Chinedu Toni, Author at LightBlocks Media

Shenzhen: Chinese city continue to endorse Digital yuan through festive lotteries

Shenzhen: Chinese city continues to endorse Digital yuan through festive lotteries

Shenzhen has launched its third round of central bank digital currency pilots as part of an advertising lottery program that distributes flyers to residents during local...

key reasons Bitcoin unexpectedly declined to $35k overnight

cryptocurrency3 days ago

key reasons Bitcoin unexpectedly declined to $35k overnight

Bitcoin price fell sharply overnight, and three factors could be responsible for the unexpected decline. Overnight, the price of Bitcoin (BTC) fell sharply from $37,800 to...

Gatehub Crypto Exchange assures support for XRP, unless verdict confirmed it a security

cryptocurrency1 week ago

Gatehub Crypto Exchange assures support for XRP

Although the US Securities and Exchange Commission has filed a lawsuit against Ripple over the sale of XRP, which is referred to as unregistered securities, Gatehub...

financing bill submitted in the US House of Representatives

cryptocurrency1 week ago

Crypto anti-terrorism financing bill submitted in the US House of Representatives

A bipartisan group of representatives has submitted a bill to the House to set up a task force to combat the financing of terrorism through cryptocurrency....

eToro plans to impose limits on Crypto trading over the weekend eToro informs users that there may be restrictions on crypto trading on weekends The cryptocurrency market is in a full bull market and companies offering cryptocurrency transactions are struggling to keep up with the huge demand for cryptocurrency assets. EToro, a major broker that supports trading in cryptocurrencies and other assets like stocks, ETFs, and commodities, said if demand doesn't cool, it could cut cryptocurrency buying over the weekend. According to Bloomberg, eToro emailed its customers: "The unprecedented demand for cryptocurrencies coupled with limited liquidity is challenging our ability to support buy orders on weekends. In light of this, we may need to place restrictions on cryptocurrency orders on weekends." eToro to increase bid-ask spread According to eToro, the weekend is “the biggest challenge” in the infamous turmoil in the cryptocurrency market. Depending on market conditions, eToro can take various measures. The platform can temporarily limit how many crypto assets each clinic can own or restrict orders. The exchange also warned users that the bid-ask spread could be "much wider" than usual. Bloomberg reported that eToro's cryptocurrency trading volume increased 25x compared to last January. Recently, eToro closed its clients' margin cryptocurrency positions in Europe and increased the minimum deposit limit for its new users from $250 to $1,000 in order to keep demand on the platform at a manageable level. Even dedicated cryptocurrency exchanges like Coinbase and Binance have encountered technical problems when traders flood their platforms. On January 8, the trading price of Bitcoin hit a record high when the world's leading cryptocurrency hit nearly $42,000. After that peak, the cryptocurrency fell to $30,500 by Jan 11, suggesting that the price could fall quickly even in a bull market. Bitcoin has done very well today, up 10.7% to a price of around $38,500.

cryptocurrency1 week ago

eToro plans to impose limits on Crypto trading over the weekend

eToro informs users that there may be restrictions on crypto trading on weekends The cryptocurrency market is in a full bull market and companies offering cryptocurrency...