Huobi and LakeBTC Added to CoinDesk Bitcoin Price Index
CoinDesk has added two exchanges, LakeBTC and Huobi, to its US dollar Bitcoin Price Index (BPI) and Chinese yuan BPI, respectively. These additions will be live as of 16:00 BST today, the 30th June. The move reflects the significant volumes traded by the exchanges and the importance of the Chinese market in terms of USD/BTC trading. LakeBTC cracks the top four USD-exchanges. CoinDesk has been closely monitoring Shanghai-based LakeBTC in recent weeks. LakeBTC reports an even split between domestic and international customers, and it offers bitcoin trading in both USD and CNY, with the....
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LakeBTC has confirmed it has patched its system to stop this problem from happening again. UPDATE (28th October, 10:00 GMT): Information about a second data error lasting seven minutes on 27th October was added. The CoinDesk BPI spiked this weekend due to an error in the data reported by the LakeBTC exchange. From 09:18 UTC to 12:24 UTC on 26th October, LakeBTC's price ticker reported a bid value of $1,000. Immediately prior to this, the value was $351.34. A LakeBTC data caching issue caused its price ticker to show an erroneous, high, bid value. "We thought it was the trades but the trade....
LakeBTC's suspension has been extended for a further 30 days, ending on 30th January, 2015. UPDATE (2nd December 11:47am GMT): LakeBTC's suspension has been extended for a further 30 days, ending on 30th December. Data from bitcoin exchange LakeBTC will be suspended from inclusion in CoinDesk's Bitcoin Price Index from 3:00pm GMT today. This is an hour earlier than the original time of 4:00pm GMT. The move is a result of faulty price ticker data sent by the exchange this morning, 31st October, which supplied bid and ask values of $0 at 07:18 and 08:01 (GMT). This is the third instance of....
Two more exchanges, OKCoin and itBit, have been added to CoinDesk's USD Bitcoin Price Index. These additions will be live as of 15:00 GMT today, the 25th November. Both exchanges see a significant amount of USD-BTC trade. OKCoin's US dollar trading volume over the 30-day period ended 11th November stood at 280,279 BTC. This figure amounts to 17.44% of the total volume on exchanges tracked by the BPI, according to data from Bitcoinity.org. The same measure for itBit stood at 57,727 BTC, or 4.17% of total volume. The other exchanges tracked by the BPI are Bitstamp, Bitfinex, BTC-e and....
Shanghai-based exchange LakeBTC says it has taken a step towards bypassing the delays and costs associated with international transfers by becoming a Ripple gateway. Previously, users around the world wired fiat money to LakeBTC's account directly. However, they may now deposit funds with a Ripple gateway in their local area in any currency, and transfer it to a LakeBTC USD account via the Ripple network instead. The same applies to withdrawals. CEO Thomas Xie told CoinDesk the decision to add the Ripple network transfer option was the result of customer demand and a dissatisfaction with....
We sat down with LakeBTC recently to find out what it was they were working on - here's what we spoke about... First of all, tells little bit about what LakeBTC is all about. LakeBTC: LakeBTC was started in March 2013 as a bitcoin exchange. The founding team came from financial industries and most of our early users were seasoned traders and other financial professionals from prop and flow desks of hedge funds, investment banks, and commercial banks. The years of experience trading bonds, currencies, commodities, equities, and all types of derivatives and structured products helped us....