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What is Bitcoin? | A Beginner’s Guide

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If you’re someone who is looking to learn more about Bitcoin but is unsure where to start, this page is for you. In our comprehensive guide to Bitcoin, we’ll give you all the information you need to know to start investing in Bitcoin, while addressing any potential questions you may have along the way. Topics to be covered in this article include:

By the end of this guide, you’ll feel more-than-prepared to jump into the exciting world of Bitcoin. Let’s get started!

Bitcoin is the world’s first cryptocurrency. A cryptocurrency, otherwise known as a virtual currency, is simply an encrypted piece of data that can be used to buy goods and services. Bitcoins are not something that can be touched physically, instead they are bits of code that exist only in the digital realm.

Created in the wake of the 2008 financial crisis, Bitcoin was designed to provide an alternative to traditional currencies and financial institutions. What makes Bitcoin different from previous attempts at digital currencies — and consequently so valuable — is the ingenious network and security systems on which the platform is built.

Bitcoin is different in several ways:

  • Bitcoin is Decentralized – Bitcoin has no central issuing authority. In other words, no single entity controls the supply of Bitcoin in circulation. The value of your Bitcoin will never be jeopardized by the decisions of bank higher-ups or The Federal Reserve. Instead, Bitcoin is controlled entirely by its users. Even the network on which Bitcoin runs is peer-to-peer and community-managed.
  • Bitcoin Allows for Direct Transactions – Bitcoin transactions require no intermediaries. If you want to pay me with Bitcoin in exchange for a good or service, you pay me directly and no one else is involved. This comes with several benefits including increased anonymity and security.
  • Bitcoin Offers Relative Anonymity – Bitcoin transactions are carried out using randomly generated alphanumeric addresses and keys which are not traceable to your identity. We’ll get into more of the specifics of How Bitcoin Transactions Work in a later section of the guide.

The Blockchain: Decentralized Record-Keeping

Bitcoin works because of a brilliant piece of technology called the blockchain. The blockchain is a public ledger that records any and all Bitcoin transactions. The ledger is maintained by a peer-to-peer network of nodes running Bitcoin software. As Bitcoin transactions occur, they are combined in a group with other transactions into a unit called a “block”. The blocks are processed, verified, and added to the blockchain using advanced cryptographic methods that are extremely secure and resistant to data modification.

Once they are added to the chain, the blocks are broadcast to other nodes in the network. Each node maintains its own copy of the blockchain and verifies each transaction along the way. The chain is unalterable and available to everyone, making fraud a near-impossibility.

Mining

The actual processing carried out by these nodes is called “mining”. Volunteers, known as miners, use extremely high powered computers to verify incoming transactions, collect them into blocks, and add them to the blockchain.

In order to be accepted by the network, each block requires what’s called a proof-of-work. Miners are essentially given an extremely difficult puzzle with a single numeric answer. The answer could be any number and the puzzles get more and more difficult as time goes on.

There is no specific system to determine the answer, so miners simply have to use extremely powerful computers to guess, one-by-one, until they find the correct value.

On average, the number of guesses computers make before finding the correct answer is upwards of 200.5 QUINTILLION. This is an incredibly time and energy intensive process, even for the most powerful computers.

So why do Bitcoin miners bother spending all this time and energy trying to add blocks to the blockchain? It’s pretty simple; miners are rewarded with new Bitcoin for every block they successfully add. As of right now, the reward for adding a single block to the blockchain is 12.5 Bitcoins (~$137,000 at the time of writing). This incentivizes the miners to carry out the heavy-lifting which keeps the Bitcoin network running smoothly.

Clearly there is a lot of money to be made in the mining process. That being said, it requires a truly extraordinary amount of computing power to be able to compete with the biggest mining organizations, and is therefore not pursued by the average Bitcoin user.

A look inside one of the world's largest Bitcoin mining operations.

A look inside one of the world’s largest Bitcoin mining operations. – Al Jazeera

Now that you have a solid understanding of what Bitcoin is and how the technology works, it’s time to tell you how you go about buying and storing it. In short, you buy from Bitcoin Exchanges, and you store with Bitcoin Wallets.

Bitcoin Exchanges

The easiest way to buy Bitcoin is on a Bitcoin exchange. Bitcoin exchanges are platforms on which you can buy, sell, or trade Bitcoin in exchange for traditional currencies or other cryptocurrencies. There are dozens of cryptocurrency exchanges out there and users should conduct a reasonable amount of research before choosing which one is best for them.

