Categories
Blockchain News Cryptocurrency News

Global Crypto Conference Available By Livestream January 27 – 29

Co-hosted by Delio, the Global Crypto Assets & Finance Conference 2021, where virtual asset companies from around the world gather to forecast the global virtual asset market in 2021, will be held online for 3 days from the 27th to the 29th.

The ‘Global Crypto Assets & Finance Conference 2021’ is a conference specializing in virtual asset finance in which global virtual asset finance companies such as Korea, the United States, China, Singapore, and the EU participate in the global virtual asset market. It is a place to share key information on the virtual asset financial ecosystem, as well as to discuss the future financial development direction of the virtual asset market to investors.

This conference is expected to hold a general discussion on virtual asset finance such as derivatives trading, Defi, custody, OTC, wallet, mining, traditional finance, investment, law and institution, and is divided into three sessions with in-depth.

The conference begins with congratulatory remarks from the Chairman Kwan-seok Yoon and Rep. Byung-Wook Kim, who initiated and passed the special money law, from the National Policy Committee.

At the session 1 presentation on the first day, Glenn Woo, CEO of APAC at Ledger, Ben Zhou, CEO of Bybit, Daehoon Han, Analyst at SK Securities, Kevin Huang, founder of Cabin VC, and Justin Kang, head of Delio Strategic Marketing, diagnose the trends and implications of the virtual asset industry under the theme of ‘The Current Status and Prospect of the Crypto Asset Financial Market in 2021’.

In the session 2, the topic is ‘Successful Crypto Asset Investment Plan’, starting with Annabelle Huang Vice President of Amber Group, Vice President of Chain-up Jade Chen, Hexlant CEO Jinwoo Ro, Huobi University Dr. Yu Jianing, former head of Huawei’s chief blockchain scientist Ken Huang, Hyun-woo Lee CEO of Xangle, and Seung-hwan Lee of Coinness, will present on the second day.

In the last session, the topic is “Institutions and Regulations Related to Virtual Real Estate”, Deputy Director Lee Hae-Boong of the Financial Supervisory Service will give a presentation on “Recent Regulations Related to Virtual assets.

Next, Samuel Yim from Kim&Chang talks ‘License requirements for virtual asset service providers in 2021’ and Eric Chan, attorney of ShookLin&Bok law firm talks ‘Regulation of cryptocurrency currency in Singapore’, In-Wook Kwon of IW Tax Office said ‘Tax of Investors and Virtual Asset Businesses’, Louise Shen, CEO of Wenergy,’Characteristics and Differences in the Markets of China, Korea and Indonesia’, Liyan Consulting Founder Gu Yan Xi announces ‘merging of the bank and the securities industry’.

This conference is hosted by Delio and the Korea Crypto Finance Association (KCFA) and will be conducted online in consideration of the Corona 19 prevention. Anyone who is interested in the cryptocurrency market, such as virtual asset investors, the general public, institutions, companies, financial investors can watch it through the official Delio YouTube channel without prior registration.

Justin Kang, Head of Strategic Marketing at Delio, said, “In 2021, the domestic virtual asset market is entering into full-scale institutionalization through the implementation of the Special Money Act. “This conference will share the current status of the virtual asset market and key financial issues with domestic and oversea virtual asset finance companies. It will be a meaningful place to present the message.”

In 2020, the Korea Virtual Real Estate Finance Association (KCFA) held a parliamentary seminar for the ‘enactment of a law specializing in virtual assets’ in cooperation with Democratic Party Rep. Kim Byeong-wook in to discuss the necessity of enacting a law specializing in virtual assets for the development of the blockchain industry. He has represented the voice of the industry.

Categories
Bitcoin News Cryptocurrency News

Huobi Global Reports Trading Volume Of $2.3 Trillion In 2020

Huobi futures has noted that in 2020 there has been an impressive $2.3 trillion traded with an average of 6.3 billion per day. Within two years since its launch, Huobi Futures is now the largest cryptocurrency derivatives exchange by trading volume.

The futures market on Huobi has proven to be a popular and robust trading platform at a time where this style of trading and investing in cryptocurrencies has become increasingly popular. Marching alongside a steadily increasing price in Bitcoin, and other altcoins, Huobi Futures has kept pace with the needs of the market.

According to the statistics of TokenInsight, BTC rose by 90% from September to October last year. The open interest of BTC/USD swaps has risen from $1.2 billion to $2.4 billion in the same period with a growth rate of 100%. 

Making the process better

Huobi Futures has looked to keep in touch with the wants and needs of traders in order to offer a service that is robust, flexible, and easy to use. This has seen a number of different products and trading innovations launched.

From Coin-margined swaps to USDT-quoted options and coin-margined bi-quarterly futures, Huobi Futures offered improved services that lead to a new all-time high in 24-hour volume of over $28 billion on Nov. 26th.

Coin-margined Futures was the first product of Huobi Futures. Launched in December 2018, its trading volume has sustainably ranked first in the derivative market in only eight months. At present, Huobi’s coin-margined futures trading has included 13 major crypto assets with a unilateral trading volume of $1.32 trillion in 2020.

Following the introduction of their first flagship product coin-margined futures, coin-margined swaps launched on Mar. 27, 2020 and exceeded BitMEX, the largest coin-margined swaps exchange at that time, in 45 days. Its annual trading volume reached $785.5 billion in 2020 and it has covered 57 mainstream currencies, including a wealth of DeFi currencies for users to choose from.

In September last year, Huobi launched USDT-quoted options whereby users could trade without worrying about the risk of liquidation. 

The fourth product USDT-margined swaps. Launched in Oct. 26, 2020 its trading volume has grown rapidly with its cumulative trading amount exceeding $177.8 billion in just two months. 

What Has Huobi Futures Done In 2020?

Robust risk-control system and zero clawback

Huobi Futures is the first digital asset derivatives exchange in the industry that supports a three-phase liquidation protection mechanism and no transaction fees will be charged in partial liquidation. Moreover, the platform uses Exponential Moving Average (EMA) as a second reference for forced liquidation.

Due to its strong risk control system, the platform holds a record of zero clawback for 752 days since its launch in December of 2018. In version V6.3.0., the system has a throughput of 10W+, the response speed of placing and canceling orders is within 6ms, and the link delay is within 25ms.

Innovative functions

Huobi Futures supports multiple order types including Limit Order, Trigger Order, IOC and FOK. To improve the asset utilization and to reduce trading cost, Huobi introduced lots of innovative features like locked margin mechanism, take-profit and stop-loss, real-time settlement, Follow a Maker & Taker, etc. 

Huobi Futures also designed the “Switchable Leverage When Holding Positions” function for its coin-margined positions. With no need to close positions first, users can switch leverage with positions holding as long as there is no open order. All these exciting functions empower both institutional and retail traders to fetch out maximum benefits in derivatives trading. 

VIP level evaluations based on USD amount

Due to the fact that most crypto exchanges require at least hundreds of BTC to be traded per month to reach their VIP standard, many traders have been rejected by these platforms to get a VIP when the annual increase in Bitcoin price has risen by 400%. 

On Huobi Futures, as long as you have assets worth of 30,000 USDT in Huobi Futures account, you will be qualified for VIP. In addition to that, Huobi introduced an upgraded VIP Sharing Program, that is, VIPs of any other exchanges are considered as Huobi Futures VIP+1. Users could provide certificates of VIP level on other platforms to apply for a VIP+1 level on Huobi Futures for coin-margined swaps and coin-margined futures trading.

Conclusion

As we head into 2021, it appears there has been a further shift towards the digitalization of most things, including money. 

Categories
Bitcoin News Cryptocurrency News Ethereum News

Terra (LUNA) Token Launched On Voyager Digital

Voyager Digital Ltd., a publicly-traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade crypto assets, today announced the listing of the Terra (LUNA) Token on the Voyager platform, expanding Voyager’s industry-leading offering to 57 digital assets.

“By adding the LUNA Token to the Voyager platform, our U.S. customers will now have one of the first direct fiat-to-crypto on-ramps available on mobile devices,” said Steve Ehrlich, Co-founder and CEO of Voyager. “Our commission-free agency broker platform is quickly becoming the most trusted and transparent vehicle for investors to buy, trade and hold digital assets. We will continue to enhance our customer-centric platform with additional offerings including debit and credit cards, margin and the listing of other digital assets.”

Terra LUNA is a next-generation smart contract platform and programmable money for the internet. Terra’s platform supports stablecoins that offer instant settlements, low fees and seamless cross-border exchange, and are loved by millions of users and merchants.

“Both Terra and Voyager are making crypto and blockchain more accessible for mainstream adoption,” added Terra Co-Founder and CEO, Do Kwon. “Terra’s focus on merchant and payment adoption will be pushing the future forward on blockchain-powered digital payments. We’re excited to be partnered with Voyager, availing the power of LUNA to the masses.”

About Terra
Terra‘s stablecoin ecosystem aims to make money easier to spend and more attractive to hold for users. Terra is the first (and today the largest by market cap) algorithmic stablecoin protocol in existence, supported by the Terra blockchain’s native asset, LUNA. Terra creates stablecoins pegged to the world’s major fiat currencies (USD, EUR, CNY, JPY, GBP, KRW, and the IMF SDR) that deploy decentralized monetary supply controls to retain value, generate stable interest, and keep transaction costs low. Terra now has the third highest number of transactions of all blockchains (after BTC and Ethereum) and is generating 13M USD in fees annually. TerraKRW today powers Chai, one of the largest e-commerce wallets in Korea, which hosts over 2 million users and generates $1.2 billion in annualized transaction volume. Investors in Terraform Labs (TFL), the group behind Terra, include Arrington XRP Capital, PolyChain Capital, Binance Labs, Huobi Capital, FBG Capital, and TransLink Capital.

About Voyager Digital Ltd.
Voyager Digital Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace.

