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Kraken Daily Market Report for October 15 2021

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Overview


  • Total spot trading volume at $1.22 billion, the 30-day average is $1.20 billion.
  • Total futures notional at 289.5 million.
  • The top traded pairs were, respectively, BTC/EUR, BTC/USD, USDT/USD, ETH/USD, and ETH/EUR.
  • Strong returns from Livepeer (+37%), 1inch (+11%), and Axie (+13%).

October 14, 2021 
 $1.22B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
BTC 
$57368. 
↓0.02% 
$432.0M
USDT 
$1.0001 
↑0.0% 
$256.6M
ETH 
$3791.1 
↑5.1% 
$228.1M
DOT 
$40.744 
↓2.2% 
$93.3M
USDC 
$0.9999 
↓0.01% 
$39.8M
ADA 
$2.1717 
↓0.7% 
$37.2M
LINK 
$26.697 
↑3.9% 
$26.6M
SOL 
$149.79 
↑1.1% 
$25.8M
XRP 
$1.1337 
↑0.5% 
$18.9M
LTC 
$181.26 
↑2.0% 
$17.0M
DOGE 
$0.2326 
↑0.07% 
$13.2M
ATOM 
$33.740 
↓2.5% 
$11.4M
DAI 
$1.0004 
↓0.01% 
$10.8M
MLN 
$141.87 
↑8.6% 
$8.66M
ALGO 
$1.8091 
↓1.6% 
$8.6M
XTZ 
$7.129 
↓2.4% 
$7.61M
KSM 
$349.77 
↓4.6% 
$7.29M
FIL 
$70.345 
↑3.0% 
$6.04M
MATIC 
$1.2637 
↑1.7% 
$5.79M
FLOW 
$18.675 
↓0.6% 
$5.75M
XMR 
$266.29 
↓2.8% 
$5.24M
UNI 
$26.449 
↑7.2% 
$5.09M
XLM 
$0.3694 
↑0.31% 
$5.06M
EWT 
$11.63 
↓2.4% 
$4.73M
MINA 
$4.34 
↑3.8% 
$3.99M
AXS 
$136.27 
↑13% 
$3.94M
BCH 
$597.46 
↑0.6% 
$3.65M
RARI 
$23.392 
↓2.1% 
$3.13M
AAVE 
$303.23 
↑1.7% 
$2.86M
DYDX 
$23.627 
↑5.2% 
$2.35M
CQT 
$1.261 
↑0.9% 
$2.23M
EOS 
$4.609 
↑0.26% 
$2.18M
WAVES 
$32.346 
↑0.9% 
$2.15M
SC 
$0.0189 
↑0.9% 
$2.12M
LPT 
$25.35 
↑37% 
$2.07M
OMG 
$14.503 
↓3.3% 
$2.04M
NANO 
$5.3499 
↑1.3% 
$2.04M
MOVR 
$258.84 
↓3.9% 
$1.99M
TRX 
$0.0972 
↓2.0% 
$1.74M
CRV 
$2.8810 
↓3.2% 
$1.69M
QTUM 
$13.249 
↓1.1% 
$1.69M
COMP 
$314.78 
↑2.9% 
$1.55M
OCEAN 
$0.8137 
↑4.9% 
$1.51M
KAVA 
$6.03 
↑0.9% 
$1.36M
SUSHI 
$10.72 
↑5.3% 
$1.16M
SNX 
$9.98 
↑6.1% 
$1.16M
YFI 
$34966. 
↑1.3% 
$1.15M
ETC 
$54.357 
↑1.9% 
$1.1M
GRT 
$0.7155 
↑2.2% 
$1.02M
LSK 
$3.3105 
↓0.3% 
$1.01M
ICX 
$2.0897 
↓2.3% 
$997K
PERP 
$18.217 
↑2.4% 
$888K
PHA 
$0.8192 
↓3.6% 
$885K
BAT 
$0.7028 
↓0.29% 
$825K
MANA 
$0.7730 
↑0.6% 
$791K
ENJ 
$1.6119 
↑1.6% 
$685K
KEEP 
$0.4130 
↓1.0% 
$619K
MKR 
$2527.3 
↑1.8% 
$535K
BAL 
$22.21 
↑3.8% 
$520K
PAXG 
$1799.9 
↑0.22% 
$512K
SDN 
$4.601 
↓6.6% 
$496K
BADGER 
$34.144 
↓5.7% 
$474K
STORJ 
$1.3582 
↑1.1% 
$467K
ZEC 
$121.73 
↑2.0% 
$466K
REN 
$1.0076 
↑1.1% 
$459K
SRM 
$7.6320 
↑0.6% 
$451K
DASH 
$186.02 
↑1.4% 
$448K
ANT 
$4.5707 
↓0.5% 
$373K
KAR 
$8.0310 
↓6.9% 
$371K
1INCH 
$3.325 
↑11% 
$330K
INJ 
$12.165 
↑4.3% 
$303K
GNO 
$324.63 
↑4.8% 
$301K
OXT 
$0.3241 
↑0.11% 
$280K
KNC 
$1.7269 
↓1.2% 
$242K
CHZ 
$0.3308 
↑1.4% 
$235K
OGN 
$0.8168 
↑0.05% 
$210K
ANKR 
$0.0906 
↑3.4% 
$209K
SAND 
$0.7783 
↑5.0% 
$186K
RAY 
$9.88 
↓1.7% 
$170K
WBTC 
$57731. 
↑0.2% 
$165K
MIR 
$2.88 
↑2.7% 
$158K
CTSI 
$0.6693 
↑8.3% 
$156K
REP 
$25.329 
↑1.4% 
$119K
ZRX 
$1.034 
↑0.9% 
$108K
OXY 
$2.155 
↓0.6% 
$101K
LRC 
$0.3806 
↑0.21% 
$77.9K
BAND 
$8.073 
↑3.5% 
$75.9K
GHST 
$1.6497 
↓0.9% 
$58.5K
REPV2 
$25.388 
↑2.1% 
$57.1K
BNT 
$4.0360 
↑1.9% 
$39.5K
TBTC 
$57868. 
↑0.8% 
$11.0K



