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Bitfinex releases new reporting tool; targets new investors by making trading easier

Arijit Sarkar

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Credit: Pixabay

In a market as volatile as cryptocurrency, experienced traders often lose grip following the multitude of its price fluctuations. As a result, various crypto-leaders are building specialized tools to provide a moderate level of guidance to the rising number of investors. Leading this space is Bitfinex, which has taken upon itself to ease crypto-trading through numerous platform releases, mobile app updates and token launches.

In their latest report, Bitfinex shared the launch of a new reporting tool for optimized trading. Available openly on GitHub, the latest tool hosts a key feature that displays USD equivalent values across all their users’ assets. The report mentions that the calculation takes into consideration the daily closing price on the trading pair/USD.

Source: Medium

Additionally, the above screenshot shows a new section labeled Average Win/Loss that displays the daily, weekly and monthly portfolio gains in USD or fiat currency. Moreover, the tool not only displays the total account balance, but also features the official release of its wallet, which was previously launched as a beta version.

Source: Medium

Although crypto-enthusiasts have exhibited their excitement towards the much-anticipated update from Bitfinex, the feature that’s making the most buzz is the Concentration Risk section, which displays the currency breakdown of the user’s portfolio.

While this development has reignited the comparison between Bitfinex and Binance, the healthy competition within the crypto-ecosystem is resulting in constant innovation.





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Bitcoin

Bitcoin falls by over 5% in an hour as major correction ensues; altcoins follow suit

Namrata Shukla

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Source: Pixabay

Bitcoin [BTC], the largest cryptocurrency in the world, revisited its glorious highs over the past few weeks. However, it would seem that Bitcoin is falling back to earth since the coin was falling by 5.88% in an hour, at press time.

The coin while falling by 5.88% over the hour, was being traded at $12,251 on Bitstamp exchange. The market cap of the coin was reported to be $224 billion and the 24-hour trading volume was $41.813 billion. Over the past 24 hours, BTC fell by 9.55%, while noting a growth of 35.78% over the week.

Source: Trading view

Source: Trading view

The Bitcoin community was rooting for the coin to cross $14k and after the strong bullish momentum showcased by the coin, the target was not a far fetched one. However, the crash suddenly pulled its price below $13k. Twitter user, @aquinastheory, explained the trend,

“First MA/EMA cross to the downside since June 2nd and the time before May 4th. Either new distribution/accumulation is gonna occur here within the next few days, weeks or we’re going down for sure. #bitcoin $btc #crypto #forexsignals”

Source: Twitter

Source: Twitter

The coin was highly traded on Binance with BTC/USDT pair, reporting a trading volume of $1.881 billion. BW.com followed Binance, noting a volume of $1.686 billion with BTC/USDT pair. The third place was taken by Huobi Global with BTC/USDT pair, with the volume reported to be $1.578 billion.





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