Bitstamp crypto exchange was the only one to report an increase in flow as all of the centralized bitcoin exchanges reported a decline in activity for the past month as we read in some of the best cryptocurrency news sites.
The data from TokenAnalyst shows that Bitstamp was the only one with an increased flow of activity. Major crypto exchanges such as Bitfinex and Binance saw their inflows and outflows declining over the last 30 days suggesting a decrease in activity but on the other side, the Bitstamp crypto exchange noted an increase in the bitcoin outflow. OKEx also recorded some increase in inflow and outflow of USDT. The Bitcoin trading volume as per the analysis has also decreased during the same period. The increased activity might also lead us to the whales as the twitter account Whale Alert reported that 1.002 bitcoins which are worth about $10.3 million were transferred to Bitstamp to an unknown wallet. Also, more than 55,000 ETH worth more than $10 million was moved from the same exchange to also an unknown wallet.
Over the past few weeks, there were also some huge bitcoin transactions worth hundreds of millions of dollars moved from Okex which made us believe that the crypto exchange might be hacked. However, the CEO of the exchange Jay Hao called for calm stating that it was only a scheduled wallet maintenance procedure. We don’t have information whether the Bitstamp transactions were a part of a similar maintenance event which has caused the influence of the outflow. Another possible reason why that happened could be the increased activity that the institutional investors from the UK made by using the exchange to purchase and sell crypto. The European exchange also partnered with a brokerage company the BCB group which allows transfers in British pounds.
As per the data from TokenAnalyst which we discussed in the previous altcoin news, we can see that the stablecoin’s activity is also increasing over the week compared to the previous week. The inflow of stabelcoins on all exchanges during the week was $469 million which shows an increase of 26 percent. The outflow of stablecoins was standing at about $573 million which is an increase in 41 percent in weekly terms.
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German Government To Combat Libra With New Blockchain Strategy
‘’Up to now, the economy has done a great job in countering crises and inflation with measures taken by central banks. Once a digital currency provider dominates the market, it will be quite difficult for competitors.’’Rather than Libra entering the market in Germany, the authorities appear to be in favor of creating a new state-backed digital currency which will run on the Bundes chain. Part of Germany’s proposed blockchain strategy involves creating a simple framework for crypto startups in the country. As it was previously reported in some of the best cryptocurrency news sites, BitBond in 2019 launched the first even regulated security token offering in Germany. According to Heilmann, the German government hopes that the new blockchain strategy will help the local crypto startups to enjoy the competitive advantages of the market over foreign counterparts. There is also very little information on how the government-run Bundes Chain will incentivize the private participants. For the crypto analyst Alex Kruger, some of the other countries will copy the approach Germany has with the emerging cryptocurrency and blockchain technology industry. Also, the French Finance Minister Bruno Le Maire declared that the country will also work towards blocking the libra crypto project in Europe. Le Maire also explained that Libra is a huge threat to the economic sovereignty of Europe. In China, the central bank is also trying to launch the digital yuan project which is a part of the efforts to block Libra.
Crypto Lawyer Claims: The Lost Mt.Gox Funds Can Be Recovered
“Our plan is to represent the Mt.Gox creditors and help them report to Russian law enforcement so that the investigators could establish the connection between the stolen funds from Mt Gox, the operations of BTC-e and WEX, using Vinnik’s case.’’ZP Legal claims to have successfully recovered as much as $1 million of the funds on behalf of an unnamed client from another exchange based in Russia as we read in the latest cryptocurrency news.
Sportsbet.io Made Smart Partnership With Premier League Watford FC: CZ
“The crypto community have been hugely supportive of us since we began, so putting the Bitcoin logo on the sleeve felt like a fun way to give something back while also showing them our support.’’Sportsbet.io is the first crypto-based company that has its name and logo appear on a Premier League club jersey. The football club will give its fame to the number one cryptocurrency at a time when the price of BTC is outpacing any other cryptocurrency in both yearly gains and trading. The latest move by the platform attracted the attention of the CEO of binance ‘’CZ’’ or Changpeng Zhao who is a huge proponent for crypto adoption. The Binance CEO explained on social media and to its followers on Twitter mostly, that this is a very smart and strategic partnership making the team go into a viral sensation. Sportsbet.io explained the decision to put the logo on the jerseys is a way to say thank you to the crypto supporters that used their services. The crypto community was not so keen on Bitcoin in the summer of 2018 as the community tried to buy a featured ad on the Super Bowl half time show but the NFL moved in to totally ban Bitcoin from being presented as one of the most viewed advertising slots. The crypto advertising industry is still a very contentious topic because some projects are able to reach a huge audience which later leads to large-scale scamming. Bitcoin has never had that kind of advertising campaign but being featured on jersey will definitely boost its visibility as per the analysts and reports for our latest cryptocurrency news.
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