Centralized Exchanges – Page 4

Despite Recent Threats From Canadian Officials, ‘Real Crypto’ or Decentralized Assets Cannot Be Frozen

February 20, 2022 by DIGIT

Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, cannot be frozen directly within the network. However, the Canadian government can flag specific digital … Read more

$1.2B in Ether withdrawn from centralized exchanges in record daily outflow

September 17, 2021 by DIGIT

More than $1 billion worth of Ether has been withdrawn from centralized exchanges within a 24-hour period. It’s the second time this year and the price went vertical last time. Go to Source Powered by WPeMatico

Nigeria’s June P2P Bitcoin Trade Volumes Surged Again Despite Central Bank’s Crypto Restrictions

July 12, 2021 by DIGIT

Nigeria’s peer-to-peer bitcoin trade volumes went up to just under $38 million in June 2021, the latest data shows. This surge becomes only the second time Nigerian P2P traded volumes have breached the $35 million mark in 2021. March 2021 is the only other period when P2P bitcoin traded volumes nearly surpassed the $38 million … Read more

Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector

March 21, 2021 by DIGIT

A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector. Prohibition Only Applies to … Read more

The number of BTC held on exchanges crashed 20% in 12 months

March 8, 2021 by DIGIT

Long-term accumulation and the increasing popularity of DeFi yield protocols is siphoning Bitcoin away from centralized exchanges. Go to Source Powered by WPeMatico

Exchanges running out of ETH with reserves plunging 27% in 48 hours

January 15, 2021 by DIGIT

Analysts predict Ether may soon hit a new all-time high after ETH reserves on centralized exchanges fell by 27% in two days. Go to Source Powered by WPeMatico

Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

November 26, 2020 by DIGIT

A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed exchange rate of $1:380 is robbing recipients 20-30% of their remittance value each time they … Read more

Five mega exchanges hold 10% of Bitcoin’s entire supply

October 15, 2020 by DIGIT

The Bitcoin ecosystem continues to be dominated by a handful of platforms and companies. Go to Source Powered by WPeMatico

Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration

October 14, 2020 by DIGIT

Centralized cryptocurrency exchanges (CEX) operators say they are unfazed by the increasing trading volumes on decentralized exchanges (DEX) because the latter’s liquidity is still too insignificant to cause user mass migration. The majority of CEX operators also insist that it is very unlikely the DEXs’ liquidity would surpass their own liquidity in 2 years’ time. … Read more

Q3 Crypto Volumes up by $155 Billion as Defi Hype Drives DEX Growth by 197%

October 11, 2020 by DIGIT

The latest data from Coingecko shows that the combined trading volumes of cryptocurrency exchanges went up by $155 billion between July and September, from $175.7 billion to $330.6 billion. The new total volume represents a 88% increase which Coingecko attributes to the decentralized finance (defi) hype and yield farming frenzy that peaked in August. In … Read more