Join Our Mailing List
Monday May 29, 2023
Bitcoin (BTC) $27,810.45   Ethereum (ETH) $1,892.65
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Vendor Technology

BitcoinAverage removes Bitfinex from its bitcoin price index

Published by CryptoNinjas.net
04/19/2017

Well established blockchain asset data provider BicoinAverage.com has announced today they will be removing (for now) Bitfinex price data from their calculations. The company is known for its Bitcoin Global Price Index (GBX) used by many companies for BTC pricing data.

BitcoinAverage joins CME Group, BitMEX, and Deribit in dropping the exchange as they deal with issues that led to halting user bank wire deposits.

The data provider said the situation has forced their hand to temporarily remove the exchange from its calculations.

Shaun Gilchrist, CEO of BitcoinAverage said:

“For those who may not understand why this is an issue, there are still trades executing right? It comes down to the reason the trades are occurring. It could be argued (and is very likely), that a large portion of the trades are people converting USD to Bitcoin simply to reduce their exposure on the exchange, as currently this is the only way to remove funds. In turn this pushes the price up higher than other exchanges (at the time of writing this around $60), and we no longer believe this is a fair representation of the market price.”

BitcoinAverage like others is monitoring the situation and is looking to reintroduce the exchange when the issues are resolved. Being one of the largest BTC/USD exchanges in the world and well regarded, the situation has been a surprise on such sudden notice.

The index calculation change on the GBX is effective starting today.

6
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Bitfinex Derivatives lists perpetual swaps for ApeCoin (APE) and Gala (GALA)

03/23/2022
Bitfinex Derivatives lists perpetual swaps for ApeCoin (APE) and Gala (GALA)

Bitfinex Derivatives, a derivatives platform accessible through crypto exchange Bitfinex, today announced the launch of perpetual swap contracts for ApeCoin (APE) and Gala (GALA). Settled in Tether tokens (USDt), with up to 100x leverage,...

Read more

Crypto exchange Bitfinex adds FIX gateway connectivity

11/25/2021
Crypto exchange Bitfinex adds FIX gateway connectivity

Bitfinex, the popular crypto trading platform, has launched a Financial Information eXchange (FIX) gateway, a routing service using the FIX protocol that enables high-speed connectivity to the exchange. FIX is a language used largely...

Read more

Bitfinex introduces new Ripple, Monero and Terra perpetual swaps

09/09/2021
Bitfinex introduces new Ripple, Monero and Terra perpetual swaps

Bitfinex, the popular cryptocurrency exchange platform, today announced that  Bitfinex Derivatives has launched perpetual contracts for Ripple (XRP), Monero (XMR), and Terra (LUNA). All three contracts are now live with up to 100x leverage....

Read more

P2P bitcoin exchange Hodl Hodl to get liquidity boost and explore new solutions with Bitfinex

06/07/2021
P2P bitcoin exchange Hodl Hodl to get liquidity boost and explore new solutions with Bitfinex

The team of P2P bitcoin exchange Hodl Hodl, announced today it has entered a strategic partnership with its existing shareholder Bitfinex, the popular crypto exchange company. First of all, users of the Hodl Hodl...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Token.io launches new spin-out company focused on digital money solutions

Token.io launches new spin-out company focused on digital money solutions

12/10/2019
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
CoinFlip launches new self-custodial cryptocurrency wallet platform 'Olliv'

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

04/28/2023
Crypto exchange Deribit to launch zero-fee spot trading

Crypto derivatives exchange Deribit to launch zero-fee spot trading

04/20/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy