Author: Editorial Office CVJ.CH

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: DeFi tokens are increasingly correlated to high-cap crypto assets. Volume Dynamics: Hourly trade volumes for Litecoin surged past $1 billion — up from a mere $16m — after fake news circulated about a Walmart partnership. Order Book Liquidity: Coinbase’s Tether markets are becoming more liquid, although U.S. Dollar liquidity is still superior on fiat exchanges.…

The OpenVASP Association, whose goal is to facilitate robust compliance with global Travel Rule requirements for Virtual Asset Service Providers (VASPs), announces the launch of the interVASP Messaging Standard (IVMS) validator to help VASPs to comply with the Travel Rule. This is an important step for the global implementation of the FATF’s Travel Rule for Virtual Asset Service Providers (VASPs) and a significant achievement for the adoption of harmonized standards of communication for the virtual assets community. The FATF Travel Rule Since the introduction of the Travel Rule by the FATF in June 2019, the crypto industry has attempted to…

The list of top ten cryptocurrencies by market cap is dramatically different these days than it was several years ago. Bitcoin and Ethereum still remain number one and two, respectively, but the rest of the list is a far cry from what it used to be. Many of the coins now in the top ten saw their debut within the last four years, making them newcomers to the cryptocurrency industry. Despite their youth, they already command billions of dollars worth of capital and have matured into serious assets that everyone in finance pays attention to. PrimeXBT has also been paying…

U.S. crypto exchange Coinbase wants to use a planned $1.5 billion private placement of senior notes for general corporate purposes. This includes potential mergers and acquisitions, as well as other investments. The announced notes, maturing in 2028 and 2031, will be fully and unconditionally guaranteed by Coinbase Inc. The interest rate, repayment terms and other conditions will be determined only through negotiations between Coinbase and the initial purchasers. Capital raise through senior notes According to Coinbase, this capital increase represents an opportunity to strengthen its already strong balance sheet with low-cost capital. Coinbase intends to use the net proceeds from…

Bitcoin Suisse founding member and former Morgan Stanley Vice President to co-lead Fireblocks’ Swiss expansion as Fireblocks announced it will be dedicating significant resources toward expanding its presence and growth in the DACH market with the opening of an office in Switzerland. Over the last six months, Fireblocks has doubled the size of its European team to support the increasing number of institutional customers in the region with close to 200 customers in the DACH market. To support Fireblocks’ customer base in the region, the company has appointed Richard Astle and Ana Santillan as co-Heads of Switzerland. Richard brings extensive…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Markets closed the week down double-digits following the abrupt sell-off on September 7th. Volume Dynamics: Several exchange reported downtime after posting the highest daily volumes since May. Order Book Liquidity: We explore how liquidity evaporated during the worst of the sell-off. Derivatives: Ethereum open interest surged to all time highs before collapsing. Macro Trends: Real…

Bitcoin USD daily Basis Bitcoin USD Chart Analysis – Sustainable overcoming of the 50’000 mark fails The reporting week initially began promisingly, however, a selling wave that began on Tuesday put an abrupt end to the dreams of the bulls. At the close of the previous week on Sunday at $51’800, trading above the $50’000 mark was registered for the first time in 113 days. Accordingly, the trend of rising prices, which had its origin in the previous reporting week, was continued on Monday and reached another daily high of $52’698. Tuesday then turned out to be a difficult day.…

SIX Digital Exchange (SDX) has formally received the green light from the FINMA to operate an exchange and central securities depository for digital assets in Switzerland. With these licenses, the SIX platform now offers the highest Swiss regulatory standards. Specifically, FINMA has granted SIX Digital Exchange Ltd a license to operate as a central securities depository and its affiliate SDX Trading Ltd a license to operate as an exchange. This is the first time in the Swiss financial center that a license has been granted for infrastructures that enable the trading of digital securities in the form of tokens and…

US crypto exchange Coinbase has been warned by the Securities and Exchange Commission (SEC) about launching a product that pays customers interest on their crypto holdings through the use of DeFi protocols. According to the agency, this should be classified as a security. Coinbase intended to launch a yield product that would have gone live in a few weeks. As in traditional finance, users would receive interest on selected digital assets. After the company proactively reached out to the Securities and Exchange Commission (SEC), the SEC responded that such a product would be classified as an unregistered security. The SEC…

The month of August was as volatile as it was pivotal for cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others. Mid-cap altcoins exploded in value, helping to keep more important cryptocurrencies like BTC and ETH afloat at local highs and above support. A fall into a bear market following one of the worst quarterly selloffs on record might have been narrowly prevented, and a reversal back into a bull market is still in the cards considering that a lower low was never put in on Bitcoin. The total cryptocurrency market has reentered the bull zone on the RSI, but the market…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Layer 1 tokens and the NFT space are dominating the recent altcoin bull run. Volume Dynamics: Despite Binance.US’s fundraising woes, the exchange has gained market share versus Coinbase. Order Book Liquidity: Price slippage fell sharply for ETH-USD pairs over the past year. Derivatives: Funding rates and open interest inched up during the first week of September. Macro…

Bitcoin USD daily Basis Bitcoin USD Chart Analysis – Breaking the 50’000 mark The reporting week was initially characterized by a consolidation phase, which took place just below the significant resistance zone of USD 50’000. A similar picture emerged as in last week’s trading action. On Monday, two trading days that played out in narrow trading ranges just below the 50’000 mark were followed by a correction that led the price back to 47’000 USD. On Tuesday, however, there was no further selling pressure and so the closing price of USD 47’118 was already slightly higher than the previous day.…

Vast Bank is the first state-approved bank in the U.S. to offer the ability to buy, sell and store cryptocurrencies directly from a checking account. Following in the footsteps of big banks like JPMorgan & Co, retail banks are also venturing into the space. Customers of Vast Bank will be able to trade cryptocurrencies directly from an FDIC-insured payment account, according to an announcement. The previously unseen opportunity to buy, sell and hold digital assets within a retail bank has been approved by the Office of the Comptroller of the Curre (OCC) and discussed with the Federal Reserve, Forbes reported.…

With the EIP-1559 upgrade, miners no longer receive the full transaction fees from users – as a portion is burned. Since implementation, over $600 million worth of Ether (ETH) has been destroyed in this way. Investors are hoping this will lead to a deflationary future for Ethereum. The recent upgrade to the Ethereum blockchain included a number of features added to the network’s rulebook. The most long-awaited change was the EIP-1559 upgrade. Its implementation ensures that the network follows a different transaction pricing mechanism that introduces a base fee for each block found on the network. Essentially, the rest of…

The Crypto Valley is known to be one of the most “crypto-friendly” regions in the world. But what specifically is happening within the Blockchain ecosystem? The “Crypto Valley Roundup” aims to provide insight and highlights from selected events every two months. With the first Blockchain companies settling in the area of Zug from 2013 onwards, the term “Crypto Valley” was soon born in reference to the “Silicon Valley”. Thanks to politics and regulation, Switzerland was able to create the necessary legal certainty for a flourishing ecosystem around Blockchain and cryptocurrencies at an early stage. The local regulator has been active…

El Salvador is in for a turbulent few weeks. The country is preparing to become the first to introduce Bitcoin as legal tender on the 7th of September. Salvadorans have had no say in the tender so far, and protests accuse the government of corruption. El Salvador’s Bitcoin law is expected to take effect next week. President Nayib Bukele recently announced that the official wallet will be operational the same day, allowing users to exchange their Bitcoin for dollars and vice versa. Although Bukele wants to bring the benefits of the new asset class to the country, hundreds of protesters…