Bitcoin’s Liquid Sidechain Makes a Splash on Bitfinex

Embattled Bitfinex has announced the integration of Blockstream’s Bitcoin sidechain, the Liquid Network. The upgrade is already seeing users …
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Georgi Georgiev| May 10, 2019 | 11:00


Embattled Bitfinex has announced the integration of Blockstream’s Bitcoin sidechain, the Liquid Network. The upgrade is already seeing users impressed with faster and more private transactions.


Bitcoin Liquid Integrated At Bitfinex

One of the biggest cryptocurrency exchanges in the world, Bitfinex, has announced the integration of Blockstream’s Liquid Network.

The Liquid Network is an inter-exchange settlement network which links together cryptocurrency exchanges and institutions in order to enable quicker Bitcoin transactions, as well as the issuance of digital assets.

According to the official announcement, the integration will allow for tighter exchange spreads, faster trading, as well as improved confidentiality.

Speaking on the matter was Paolo Ardoino, CTO at Bitfinex, who outlined:

Issuing Bitcoin, stablecoins, and various other digital assets under one blockchain platform makes a lot of sense. […] It reduces the integration burden for an exchange like ourselves, and traders can manage all their assets from a single wallet application. We’re excited to be active on the Liquid Network, and we’re looking forward to watching it develop.

Results Are Already Showing

The integration of Liquid is already proving to be worthwhile, according to derivatives trader Federico (@Federico_Xmas), who noted:

Just tried transferring BTC from TheRockTrading to Bitfinex using Blockstream Liquid, the transaction was executed and confirmed in less than 5 minutes, and best of all the amount is confidential to outside observers. Congrats to both exchanges and all other people involved.

Just tried transferring BTC from @TheRockTrading to @bitfinex using @Blockstream Liquid, the transaction was executed and confirmed in less than 5 minutes, and best of all the amount is confidential to outside observers. Congrats to both exchanges and all other people involved 👏

— Federico 🎅 (@Federico_Xmas) May 9, 2019

Unlike Bitcoin’s public blockchain, transactions carried out on liquid are private by default. This means that the amounts, as well as the types of assets transacted, are hidden from third parties.

Liquid Network Gaining Traction

Launched in October 2018, the Liquid Network is quickly gaining traction all throughout the space. According to a recent blog post, the network has added 14 new members, including Bluefire Capital, Huobi, OpenNode, Gate.io, and others.

liquid bitcoin

Moreover, the company has revealed that further integrations are also going to go live in the coming weeks. Perhaps one of the more interesting upcoming developments is the fact that BitMEX is also working with Blockstream to support L-BTC deposits and withdrawals.

Additionally, Tether (USDT), and Stably (USDS) have also revealed plans to launch on Liquid.

Back in March, Blockstream also released a user-geared wallet for its Liquid sidechain asset called Liquid Bitcoin (L-BTC).

Bitfinex meanwhile was recently served with a court order by the New York Attorney General, alleging a cover-up of $850 million in losses. While no charges are being sought at the time, the exchange says it’ll fight the ‘false assertions.’

What do you think of Bitfinex integrating Liquid? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock

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Bitcoin Cash Achieves Market Cap of $5.00 Billion (BCH)

Bitcoin Cash (CURRENCY:BCH) traded 2.7% lower against the US dollar during the 24-hour period ending at 21:00 PM E.T. on May 9th. Bitcoin Cash …

Bitcoin Cash logoBitcoin Cash (CURRENCY:BCH) traded 2.7% lower against the US dollar during the 24-hour period ending at 21:00 PM E.T. on May 9th. Bitcoin Cash has a market cap of $5.00 billion and approximately $1.46 billion worth of Bitcoin Cash was traded on exchanges in the last 24 hours. One Bitcoin Cash coin can now be purchased for about $281.15 or 0.04565162 BTC on major cryptocurrency exchanges including TOPBTC, Bittylicious, Mercado Bitcoin and Binance. During the last seven days, Bitcoin Cash has traded up 3.5% against the US dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

