoin. The draft law was considered when studying measures aimed at complying with the requirements of the EU Directive related to countering money laundering.

Users of the Binance exchange can now use Ethereum futures with a leverage of up to X50

The Binance crypto exchange announced the start of using an indefinite contract on the basis of the Binance Futures platform, which allows for ETH-USDT trading. The asset can be traded with a leverage of 1-50x.

Binance Futures clients can trade bitcoin futures contracts with 125x leverage.

As you can see, the bearish trend in the market does not prevent active trading of Bitcoin and Ethereum. Crypto exchanges offer clients more and more new tools. One of the best platforms for trading cryptocurrencies is Binance. It offers users small commissions, convenient functionality and professional information support. The mobile app will help you always have a trading terminal with you and not miss a good deal. If you want to try yourself in trading, start your path to success with Binance.