One-Stop Cryptocurrency Solution Platform CoinMetro Extends Sale Date to March 31st, 2018, Having Raised Almost $15 Million.

Price change is the $ETH percentage change within the period:

The 24 hour volume for $ETH/USD on Bitfinex is $139,305,000. This volume weight is moderate to heavy when compared with Bitfinex daily trading levels for $ETH over the last month.

The total 24 hour volume for all reporting $ETH markets is $1,766,230,000.

The Bitfinex currency pair $ETH/USD is 7.89% of all $ETH traded in twenty-four hours. OKEx (4.94%) and Huobi (4.71%) hold second and third ranked $ETH pairs today.

Top $ETH Pairs
Tap/click for detail:

The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03. The Ethereum marketcap is $40,482,676,812 with a circulating supply of 98,490,808 $ETH. $ETH/USD is trading between a 24hr high of $450.99 and a 24hr low of $395.00 on a 24hr Bitfinex volume of $139,305,000. This trading volume is moderate to heavy in a worldwide volume of USD$ 1.76 billion. The weekly price trend is down.

Cryptocompare.com Market Analysis Report 29 March 2018 states:

“The Russian Association of Crypto-Currency and Block-Finish (RACIB) along with industry associations in Korea and China are planning to sue Google, Twitter, Facebook and Yandex for refusing to place cryptocurrency advertising. RACIB head Yuri Pripachkin told the Blockchain RF-2018 congress. The actions of these four tech companies have negatively affected the crypto market:

“We believe that this is a use of the monopoly position of these four companies, which have entered into a cartel agreement with each other in order to manipulate the market. The ban from these four organizations has led to a significant drop in the market in recent months.”
“

Cointelegraph ran a story today titled “bitcoin Drops Below $7500 As Twitter Ban Takes Toll On Markets”. They observed it was “a depressing week for traders since Twitter confirmed it would ban cryptocurrency advertisements March 26, BTC/USD fell to $7450 on Cointelegraph’s Price Index.”

Zane Huffman on TheMerkle wrote “When individuals want to exit cryptocurrency markets, they likely have to dump their altcoins for BTC to dump BTC for cash. Every one dollar sold generates two or three dollars of sell pressure. This would explain the extreme volatility through both the recent upwards and downwards trends.”

CoinDesk ran a story “Major Cryptocurrencies Are Hitting 2018 Lows Today” but gave no reason why.

Regulatory uncertainty and restrictive banking and corporate measures in months past have also taken their toll on the descending price of bitcoin and crypto.

The last time ethereum was at today’s price was four months ago on or about November 23 of 2017, according to CoinMarketCap.com.

One Year $ETH Chart

$ETH One Day Candles

Browse Ethereum Collection

Learn about the unique characteristics of $ETH. Browse our collection of Ethereum Market Reports.

Thursday March 29 2018 bitcoin Background

Altcoins such as Ethereum ($ETH) may show a relationship with bitcoin ($BTC) which changes with the alt, bitcoin and market conditions:

24 Hours of bitcoin
24 Hours of #bitcoin
-5.11% price $7,537.90
vol $5,495,130,000
mktcap $127,740,080,112
16.95M #XBT 18:45
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Yesterday

Tap / click to enlarge:

The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03.

Main Data Source

Bitfinex is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Bitfinex.

Secondary

CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from CoinMarketCap.com.

Tertiary

XBTLivePriceTM and 24 Hours of bitcoin are fine data products from KittyBitcoin.com

Other sources are credited where used.

Market capitalization is the total $US dollar value of the Ethereum market calculated using the formula:

As some cryptocurrency exchanges are adding new altcoins, tokens and forks all the time, cashing in on massive listing fees from promoters, the need arises to trim the fat ever so often. Now Cobinhood is removing a few, offering a glimpse on how trading venues decide which tokens to cull. 

Also Read: Canadian Multinational Bank BMO Blocks Cryptocurrency Transactions

Changes to Token Listings

Taiwan-based cryptocurrency service platform Cobinhood has recently announced a number of changes to its roster of available trading instruments. The following tokens will no longer be supported on the exchange: Funfair (FUN), Gnosis (GNO), ICONOMI (ICN), Santiment (SAN), Substratum (SUB) and Voise (VOISE). Depositing, trading, and all open orders will be cancelled automatically on April 13, 2018.

