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Kraken Daily Market Report for May 16 2021

Republished by Plato

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Overview


  • Total spot trading volume at $3.29 billion, 10% higher than the 30-day average of $2.99 billion.
  • Total futures notional at $959.9 million.
  • The top five traded coins were, respectively, Bitcoin (+2.1%), Ethereum (+4.0%), Cardano (+3.4%), Tether (0%), and Dogecoin (+4.2%).
  • Most coins had positive returns, the strongest were from Algorand (+5.3%).

May 16, 2021 
 $3.29B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$47877. 
↑2.1% 
$937.8M
ETH 
$3801.1 
↑4.0% 
$907.8M
ADA 
$2.2616 
↑3.4% 
$378.6M
USDT 
$1.0001 
↓0.03% 
$303.9M
XDG 
$0.5304 
↑4.2% 
$268.3M
XRP 
$1.5758 
↑4.8% 
$170.6M
DOT 
$43.943 
↑0.5% 
$103.7M
USDC 
$0.9999 
↑0.0% 
$63.3M
LTC 
$308.63 
↑2.5% 
$54.0M
XLM 
$0.7149 
↑4.4% 
$52.7M
LINK 
$42.478 
↑2.1% 
$34.9M
BCH 
$1215.0 
↑3.5% 
$29.5M
KSM 
$552.42 
↑0.9% 
$20.5M
EOS 
$10.575 
↑2.8% 
$19.9M
ETC 
$98.616 
↑3.4% 
$17.8M
SC 
$0.0302 
↑3.0% 
$15.6M
TRX 
$0.1255 
↑3.9% 
$14.0M
AAVE 
$530.92 
↑2.4% 
$11.6M
XTZ 
$5.8773 
↑1.4% 
$10.4M
NANO 
$10.985 
↑2.6% 
$10.3M
ATOM 
$25.181 
↑2.6% 
$10.3M
ALGO 
$1.4670 
↑5.3% 
$10.2M
XMR 
$388.15 
↑1.3% 
$9.5M
FIL 
$112.06 
↑1.3% 
$9.38M
FLOW 
$24.779 
↑0.7% 
$9.03M
DAI 
$1.0005 
↑0.05% 
$8.22M
UNI 
$37.892 
↑3.3% 
$7.8M
ZEC 
$278.82 
↑2.6% 
$6.15M
OMG 
$9.6506 
↑2.8% 
$6.08M
YFI 
$67532. 
↑0.5% 
$5.89M
DASH 
$345.63 
↑2.4% 
$5.88M
KAVA 
$5.3180 
↑2.8% 
$4.25M
ICX 
$2.1096 
↑4.4% 
$3.92M
SNX 
$19.817 
↑2.8% 
$3.89M
OXT 
$0.5637 
↑1.4% 
$3.8M
WAVES 
$32.062 
↑2.5% 
$3.51M
CRV 
$3.2670 
↑1.3% 
$3.3M
PAXG 
$1914.1 
↑1.2% 
$3.22M
OCEAN 
$1.1424 
↑2.7% 
$3.15M
QTUM 
$20.196 
↑1.0% 
$3.03M
STORJ 
$1.6935 
↑4.0% 
$3.01M
GRT 
$1.3531 
↑2.2% 
$2.96M
MANA 
$1.2279 
↑1.8% 
$2.86M
BAT 
$1.1705 
↑3.0% 
$2.49M
REPV2 
$35.382 
↑3.2% 
$2.1M
LSK 
$6.5842 
↑0.07% 
$2.05M
COMP 
$718.08 
↑3.8% 
$2.01M
EWT 
$14.475 
↑0.06% 
$1.73M
BAL 
$58.145 
↑2.8% 
$1.7M
REP 
$38.824 
↓0.03% 
$1.57M
KEEP 
$0.5042 
↑2.7% 
$1.56M
KNC 
$2.8835 
↑1.8% 
$1.56M
ANT 
$7.9107 
↑3.2% 
$1.34M
ZRX 
$1.5839 
↑1.6% 
$1.28M
GNO 
$242.46 
↓0.03% 
$836K
MLN 
$100.37 
↓0.8% 
$834K
REN 
$0.8031 
↑3.6% 
$448K
MKR 
$4727.7 
↑2.4% 
$315K
TBTC 
$50202. 
↑1.7% 
$182K



#####################. 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 (May 16 2021)



Figure 2: Mid-size trading assets: (measured in USD) (May 16 2021)



Figure 3: Smallest trading assets: (measured in USD) (May 16 2021)



#####################. 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 (May 16 2021)



.


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

Returns and Volume


Figure 5: Returns of the four highest volume pairs (May 16 2021)


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 (May 16 2021)



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

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (May 16 2021)



###########. 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.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.kraken.com/post/9134/kraken-daily-market-report-for-may-16-2021/

Blockchain

Bitcoin Should Be In Every Portfolio, Says Mexico’s Third Richest Man

Republished by Plato

Published

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The arrival of the death cross does not seem to scare Michael Saylor, who bought $500 million just when this terrifying pattern was forming. But Michael Saylor is not the only one who thinks so. Ricardo Salinas Pliego, the third richest man in Mexico, also believes that Bitcoin is an excellent investment.

During an interview with the director of Blockchain Land, José Rodríguez, Ricardo Salinas Pliego assured that Bitcoin is as solid an investment as gold. He explained that the debate about its nature is not so crucial for those who know its properties.

In my opinion, all the advantages that bitcoin has are enough to make the gold of the modern world … There is no point in discussing whether it is a currency or not.

There Will Be Only 21 Million Bitcoins, And That Is Key to Everything

Ricardo Salinas argues that the fact that Bitcoin is finite, easy to transport, and enjoys extreme liquidity internationally are compelling reasons to consider it as an asset worth taking into account when building an investment portfolio.

In fact, Salinas explains that from his point of view, every investor should own Bitcoin:

Bitcoin is an asset that has international value, which is traded with enormous liquidity worldwide. For that reason, it should be in any portfolio.

Ricardo Salinas is a vocal Bitcoiner. He was one of the first prominent Latin American businessmen to talk about Bitcoin and support it in social networks. He also revealed that 10% of his liquid investment portfolio was held in Bitcoin, which is obviously no small thing considering his fortune.


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But What About Altcoins?

But for now, it seems that Salinas’ relationship with Bitcoin admits no competition. When asked about the potential of Ethereum and other altcoins, Salinas was unconvinced that they can outperform Bitcoin.

Regarding Ethereum, he explained that its weakness lies in its inflationary nature.

The scarcity of Bitcoin, the 21 million, is the key to everything. That is why I mention Ethereum. Because as long as it does not have a finite amount of issuance, I will not believe them because they can issue more, and the asset depreciates.

The issue of the inflationary design of some currencies is of special importance to Ricardo Salinas. Latin American governments have abused the power to artificially issue money, which has damaged the purchasing power of the people in the long run.

Look, I started my professional career in 1981. Back then, the [Mexican] peso was 20 to 1 [dollar]. Today, on the other hand, we are at 20,000 to the dollar. And that’s here, in Mexico, but if we do it in Venezuela, Argentina or Zimbabwe, the figures lose all proportion.

As Bitcoin is a global and finite asset, it is safe from manipulation by any government, group of developers or centralizing power entities.

But there is always a little space for other projects. He said that Monero and Zcash are interesting because of the privacy that they offer.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitcoin-should-be-in-every-portfolio-says-mexico-third-richest-man/

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Blockchain

Bitcoin Mining to Relocate from China to US Amid Crackdown

Bitcoin Mining China US

Rate this post Following the nationwide crackdown on miners, Bitcoin mining operations in China are gearing up to relocate three tons of crypto mining equipment to the US. The new reports emerged just a few weeks after authorities in several provinces ordered power companies to discontinue supply to mining firms. Bitcoin Mining Operations Are Transitioning From China to The US In light of China’s hardening stance on crypto mining, Bitcoin moguls in the country have started to look elsewhere for lucrative opportunities.  The world’s most populous nation banned crypto-related services in May and decided to monitor mining activities more stringently. Critics in China argue that mining operations consume inordinate energy and jeopardize the country’s climate goals in the process.  To date, Xinjiang, Qinghai, and Sichuan have openly prohibited power supply to mining companies. Not surprisingly, Bitcoin’s hash rate fell sharply in the aftermath of these decisions. The ban in Sichuan, in particular, took a toll on daily hash rates.  Some experts believe that China’s anti-mining climate could provide a breakthrough for the US. For years, crypto miners relied on China’s cheap electric supply to carry out their operations. In fact, in 2018, miners in China accounted for the world’s 74%  production of Bitcoin. Now, these ventures are eyeing Texas, South Dakota, or even Canada, triggering a mass transition. The recent relocation of a mining farm from Guangzhou to Maryland is the most visible instance of this mass transition. According to Eunice Yoon, a CNBC representative, the move will see nearly three tons of mining machinery being transported to the United States. Miami Opens Its Doors to Ousted Crypto Miners Meanwhile, Miami is welcoming ousted miners to establish operations in the city. Its current mayor, Francis Suarez, a vocal advocate for cryptocurrencies, has highlighted his support for digital assets on repeated occasions. Suarez has promised several incentives for miners, which include tax concessions, infrastructure incentives, and limited regulations to galvanize investments in the sector. Furthermore, he has guaranteed lower electricity bills for miners, with more than sufficient supply from Miami’s abundant nuclear power. As far as the BTC hash rate is concerned, the current gap between the US and China is significantly wide. However, this gap is expected to begin closing as more mining companies transition to the US.

The post Bitcoin Mining to Relocate from China to US Amid Crackdown appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

Published

on

Table of Contents

Rate this post

Following the nationwide crackdown on miners, Bitcoin mining operations in China are gearing up to relocate three tons of crypto mining equipment to the US. The new reports emerged just a few weeks after authorities in several provinces ordered power companies to discontinue supply to mining firms.

Bitcoin Mining Operations Are Transitioning From China to The US

In light of China’s hardening stance on crypto mining, Bitcoin moguls in the country have started to look elsewhere for lucrative opportunities. 

The world’s most populous nation banned crypto-related services in May and decided to monitor mining activities more stringently. Critics in China argue that mining operations consume inordinate energy and jeopardize the country’s climate goals in the process. 

To date, Xinjiang, Qinghai, and Sichuan have openly prohibited power supply to mining companies. Not surprisingly, Bitcoin’s hash rate fell sharply in the aftermath of these decisions. The ban in Sichuan, in particular, took a toll on daily hash rates. 

Some experts believe that China’s anti-mining climate could provide a breakthrough for the US. For years, crypto miners relied on China’s cheap electric supply to carry out their operations. In fact, in 2018, miners in China accounted for the world’s 74%  production of Bitcoin. Now, these ventures are eyeing Texas, South Dakota, or even Canada, triggering a mass transition.

The recent relocation of a mining farm from Guangzhou to Maryland is the most visible instance of this mass transition. According to Eunice Yoon, a CNBC representative, the move will see nearly three tons of mining machinery being transported to the United States.

Miami Opens Its Doors to Ousted Crypto Miners

Meanwhile, Miami is welcoming ousted miners to establish operations in the city. Its current mayor, Francis Suarez, a vocal advocate for cryptocurrencies, has highlighted his support for digital assets on repeated occasions.

Suarez has promised several incentives for miners, which include tax concessions, infrastructure incentives, and limited regulations to galvanize investments in the sector. Furthermore, he has guaranteed lower electricity bills for miners, with more than sufficient supply from Miami’s abundant nuclear power.

As far as the BTC hash rate is concerned, the current gap between the US and China is significantly wide. However, this gap is expected to begin closing as more mining companies transition to the US.

READ  Blockpass Provides KYC Services for Trading Firm Blitz Network

#Bitcoin In China #China Crypto Mining #Francis Suarez #Miami

Source: https://www.cryptoknowmics.com/news/btc-mining-ops-to-relocate-from-guangzhou-to-maryland-amid-chinese-crackdown/

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Blockchain

MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC

MicroStrategy Bitcoin

Rate this post Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury. Michael Saylor Announces New Bitcoin Purchase For MicroStrategy Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets. In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500.  As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance.  Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000.  MicroStrategy Raised $500M to Procure Its Current BTC Investment Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million.  Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin. Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

The post MicroStrategy Acquires More Bitcoin, Holds More Than 105,000 BTC appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

Published

on

Table of Contents

Rate this post

Business analytics firm MicroStrategy has added more Bitcoin to its balance sheet, taking the company’s collective holdings to a whopping 105,085 BTC. According to an announcement from the firm’s CEO Michael J. Saylor, MicroStrategy spent $489 million to add another 13,005 BTC to its treasury.

Michael Saylor Announces New Bitcoin Purchase For MicroStrategy

Saylor and his company have maintained their belief in Bitcoin’s potential despite the primary crypto’s ongoing price struggles in a volatile market. The company has been pumping the digital asset since last August following the pandemic-induced inflation, which forced investors to seek non-traditional options that safeguard their assets.

In its most recent accumulation effort, MicroStrategy snagged 13,005 BTC for an average price of $37, 617 per token. However, the digital asset has declined sharply in the last few days, and one coin is currently trading for $32,500. 

As part of its announcement, the firm revealed that its recently formed subsidiary MacroStrategy LLC holds 92,079 BTC of its total balance. 

Altogether, the new investment takes MicroStrategy’s combined Bitcoin holdings to a staggering 105,085 coins. At the current spot price, this holding is worth $2.74 billion, with each token amounting to slightly more than $26,000. 

MicroStrategy Raised $500M to Procure Its Current BTC Investment

Earlier this month it was reported that MicroStrategy was offering senior secured notes due in 2028 to raise half a billion dollars in debt. These notes bore an annual interest rate of 6.125%. The company had originally capped the sale at $400 million, but shortly thereafter it boosted its offer by another $100 million. 

Following the sale of its debt offering, the company revealed that it had amassed nearly $489 million, which would be invested in Bitcoin. At the same time, MicroStrategy also announced that it was planning to sell up to $1 billion in stocks and that part of those proceeds would be directed to buying more Bitcoin.

Even before its recent purchase, MicroStrategy owned the largest reserve of the flagship crypto among all publicly traded companies. 

READ  MicroStrategy’s Bitcoin Stack Up: Brilliant Moves or Risk?

#Bitcoin #CEO Michael Saylor #MicroStrategy #MicroStrategy BTC Investment

Source: https://www.cryptoknowmics.com/news/microstrategy-acquires-more-bitcoin-holds-more-than-105000-btc/

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