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Deutsche Börse Launches Crypto Trading Platform DBDX for Institutional Investors

Deutsche Börse Launches Crypto Trading Platform DBDX for Institutional InvestorsDeutsche Börse has unveiled its entry into the regulated digital assets market with the introduction of DBDX, a dedicated platform for institutional cryptocurrency trading. Under the leadership of Carl Koelzer, who oversees FX and digital assets, DBDX aims to deliver a secure and transparent trading platform tailored for Europe’s institutional investors. Deutsche Börse Reveals DBDX […]

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Retail Trading Giant Robinhood Rolls Out Crypto App to Customers in the European Union

Retail Trading Giant Robinhood Rolls Out Crypto App to Customers in the European Union

Robinhood is expanding its crypto trading services to the European Union (EU) with the launch of a new app that enables customers in the region to buy and sell 26 cryptocurrencies. In a statement, the retail trading titan says that the Robinhood Crypto app has the lowest cost on average in the EU based on […]

The post Retail Trading Giant Robinhood Rolls Out Crypto App to Customers in the European Union appeared first on The Daily Hodl.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Robinhood crypto trading rises 75% in Nov, CEO tips ‘9 figures’ in revenue

The trading platform posted a sharp rise in monthly crypto trading volumes in November, while CEO Vlad Tenev said he hopes to eventually reel in “nine figures” in annual revenue.

Crypto-friendly trading platform Robinhood has reported a 75% month-on-month increase in digital asset trading volume in November.

In an 8-K filing to the Securities and Exchange Commission on Dec.

The activity however equity trading volumes and options contracts traded were roughly flat in the same month compared to October.

The bumper month marks a reversal for Robinhood, which revealed a 55% decrease in cryptocurrency notional volumes over the year in its Q3 results filing.

As a result, its Q3 revenue came in below analyst estimates for the quarter at $467 million.

Robinhood’s 8-K report showing preliminary operating data for November 2023. Source: SEC

Robinhood could be eyeing a more profitable fourth quarter in light of the recent crypto market rally, which has seen total capitalization surge 40% to $1.6 trillion over the past two months.

Robinhood co-founder and CEO Vlad Tenev told investors in a November earnings call that the platform could eventually reel “nine figures” in annual revenue.

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Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Is Bitcoin overheated? Some believe the answer is hiding in PEPE

Some crypto market observers believe a rush into memecoin token PEPE could herald an impending Bitcoin dump, but not everyone is convinced.

Could Bitcoin (BTC) be headed for an imminent pullback? Some crypto market observers believe the answer could be hiding within the price action of a frog-themed memecoin.

In an Oct. 27 post on X (formerly Twitter), Onchain Capital co-founder and Crypto Banter host Ran Neuner suggested that memecoin Pepe (PEPE) is a strong indicator of overblown crypto market fever.

“If you want to know when a pull back is coming, just watch $PEPE. It’s literally an index for when the market is getting overheated,” said Neuner.

“When people are confident enough to go there and it pumps, that’s your sign to exit. Works every time.”

Pepe recently witnessed a more than 100% gain, growing from $0.00000064 on Oct. 20 to a peak of 0.00000134 on Oct. 27. Around the same time Pepe reached its peak, Bitcoin had already begun sliding downward from a just-attained year high. 

Neuner’s theory has been shared by other crypto traders in the past. On Sept. 23, trader AlexRTB told his 60,000 followers that he had begun using Pepe as a reliable metric for impending short-term declines.

However, the theory also attracts a fair share of skeptics, while the data hasn’t always supported the theory.

Dubai-based trader Reetika told Cointelegraph that Pepe’s recent uptick was largely driven by bullish news regarding changes in the team and the fact that it would be burning additional tokens, and wasn’t necessarily a sign of broader overconfidence in the market.

As comparative data from TradingView shows, the price of Pepe is often tightly correlated with that of Bitcoin, which could make it challenging to use the memecoin as an indicator.

Comparative price action of PEPE vs BTC since the inception of Pepe. Source: TradingView

Reetika, meanwhile, suggested looking at Solana (SOL) as a potentially more reliable predictor.

“SOL has been a very good leading indicator for the moves so far. It has broken out of resistances at least a day before BTC/ETH over this entire move. I've been using it actionably for estimating upside,” she said.

Reetika however clarified that the SOL isn’t a perfect indicator either, but had performed well on the most recent move.

Similarly, market commentator and avid crypto shitposter Poordart, told Cointelegraph that Pepe probably isn’t the best metric from which to gauge the future price action of majors like Bitcoin.

In Poordarts’ view, Pepe is still far too new to the market to have any “real lasting value” as a reliable metric to gauge the price movements of Bitcoin with any significant accuracy.

Magazine: Beyond crypto — Zero-knowledge proofs show potential from voting to finance

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Binance Launches Copy Trading Feature, Allowing Users To Duplicate Strategies of Experienced Traders

Binance Launches Copy Trading Feature, Allowing Users To Duplicate Strategies of Experienced Traders

Binance has rolled out a new “copy trading” feature that gives its users the ability to replicate the strategies employed by top crypto futures traders. “Copy traders” can now mimic the real-time futures trading strategies of “lead traders,” according to a new announcement from the exchange. Copy traders will be able to review the performance […]

The post Binance Launches Copy Trading Feature, Allowing Users To Duplicate Strategies of Experienced Traders appeared first on The Daily Hodl.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

US-Based Crypto Exchange Gemini To Halt Trading Services in European Country of 17,000,000

US-Based Crypto Exchange Gemini To Halt Trading Services in European Country of 17,000,000

US-based crypto exchange Gemini is shutting down its trading operations in the Netherlands, which boasts the sixth-largest economy in the European Union (EU). In a new announcement, the company says that it will stop offering crypto services to the Dutch market on November 17th, due to requirements imposed by the De Nederlandsche Bank (DNB), the […]

The post US-Based Crypto Exchange Gemini To Halt Trading Services in European Country of 17,000,000 appeared first on The Daily Hodl.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Bitcoiner who tried to trade his way to Alaska shares his ‘humbling’ experience

Despite coming up short of his goal, crypto trader Thomas Kralow said the crypto-funded expedition was all about two things: “Bitcoin and happiness.”

A Bitcoin proponent’s recent attempt to crypto trade his way from New York to Alaska has come to a sudden and bitter end — some 900 miles from his final destination. 

Thomas Kralow, a crypto trader and educator recently set himself the daring task of traveling from one side of the United States to the other funded solely by trading crypto.

On Aug. 12, Kralow set out from New York with his assistant Ilya and an initial budget of $5,000 cash.

The pair forked out some cash for a dinged-up Mercedes and set up a Starlink antenna on the back of the vehicle — with fast internet being a requirement for quick trades — leaving them with just $2,500 to trade their way to Alaska.

Unfortunately for Kralow, he never made it to his final destination — with his oil-starved vehicle grinding to a permanent halt in Seattle, just 12 days after starting the journey.

Speaking to Cointelegraph, Kralow shared some details of the trip that didn’t make it into the 6-episode YouTube series where he documented the daily happenings of the crypto-fuelled voyage.

Kralow said that despite the trip being riddled with “insanely scary” lightning storms, wildfires, car troubles, theft, and navigating a constantly changing landscape in a foreign country on a razor-thin budget — the biggest challenge of the entire journey was actually the trading itself.

“We had like $2,500 our initial trading deposit and we had approximately $300 per day in expenses, which means everyday we had to earn like 12 to 14%,” he said.

“Anyone who is into the world of finance would think it's just suicide, which it kind of was. I was very open from the start and I just said, ‘listen, if I blow the account, it's just going to be done.’”

Despite the odds being firmly stacked against him, Kralow explained that it didn’t matter all that much that it was a potential suicide mission. While he admitted that some of the motivation behind the journey was growing his social media following, he said that he only wanted viewers to take away two things.

“It’s all about happiness and Bitcoin.”

“In these videos, I just wanted to show how important it is to lead a fulfilled and grateful life, as well as sharing knowledge about the most incredible industry and asset which is Bitcoin and blockchain.”

Thomas Kralow posing with a Starlink antenna and his Mercedes. Source: Twitter

Kralow, who routinely flaunts his wealth across his various social media channels, described the journey as a “kind of humbling” experience, saying that it helped take him back to his roots and reminded him of growing up in a home that was pretty far from wealthy.

“I just wanted to level with the world basically, go back to where I came from, and really just enjoy it again.”

Notably, Kralow said that the most surprising part of the entire adventure was the level of crypto literacy present in completely unexpected parts of the U.S.

“I met this welder in Louisiana, and we had such a great conversation about the Southern part of the United States and Bitcoin. He was driving a truck and chewing tobacco and spitting on the ground and it really shocked me how well-educated he was on Bitcoin.”

Related: Bitcoin gains legal recognition as digital currency in Shanghai, China

This stood in stark contrast to Kralow’s experience in more tech-savvy parts of the states like Silicon Valley, where he said he expected more knowledge around the concept of Bitcoin and cryptocurrencies.

“And then we meet this other guy who presented as this stereotypically smart, well-dressed person in California, and he knew nothing about crypto or Bitcoin. We were talking about our trip and he just asked us ‘oh, what even is Bitcoin?’”

The next order of business for Kralow after wrapping up the trip was lodging a request with Guiness Book of World Records.

“A lot of people have driven from wherever to wherever, but I’m pretty sure no one has ever driven more than 5,000 miles while surviving only on earnings from trading Bitcoin or crypto.”

Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Crypto bull run: Traders share their plans for the ‘tornado’ to come

Millions of new crypto investors could be experiencing their very first bull run soon, and those who’ve been through it have shared how they plan to tackle it.

With as much as 130 million people introduced to cryptocurrencies since the end of 2021, millions of investors could soon be looking at their first crypto bull run, with some suggesting it could come as early as 2024.

However, unlike the current bear market, a bull market is “unlike anything else you've ever experienced” according to Ben Simpson, founder of education platform Collective Shift.

“It's complete and utter chaos. It's just a tornado.”

In August, Cointelegraph spoke to hedge fund managers, heads of research at digital asset companies, and other crypto traders to understand how they’re preparing for the upcoming bull market and some of the learnings they could pass onto newcomers.

Get in, get out

Simpson said one of the biggest mistakes that new crypto traders make is holding onto their crypto bags too long — most often caused by getting caught up in the euphoria that they could make more.

“My first cycle, I didn't have a plan. I rode it up and rode it all the way down back in 2017.”

Instead, Simpson said it could be helpful for investors and traders to write down a clear investment goal and understand what assets are in their portfolios — with a hard-set sell price for each one.

Setting hard market exits may reduce the possibility of losing on an investment as “once the music stops in a bull market it stops really quickly,” said Simpson.

On the same note, CoinShares head of research James Butterfill told Cointelegraph that dollar-cost averaging — periodic small asset purchases or holdings sales — could mitigate the volatility of cryptocurrencies, whether it's a bull or bear market. 

“Implementing dollar-cost averaging can help lower the average purchase cost and diminish the influence of volatility on one's portfolio,” Butterfill said.

Avoid memecoins

CK Zheng, co-founder and CIO of hedge fund manager ZX Squared Capital recommends investors to look into the more well-established and recognized cryptocurrencies, such as Bitcoin (BTC) and Ether (ETH).

Butterfill argued Bitcoin behaves similarly to other alternative assets and has “remarkable diversification benefits, surpassing assets like gold, commodities or real estate.”

Meanwhile, Deryck Graham, founder of crypto hedge fund Portal AM said to consider balancing investments between speculative and mature cryptocurrencies.

Graham added to break down investment sectors — such as Layer 2’s or the Metaverse — and choose related tokens while avoiding those with “little or no practical use,” namely memecoins.

“Consider tokenomics, dev team track record, whale investors coming in and leaving, community size, market momentum and liquidity,” he added.

Find the theme

Matrixport head of research and Crypto Titans author Markus Thielen told Cointelegraph that Bitcoin has “always hit a new high” in a booming market but added new themes drive new bull markets — supporting the idea of investing in new cryptocurrencies instead of those from the previous bull run.

Related: 2024 could be very bullish for crypto — Here’s why

At the same timeSimpson said having high-conviction investments will help with staying on goal as most will have “no chance” of keeping up with a portfolio of altcoins.

“I spoke to a guy the other day that has 80 altcoins in his portfolio. There's no way an individual investor can stay across and know exactly what 80 different coins are doing at any one time.”

Simpson, Zheng and Graham all warned against overexposure to crypto through taking loans to invest in the market, investing more than a person can afford to lose or trading using leverage.

“A leveraged position can result in a total wipeout of capital when one is least prepared,” Zheng said. “It's important to have the mindset of investment, not speculation.”

Simpson added it’s important to have time away from crypto and watching markets. He advised both trading veterans and newcomers to safeguard their mental health.

“Go for regular walks. Go for a run. Go to the gym. Be a human.”

