Binance Is Surpassing Huobi Exchange Volume in China: New TokenAnalyst Report

  • Token Analyst recently reported on BTC transactions between exchanges this year.
  • The data revealed that more transactions exist from Binance to Huobi than vice versa.

One of the most popular and well-known cryptocurrency exchanges is Binance, and they’ve remained highly active this year with their volume and work on the expansion. The exchange, based in Malta, has been looking into potentially trading on other trading markets, coinciding with the efforts of the exchange to create a solid place in the industry.

China has seen a lot of activity in the cryptocurrency industry recently, and it seemingly has increased demand for cryptocurrency, based on reports from Token Analyst. In the report, the researchers found that a major portion of the cryptocurrency volumes had moved from Huobi wallets to Binance. Of those exchanges, 259,000 BTC was moved through 48,000 transactions. On average, a transaction was worth approximately 5.4 BTC.

The Huobi exchange was founded in China, and it predominantly serves the Asian market. With the massive outflow to Binance, it is possible that the exchange is losing a lot of their outflow in the Chinese market, which is instead moving to Binance.

Despite this movement, the second-largest “interflow” involved transactions from Binance to Huobi. With over 44,000 transactions, 137,000 BTC was transferred. Since there is an apparent reverse movement of Bitcoin, the report implies that Huobi is still maintaining some kind of hold on the Asian market. Huobi has announced recently that their exchange has major expansion plans to involve smartphones, hoping to secure some of the OTC markets.

Binance has a clear advantage over the Singapore-based exchange, based on the data shown in the report. With more BTC leaving Binance and reaching OTC exchanges and institutional platforms, there could be more movement to come, and Binance’s stronghold in the global cryptocurrency market isn’t likely to loosen anytime soon. Still, domestic exchanges have been banned in China for quite some time, and investors have been limited in their global exchange options for trading.

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Author: Krystle M

Ripple SWELL 2019 Update: Economist Dr. Raghuram Rajan Talks Blockchain Financial Inclusion

Dr Raghuram Rajan, economist and financial analyst, took the stage at the Swell 2019 conference this month that was held in Singapore. During his talk, Rajan, explained the importance of blockchain technology in the financial sector and how it’s poised to revolutionize businesses around the world.

One specific note of Rajan’s talk was the application of blockchain tech in the existing financial system as well as the impact that globalization will have on world markets.

“We are due for stronger productivity,” began Rajan.

“Tech innovation doesn’t always translate to actual productivity growth. For corporations to really learn how to use emerging technology, they need to reinvent the system. Once this is managed, we will see the pace of growth increase—not the moderate growth we see today.”

The power of banking establishments were also highlighted as a potential problem by Rajan. He stated that these centralized institutions create “fear and fury” amongst the populace, while decentralized blockchain solutions can be used to help bridge this gap of fear.

“At an abstract level, what we see today is increased fear and fury at centralized banks. Across the world, there is a break down in globalization and a worry from businesses about adhering to rules, set by another country. The answer is more decentralized solutions, like blockchain technology—that people trust,”

said Dr. Rajan.

The topic of micropayments was brought up by Rajan as a possible area for disruption by blockchain and cryptocurrency technology.

“We’re going to see intermediaries negotiate for payments with information. If data belongs to the individual then it can be exchanged through micropayments and doesn’t become a source of monopoly. In this way, decentralization disperses trust and power, and ultimately breaks up monopolies.”

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Author: Matthew North

No “Swell Pump” This Year? Analyst Scraps his Swell Driven XRP Price Prediction

  • “Maybe next swell”: Analyst and trader on XRP’s 4000 sat price prediction

There is now less than a week left in the much anticipated Swell event of Ripple, to be held from November 7 – 8 in Singapore.

As we previously reported, analysts have been predicting the third largest cryptocurrency XRP to start surging two weeks ahead of the Swell event. And that came and went last month and there is nothing yet.

XRP is currently trading below $0.3 at $0.294, up 1.97%, as per Coincodex. However, it is still down 34.49% in the past year in the USD market while in the negative by over 55% in the BTC market.

And this lack of movement in XRP price has once such bullish analyst not so bullish anymore.

Analyst and trader Luke Martin started a thread on XRP price in late September when it was trading around $0.238 level when he stated, “XRP is forming a rounded bottom.”

XRP was actually his “favorite major alt chart for October,” and he predicted the SWELL narrative to be a positive force for the digital asset for the next 30 days that would take it to the 4000 sat zone.

In mid-October, XRP was the “strongest major” when its price went from $0.265 to $0.304.

On Oct. 24, the day the bull run was supposed to happen, Martin wrote this, “14 days until the conference and my outlook remains that we see the full 30% to 4000 sats. Anything past that would be bonus.”

But when it didn’t materialize, he flipped on his projection commenting “maybe next swell.”

And for the fact that XRP has been up in USD, Martin says “if something is underperforming Bitcoin, yet up in USD, it’s a better use of capital to be in Bitcoin.”

“If something is outperforming bitcoin…then it will be doing better vs USD than bitcoin,” he added.

However, not everyone has lost their hopes yet. Meanwhile, some are glad for the lack of pump as no pump means no dump after the event.

The last two times in 2017 and 2018, XRP price surged 115% and 220% two weeks before the event only to drop 43% and 51% respectively after the Swell.

Now, it’s to be seen if XRP will finally pump or if it will be no Swell Pump this time. There was also a big movement from the Ripple escrow wallet of 1 billion XRP being unlocked.

Also be sure to check out the most recent video from the Ripple community:

“}” data-sheets-userformat=”{“2″:13057,”3”:{“1″:0},”11″:3,”12″:0,”15″:”Open Sans”,”16″:11}”>Latest Ripple News and XRP Market Updates

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Author: AnTy