  • Bitcoin (BTC) traded up 2.2% against the dollar and now trades at $6,167.35 or 1.00000000 BTC.
  • Steem (STEEM) traded 4.8% lower against the dollar and now trades at $0.30 or 0.00004824 BTC.
  • Unobtanium (UNO) traded 11% higher against the dollar and now trades at $136.33 or 0.02213668 BTC.
  • Namecoin (NMC) traded 20.5% lower against the dollar and now trades at $0.79 or 0.00012916 BTC.
  • Counterparty (XCP) traded down 14.5% against the dollar and now trades at $1.99 or 0.00032296 BTC.
  • Crown (CRW) traded 3.6% lower against the dollar and now trades at $0.12 or 0.00001925 BTC.
  • Terracoin (TRC) traded 66% higher against the dollar and now trades at $0.0309 or 0.00000502 BTC.
  • ATBCoin (ATB) traded up 2.7% against the dollar and now trades at $0.0120 or 0.00000195 BTC.
  • CHIPS (CHIPS) traded flat against the dollar and now trades at $0.0205 or 0.00000392 BTC.
  • Zetacoin (ZET) traded down 3.2% against the dollar and now trades at $0.0020 or 0.00000033 BTC.

Bitcoin Cash Profile

Bitcoin Cash is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on August 1st, 2017. Bitcoin Cash’s total supply is 17,773,525 coins. The Reddit community for Bitcoin Cash is /r/Bitcoincash and the currency’s Github account can be viewed here. Bitcoin Cash’s official message board is bitcointalk.org. Bitcoin Cash’s official website is www.bitcoincash.org. Bitcoin Cash’s official Twitter account is @bitcolncash and its Facebook page is accessible here.

Bitcoin Cash Coin Trading

Bitcoin Cash can be purchased on these cryptocurrency exchanges: CoinExchange, Cryptopia, Bibox, Crex24, Koinex, Mercado Bitcoin, Bitso, Bithumb, CoinBene, Bleutrade, Braziliex, C2CX, Stocks.Exchange, Koineks, Bitinka, Poloniex, Tidex, B2BX, Gate.io, Coinroom, CoinEgg, ZB.COM, Liquid, Coinbase Pro, Coinrail, Huobi, ABCC, Bitbank, Allcoin, CoinFalcon, xBTCe, UEX, Bitbns, CryptoBridge, BiteBTC, Iquant, WEX, Independent Reserve, DSX, Bitfinex, Coinbe, DragonEX, QuadrigaCX, Binance, Bittrex, BitForex, COSS, CEX.IO, Vebitcoin, Korbit, Altcoin Trader, ChaoEX, ACX, Zebpay, Coinsquare, bitFlyer, Trade By Trade, WazirX, Zaif, Exmo, Trade Satoshi, BX Thailand, BTC Trade UA, FCoin, BTCC, Coinnest, Koinim, Bitstamp, Coinhub, GOPAX, BitBay, RightBTC, IDCM, Fatbtc, HitBTC, CPDAX, Negocie Coins, Stellar Decentralized Exchange, Indodax, MBAex, Bit2C, Coinfloor, Waves Decentralized Exchange, Cobinhood, Ovis, BitMarket, Kraken, EXX, YoBit, Sistemkoin, Bittylicious, OKCoin International, Bit-Z, Cryptomate, Gatecoin, Liqui, Mercatox, Kuna, Coinsuper, Bitsane, QBTC, CoinTiger, BtcTrade.im, BTC Markets, Kucoin, Buda, Livecoin, TOPBTC, SouthXchange, Instant Bitex, Cryptohub, BigONE, Coindeal, CoinEx, Exrates, Upbit, Bisq, Graviex, OKEx, OTCBTC, cfinex, HBUS and Coinone. Investors seeking to acquire Bitcoin Cash using U.S. dollars directly can do so using Changelly, Gemini or GDAX.

Receive News & Updates for Bitcoin Cash Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for Bitcoin Cash and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

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Bitcoin Cash Price Changed by -0.37 percent

Bitcoin Cash BCH/USD on Bitstamp exchange is 281.89. The trading volume on Bitstamp is 3263724.00. Bitcoin Cash BCH/BTC on Bittrex exchange …

As at 2019-05-09 average Bitcoin Cash price is 284.38589325 USD, 0.04642163 BTC, 1.68461047 ETH.

In this regard, 24 hour trading volume is 912999320.60700000 USD or 149033.11893256 BTC. At the same time Bitcoin Cash market capitalization is 5054415506 USD or $825055 BTC.

Bitcoin Cash BCH/BTC on bitFlyer exchange is 277.95. The trading volume on bitFlyer is 42417.00.