The exchange team explains that, “After careful consideration, we factored these criteria, while not exhaustive, as determinants of discontinuation. Limited trading volume on the exchange, which could potentially lead to trading malpractice (e.g. pump and dump). Poor community reception. Unestablished cooperation with the token team.”

In contrast, Cobinhood announced the addition of bitcoin cash (BCH) support starting March 30, including the abilities to deposit, withdraw, and trade BCH-BTC, BCH-ETH, and BCH-USDT pairs. The exchange is also launching corporate accounts meant for companies and organization rather than individuals, with no deposit limits.

Limiting Tether Pairs

Cobinhood also decided that Tether (USDT) as a quote currency will only be made available for sixteen base currencies (BRD, BDG, BOT, BTC, COB, CMT, CGC, DXT, ENJ, ETH, LALA, LTC, LYM, MCO, Qtum, and UTNP) starting April 20. After the date passes, open USDT orders paired with all other base currencies will be cancelled automatically. It currently offers about fifty USDT pairs.

This move is perhaps a little bit surprising considering that Cobinhood has only switched from USD to USDT based trading pairs in February. However, this controversial dollar-proxy has been facing growing criticism recently, causing some exchanges to want to limit their dependence on it. For example, earlier this month Bittrex added a second stablecoin in the form Trueusd, in a move seen as a hedge against future Tether regulation.

How should exchanges treat low volume altcoins? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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The post Cobinhood Delists Six Tokens Susceptible to Pump and Dump, Limits Tether Pairs appeared first on Bitcoin News.

Bitfinex, the fifth-largest cryptocurrency exchange by 24-hour trading volume, is said to have plans to leave its current base in Hong Kong and relocate its resources to Switzerland. As it was informed, the exchange is already leading negotiations with Swiss authorities on this issue. Nevetheless, Switzerland is not the only destination for Bitfinex to consider, among other possible locations is the United Kingdom.

Jean-Louis van der Velde, CEO at Bitfinex, has confirmed this information. He said: “We are looking for a new home for Bitfinex and the parent company iFinex, where we want to merge the operations previously spread over several locations.” He also confirmed the fact of considering London as a potential new home for Bitfinex, but still, Switzerland remains the company’s priority.

If everything goes successfully with this initiative, iFinex will become a new AG (or Aktiengesellschaft, which is German means “public limited company” that has its shares traded on a public stock exchange). This new entity will replace the former iFinex that is currently located in the British Virgin Islands.

It is expected that core businesses of the company would be based in Switzerland, including iFinex’s legal and finance departments and Bitfinex’s development and customer service bases.  Moreover, it is very possible that van der Velde together with other managers will also transfer to Switzerland to continue working for the company.

It’s worth mentioning that iFinex is also the parent company of Tether. This subsidiary produces tether (USDT), a token pegged to the U.S. dollar. USTD is presented on several exchanges. Bitfinex has it on its list of available currencies as well. Nevertheless, experts express come doubts whether the entire process of USDT issuance was fair and transparent and whether $2.3 billion behind USDT issued by Tether are backed by real fiat money, as no external audit has ever been conducted.

Subpoenas from the US Commodity Futures Trading Commission (CFTC) were sent to both Bitfinex and Tether. And now Bitfinex tries to be very attentive and cautious regarding regulatory requirements in Switzerland. Van der Velde also highlighted: “We want to be the most transparent of all exchanges and meet the requirements of the Swiss regulator”.

Bitfinex is not the first major Asia-based cryptocurrency exchange that is planning to move to a European jurisdiction. As we have already written, the world’s largest cryptocurrency exchange with a $1.7 billion daily trading volume Binance had taken a decision to relocate its headquarters to a new place.

Having received an official warning letter from the Japanese Financial Services Authority (FSA) with a demand to obtain license for continuing its operations in the country, the company began considering potential places to establish their business and opted for Malta. Moreover, Binance has shared its plans for launching Binance Chain, a decentralized digital asset exchange, in its new jurisdiction.

The post Cryptocurrency Exchange Bitfinex Will Likely Move to Zug, Switzerland appeared first on CoinSpeaker.