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Understanding Bitcoin Gambling Investments

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Blockchain

Kraken Daily Market Report for October 29 2020

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Overview


  • Total spot trading volume at $274.1 million, the volume is slightly up from the weekly average of $245.8 million as Bitcoin went up and down 2% in the second half of the day.
  • Usually one of the least traded coins, REPV2 trading volume was up over 1872% against USD. Similarly, REP was up +158% in terms of trading volume. REPV2 closed the day with only 0.17% returns, while REP closed with a 10% return.

October 29, 2020 
 $274.1M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$13452. 
↑1.3% 
$172.3M
ETH 
$387.02 
↓0.5% 
$37.9M
USDT 
$1.0004 
↓0.01% 
$28.4M
LINK 
$11.276 
↓1.6% 
$9.45M
BCH 
$267.53 
↓0.3% 
$5.01M
DOT 
$4.0543 
↓7.0% 
$4.39M
XRP 
$0.2424 
↓1.3% 
$3.68M
USDC 
$0.9998 
↓0.03% 
$3.23M
LTC 
$54.885 
↓1.7% 
$2.88M
XMR 
$124.49 
↓1.7% 
$2.2M
ADA 
$0.0953 
↓3.6% 
$1.79M
FIL 
$32.572 
↓3.0% 
$1.52M
XTZ 
$1.9325 
↓3.5% 
$1.31M
REP 
$13.564 
↑10% 
$1.0M
ATOM 
$4.6354 
↓3.5% 
$908K
PAXG 
$1875.0 
↓0.9% 
$869K
TRX 
$0.0265 
↓1.3% 
$645K
XLM 
$0.0773 
↓1.2% 
$592K
ALGO 
$0.2572 
↓6.9% 
$582K
GNO 
$45.600 
↑12% 
$582K
MLN 
$20.173 
↓4.7% 
$564K
CRV 
$0.4434 
↓9.9% 
$474K
EOS 
$2.6388 
↓0.6% 
$448K
YFI 
$10776. 
↓14% 
$409K
OMG 
$2.8883 
↓5.9% 
$406K
COMP 
$96.937 
↓10% 
$405K
DAI 
$1.0083 
↓0.12% 
$394K
KAVA 
$1.4592 
↓7.4% 
$390K
ETC 
$5.4040 
↓1.9% 
$390K
REPV2 
$12.438 
↑0.17% 
$300K
OXT 
$0.2131 
↓6.4% 
$299K
ZEC 
$56.884 
↑0.06% 
$295K
DASH 
$67.069 
↓1.4% 
$286K
WAVES 
$3.0221 
↓0.8% 
$275K
BAT 
$0.1892 
↓3.1% 
$219K
ICX 
$0.3379 
↓0.27% 
$171K
UNI 
$2.5392 
↓5.0% 
$170K
STORJ 
$0.3382 
↑2.2% 
$122K
SNX 
$3.2352 
↓10% 
$117K
QTUM 
$2.0339 
↓2.4% 
$117K
SC 
$0.0025 
↑2.2% 
$95.6K
XDG 
$0.0025 
↓0.29% 
$86.4K
KSM 
$30.019 
↓4.7% 
$78.9K
NANO 
$0.7723 
↑1.3% 
$73.0K
LSK 
$1.0491 
↓1.6% 
$59.5K
KNC 
$0.8161 
↓4.8% 
$53.7K
BAL 
$10.380 
↓4.2% 
$28.7K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (October 29 2020)



Figure 2: Mid-size trading assets: (measured in USD) (October 29 2020)



Figure 3: Smallest trading assets: (measured in USD) (October 29 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (October 29 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (October 29 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (October 29 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (October 29 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6715/kraken-daily-market-report-for-october-29-2020/

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Blockchain

Fidelity’s Crypto Subsidiary Targets Asian Investors To Buy Bitcoin

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  • Fidelity Digital Asset Services (FDAS) has partnered with Stack Funds to enable Asian investors to purchase and store cryptocurrency assets more freely and securely. 
  • Based in Singapore, Stack Funds is a regulated fund manager focusing on Bitcoin and other digital assets.
  • According to the Bloomberg report, Stack Funds will make Fidelity’s secure custody services available to its clients, primarily based in Asia. The company outlined that the Asian market has been continuously growing in demand towards the cryptocurrency industry, especially from high-net-worth investors and family offices.
  • Stack further explained that all assets under its management will be audited monthly. The firm will provide insurance coverage, weekly contributions, and redemptions to enhance capital security.  
  • Stack’s co-founder, Michael Collett, said that Fidelity’s involvement will enable its company to attract even more investors from the region. 
  • On the other hand, Christopher Tyrer, head of Fidelity Digital Assets Europe, believes that “there’s a critical need for platforms which have a deep understanding of what local and regional investors are looking for.” However, he admitted that the digital asset space has “historically lacked” such platforms. 
  • After its success in the US, Fidelity Digital Assets expanded its cryptocurrency services to Europe last year. The company aims at entering the Asian market as well now with the Stack Funds partnership. 
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Source: https://cryptopotato.com/fidelitys-crypto-subsidiary-targets-asian-investors-to-buy-bitcoin/

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Hacked? Crypto Lending Platform Cred Suspends Deposits And Withdrawals While Cooperating With Authorities

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The popular cryptocurrency lending service Cred has announced that it has temporarily suspended all funds inflows and outflows. Without disclosing many details, the platform said it’s cooperating with law enforcement authorities to investigate an incident.

Cred Suspends Deposits And Withdrawals

The United States-based crypto lending platform, which recently announced joining Visa’s fast track program, updated its customers on Twitter regarding the latest troubling developments with a brief message.

“Unfortunately, we are unable to comment further at this time, but we will undertake to provide an update within the next two weeks. During this period, all inflows and outflows of funds will be suspended.” – read the statement.

Staying true to its fashion, the cryptocurrency community lashed out at Cred and its lack of details about what’s going on. This reaction prompted the lending protocol to comment once again. Firstly, Cred apologized for the concerns and inconveniences it has caused while it’s assessing the “business impact connected with a recent fraudulent incident.”

Furthermore, the post explained that Cred is currently cooperating with law enforcement authorities. However, it provided some reassurances claiming that “no client personal data or account information was compromised.”

It’s worth noting that Cred’s website reads that the platform works with “trusted security and insurance providers Fireblocks and Lockton to ensure that our customers’ digital assets have enterprise-grade security.” Nevertheless, several community members have questioned the state of their holdings on the platform, as they weren’t satisfied with Cred’s brief updates.

A Dissolved Partnership Saw This Coming?

Although it’s still unconfirmed if the so-called “incident” is indeed a hack, it seems that the issues have been transpiring for a while now. Days before Cred suspended deposits and withdrawals, one of its partners ended its relationship with the lending protocol.

The cryptocurrency wallet and trading platform, Uphold, announced on Sunday that users could no longer link their Uphold wallets to the third-party crypto lending provider Cred.

At the time of this writing, neither Uphold nor Cred have disclosed why their partnership agreement ended.

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Source: https://cryptopotato.com/hacked-crypto-lending-platform-cred-suspends-deposits-and-withdrawals-while-cooperating-with-authorities/

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