At the same time Bitcoin Cash BCH/KRW on Bithumb exchange is 282.84. The trading volume on Bithumb is 7526625.00.

Bitcoin Cash BCH/MXN on Bitso exchange is 280.76. The trading volume on Bitso is 28450.00.

Bitcoin Cash BCH/USD on Bitstamp exchange is 281.89. The trading volume on Bitstamp is 3263724.00.

Bitcoin Cash BCH/BTC on Bittrex exchange is 283.94. The trading volume on Bittrex is 925519.00.

It’s noteworthy that is issued into circulation Bitcoin Cash.

Bitcoin Cash average change within 24 hour is -0.37 against USD, -2.88 against BTC, 0.62 against ETH. Weekly report: 5.32 against USD, -4.93 against BTC, 1.43 against ETH. Monthly report: -5.67 against USD, -19.83 against BTC, -0.71 against ETH.

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Bitfinex Has Already Raked in $1 Bln for Its IEO via Private Sale

As reported by U.Today, Bitfinex decided to launch its own IEO called LEO in order to get out of its predicament. By issuing 1 bln LEO tokens and …

Jihan Wu, the former CEO of mining juggernaut Bitmain, will visit Moscow in order take part in The Way Summit on May 18, a local industry outlet reports. Notably, he is heading to Russia right after Consensus, the main crypto event of the year that will take place in New York on May 13-15.

A high-profile cryptocurrency event

Bitmain, the biggest mining company, opened its office in Russia back in 2018. Now, the Beijing-based behemoth continues to focus on one of the biggest cryptocurrency markets in the world.

During the upcoming speech, Wu will touch upon the centralization issue that remains a hot topic in the Blockchain community. Bitmain faces a lot of criticism due to its near-monopoly status in the crypto mining industry.

Other notable speakers that will appear in Vegas City Hall include ‘Bitcoin Jesus’ Roger Ver and Accenture’s Mike Spellacy.

Russia bets big on Blockchain

Blockchain and cryptocurrencies are riding a new wave of interest in Russia. Vladimir Mau, the Russian economist who has been a member of Gazprom’s Board of Directors since 2011, recently said that cryptocurrencies do have a future. Shortly after that, Gazprom CEO Alexey Miller discussed the potential of Blockchain with Russian Prime Minister Dmitry Medvedev.

On Apr. 3, Miller announced that the state-owned gas giant could soon start utilizing the disruptive DLT technology in order to execute business contracts and keep track of them.

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Bitcoin Price Finally Breaks Above $6000, Bitcoin SV Spikes 10 Percent After Binance Hack

Speaking of the broader market, Bitcoin SV, the controversial fork of Bitcoin Cash that currently occupies 14th place on CMC has surged by 10 percent …

The price of Bitcoin continues its incremental growth, reaching a pivotal point of $6,000. Thus, the king of crypto has hit its highest price in six months.

The biggest coins by market capitalization

Bitcoins trumps altcoins and surges above $6,000, image by CoinMarketCap

Bitcoin outperforms altcoins

At the time of writing, the price of Bitcoin is sitting at $6,090.43 after a 3.67 percent increase over the last 24 hours. Notably, Bitcoin is the top gainer insider the top 10. Altcoins, which are usually prone to more volatility, haven’t recorded any significant price moves.

Binance Coin, the native token of Binance, is still bleeding after the exchange suffered a $41 mln hack on May 8. The price of Ripple’s XRP remains remarkably stable at $0.30 while USDT Tether has slightly dipped below the $1 mark after appearing at the epicenter of two major scandals.

The total market cap is inching closer to $190 bln with Bitcoin being responsible for 56.9 percent of that figure.

Bitcoin SV thrives after the Binance hack

Speaking of the broader market, Bitcoin SV, the controversial fork of Bitcoin Cash that currently occupies 14th place on CMC has surged by 10 percent amidst the Binance FUD. As reported by U.Today, Binance CEO decided to delist BSV after a spat with Craig Wright, the self-proclaimed Satoshi Nakamoto.

Bitcoin SV gains 10 percent

Craig Wright gets his revenge after the Binance hack, image by CoinMarketCap

Meanwhile, its bigger brother Bitcoin Cash is on the cusp of testing $300 once again after a minor 2.64 percent price uptick that allowed it to break above two resistance levels.

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