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What happened to the Bitcoin course? Bitstamp investigates a large sale of cryptocurrencies at an unusually low price

The Bitstamp cryptocurrency exchange began an internal investigation into the situation that occurred on the night of May 17, when one of the traders successfully implemented several applications for the sale of 5,000 BTC at a price of $ 6,200. This, in turn, led to the massive liquidation of long positions on the BitMEX derivatives exchange and, according to experts, caused a sharp drop in the bitcon rate. Around 02:25 UTC […]

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The Bitstamp cryptocurrency exchange began an internal investigation into the situation that occurred on the night of May 17, when one of the traders successfully implemented several applications for the sale of 5,000 BTC at a price of $ 6,200. This, in turn, led to the massive liquidation of long positions on the BitMEX derivatives exchange and, according to experts, caused a sharp drop in the bitcon rate.

Around 02:25 UTC On May 17, Bitstamp recorded several bitcoin sales at a price of $ 6,200, including one application for 3,645 BTC ($ 26.5 million). At that time, the first cryptocurrency was trading just below $ 8,000.

As a result of the execution of applications, the price of Bitcoin went down sharply. At Bitstamp itself, the rate at some point dropped to $ 6178, after which it grew no less sharply to $ 7300.

A pair of BTC / USD on the Bitstamp exchange. TradingView data

Since the Bitcoin rate on BitMEX is 50% tied to the Bitstamp price (the second 50% is related to Coinbase Pro). it also led to the automatic elimination of long positions on this popular trading platform.

Here is how Davie Wang, a partner in venture capital firm Primitive Ventures, describes the likely sequence of events:

On Friday afternoon, Bitstamp published an official statement in which it reported that its systems behaved normally, processing applications after they were received.

Nevertheless, the exchange says it considers it necessary to launch an internal investigation into the incident.

At the time of publication (11:00 UTC), the weighted average rate of Bitcoin, according to CoinMarketCap, was $ 7,295 with a capitalization of $ 129 billion. Thus, over the past 24 hours, the first cryptocurrency slipped by more than 8%.

We also note a significant decline in the rest of the altcoin market – many of them also lost 8 percent or more. The total market capitalization, on the eve of reaching $ 255 billion, has now dropped below $ 230 billion.

Recall that on the night of Tuesday, May 14, the first cryptocurrency for the first time this year exceeded $ 8,000 .

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OKEx is going to launch futures on Tron on May 20,

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OKEx Crypto Exchange announced the launch of futures contracts for Tron (TRX). A new financial product will appear on the trading platform already on May 20 at 10:00 Moscow time.

Justin Sun, CEO of the Tron Foundation, said that with the launch of the OKEx futures platform on the TRX, the number of transactions with a digital coin will reach 15 million per day. Note that on the eve of the network appeared information that the daily number of users of the platform of decentralized applications from Tron reached 100 thousand, exceeding the achievements of Ethereum and EOS.

The Tron project token currently occupies the 11th position in the cryptocurrency rating in terms of market capitalization. Recently, TRX was listed on the P2PB2B crypto exchange, and the number of smart contracts in the Tron-blockchain reached almost a thousand.

OKEx futures will be settled on a weekly, fortnightly, and quarterly basis. The maximum allowable shoulder size for this derivative is 20x. The new tool will combine data for the TRX / BTC pair, taking into account the performance of three crypto-exchanges – Binance, Huobi, OKEx.

TRX futures

By the way, this week the team Tron left Lucien Chen, technical director of the project. He explained his departure to the fact that TRX is no longer decentralized, now Chen is going to develop his own project, the Volume Network (VOL), which will strive to achieve the goals that were moved to the Tron Foundation.

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The Central Bank of Great Britain for the first time recognized the huge potential of Bitcoin

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For the first time, a representative of the Central Bank of Great Britain commented positively on cryptocurrency and Bitcoin , in particular.

For a long time, the British financial regulator spoke extremely negatively about Bitcoin and doubted its reliability as a form of capital preservation.

For example, at the end of April, the Deputy Head of the Office for Markets and Financial Affairs of the Central Bank of the Kingdom, Dave Ramsden, reaffirmed the negative attitude of the regulator to the cryptosphere.

However, this week, the chief economist of the British Central Bank Andrew Haldane, during his speech to the students for the first time, acknowledged not only reliability, but also the gigantic prospects of Bitcoin. In his opinion, the largest cryptocurrency will be able to completely replace cash in the next 20-30 years.

Haldane said that he was following the development of the cryptocurrency industry and was aware of the existence of thousands of coins. Nevertheless, despite the fact that for the first time one of the influential employees of the British Central Bank noted the growing value of Bitcoin, the position of the regulator’s management is unlikely to change anytime soon, analysts say.

But it is quite possible that, following the chief economist, many other senior officials of the Central Bank will reconsider their position, and this will create conditions for the British Bitcoin regulator to be fully recognized as a reliable payment instrument.

Publication date 19/05/2019
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OKEx Exchange will launch TRON

OKEx cryptocurrency exchange announced the launch of TRON (TRX) cryptocurrency futures. TRON (TRX) futures trading will be available from 08:00 May 20, 2019 (CET, UTC + 1). Details as follows: https: //t.co/344ykd3iGi – OKEx (@OKEx) 17 May 2019 p. The new financial instrument will be available for trading on Monday, May 20. The following are the specifications of the TRON futures: […]

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cryptocurrency futures

OKEx cryptocurrency exchange announced the launch of TRON (TRX) cryptocurrency futures.

The new financial instrument will be available for trading on Monday, May 20. The following are the TRON futures specifications:

Derivatives calculations will be made on a weekly, fortnightly and quarterly basis. The maximum possible shoulder size of this futures is 20x. The instrument will be based on data on the TRX / BTC currency pair from OKEx, Huobi and Binance exchanges.

OKEx also reported that more than 557 million OKB tokens were purchased and burned this week. Since the start of the program (May 4, 2019), more than 1 million native tokens of the exchange have been destroyed.

Recall the other day TRON support announced Opera browser.

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Name Price24H (%)
Bitcoin (BTC)
$7,915.00
7.52%
Ethereum (ETH)
$254.55
6.90%
XRP (XRP)
$0.405027
7.31%
Bitcoin Cash (BCH)
$396.70
9.87%
EOS (EOS)
$6.29
5.77%
Stellar (XLM)
$0.139978
4.27%
Litecoin (LTC)
$93.42
7.39%
Cardano (ADA)
$0.085595
4.94%
Tether (USDT)
$1.00
0.03%
Monero (XMR)
$86.64
5.58%
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