CryptoCompare’s December 2019 Exchange Review found that top-tier cryptocurrency exchanges continue to lose market share to lower-tier competitors, and now represent less than 30% of the total volume in the crypto space.

Amun is launching the “world’s first” bitcoin exchange-traded product that will let investors benefit from negative price movements by shorting the flagship cryptocurrency, the “21 Shares Short Bitcoin ETC (SBTC).”

Miners representing little over one-third of the Bitcoin Cash hashrate have proposed a 12.5% “miner tax” on the blockchain’s block rewards to fund BCH developers. The “tax” would run for six months, garnering an estimated 20,588 BCH.

Top stories in the Crypto Roundup today:

• Top-Tier Crypto Exchanges Now Represent Less Than 30% of Total Volume
• Amun Launches Inverse Bitcoin ETP Allowing Traders to Short BTC
• Bitcoin Cash Miners Propose 12.5% ‘Miner Tax’ to Fund Developers

At the time of writing, bitcoin (BTC) is trading at $8,442.34 (-2.55%) with a daily Top Tier volume of $1.34 billion. As for ether (ETH), it is trading at $162.96 (-3.39%) with a daily Top Tier volume of $346.25 million. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,990.11 (-3.35%).

Top-Tier Crypto Exchanges Now Represent Less Than 30% of Total Volume

The aggregate trading volume of top-tier cryptocurrency exchange has dropped 26.26% last month, while the trading volume of lower-tier cryptocurrency exchanges dropped less than 20%.

CryptoCompare’s December 2019 Exchange Review shows that, according to CryptoCompare’s Exchange Benchmark, exchanges rated AA-B dropped to represent only around 27.,4% of the total market’s trading volume, while exchanges rated C-F increased their market share.

Overall, cryptocurrency trading platforms saw their trading volumes drop in December 2019, but the trend seeing lower-tier exchanges grow has kept on growing. CryptoCompare’s November reported showed the volume of top-tier exchanges dropped nearly 7% that month, while that of lower-tier platforms rose 3.7%.

In November, top-tier exchanges represented 31.4% of the total market, while in October they represented 33%. The Exchange Review report also covers cryptocurrency derivatives, pricing data, decentralized exchanges, and crypto-to-crypto and fiat-to-crypto analysis.

Amun Launches Inverse Bitcoin ETP Allowing Traders to Short BTC

Fintech firm Amun AG has launched a new inverse bitcoin exchange-traded product (ETP) that allows traders to short bitcoin, capitalizing on negative price movements of the flagship cryptocurrency. The new ETP, dubbed “21 Shares Short Bitcoin ETC (SBTC)” is listed on Switzerland’s SIX stock exchange.

Amun charges an annual management fee of 2.5% on the ETP, and has said it is reset at the end of each day. The performance is not rolled over every day, which means the ETP is “ideally suited to capture short term price movements of bitcoin for a short recommended period.”

With the launch of the new ETP, Amun has a total of 11 cryptocurrency exchange-traded products listed on stock exchanges. These are tired to various top cryptocurrencies, including bitcoin, ether, XRP, and others.

The SBTC ETP is, according to Amun’s co-founder and CEO Hany Rashwan, the “world’s first” inverse ETP for a cryptocurrency. Amun now manages a total of over $55 million in client assets.

Bitcoin Cash Miners Propose 12.5% ‘Miner Tax’ to Fund Developers

Miners on the Bitcoin Cash network have proposed a 12.5% ‘tax’ on the Bitcoin Cash coinbase block rewards to help fund developers of the Bitcoin Cash ecosystem. According to Jiang Zhuoer, CEO of BCH’s largest mining pool BTC:TOP, the funds would be provided for six months and would go to a Hong Kong-based corporation set up to legally accept and disperse the funds.

Zhuoer proposed the ‘miner tax’ could be implemented into Bitcoin Cash’s May 2020 protocol update. If so, it could see around 112.5 BCH go from miners to developers a day, meaning a total of 20,588 BCH would help develop the BCH ecosystem. At current prices, the total would be just under $7 million.

The proposal has already garnered support from large BCH mining pool, including Antpool, ViaBTC, Bitcoin.com, and BTC.com. Zhuoer himself admits the proposal is controversial, and even admits miners could orphan blocks that do not include the 12.5% developer donation.

“To ensure participation and include subsidization from the whole pool of SHA-256 mining, miners will orphan BCH blocks that do not follow the plan. This is needed to avoid a tragedy of the commons.”

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State of the Crypto by Top Tier Exchange Volume

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