Connect with us


Latest news on the cryptocurrency market

The volume of transactions on the popular P2P crypto trading platform, LocalBitcoins, has declined significantly, and last week dropped to a 7-year low. From February 17th to 22nd, the trading volume amounted to 3,144 BTC, the lowest result since May 2013. At the same time, just a year ago, weekly trading volumes exceeded 13,000 BTC. Does this represent a decline in Bitcon’s liquidity?



This picture shows a couple of crypto coins on top of a table.

Trading volume on LocalBitcoins fell to a 7-year low, Ethereum Classic developers named the date of the next hard fork, Huobi stock exchange launched a test network of its token. We have made a selection of the important news from last weekend.

With Born2Invest mobile application, you can access the daily financial news updated throughout the day, the evolution of economic indicators and the latest business happenings in the sector. All the latest news in Born2Invest are now easily accessible from your Android and iOS devices.

Over the past three days, several events have occurred on the cryptocurrency market, which could affect both the value of individual coins and the market capitalization. The main ones are in our selection.

Huobi has launched a test network of its token

Huobi cryptocurrency exchange has announced the launch of a test network of its own Huobi Token. Against this background, the price of altcoin rose by 12% to $5.4. To date, it has dropped to its previous level of $4.65.

Trading volume on LocalBitcoins fell to a 7-year low

The number of trades on a p2p-platform for buying and selling LocalBitcoins cryptocurrency fell to a 7-year low. From February 16th to 22d, this figure was about 3,144 BTC, which corresponds to the values of July 2013, when the company has just started working.

The decline in Bitcoin trading volume on LocalBitcoins can be caused by several reasons. These include stricter requirements for user identification, cancellation of the possibility to make transactions in person and the growing competition from other sites.

The developers of Ethereum Classic have chosen the date of the next hard fork

The Ethereum Classic development team has scheduled the next update of the cryptocurrency network to block 10 500 839. It will take place approximately on June, 10th, but the date may change, it depends on the ETC miners extraction speed.

The previous Ethereum Classic Agharta update took place on January, 12th. The price of altcoin started to rise in early December and, in only two months, increased by more than 250% from $3.4 to $13.

The fluctuations in the Bitcoin exchange rate

On March 1st, the price of Bitcoin rose to $8,740, a few hours later it dropped to $8,410. At the moment, the coin is worth $8,650, a daily increase in the price of 1.1%.

Another 100 million XRP tokens are now available for sale

Blockchain start-up Ripple unlocked 1 billion XRP tokens, after which 900 million of them were returned to the storage. That is likely due to the company’s new policy aimed at reducing the sales of its coins.

At the same time, Ripple technical director David Schwartz said that the startup is developing a new feature, which will make it possible to release stablecoins on the XRP token block.

P2P trading is now available on Binance’s web version

In the browser version of the Binance exchange, there is a possibility of P2P trading. Now users can directly exchange BTC, ETH, BNB, BUSD and USDT coins with zero transaction fees. Previously, this feature was only available in the company’s mobile application.

A new record in the Bitcoin network

The number of transactions in the Bitcoin network has overcome the mark of 3.1 billion. The majority of transfers were made in 2019, for 12 months this figure was $1.1 billion.


(Featured image by Stanislaw Zarychta via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in РБК, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Sharon Harris is a feminist and a part-time nomad. She reports about businesses primarily involved in tech, CBD, and crypto. She started her career as a product manager at a Silicon Valley startup but now enjoys a new life as a personal finance geek and writer. Her primary aim is to provide readers with a new perspective on the overlapping world of finance and technology.