A total of $711.7 billion worth of cryptocurrency derivatives products were traded in August, as volumes went up 53.6% when compared to July. The figure represents a new all-time high for monthly derivatives trading volumes.

ETERBASE, a little-known European cryptocurrency exchange, suffered a security breach this week that saw hackers steal several cryptocurrencies from its hot wallets.

Cryptocurrency mining equipment manufacturer Canaan has announced its board of directors approved a share repurchase program of up to $10 million, or about 3.3% of its outstanding shares.

sponsored: A team of professional developers from Estonia is launching a new cryptocurrency exchange called Swep.io. Being extremely enthusiastic about making a name in the space, the Swep.io team has serious plans on improving and adding features into their brainchild.

Top stories in the Crypto Roundup today:

• Crypto Derivatives’ Monthly Volumes Hit New All-Time High Above $700 Billion
• Crypto Exchange ETERBASE Hacked for $5 Million
• Crypto Miner Maker Canaan Announces $10 Million Share Buyback
• SAND, ONG, and BZRX Are Moving the Crypto Market
• Sponsored: Meet the New Cryptocurrency Exchange Swep.io

Crypto Derivatives’ Monthly Volumes Hit New All-Time High Above $700 Billion: Report

 A total of $711.7 billion worth of cryptocurrency derivatives products were traded in August, as volumes went up 53.6% when compared to July. The figure represents a new all-time high for monthly derivatives trading volumes.

Data from CryptoCompare’s August 2020 Exchange Review shows derivatives volumes went up over 50$ in August, while spot volumes increased 49.6% to $944 billion over the same period. Derivatives now still represent just over 4% of the market share.

Top cryptocurrency derivatives trading platforms say significant increases in their trading volume in August: Huobi saw its volume climb 44.7% to $208.5 billion, while OKEx’s volume went up 69.1% to $190.8 billion. Binance’s went up 74% to $184.6 billion, while BitMEX’s volumes went up 43.6% to $72.5 billion.

These four cryptocurrency exchanges represented over 90% of the derivatives volume last month. Deribit’s options volumes remained steady compared to July, while institutional trading volumes on CME’s futures contracts increased 36.3%. CME’s options contracts saw their volumes increased 8.4%.

Crypto Exchange ETERBASE Hacked for $5 Million

ETERBASE, a little-known European cryptocurrency exchange, suffered a security breach this week that saw hackers steal several cryptocurrencies from its hot wallets.

Announcing the incident, ETERBASE revealed its addresses tied to BTC, ETH and ERC-20 tokens, XRP, TRX, XTZ, and ALGO were compromised. While the exchange did not reveal how much was lost to the hackers, The Block Research assets it was more than $5 million.

The ether and ERC-20 token address lost $3.9 million, while its XTZ address lost about $470,000. ETERBASE revealed it has contacted “all centralized exchanges that might be receiving illicit funds.”  It has also reported the security incident to law enforcement, and added it wants to “assure our clients that we are taking all necessary steps to ensure that the amount of their deposit does not suffer any damage as a result of a hacker attack."

Crypto Miner Maker Canaan Announces $10 Million Share Buyback

Cryptocurrency mining equipment manufacturer Canaan has announced its board of directors approved a share repurchase program of up to $10 million, or about 3.3% of its outstanding shares.

The China-based firm was listed on the Nasdaq exchange last year, and its shares have been consistently trading below their initial public offering price of $9 a share since then. They are currently changing hands for less than $2.

Canaan said it will buyback up to $10 million worth of its American depositary shares and or Class shares (each ADS represents 15 Class A shares)  directly over a 12-month period that starts on September 22.

The share repurchase program will be financed via the firm’s existing cash balance.

SAND, ONG, and BZRX Are Moving the Crypto Market

There are several tokens leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos who may have higher percentage changes.

The Sandbox (SAND) – The Sandbox’s SAND token has moved up 29% in the last 24 hours thanks to an announcement from leading cryptocurrency exchange Binance, which revealed it acquired virtual space within The Sandbox’s blockchain gaming platform. Binance acquired 4,012 LAND tokens, reportedly to host social gaming events.

Ontology Gas (ONG) – Ontology Gas is a token developed to serve as the gas of the Ontology (ONT) blockchain. ONT is a high-performance public blockchain whose main net launched n July 2018. Its price went up 25.7% in the last 24 hours after its developers launched a smart contract on the Ethereum network, allowing its users to swap ONT and ONG for eONT and eONG on the Ethereum blockchain.

bZx (BZRX) – BZRX, the governance token of the bZx protocol, has seen its price move up over 18.4% in the last 24-hour period after bZx relaunched lending and trading with an emphasis on security. The protocol was down after it was exploited via a flash loan.

Meet the New Cryptocurrency Exchange Swep.io

A team of professional developers from Estonia is launching a new cryptocurrency exchange called Swep.io. Being extremely enthusiastic about making a name in the space, the Swep.io team has serious plans on improving and adding features into their brainchild.

Swep.io users can already choose from more than 121 cryptocurrencies in order to proceed in exchanging cryptocurrency operations legally. Swep.io is a service that will unite services for the exchange of cryptocurrencies, as well as their safe storage, and will allow its clients to transfer funds to secure wallets within a short time frame.

Swep.io is a licensed platform for legal digital assets and cryptocurrency exchanges, which provides its users with legal, secure, and fast cryptocurrency swaps. You can choose from more than 121 coins, and the list of available coins is constantly expanding. 

The Benefits of Using Swep.io’s Services:

• The execution time on exchange usually varies from 1 to 30 minutes, depending on how quickly the transaction is confirmed by the network.

• While other services impose artificial limits on the exchange volumes, io allows the exchange of any amount at a time.

• Swep.io allows its clients to make operations with a fixed rate which is displayed to the client on the moment of transaction. Swep.io fixes the exchange rate in order to protect its customers from adverse market rate fluctuations. 
• Swep.io's technical support line is available 24\7. 

• Exchanges take their percentage of transactions as payment for their services. This percentage lowers potential revenue. For the exchange of any volume, io takes a single fair fee varying from 0.1% to 0.3%.

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State of the Crypto by Top Tier Exchange Volume

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