ETH Loans Fell From 42% to 4%: 'No One Is Short Any More'

Genesis Global Trading, one of the largest OTC cryptocurrency dealers, has loaned $553 million to institutional borrowers since March. They said that some of the largest loans were made in Ethereum (ETH) to hedge funds which are typically using the borrowed assets for short positions

At the end of Q1 ETH loans made up of 42% of outstanding balances, but theu fell to 4% as of the end of Q3 following an 80% decline in ETH prices.


272.72 USD -1.12%
0.03118000 BTC 2.16%
Volume, 24h
2,405,210,584 USD
28,549,930,014 USD

Related news

Feuding Ethereum Siblings Score Pre-Fork Surges as Bitcoin Price Lags

By CCN Markets While the bitcoin price languishes this week, ethereum classic is enjoying a spectacular spike ahead of its scheduled September hard fork. And the ethereum price is rising too. As of this writing, the price of ethereum classic (ETC) rocketed 20 percent to top $7.38 per coin. ETC has been on a sizzling rally […] The post Feuding Ethereum Siblings Score Pre-Fork Surges as Bitcoin Price Lags appeared first on CCN Markets

Ethereum Bull Run Over: Will Bearish Market Be Like Bitcoin’s 2014/15?

Last week, Ethereum (ETH) dropped below $200, which led some to believe that cryptocurrency’s bull market is over. Placeholder partner and crypto investor Chris Burniske feels that ETH is experiencing its first bear market, synonymous to what Bitcoin (BTC) went through in 2014/15. Burniske noted that 2014/15 was one of the best periods to consider investing in Bitcoin. He adds that the cryptocurrency’s momentum was definitive regardless of the bearish price action. He says what happened then to Bitcoin is happening now to ETH. Ethereum Still Faces Unresolved Issues Yesterday, Changpeng Zhao, the founder ... ﾿ Read The Full Article On Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

Why are Bitcoin Maximalists Betting on this Ethereum ERC-20 Token? Crypto-Twitter Asks

INX Limited, a crypto exchange start-up, recently procured SEC’s approval for a security token sale. This is important because this is the first instance of a crypto-based IPO approved by the SEC. However, Crypto-Twitter finds the initial investors only shilling Bitcoin, on one hand, while investing in ERC-20 tokens themselves. Moreover, INX tokens, in all probability, will be identical to Binance [BNB] Coin as is also backed by an exchange. Hence, the SEC’s approval and the support from leading crypto-influencers is creating a lot of hype around it. In fact, the popular Magical Crypto Friends group has been promoting Bitcoin maximalism for quite some time. According to the filling, Riccardo Spagni, the lead developer of Moneo has invested about $1 million followed by Charlie Lee and others who are part of the group. Leading analysts are criticizing the move because these people have largely been against investment in ‘sh*tcoins’ and projects. Hence, Crypto-Twitter led by Tone Vays and Richard Heart is calling out hypocrisy from people who have invested in the project. #Bitcoin maximalists have figured out that investing in ERC20 projects (as HEX is) makes sense. Here's the public F-1 securities filing that shows @Excellion, @lopp, @AlenaSatoshi doing so. Believe what people do, more than what they say. You'll notice some other names listed. — Richard Heart (@RichardHeartWin) August 20, 2019 It even includes Samson Mow, the CSO at Blockstream. Blockstream is one of the leading firms involved in the development of Bitcoin. It has taken Bitcoin’s ledger to satellites, hosts mining operations, and is also supporting the Lightning protocol. The group is pro-Bitcoin as it has always been. Tone Vays cited a tweet from Samson Mow to throw light on their deviation. Tweet from Samson Mow Criticizing ERC-20 tokens (Source) The people involved have not responded to the issue apart from James Lopp, the CTO at CasaHodl who has also invested in the platform. However, his response to it raised more question than it solves. He replied, What if I told you… sometimes it’s best to say nothing at all? According to James, “no one is owed an explanation” and it is their independent decision. While Ethereum’s scalability problem is a reason for concern, the development with Ethereum 2.0 is also underway. Hence, this criticism might not hold a year from now. Is Binance [BNB] Coin the Next Target? Furthermore, Tone Vays’ criticism on the issue extended to the fact that while this Exchange backed is registered with the SEC, BNB isn’t. He said, OK, I lied, as something else bothers me: From what I read of $INX it seems to be identical to $BNB in every way accept it’s trying to be complaint with @SEC_News as a Security Token. Does this mean if @SEC_Enforcement grants it, by default it meant @binance is in DEEP SHIT? Binance US plans quite possibly is delayed due to these concerns. INX has also only begun the funding process for now. The Exchange would require further licenses and approvals from the authorities as well. Do you think long term investment in some ERC-20 is still worth the risk or regulatory compliance is the key? Please share your views with us.  The post Why are Bitcoin Maximalists Betting on this Ethereum ERC-20 Token? Crypto-Twitter Asks appeared first on Coingape.

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.