#####################. 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 (October 15 2021)



Figure 2: Mid-size trading assets: (measured in USD) (October 15 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 3: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (October 15 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.

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Source: https://blog.kraken.com/post/11539/kraken-daily-market-report-for-october-15-2021/

Blockchain

CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec

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Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential tool for combating crypto, according to the Bank of Indonesia.

The central bank of Indonesia is considering launching a digital rupiah to “fight” against cryptocurrencies like Bitcoin (BTC), Bank of Indonesia’s assistant governor Juda Agung said at a recent parliamentary meeting.

“A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto. CBDC would be part of an effort to address the use of crypto in financial transactions,” Agung stated, according to a Nov. 30 Bloomberg report.

The official noted that cryptocurrencies like Bitcoin are currently traded alongside commodity futures and regulated by the trade ministry despite severe impacts on the financial system.

The news comes shortly after the National Ulema Council (MUI), Indonesia’s top Islamic scholarly body, reportedly found cryptocurrencies like Bitcoin to be haram, or forbidden, by the tenets of Islam. The East Java branch of one of MUI previously issued a statement deeming the use of the cryptocurrency haram in late October.

As previously reported, the Indonesian government has taken a mixed stance on crypto regulation. Despite banning cryptocurrency payments back in 2017, local authorities have opted to keep cryptocurrency trading legal. In April 2021, Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) of the Ministry of Trading reportedly announced plans to launch a government-backed crypto exchange in the second half of 2021.

While maintaining a mixed stance on crypto, Indonesian regulators have been increasingly looking at a potential CBDC. In May, the Bank of Indonesia Governor Perry Warjiyo announced plans to launch a digital rupiah as a legal payment instrument in Indonesia.

Related: Retail-focused Singaporean CBDC to hedge against privately issued stablecoins

CBDCs like the Chinese digital yuan are apparently designed to curb cryptocurrency adoption as one of their key features. Indonesia is not alone in thinking that CBDCs can help governments combat crypto. In mid-November, Bank of Russia’s governor Elvira Nabiullina said that CBDCs should serve as a good option for governments to replace decentralized cryptocurrencies like Bitcoin.


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Source: https://cointelegraph.com/news/cbdc-is-a-tool-to-combat-bitcoin-says-bank-of-indonesia-exec

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Binance CEO reveals one key factor for token listings

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The CEO of Binance, the world’s largest cryptocurrency exchange by volume, has disclosed some information on how to get listed on the trading platform.

The most important criteria for listing a cryptocurrency on Binance is the number of users, CEO Changpeng Zhao, also known as “CZ,” said in a Forbes interview on Monday.

CZ went on to say that there are many other factors like the number of active addresses on blockchain, social media audience and code commits. However, the number of users is “the key metric,” he said, adding:

“If a coin has a large number of users, then we will list it. That’s the overwhelming significant attribute. Consider for example meme tokens, even though I personally don’t get it, if it’s used by a large number of users we list it. We go by the community, my opinion doesn’t matter.”

According to Binance’s listing tips from its CEO, the number of users is just one of many factors for listing a token on the crypto exchange. “If you have a large number of users, your product has value. That’s the easiest to measure. Do include the user statistics in the application form. It will help significantly,” the CEO’s statement on Binance listings reads.

According to Sergei Khitrov, founder of crypto listing-focused platform Listing.Help, major crypto exchanges like Binance don’t need to list minor tokens, as they earn mainly from trading volumes rather than listings.

“This is one of the main problems that many projects do not understand. They should start with building a community. And that means not 500 or 10,000 people in a Telegram channel, but a much larger audience,” Khitrov told Cointelegraph. He added that token creators are recommended to start from smaller exchanges.

At the time of writing, Binance supports a total of 346 cryptocurrencies, including major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), as well as popular meme tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB), according to data from CoinGecko. Binance’s daily trading volume is estimated at $28 billion.

In comparison, OKEx, the second-largest crypto exchange by trading volumes, has listed 312 coins and has a trading volume of roughly $7 billion. United States-based crypto exchange Coinbase supports just 123 tokens with a daily trading volume of about $6 billion.

Some major centralized exchanges (CEX) have more tokens listed than Binance does, with Bittrex listing over 450 cryptocurrencies at the time of writing.

Related: Kraken exchange defies competitors’ regulatory concerns with SHIB listing

As opposed to a CEX, decentralized exchanges (DEX) are the world’s biggest platforms in terms of the number of listed cryptocurrencies, as DEXs like PancakeSwap do not require contacting an exchange or asking permission. As such, PancakeSwap, a DEX running on the Binance Smart Chain, has over 3,200 listed tokens, while Uniswap lists over 1,800 cryptocurrencies.

Last month, PancakeSwap listed the Squid Game (SQUID) token, a cryptocurrency scam inspired by the eponymous Netflix show, which posted over 45,000% growth in a few days after launch. The token is listed on Binance-owned crypto website CoinMarketCap, while competitors such as CoinGecko retracted from listing SQUID due to being “most likely a scam.”


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Source: https://cointelegraph.com/news/binance-ceo-reveals-one-key-factor-for-token-listings

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India misinterpreted private crypto ban, says crypto bill creator

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The creator of India’s crypto bill, former Finance Secretary Subhash Garg, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation while highlighting the enormous potential of cryptocurrencies and blockchain technology.

The parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban’s scope. As Cointelegraph reported, an episode of panic selling among Indian investors followed the announcement. In an interview with local news channel News 18, Garg clarified:

“[The description of the crypto bill] was perhaps a mistake. It is misleading to say that private cryptocurrencies will be banned and to intimate the government about the same.”

He believes that the Indian government should formulate a bill after discussing it with stakeholders and crypto investors. Furthermore, the bill suggests banning private cryptocurrencies without clarifying what the word “private” stands for.

As a result, the crypto community in India self-interpreted two different versions of the bill’s agenda — one that considers banning all non-government issued cryptocurrencies and the other that excludes cryptocurrencies running on public blockchains such as Bitcoin (BTC) and Ether (ETH).

Garg also pointed out a flaw in classifying cryptocurrencies as assets after underscoring the vast ecosystem powered by disruptive technology. He also said that crypto exchanges have limited interests and do not represent the entire community:

“You don’t classify the wheat that you produce, you don’t classify the clothes you produce, as assets. That is too much of oversimplification to treat this as an asset.”

On an end note, Garg added that the central bank digital currency initiatives, especially in countries such as India, are complex. According to him, the government first needs to address challenges, including the unavailability of smartphones and digital wallet issuance.

Related: Singaporean crypto exchange enters India amid regulatory uncertainty

The Indian crypto market continues to attract international firms, with the latest being Coinstore, a Singaporean crypto exchange. As Cointelegraph reported, Coinstore has allocated a $20-million fund to set up three new offices in the region.

Speaking to Cointelegraph, a Coinstore spokesperson was hopeful for the development of a positive crypto regulatory framework:

“Strict KYC process, security requirement for exchanges, as well as gradual regulation of certain cryptocurrencies naturally protect the Indian users and would clarify the legality of certain cryptocurrencies.”


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Source: https://cointelegraph.com/news/india-misinterpreted-private-crypto-ban-says-crypto-bill-creator

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