Categories
Bitcoin News Cryptocurrency News Ethereum News Litecoin News Ripple News

It’s Not Just Institutional Thirst, Retail Demand For Crypto Reaches ‘Unprecedented’ Levels

There’s just not enough Bitcoin to meet demand.

That’s not just some hopium-based fantasy by the leader of a fringe crypto cult.

No, it’s simple fact from tallying just a couple places where Bitcoin can be bought.

We’ve reported that institutional money is moving into cryptocurrency assets, and that institutional demand is higher than it has ever been.

Retail demand is also currently at “unprecedented levels.”

Unprecedented levels

Israeli trading and investing platform Etoro warned customers in Europe on Friday of possible limitations on crypto purchasing over the weekend. In an email, the exchange said: “The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to support buy orders over the weekend. In light of this, it may be necessary for us to place limitations on crypto buy orders.”

eToro’s statement acknowledging unprecedented demand is just one of many that point to the fact that there isn’t enough Bitcoin available at today’s prices to meet demand.

Pantera Capital’s recent monthly letter to investors states that:

In last month’s investor letter we discussed that after 30 months of operation, Square’s Cash App is estimated to be buying around 40% of all newly-issued bitcoin.

PayPal just launched their new service that enables customers to buy, sell, and hold cryptocurrency directly from their PayPal accounts. It’s already having a huge impact.

The bitcoin community is proud to have grown to 100 million users over twelve years. PayPal has 300 million active users. As we’ve argued — and will argue more fully in our December investor letter — this rally is much more sustainable than 2017. One of the main differences is the ease of investing in bitcoin now — via PayPal, Cash App, Robinhood, etc.

Previously the friction to buy bitcoin was pretty onerous: take a selfie with your passport, wait days to a week to get activated, daily limits.

Three hundred million people just got instant access to Bitcoin, Ethereum, and other cryptocurrencies.

BOOM! The results are already apparent.

PayPal’s crypto infrastructure provider is Paxos. Prior to PayPal’s integration of crypto, itBit, the Paxos-run exchange, was doing a fairly constant amount of trading volume — the white line in the chart below.

When PayPal went live, volume started exploding. The increase in itBit volume implies that within four weeks of going live, PayPal is already buying almost 70% of the new supply of bitcoins.

PayPal and Cash App are already buying more than 100% of all newly-issued bitcoins.

Only 900 New Bitcoins Created Each Day

Bitcoin supply is growing daily. Literally, it’s growing by 6.25 newly created Bitcoins with each new block mined. By design, one Bitcoin block is mined every 10 minutes, resulting in an average of 144 new blocks every day. 144 x 6.25 equals 900 new Bitcoins created each day.

Genuine Bitcoin Investor Demand

As we reported above, just Paypal and Cash App are responsible for buying more than 900 Bitcoin per day.

Let’s look at another rather obscure place to buy Bitcoin: LocalBitcoins.com. This is a site outside of the massive mainstream crypto exchanges. It is sort of a peer-to-peer classified ad site that matches buyers with sellers on an individual level.

Compared to the big exchanges, such as Coinbase, this site is tiny. For instance, Binance alone had a Bitcoin trading volume in the past 24 hours of $2.77 billion at press time.

Contrast that to the average daily trading of Bitcoin at localbitcoins.com which is a mere $6 million. The difference in size is staggering. The point being, trading volume at localbitcoins.com is a tiny, extremely tiny, amount of Bitcoin being bought each day.

Now, be aware that most of the trading volume on Binance and other big exchanges is just that: trading, not investing. A trader can buy and sell multiple times per day with each of those trades adding into the cumulative total trading volume.

On localbitcoins.com it is definitely not “traders” doing the trading, it is mom and pop type of people buying Bitcoin to hold as an investment.

So let’s look at the numbers. $6 million worth of Bitcoin are being bought right now every day on localbitcoins.com.

How many Bitcoin is that?

$6,000,000/$37,000 each equals 162 Bitcoin.

Remember, there’s only 900 being created. And this tiniest little peer-to-peer exchange is responsible for its users buying up almost 1/5 of all newly created Bitcoin each and every day. This is purely Bitcoin volume, and does not include other cryptos such as XRP and Litecoin.

Paypal and Cash App are already buying more Bitcoin than are being created each day. This tiny little site is facilitating the buying of nearly 20% of all new Bitcoin being create. What about the customers of Binance? What about demand from the customers of Coinbase, Gemini, Kraken, Bittrex, Bitstamp, Huobi, Bitfinex, and hundreds of other exchanges are are many times lager than localbitcoins? Where will all the Bitcoin come from for those buyers to be able to purchase?

Only Existing Holders Can Supply Bitcoin To Match Soaring Demand

One thing is certain, there is no way to increase the supply of new Bitcoin being created each day and available on the market. With demand absolutely overwhelming new supply, that only leaves existing holders willing to sell in order to satiate buyer demand.

Which means only one thing: prices will continue to be bid higher.

There’s good reason for the crypto fear and greed index to be pegged on greed.

How high is high? Here’s our Bitcoin forecast for this year and beyond.