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Bitcoin News Roundup for Oct. 8, 2020
With trading volumes surging and DeFi slowing down, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 10:06 a.m. Published Oct 8, 2020, 4:00 p.m.
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With trading volumes surging and DeFi slowing down, 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:
Bitcoin Options Volume on CME Jumps 300% as Traders Take Bullish Bets
Trading volumes for CME bitcoin options surged as traders made bull call spreads anticipating a rally.
As DeFi Deflates, Ethereum Users Get Reprieve From Soaring Fees, Congestion
The popularity of decentralized cryptocurrency exchanges had backed up the Ethereum blockchain, raising questions about its ability to scale.
BitMEX CEO Arthur Hayes Leaves Role After US Charges
The parent group of BitMEX has announced an executive shakeup after U.S. authorities charged the firm over allegedly illegal conduct.
KPMG Airs Blockchain Solution to Help Corporates Offset Carbon Emissions
"Big Four" firm KPMG says its patent-pending blockchain solution will help organizations measure, report and offset their carbon emissions.
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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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XRP drops 4% as traders watch whether $1.88 support holds
Price stabilizes near recent lows after a volatile pullback from above $2.
What to know:
- XRP slipped nearly 4% as bitcoin fell below $88,000, with price action driven more by market structure and positioning than by changes to Ripple’s fundamentals.
- Spot XRP ETFs saw about $40.6 million in weekly outflows, suggesting institutional profit-taking and rotation rather than a loss of confidence in the asset.
- XRP remains range-bound in a tight consolidation between support around $1.88 and resistance near $1.93–$1.95, with fading volume pointing to a larger move once the current stalemate resolves.
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