The amount of funds in BitMEX wallets fell by 22.5%, and Binance exchange buys CoinMarketCap

Binance exchange buys CoinMarketCap analytics service

Binance, one of the largest cryptocurrency exchanges, has confirmed the purchase of the most popular analytical cryptocurrency portal CoinMarketCap.

The partnership will contribute to the development of the industry, said Binance CEO Changpeng Zhao.

“The acquisition will enable us to build on each other’s strengths, and further grow and instill transparency in the industry,” he added.

Carylyne Chan, former CMC’s chief strategy officer, will act as interim CEO, while and the former CMC’s CEO will stay as an adviser. According to The Block, the acquisition cost $300 million.

The amount of funds in BitMEX wallets fell by 22.5%

The popular BitMEX crypto platform has lost 22.5% of user capital after the March bitcoin price collapse, according to a study by Coin Metrics.

On March 13, just before the depreciation, about 315 thousand BTC was stored on the exchange’s wallets, but by the end of the month, the number dropped to 244 thousand. On the day of the bitcoin price collapse $1.1 billion worth of positions were liquidated, at the same time BitMEX was experiencing serious technical problems that did not allow many customers take measures to save their capital.

The exchange rate is significantly ahead of other platforms in terms of a decrease in funds, which may indicate a loss of confidence in it, experts suggest. Twitter users have a different opinion: the owners of the platform are reducing their own savings in BTC, which can lead to lower cryptocurrency prices.

Robert Kiyosaki: keep your savings in gold and bitcoin

The author of the book “Rich Dad Poor Dad” Robert Kiyosaki recommended getting rid of savings in U.S. dollars and investing in gold or bitcoin.

“Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god’s money or Bitcoin-people’s money,” he tweeted.

Kiyosaki added that the permissible ratio of public debt to GDP is 60% — while in the United States this figure is 110% and continues to grow.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store