Here’s a quick breakdown of our top exchange recommendations:

  • Coinbase – One of the oldest and most trusted exchanges, Coinbase is an all-around excellent platform, particularly if you’re new to cryptocurrency. Its website is slick and intuitive, making it incredibly easy to buy 4 of the most popular cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Coinbase also offers very flexible payment options and charges low fees compared to many other exchanges. Users can purchase the above cryptos using credit cards, debit cards, and bank transfers.

Coinbase Buy Bitcoin

  • Gemini – Founded in New York in 2015, Gemini is a relatively young exchange but has quickly garnered a reputation for itself as one of the best. It offers some more sophisticated trading technology compared to Coinbase but still remains pretty user-friendly. One of Gemini’s big selling points is its very low fees, averaging around 0.25% or less. Gemini allows users to buy either Bitcoin or Ether using ACH bank transfers and bank wires. Credit and debit cards are not supported.
  • GDAX – GDAX is another excellent option for more sophisticated cryptocurrency trading. Owned by the same company as Coinbase, the platform is extremely secure and has a solid industry reputation. Like Gemini, GDAX charges low fees averaging around 0.25% or less and accepts ACH bank transfers or bank wires.

For a more in-depth look at the various Bitcoin exchanges, take a look at our guide to the Best Bitcoin, Ethereum, and Altcoin Exchanges.

But there’s one more important thing to consider before buying Bitcoin or any other cryptocurrency: how are you going to store it?

A Bitcoin wallet is essentially a safe for your Bitcoin; it’s a secure place to keep your virtual currency in-between transactions. Your wallet does not literally store your Bitcoin inside it. Rather, your wallet stores the mathematical keys and addresses that allow you to spend and receive your Bitcoin.

Private Keys and Bitcoin Addresses

Your private key is a random string of alphanumeric characters stored in your Bitcoin wallet that’s used to sign the transactions you send. Think of it is a password that allows you to send your Bitcoin.

As the name suggests, it’s extremely important to keep your private key secret. Anyone with knowledge of your private key would be able to send your Bitcoin wherever they pleased. Protecting your private key is the primary purpose of a Bitcoin wallet.

Bitcoin wallets also store your Bitcoin addresses. A Bitcoin address is another long string of alphanumeric characters but is used for receiving Bitcoin rather than sending it. Your Bitcoin address is cryptographically derived from your private key, and any Bitcoin sent to your address is only accessible by a wallet containing your private key.

While addresses are related to your private key, there is no way to determine your private key simply by looking at the address. This means that it is completely safe to tell others your Bitcoin address. In fact, it’s a necessary step for someone to send you Bitcoin.

Wallet Types

Now that we understand what Bitcoin wallets do, we can talk about choosing the one that’s right for you. Generally speaking, security is the most important consideration when choosing a Bitcoin wallet. That being said, other factors like ease of access and convenience are also worth thinking about.

Here’s a quick rundown of the 5 different types of wallets:

  • Online – Online wallets are accessible through a web browser. The main advantage of online wallets is that you can easily access them anywhere with an internet connection. The major downside is that your private keys are stored on the website’s servers, which means you have to trust them completely to protect your Bitcoin. We recommend only storing small amounts of Bitcoin on online wallets.
  • Desktop – Desktop wallets are software programs that you install onto your computer which store your private keys. These wallets are typically more secure than web-based ones because your keys are not stored online. That being said, your computer is still susceptible to viruses or other malware that might have the potential to steal your Bitcoin, so they still are not ideal for large amounts of Bitcoin.
  • Mobile – Mobile wallets are apps installed onto your phone or tablet. There are two categories of mobile wallets: either they store your private keys locally on the device (similar to a desktop wallet) or they store your private keys online (like a web-based wallet). Mobile wallets offer the convenience of being able to use your Bitcoin on the go, but they also suffer from the same security risks as online or desktop wallets.
  • Hardware – Hardware wallets are physical devices that store your private keys offline in “cold storage”. Most of these devices are small and plug into your computer via USB whenever you need to access your Bitcoin. These hardware devices are immune to viruses and are generally considered to be the most secure wallets available. The only real downside of hardware wallets is that you have to pay for the physical hardware, though recent wallets like the Ledger Nano S are very affordable.
  • Paper – Finally, paper wallets are an alternative method of offline cold storage. They are physical pieces of paper with your public and private keys written on them. Paper wallets are generally inferior to hardware wallets, as they are both less convenient and less secure.
Hardware Wallets Trezor, Ledger, KeepKey

Hardware Wallets Trezor, Ledger Nano S, KeepKey

For a more in-depth description of the different types of wallets available, check out our guide to the Best Bitcoin Wallets.

Once you’ve gotten your wallet set up and your Bitcoin safely stored, you’re prepared to start making transactions with Bitcoin. If all of this seemed complicated, don’t worry. Actually using Bitcoin is quite simple.

The vast majority of Bitcoin transactions happen online. Paying with Bitcoin online is as simple as entering the seller’s address as well as the amount of Bitcoin you are sending. Receiving Bitcoin is similarly painless. Simply give the other party your address and they can send you the agreed-upon amount.

Bitcoin is also becoming increasingly accepted as a payment option in brick and mortar stores. This generally requires using a wallet with a mobile app to send Bitcoin to the store’s address. Stores that accept Bitcoin will often have a QR code that you can scan as a quick and easy way to pay using Bitcoin.

One important detail to note is that all Bitcoin transactions are final. If you want a refund for a purchase you made using Bitcoin, you’re out of luck.

  • Security – As a result of the blockchain and the advanced cryptography used in the transaction process, the Bitcoin system is very secure. The relative anonymity offered by Bitcoin is an additional security bonus as it makes problems like identity theft impossible.
  • Decentralization – As mentioned early on in the article, Bitcoin is totally decentralized and is therefore not subject to the whims of politicians and bank executives.
  • Internationality Bitcoin is a truly international currency. Making international transactions with Bitcoin is incredibly easy, and cryptocurrencies like Bitcoin could become increasingly valuable as we continue moving toward a more globalized economy.
  • Bitcoin may be the future – Cryptocurrency is growing at a truly unprecedented rate. Many influential people in the tech and finance world have heralded it as the coming of a new age. Its future remains uncertain but Bitcoin could be a real game-changer.
  • Market share – Bitcoin has a huge share of the cryptocurrency market. It was the first cryptocurrency and it has by far the most name-recognition among people not-yet-involved in the cryptocurrency world, making it the undeniable top-dog. If you’re going to invest in any cryptocurrency, Bitcoin is the most obvious choice.

  • Volatility – Bitcoin has famously experienced some extremely dramatic swings in value over the course of its lifetime. Overall the value has grown unbelievably, but there still remains some fear that Bitcoin is a bubble waiting to burst. Even if it isn’t, Bitcoin’s value fluctuates 5% or more on most days. Obviously the trend has been upward so far and there’s reason to be optimistic about the future, but the ride will probably be a bumpy one. As with many other types of investments, only invest what you can afford to lose.  
  • Legal uncertainty – Bitcoin’s legal and regulatory status in many countries remains pretty up in the air.
  • Limited retail options – While the list of retailers that accept Bitcoin is consistently growing, businesses have been fairly slow to adopt the technology. This should theoretically become less of an issue as Bitcoin becomes better-established.
  • Scams and Hacks – Scams are commonplace in the cryptocurrency world. Ponzi schemes promising unbelievable GUARANTEED returns have tempted many people, and have resulted in the loss of a lot of money. Just remember: if it sounds too good to be true, it probably is. Hacks are less common but are still a concern. Some well-known exchanges have been hacked over the course of Bitcoin’s lifetime, and stolen money can be difficult or impossible to get back. That being said, modern exchanges have learned from the failures of their predecessors and are more secure than ever before.
  • Possibly inferior to other cryptos – Finally, in spite of its status as the most valuable cryptocurrency in the world, many would argue that Bitcoin is inferior to other cryptocurrencies. Its decentralized nature means that Bitcoin is very slow-moving. There is no central organization behind it to help it adapt and make changes. Instead, any restructuring of the network or the system requires majority consensus of the miners. Other cryptos use newer technology and might benefit from having more centralized models. Bitcoin led the world into the cryptocurrency revolution, but it’s possible that it may not be the coin to deliver on the concept’s full potential.

Summary

Bitcoin used the innovative technology of the blockchain to completely reimagine what financial systems look like. No longer do people have to rely on banks or credit unions to store and protect their money. Instead, Bitcoin offers its users unprecedented control of their funds in a format that is secure, convenient, and confidential.

The technology is still very new and not without its problems. That being said, most of the disadvantages described above simply stem from how revolutionary Bitcoin is. Many issues like the constant value fluctuations, legal uncertainty, and limited retail options should become less problematic as Bitcoin becomes better-established.

All this gives reason to think that Bitcoin’s future is looking bright.

Source: https://unhashed.com/cryptocurrency-coin-guides/bitcoin/

Blockchain

How NFTs, DeFi and Web 3.0 are intertwined

Republished by Plato

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While blockchain itself provides the technology constructs to facilitate exchange, ownership and trust in the network, it is in the digitization of value elements where asset tokenization is essential. Tokenization is the process of converting the assets and rights to a property into a digital representation, or token, on a blockchain network. 

Distinguishing between cryptocurrency and tokenized assets is important in understanding exchange vehicles, valuation models and fungibility across the various value networks that are emerging and posing interoperability challenges. These are not just technical challenges, but also business challenges around equitable swaps.

Asset tokenization can lead to the creation of a business model that fuels fractional ownership, the ability to own an instance of a large asset. While discussing asset tokenization in a previous article, I also mentioned the value of an instance economy in democratizing finance, commerce and global access, as well as in creating a broader global marketplace at a scale never before seen.

With digital assets and their fungibility in a blockchain ecosystem, there are various drivers of valuation. These include: 1) tokens based on crypto economic models that are driven by supply and demand, and the utility of the network; 2) nonfungible tokens, or NFTs, which have an intrinsic value such as identification, diplomas and healthcare records — essentially, tokens that are simple proof validations of the existence, authenticity and ownership of digital assets; and 3) fungible tokens that are valued on various bases, such as the sum total of economic activity in the network (cryptocurrency), its utility (smart contracts and transaction network processing), assigned values (stable coins and security tokens), and so on.

In this article, I address the complex issue of the hyperbolic and rapid rise of NFTs, after a similarly meteoric rise of decentralized finance, or DeFi, creating amazing innovations — with immense promise of democratization, new business models and global marketplaces with global access — all fueled by the basic premise of decentralization and fundamental constructs of tokenization and wallets. While NFTs may be characterized as one-of-a-kind cryptographic tokens with some intrinsic value to a holder or to a market (art, collectibles), the NFT movement is indicative of a larger token revolution that will not only fuel massive innovation and growth in Web 3.0 protocols but also test the resolve of the DeFi movement, along with its ability to intersect and provide platforms and an exchange vehicle for all token types.

Growth in Web 3.0 protocols

The first two generations of web protocols were largely about disseminating information and connecting people. They fueled a massive growth in information and collaboration, and did wonders for connecting the world. However, those web protocols were never designed to move things of value. Also, as the Web 2.0 era reached its fullest potential, vulnerabilities such as “fake news” and the “batched relay” of the movement of assets via a series of intermediaries emerged. Threats to the commerce and financial infrastructure of the system risk destabilizing it.

Web 3.0 promises to safeguard all things we value: information, truth and digital assets — both fungible and nonfungible. Whereas Web 2.0 was driven by the advent of social, mobile and the cloud, Web 3.0 is largely built on three new layers of technological innovation: edge computing, decentralized data networks and artificial intelligence.

The growth of NFTs has not only empowered the ability for artists, skilled professionals and entrepreneurs to encapsulate innovation in a tokenized form but has also fueled the democratization of the platform as one of the promises of blockchain technology. The underlying infrastructure includes decentralized storage technologies, efficient consensus protocols, off-chain computing, and oracle networks to provide connectivity and validation to existing systems.

Collectively, the Web 3.0 set of technologies envisions a connected, trustless, accountable network for efficiently delivering value, thus crafting an infrastructure for things of worth. NFTs represent both transferable entities and nontransferable tokens that we value. The latter include things such as our identification, healthcare records and passports, things that represent us and allow us to participate in the digital economy with our own unique, digital identities.

As we dare to envision a shift toward a world with decentralized control, governance based on distributed technology that challenges every business model, and governance structure built upon centralized business frameworks, we do have to ponder some things. Not only the shift itself, but the motivation, incentive and monetization elements that fuel and power the economic infrastructure to move things that have value — thereby keeping up with our changing perception and subsequent realization of that value.

