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Bitcoin News Roundup for Oct. 7, 2020
With BTC steady and central bank digital currencies getting closer, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 10:05 a.m. Published Oct 7, 2020, 4:00 p.m.
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With BTC steady and central bank digital currencies getting closer, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Nexo.io and Elliptic.
Today's stories:
Analysts Can't Agree on What Prompted Big Spike in New Bitcoin Addresses
New bitcoin addresses have spiked this month, with one industry exec pointing to traders moving funds off the legally troubled BitMEX exchange. Others disagree.
China Central Bank Official Reveals Results of First Digital Yuan Pilots
An official for China’s central bank unveiled usage statistics of state-backed digital currency trials held in three Chinese cities.
Inside the Estonian CBDC Experiment That Could Shape the Digital Euro
How the firm helping lead Estonia's central bank digital currency research is approaching a mass-market crypto coin.
Oman Central Bank Warns on Crypto 'Risk,' Singles Out Dagcoin
The central bank warned citizens and residents they use cryptocurrencies at their own risk.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
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