Magazine: How smart people invest in dumb memecoins — 3-point plan for success

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

Nearly half of crypto copy traders are Gen Z, says Bitget report

Younger investors are more likely to take part in copy trading or social trading and take advice from social media influencers, according to the crypto exchange.

Generation Z crypto investors are more likely to engage in copy trading or social trading — an investment method that involves mirroring the trades of a selected other — according to a report from crypto exchange Bitget.

In an Aug. 3 report on copy trading by Bitget, the firm revealed that out of all of its copy traders, 44% of them were under 25 years of age. This was followed by 25 to 35-year-olds accounting for just under one-third.

The older generation, 35 to 55-year-olds made up of 17% of copy traders, while those over 55 made only 7% of the total.

Bitget’s copy trade user figures show Gen Z and millenials make up the bulk of users. Source: Bitget

Copy trading or social trading has been offered by exchanges in both traditional stocks and crypto. In the crypto space, it is currently offered by exchanges including eToro, Bybit and MEXC, among others.

Users can choose to use an automated tool that essentially copies positions opened and managed by a chosen individual.

Bitget suggested Gen Z's inclination to look to social media influencers for investment decisions could explain their affinity towards copy trading.

A January Forbes Advisor survey said around 80% of Gen Z and millennials took financial advice from social media. Half claimed to have made money from the advice received and YouTube, Reddit and TikTok were the most trusted platforms.

Crypto was found as the most popular investment for Gen Z in a May report from the CFA Institute and the Financial Industry Regulatory Authority (FINRA) Foundation.

44% of United States Gen Z investors started with a crypto investment compared to 35% of millennials. 43% of British and 35% of Canadian Gen Z investors also said crypto was their first investment.

Related: Crypto trader weighs in on possible Bitcoin extinction scenarios

Bitget’s report claimed most of its copy-trading users — nearly a third — were Western European but nearly half hailed from either East or Southeast Asia, its next two largest geographic segments.

Bitget’s copy traders by region show Latin Americans were the fourth largest group. Source: Bitget

Despite making up 1% of Bitget’s global copy traders 62% of African users were interested in copy trading — the highest proportion of any region.

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Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin

CEX trading volumes fell to 4-year lows even before Binance, Coinbase suits

Monthly trading volumes on centralized exchanges continued to fall in May as regulators tighten their grip on the industry.

Trading volumes on centralized exchanges have fallen to their lowest levels in more than four years amid mounting regulatory pressure from United States regulators and lawmakers.

According to a June 7 report from crypto analytics firm CCData, combined spot and derivatives trading volume in May fell 15.7% from the previous month, marking the second consecutive month of dwindling crypto trading activity.

As the data is only current to the end of May, it does not take into account any potential impact from the recent SEC lawsuits against Coinbase or Binance.

Total monthly spot trading volume on centralized exchanges since May 2022. Source: CCData

CCData shows that of all the major firms to suffer a decline in trading volumes, Binance was hit the hardest.

In May, Binance gave up even more of its total market share, falling to just 43% overall, down from its peak of 57% in February. This marked the third consecutive month that Binance’s total market share declined.

The report said this bulk of this decline can be attributed to Binance removing zero-fee trading for USDT pairs but noted the exchange was no doubt feeling the squeeze of increased scrutiny from regulators in the U.S.

Top centralized exchange market share change March thru May. Source: CCData.

The largest beneficiaries of Binance’s market share slide were crypto exchanges Bullish, Bybit and BitMEX, which each gained a little more than 1% in market share between March and May.

On June 5, the SEC sued Binance and its CEO, Changpeng Zhao, for failing to register as a securities exchange and for offering unregistered securities. Within 24 hours, the net outflows from Binance topped $778 million, though the company has assured the public that their assets remain safe.

In the 48 hours following, the median trading volume across the top three decentralized exchanges (DEX) jumped 444%.

Related: Binance.US coins trade at premium amid litigation fears, fiat gateway issues

Despite overall trading volumes waning — mostly due to spot trading — the market share of derivatives trading across centralized exchanges increased, notching a new record in the process.

According to the report, the derivatives market on centralized exchanges now represents 79.5% of the entire crypto market, a 1.2% increase from 78.3% in April. Still, total derivatives volumes decreased by 14.4% in May.

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Top Analyst Says Blue Chip Ethereum Rival Eyeing Fresh 2024 Highs, Updates Outlook on Bitcoin and Dogecoin