Intersecting with finance — DeFi

DeFi is the movement in the blockchain applications space that leverages decentralized network technology to disrupt and force a transformation of old financial products into trustless, transparent protocols, facilitating digital value creation and dissemination with few to no intermediaries. It is widely understood and accepted that — due to new synergies and co-creation via new digital interactions and value-exchange mechanisms — blockchain technology lays the foundation for a trusted digital transactional network that, as a disintermediated platform, fuels the growth of marketplaces and secondary markets.

While DeFi aims to deliver the promise of finance democratization, NFTs test the resolve of DeFi by delivering a competitive yet inclusive asset class, plus avenues to provide a medium of exchange, fungibility by other fungible asset classes, and liquidity to a traditionally illiquid market.

Asset classes resulting from DeFi protocols and NFTs avail themselves of the advantages of fractional ownership of the assets, blurring the lines between asset classes and using constructs like digital wallets as a receptacle for them. This is all supported by underlying layers of Web 3.0 that provide security and availability via decentralization, as well as trust and immutability via consensus, extending these principles to basic computer infrastructure like storage and interconnect.

Commercialization of Web 3.0 protocols, which manifest as fungible utility tokens, further blurs the lines with diverse financial innovation products introduced by DeFi (such as base assets and derivatives), products that are also tokenized. So, while decentralization is the underlying theme — and the wallet and the token are fundamental constructs — these blurring lines are quite profound.

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.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Nitin Gaur is the founder and director of IBM Digital Asset Labs, where he devises industry standards and use cases and works toward making blockchain for the enterprise a reality. He previously served as chief technology officer of IBM World Wire and of IBM Mobile Payments and Enterprise Mobile Solutions, and he founded IBM Blockchain Labs where he led the effort in establishing the blockchain practice for the enterprise. Nitin is also an IBM Distinguished Engineer and an IBM Master Inventor with a rich patent portfolio. Additionally, he serves as research and portfolio manager for Portal Asset Management, a multi-manager fund specializing in digital assets and DeFi investment strategies.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/how-nfts-defi-and-web-3-0-are-intertwined

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Blockchain

Has the rally ended for altcoins like LINK, ADA, and NPXS?

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With most altcoins rallying at the current point in the market cycle where Bitcoin is making a comeback, there are a few altcoins that may have ended their price rally. Among these, LINK ranks in the top 10 cryptocurrencies based on market capitalization.

LINK’s oracles may have filled the void left from the removal of XRP from Grayscale’s fund. However, that does not seem to have had an impact that would last long enough to boost the price on spot exchanges. The asset is currently trading at the $32 level, down from its ATH. Though there is anticipation that the price will rally to its ATH, the dropping trade volume across exchanges signals otherwise.

After being added to Grayscale’s fund, LINK’s price went up steadily, however, a boost from institutional demand may not be enough to boost the asset’s price. 93% HODLers are profitable before the asset takes a dip in the current cycle

The altcoin rally may have ended for LINK, ADA and NPXS

Grayscale LINK Holdings || Source: Bybt

LINK’s institutional demand has had only a partial impact on price, and the trend reversal depends on the HODLers profitability at the current price level and the rally of altcoins led by ETH. Historically, Bitcoin’s rally has had a negative impact on LINK’s price and that remains to be seen as Bitcoin traders above $60000 once again this weekend.

Another top altcoin, Cardano has offered HODLers an ROI of over 440% in 2020. This altcoin has been considered to be the one to HODL in the long term based on on-chain analysis and trader sentiments. In the current cycle, 65% HODLers are profitable at the price level of $1.23. This is one of the top altcoins in which the concentration by large holders is low, below 50%, currently at 24%.

Additionally, at this point in the rally, there is a significant drop in ADA’s trade volume across exchanges. This drop in liquidity may lead to a drop in price over the following week. Though large transactions in the past week have been above $30 Billion, the volume is dropping consistently.

The altcoin rally may have ended for LINK, ADA and NPXS

ADA price chart || Source: Messari

Unlike ADA and LINK, in the case of NPXS, the price is back to the same level as a month ago. The 24-hour trade volume has taken a plunge with a near 100% drop in 24 hours, and this is a unique position in NPXS’s price cycle. Moreover, the on-chain sentiment is bearish and this may be the ideal time to buy altcoins like these that are consolidating. The confidence is consistently high in top markets on spot exchanges, and the dropping trade volume is a sign of consolidation.


