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OPNX Obtains License for Crypto Trading Across EU

OPNX has obtained a virtual asset service provider license from Lithuanian authorities, allowing it to offer spot trading services throughout the European Union. The license signifies OPNX's commitment to regulatory compliance and adherence to the highest security standards. While additional licenses may be necessary for certain EU jurisdictions, OPNX is pursuing them to ensure comprehensive service availability. Despite past controversies, OPNX is determined to redefine its narrative and provide a reliable pathway for bankruptcy creditors to liquidate claims efficiently.

0xScope 2023 CEX Report: Binance accounts for 51.2% in terms of market trading volume, followed by OKX, Bybit and Bitget

According to the TechFlow report by 0xScope, in the 2023 CEX market, excluding Coinbase and Upbit which lack derivative business, Binance accounts for 51.2% of the market trading volume, OKEx accounts for 13.4%, Bybit accounts for 9.6%, and Bitget accounts for 7%.

Data: CEX spot market turnover increased by nearly 60% month-on-month in October, close to the level in April this year

According to The Block data, on November 6th, the trading volume of the CEX spot market in October reached 497.98 billion US dollars, an increase of nearly 60% from September's 311.93 billion US dollars. In addition, Binance's market share in the spot market in October was 40.47%, a decrease from September's 41.7%.

In October, the total transaction volume of Bitcoin and Ethereum on the chain increased by 34.8%, and the spot transaction volume of compliant CEX increased by 55.2%.

The Block Pro data shows that the total transaction volume on the Bitcoin and Ethereum chains, adjusted for October, increased by 34.8% to $196 billion, with Bitcoin chain transactions increasing by 45.7% and Ethereum chain transactions increasing by 20.1%. Adjusted stablecoin chain transaction volume increased by 19.2% to $554.6 billion; the issued supply decreased by 0.2% to $115.8 billion, with USDT and USDC market shares of 73.2% and 19.6%, respectively. In October, Ethereum NFT platform transaction volume increased by 2% to $267 million. Blur platform transaction volume has surpassed OpenSea for 9 consecutive months. In addition, compliant CEX spot trading volume increased by 55.2% to $291.2 billion. Binance has a market share of 69.2%, Coinbase has a market share of 10.7%, BTSE has a market share of 5.8%, Kraken has a market share of 5.6%, and LMAX Digital has a market share of 2.9%.

Coinbase shares fell 5% after hours

Cryptocurrency exchange Coinbase (COIN.O) released financial data showing that third-quarter revenue exceeded expectations, but trading volume declined for the second consecutive quarter. The stock price of the cryptocurrency exchange fell more than 5% in extended trading after the financial report was released, and the current trading price is $84.60.

Coinbase will suspend trading of Moss Carbon Credit (MCO2) tokens

Coinbase has announced that it will temporarily suspend trading of Moss Carbon Credit (MCO2) around 2:00 PM Eastern Time on November 14, 2023, based on recent listing review results. Trading on Coinbase.com (both simple and advanced), Coinbase Exchange, and Coinbase Prime will be suspended. The platform has converted the MCO2 order book to limit order mode, and limit orders can be placed and cancelled, and may be matched.

Backpack Launches Regulated Crypto Exchange in Dubai with VARA License

Backpack, a Solana-based NFT wallet app, has announced the upcoming launch of its regulated cryptocurrency exchange, Backpack Exchange, which has received a Virtual Asset Service Provider license for Exchange Services from the Dubai Virtual Assets Regulatory Authority. The exchange is built around technologies like zero-knowledge proof of reserves and multi-party computation and aims to prioritize investor protection and risk assurance. Backpack Exchange will initially launch in private beta for members of Coral's existing communities and plans to open to the general public in the first quarter of 2024, starting with spot trading of cryptocurrencies and later expanding to derivatives and margin trading.

Bittrex’s bankruptcy plan for U.S. operations receives court approval

Bittrex, a cryptocurrency exchange, has received approval from the bankruptcy court to close its US business. The bankruptcy judge approved Bittrex's bankruptcy plan at a hearing in Wilmington, Delaware, allowing the company to overcome its difficulties through a phased ending plan that will fully repay the remaining creditors. Bittrex, based in Seattle, stated that the bankruptcy application will not affect Bittrex Global, which provides services to customers outside the United States. The company's non-US business is headquartered in Liechtenstein. Bittrex lawyer Patricia Tomasco stated at a court hearing in September that approximately 36,000 customers withdrew about $143 million in cryptocurrency during the bankruptcy period.

Cumberland deposited 12,000 ETH to CEX, equivalent to approximately US$21.5 million

On October 30th, according to Lookonchain monitoring, crypto market maker Cumberland deposited 12,000 ETH ($21.5 million) into OKX and Coinbase within the past 20 minutes.

CEX trading volume reached US$443.27 billion in October, with Binance and Upbit ranking the top two

According to The Block data board, the cumulative trading volume of cryptocurrency exchanges from October 1st to now has reached 443.27 billion US dollars. Among them, Binance's spot trading volume in October reached 179.41 billion US dollars, ranking first. Upbit, a South Korean exchange, had a spot trading volume of 51.88 billion US dollars in October, ranking second. In addition, Bybit's spot trading volume from October to now has reached 31.99 billion US dollars. Coinbase's spot trading volume is 28.22 billion US dollars, and OKX's spot trading volume is 27.68 billion US dollars. In addition, the cryptocurrency spot trading volume of top platforms (7-day average) exceeded 24 billion US dollars on October 26th, reaching a new high since the end of March. Compared with the summer, the cryptocurrency market has experienced more significant fluctuations, as traders are paying attention to the headline news that a Bitcoin spot ETF may be launched, and supporters believe that this will create new channels for capital inflows. The Block data shows that the BTC Dvol (Deribit Bitcoin volatility index) has reached a new high since April.