In cryptocurrencies, bitcoin prices are trading slightly below $ 48,000 today. The world’s largest cryptocurrency in terms of market capitalization was hovering around $ 47,950. In August, the bitcoin rose 18 percent, up from 65 percent this year, while ether saw a big increase of 35.7 percent in the previous month and 379 percent this year.
The ether, the ether blockchain coin, also declined marginally to $ 3,573.8. Cardano fell 2% to 4 2.42, while Dogecoin fell nearly 22% to 24 0.24. Other virtual tokens including Stellar, Uniswap, Light Coin were also tanked in the last 24 hours. Solana, meanwhile, was trading at 150, down.
The world’s largest cryptocurrency exchange operator, Binance Holdings Limited, saw a 65% increase in trading volume on its platform on a monthly basis, according to a report by CryptoCompare, a provider of digital asset data. This was increasing the pressure on the corrupt exchange despite regulators around the world. CryptoCompare ranks exchanges as ‘Top Tier’ or ‘Lower Tier’, among other things, based on factors such as geography, legal/regulatory assessment, investment, and market quality.
In addition, the volume of derivatives rose 37.8 percent to 3.4 trillion in August. Meanwhile, the total space volume increased by 400% to 2.6 trillion. The derivatives market now represents 56.6% of the crypto market, compared to 56.9% in July. The figures showed.
Meanwhile, the US Cryptocurrency Exchange filed an application with the National Futures Association on Wednesday to register as a futures commission merchant. The company is registering as Coinbase Financial Markets Inc.