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Established in 2013, Hong Kong. No. of pairs - 250. Fiat - no. Centralized exchange. KYC & Restrictions - yes.

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Liquidity provider for CME and Huobi raises $7M from Polychain Capital

A market maker for CME and Huobi just raised a $7 million seed round from Polychain Capital, aiming to address the growing demand for cryptocurrency liquidity from institutional traders.  Altonomy, a Singapore-based market maker, is said to connect with more than 60 cryptocurrency exchanges and OTC desks around the globe and trade over 250 cryptocurrencies. Besides providing liquidity to spot and derivatives exchanges, it also works with stablecoins including USDC, Tether, TrueUSD, and Paxos Standards.  "We are proud of our ability to source liquidity for customers, regardless of token type, order size, market cap, or whether the asset trades on centralized or decentralized exchanges,” said Altonomy co-founder Ricky Li in a statement.  Li told The Block that the company has witnessed an influx of institutions entering the crypto market recently. Indeed, as the crypto market matures and more liquidity pours into the space, Wall Street giants such as Fidelity, Goldman Sachs, and JPMorgan are all testing the cryptocurrency trading waters. Goldman Sachs recently built a new digital asset arm that is said to rival JPMorgan’s digital asset JPMCoin, while Fidelity is strengthening its own digital asset team to gear up for a reported launch of bitcoin trading. These large legacy players may pose substantial competition to the one-year-old company, although Li believed that there is still space for Altonomy to grow.  "They (companies like Goldman Sachs and Fidelity) are mostly in bitcoins, but most of our volume goes to other coins," said Li. "These are the tokens that actually need a deep understanding of the cryptocurrency and blockchain technology, as well as a network of the actual crypto players...We are attracting different customers."  Meanwhile, the upswing in bitcoin derivatives trading volumes also signals institutional traders’ growing interest in cryptocurrencies. CME’s bitcoin futures are trading at all-time highs two months in a row, reaching a record $1.7 billion in notional value traded in late June. In addition, 950 new trading accounts have been created on CME in 2019 so far, a 30% increase from last year.  Altonomy is counting on its partnership with Polychain Capital, a noted name in the blockchain space, and the newly raised fund to help strengthen its market presence among institutions and expand its cryptocurrency inventory.   "It [having a large inventory] gives us a lot of comforts and expands our trading universe," said Li. 
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BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi

15th July, Singapore, Singapore – The numbers are in and fast-growing exchange BiKi.com is proving it is no flash in the pan. According to official reports, BiKi.com’s revenue figures in the second quarter exceeded USD 15 million, which is a 500% increase when compared to figures from the first quarter. This works out to one-eighth of leading exchange Binance’s reported Q2 revenues. BiKi’s June trading fees is also currently 20% of OKEx’s. Its total registered users have now reached 1.5 million, with 130,000 daily active users, numbers which are comparable to top tier exchanges like Huobi. The trading platform now provides 220 trading pairs and ranks amongst the top 20 on exchange ranking sites such as Feixiaohao and Mytoken. BiKi.com has continued to forge an impressive progression since it began in June 2018 and this has attracted investments of nearly USD 10 million the past year from investment institutions and individuals the likes of Du Jun, Zhu Huaiyang (Genesis Capital), FBG Capital, and ChainUp. Cryptocurrency exchanges generally operate within an extremely competitive environment and many exchanges undertake wash trading to maintain their competitive edge. BiKi.com claims it does not practice wash trading and attributes its success to two factors – project selection and how it gains and retains market share. Project Selection BiKi adopts an astute set of criteria when choosing projects to list and one of them requires that all listed projects have strong communities of token holders behind them. This is contrary to cryptocurrency exchanges who charge high listing fees and then have to rack their brains to bring in users to trade. As was the case with FCoin Exchange, the “Transaction Mining” mechanism devised by its team did indeed attract a huge user base within a short period of time. However, once the dividend period was over, it was simply a matter of time before its user base had all but dissipated.  BiKi chooses its projects wisely – listed projects on BiKi have large communities and frequent traders who possess diverse assets. Additionally, BiKi already has 5 Wechat community leaders with over 1 million followers who are community token holders and over 10 Wechat community leaders with over 100,000 followers, which contribute to 80% of the exchange’s traffic volume. By leveraging on the strengths of its projects and BiKi’s own strong Wechat communities, BiKi has managed to carve out a fast track to gaining liquidity and trading volume. BiKi’s strategy of maintaining long term relationships with venture capitalists and investors ensures that BiKi has opportunities to either list top tier projects on a moment’s notice, or be the first exchange to list a certain project. As a result, BiKi’s users have access to a wide variety of high quality tokens to trade –  clearly a factor why BiKi has emerged as the industry dark horse. Conversely, projects who list on BiKi see the exchange as a stepping stone to gain a new level of recognition in the industry. Listing on BiKi has become somewhat of a yardstick measure of project quality, aided in no small way by BiKi’s 130,000 daily active users who organically generate demand for their tokens. Gaining and Retaining Market Share   The sustainability of an exchange is actually not dependent on its current profitability, but on its ability to retain its users and effectively recruit new ones. BiKi was the first exchange to acquire users through its ‘community fission’ model, which is a way of scaling communities using recommendations from present users to attract more users. Blockchain projects cannot succeed without strong communities, and the network dynamics BiKi uses to acquire users are one of its core competitive advantages. Presently, BiKi has more than 200 official community groups, more than 100,000 community members, and is still growing at a rate of 300 new members per day. Using its “Community Partners Programme” to attract new users daily, BiKi currently has over 1000 Community Partners and is increasing at a rate of 30 per day. BiKi’s targeted 10,000 Community Partners within 2019 is estimated to bring with them 500,000 new users to the exchange. Similar to Chinese e-commerce platforms Yunji and Pinduoduo, BiKi’s Partner Program rewards Community Partners who introduce more active users to the platform. The ‘community fission’ model shifts the responsibility of customer acquisition to present customers themselves and its inherent network dynamics builds a base of new users that continues to ‘grow’ other users. What is important to note, though, is that despite the program restricting the network to only two tiers of membership, the efficacy of this model speaks for itself – BiKi has managed to amass 130,000 daily active users and USD 15 million in Q2. During a bear market, BiKi.com acquired 1.5 million registered users on the exchange, setting an industry precedent in user acquisition. BiKi’s strong base of relationships and users provides a clear value proposition that projects can tap into to reach their milestones. The exchange continues to welcome projects to join the growing community of choice projects currently listed on BiKi.com. About BiKi.com Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange that provides a digital assets platform for trading more than 100 cryptocurrencies and 220 trading pairs. Since beginning operations in June 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 1.5 million registered users and 130,000 daily active users, ranking within the top 20 exchanges globally. The post BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi appeared first on Bitcoin Garden.
Bitcoin Garden

BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi

15th July, Singapore, Singapore – The numbers are in and fast-growing exchange BiKi.com is proving it is no flash in the pan. According to official reports, BiKi.com’s revenue figures in the second quarter exceeded USD 15 million, which is a 500% increase when compared to figures from the first quarter. This works out to one-eighth […] The post BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi appeared first on CCN Markets
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BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi

15th July, Singapore, Singapore – The numbers are in and fast-growing exchange BiKi.com is proving it is no flash in the pan. According to official reports, BiKi.com’s revenue figures in the second quarter exceeded USD 15 million, which is a 500% increase when compared to figures from the first quarter. This works out to one-eighth […] The post BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi appeared first on CCN Markets
CCN

ICON Price Erupts 72% on Huobi While Crypto Exchange Launches on ICX

ICON (ICX) made significant moves amid a falling market on Sunday as its price exploded on both the Huobi Global, and Huobi Korea exchanges. ICX surged 72% […] The post ICON Price Erupts 72% on Huobi While Crypto Exchange Launches on ICX appeared first on Hacked: Hacking Finance.
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Huobi news by Finrazor

DIGEST

Bitfinex introduces a new system, BTCC launches in South Korea, the Bitcoin Unlimited upgrades features, the Maldives denies giving permits, IAMAI attracts big players, Huobi lists stablecoins, Binance opens in Uganda

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DIGEST

High hopes: big plans of large players

A bolivar-to-petro exchange app from Venezuela, the Chinese mining companies go public, more reflections on Bitcoin, Zuckerberg's sister at Huobi, VeChain to partner with BMW and Renault, and one more state-backed currency

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DIGEST

Crypto-philanthropy: the boom of charity funds

FBI has 130 crypto cases, Sacramento Kings mine ETH, Node Capital launches a US branch with 200,000 ETH, Huobi suspend services for Japan, Dan Larimer proposes new EOS constitution, Coinbase CEO creates GiveCrypto charity

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UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra

The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […] The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
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Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the members at Tether transferred $5 billion ... ﾿ Read The Full Article On CryptoCurrencyNews.com 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.
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ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 15

• The short-term and medium-term outlook is in a downtrend. • Selling opportunities at the broken demand area may be considered. ZIL/USD Medium-term Trend: Bearish Supply zone: $0.02500, $0.02600, $0.027000 Demand zone: $0.01000, $0.00500, $0.00300 ZILUSD is in a downtrend in the medium-term. The bears' strong pressure broke the lower demand area of the rant […]
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Royal Mint In UK Enters Crypto Realm Offering Custodial Services for Temtum (TEM) Cryptocurrency

The Royal Mint in the UK, a 1,100 financial institution tasked with minting coins for the United Kingdom announced their plans to become a cryptocurrency custodian in the coming days. This becomes the first time the financial institution is entering into the cryptocurrency world following previous unsuccessful attempts. The Royal Mint released an official press […]
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