OKEx customers withdraw $ 400M in Bitcoin after exchange reopens

OKEx users withdraw $ 400 million worth of Bitcoin within 24 hours after the platform reopens. The exchange had suspended withdrawals since October 16 following the arrest of its founder.

End of the investigation and resumption of withdrawals

After a stay of five weeks of all withdrawals of users, the exchange platform cryptomonnaies OKEx resumed operations since Thursday, November 26 at 7am .

Bitcoin Millionaire suspended withdrawals on October 16 because one of the exchange’s hot wallet private key holders was targeted by an investigation by Chinese police .

The holder was later identified as the founder of OKEx, „Star Mingxing Xu“. The latter then claimed in a WeChat feed that the police investigation did not concern him, but that it was linked to a case involving a shell company he had bought in Hong Kong.

Following this case, OKEx planned to launch a compensation and reward program to express gratitude and convince customers to stay. This program includes discount cards denominated in Tether (USDT) and the division by two of the privilege thresholds associated with holding the native OKB token.

Massive withdrawal

Despite these efforts, the data shows that the compensation program has not convinced all users. A customer testimonial sums up the prevailing state of mind:

“While we believe that OKEx is still a trusted exchange, there will be a lot of uncertainties going forward . “

So, OKEx users have already withdrawn over 24,631 BTC, or around $ 400 million in just over a day.

Some analysts have linked the recent rise in BTC to a supply shortage due to the suspension of withdrawals on OKEx. However, the perfect timing of the price suspension and rise could be purely coincidental , said Ryan Watkins, Bitcoin analyst at Messari.

Stratégie d’investissement Bitcoin: regardez quels mois ont donné de mauvais rendements et pourquoi

Il s’agit de la deuxième partie d’un examen en trois parties d’une stratégie mensuelle de calcul de la moyenne des coûts en dollars. Dans la première partie, nous avons discuté de l’idée et vu quels trois mois ont donné les pires rendements en utilisant cette méthode. Dans cet article, nous verrons quels mois ont donné le genre de retours qui feraient un «meh».

En jetant à nouveau les bases, nous examinons la moyenne mensuelle du coût en dollars, c’est-à-dire acheter du Bitcoin chaque jour pendant tout le mois, puis comparer notre investissement au prix à la fin du mois pour déterminer si nous avons réalisé un profit ou non. Cela semble simple, non?

Meh revient

Pour cet ensemble de données, un «meh return» est celui qui est inférieur à 3 pour cent. Cela signifie que si le rendement mensuel n’était que de 3% supérieur à votre investissement initial, il est qualifié de «meh return». Cependant, je dois ajouter que ces mois sont vraiment ce qui a mûri le marché Bitcoin . Au cours de ces mois de rendement élevé, le marché, du point de vue des investissements, a été le moins volatil. Cela montre que même Bitcoin n’était pas un choix d’investissement erratique ou volatil en 2020, malgré son creux annuel de 3800 $ et son sommet annuel de 18500 $.

Revenir à l’ensemble de données – Trois mois ont vu des retours meh ou des retours compris entre 0 et 3 pour cent. C’était en mai, août et septembre. Malgré la réduction de moitié en mai et la reprise rapide des prix sur une base d’investissement quotidienne, le mois de mai est revenu presque à plat. La reprise plus forte en août, suivie d’un septembre modéré, a été plus plate qu’en mai, malgré un cours de plus de 10 000 $.

Voici comment les trois mois se sont déroulés

Encore une fois, faites très attention à la dernière rangée. Le mois d’août a donné des rendements négligeables de 0,2%, de 1,4% en septembre et de 2,3% en mai. Fait intéressant, les baisses de prix en août et en septembre, respectivement, ont été mangées par la stratégie de moyenne des coûts en dollars en raison de la plus grande quantité de Bitcoins achetés lorsque le prix a chuté. De même, alors que le prix augmentait régulièrement en mai, la quantité de BTC achetée a diminué, mais a tout de même donné un bénéfice marginal.

Avec les sous-performants et les meh-returners à l’écart, nous pouvons nous concentrer sur les sur-performants. Fait intéressant, malgré la hausse des prix en octobre et novembre, un autre mois a donné un rendement plus élevé. Restez dans les parages pour le savoir.

Record: There are now 150,000 Bitcoin worth USD 2 billion on Ethereum

Bitcoin on the Ethereum Blockchain

Sounds absurd, but it is so: In the meantime there are over 150,000 Bitcoin on Ethereum. Converted from Ethereum this number corresponds to a value of over 2 billion USD.
How can Bitcoin be on Ethereum?

Until some time ago, Bitcoin and Ethereum were two separate crypto-ecosystems that coexisted. Ethereum is generally smaller, but offers more practical applications. Bitcoin was and still is a robust protocol that is less usable but undisputedly has the highest capitalization.

Now it is possible to transfer crypto currencies from one system to another. The goal was to enable Profit Secret owners to participate in decentralized financial protocols. These often offer high profits, but are found almost exclusively on the Ethereum platform.

What is decentralized financing?

Decentralized financing is in contrast to the traditional financial market. It is based on money issued by the state and is therefore centralized. In contrast, decentralized financing is more flexible than traditional structures. Although it is still, by comparison, a „delicate plant“, this new area has been growing steadily since this year. In the meantime, donors around the world have already invested crypto-currencies worth USD 11 billion in decentralized financing.

This is how Bitcoin „came to“ the Ethereum platform

In order to bring the Bitcoin to Ethereum, a „synthetic representation“ of the Bitcoin is created there. This means that the „original“ Bitcoins are exchanged for a version of Bitcoin reproduced on the Ethereum platform.

A well-known example is „Wrapped Bitcoin“. Users transfer their Bitcoin to certain Smart Contracts and receive the Wrapped Bitcoin (WBTC) in return. The Wrapped Bitcoins in turn are secured by the „genuine“ Bitcoins paid in, i.e. they retain their value. In addition, the wrapped Bitcoins can be used as ERC-20 tokens on Ethereum.

Another similar example is tBTC. This works like the wrapped Bitcoins, but the Bitcoins are not stored centrally, but rather trustlessly and anonymously on the network itself.
What happens to the synthetic Bitcoins?

The synthetic Bitcoins can then be used by users on the Ethereum platform according to their wishes. One of the options is to make them available for decentralized financing. The donors receive fees for this. Thus, in addition to the general price increase, one can still have one’s Bitcoin work for oneself.

Later, the user can then reverse the process if desired and exchange his synthetic Bitcoin back for „real“ Bitcoin.