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Source: https://ambcrypto.com/has-the-rally-ended-for-altcoins-like-link-ada-and-npxs

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Blockchain

Kraken Daily Market Report for April 09 2021

Republished by Plato

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Overview


  • Total spot trading volume at $1.02 billion, down from the 30-day average of $1.34 billion.
  • Total futures notional at $417.0 million.
  • The top five traded coins were, respectively, Bitcoin, Tether, Ethereum, Ripple, and Polkadot.
  • Strong returns from Waves (+23%), Basic Attention Token (+17%), Keep (+13%), and Filecoin (+12%).

April 09, 2021 
 $1.02B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$57928. 
↓0.21% 
$379.8M
USDT 
$0.9996 
↓0.02% 
$197.7M
ETH 
$2060.0 
↓1.0% 
$115.3M
XRP 
$1.0285 
↓2.9% 
$70.9M
DOT 
$40.512 
↓2.1% 
$27.6M
ADA 
$1.2002 
↓1.6% 
$24.8M
WAVES 
$16.972 
↑23% 
$20.9M
USDC 
$1.0000 
↑0.02% 
$20.8M
FIL 
$173.42 
↑12% 
$20.7M
LTC 
$219.62 
↓3.0% 
$16.3M
XTZ 
$6.6226 
↑7.5% 
$13.4M
LINK 
$31.279 
↓4.6% 
$12.5M
BAT 
$1.5112 
↑17% 
$11.8M
TRX 
$0.1153 
↓6.5% 
$11.7M
SC 
$0.0296 
↑0.6% 
$10.9M
MANA 
$1.0222 
↑2.9% 
$10.6M
XMR 
$275.91 
↑2.1% 
$9.67M
BCH 
$630.11 
↓2.1% 
$7.69M
XDG 
$0.0611 
↓1.1% 
$7.48M
XLM 
$0.4833 
↓4.4% 
$7.44M
OMG 
$10.224 
↑0.04% 
$7.33M
KSM 
$448.87 
↓2.6% 
$7.11M
EOS 
$6.1909 
↓4.1% 
$6.45M
ALGO 
$1.3699 
↑1.3% 
$6.04M
STORJ 
$2.5171 
↓3.8% 
$5.37M
ATOM 
$20.952 
↑2.0% 
$4.96M
FLOW 
$35.168 
↓0.5% 
$4.69M
UNI 
$29.463 
↓2.5% 
$4.36M
NANO 
$5.6553 
↓0.07% 
$3.24M
QTUM 
$15.518 
↓7.3% 
$3.24M
KEEP 
$0.7752 
↑13% 
$3.09M
ZEC 
$192.44 
↑4.2% 
$2.58M
OCEAN 
$1.7433 
↓4.4% 
$2.54M
ICX 
$2.6261 
↑5.7% 
$2.36M
LSK 
$7.0662 
↑2.8% 
$2.36M
KAVA 
$6.9189 
↓4.9% 
$2.33M
OXT 
$0.8013 
↑1.0% 
$2.17M
DASH 
$264.69 
↓1.1% 
$2.14M
CRV 
$2.9409 
↓4.2% 
$1.96M
DAI 
$1.0001 
↓0.01% 
$1.95M
COMP 
$451.87 
↓0.8% 
$1.89M
YFI 
$45278. 
↓4.2% 
$1.66M
GRT 
$1.7240 
↓1.7% 
$1.64M
REP 
$55.361 
↑9.9% 
$1.56M
ANT 
$12.048 
↓0.6% 
$1.5M
AAVE 
$358.40 
↓3.3% 
$1.47M
REPV2 
$55.869 
↑9.2% 
$1.19M
KNC 
$3.3166 
↓0.15% 
$1.15M
SNX 
$19.258 
↓3.3% 
$1.1M
ETC 
$18.662 
↓4.8% 
$875K
EWT 
$17.223 
↓4.9% 
$867K
MLN 
$96.553 
↑5.3% 
$704K
PAXG 
$1747.8 
↓0.9% 
$655K
BAL 
$51.559 
↓4.0% 
$387K
GNO 
$169.66 
↑1.3% 
$134K
TBTC 
$60244. 
↑1.2% 
$26.7K



#####################. 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 (April 10 2021)



Figure 2: Mid-size trading assets: (measured in USD) (April 10 2021)



Figure 3: Smallest trading assets: (measured in USD) (April 10 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 (April 10 2021)



.


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

Returns and Volume


Figure 5: Returns of the four highest volume pairs (April 10 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 (April 10 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. (April 10 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/8593/kraken-daily-market-report-for-april-09-2021/

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