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Meet The Kraken Bank Executive Team: CEO David Kinitsky

First revealed last September, Kraken is quietly hard at work gearing up to launch Kraken Bank. This exciting new venture is helping to shape the landscape for both Bitcoin and other cryptocurrency services – and the banking industry – well into the future. 

While we can’t reveal all the details yet, we sat down with Kraken Bank CEO David Kinitsky to get a glimpse into how he’s leading the charge to ensure the next generation of financial firms are built with the next generation of assets in mind. 

David brings more than 15 years of experience in cryptocurrency and financial services. He helped launch a streak of innovations with Grayscale, Fidelity, Circle, SecondMarket, and the private investment funds he’s managed.

He’s full of industry knowledge and always adds a colorful perspective to the conversation. Enjoy!

Hi David! You worked at some of the biggest names in the industry. How did you get into crypto, what were those experiences like?

I first came across Bitcoin when I was working at a company called SecondMarket, which would become Digital Currency Group, one of the largest players in this industry. SecondMarket built marketplaces for illiquid, esoteric, and emerging assets. Eventually we got into Bitcoin and sold the legacy business to NASDAQ. 

I took the lead in setting up Grayscale, structuring it’s first and flagship product – the Bitcoin Investment Trust – and served as GM of the business, which I ran for the next couple years. Today, Grayscale is the largest digital asset manager in the world with some $25-30 billion assets under management. (Big shout out to the team over there that took the baton, executed with remarkable consistency, and grew it into the juggernaut it is today.)

I left Grayscale to join Fidelity as their first digital asset hire, helping them to develop their strategy in the crypto space. I also ran a proprietary crypto fund there as a co-portfolio manager alongside the team that now runs Castle Island Ventures, an early stage VC firm focused on crypto.

My next stop was at Circle where I helped to restructure their business, refocus it around their USDC stablecoin, and relaunch with their payments/treasury platform.

Finally, when I saw Kraken pursuing the SPDI bank, I jumped at the opportunity and went all in, moving along with my family to Wyoming where the bank is based. It’s important infrastructure for Bitcoin and crypto, and is also reshaping traditional banking and financial services.

There is a lot of discussion about regulating cryptocurrencies. What do you find fascinating about bitcoin in this respect and how do you look at regulation of the space?

There’s not just a lot of discussion about regulating, there’s real regulating going on already. I sometimes hear this misunderstanding that crypto is not regulated. It’s regulated in the same way we regulate most financial services and other industries – by regulating the services providers and the actions taken by users. Just look at crypto companies and the licensure/registrations they maintain.

We should want to be especially smart about how we regulate these crypto companies as compared to their more traditional counterparts. There’s a key distinction to consider. In traditional financial services – say banking or brokerage or whatever – end users have no other alternative to access these services. They can’t opt out. If you want to send money across space and time, you need a bank or other financial service provider. Crypto is different. Users can receive, hold, and send their own assets themselves. It may be clunky for some, but they can do it. So there is some level of burden above which users will just not use the key nexus through which regulation is enforced. And the first ones to leave are the “bad guys” you want to be able to oversee.

I’ll also say that crypto provides new tools and abilities. For example, financial institutions can incorporate verifiable proof of reserves or to build other auditable assurances into their operations to ensure they’re solvent and doing what they say they are.

I’m optimistic that we’ll be able to thread the needle on the right regulation in the long term, and just hope we don’t shoot ourselves in the foot nearer term.

What about political and public opinion? How is Bitcoin and crypto currently being viewed and how might that affect its status and regulation?

It’s a good question. Absolutely foundational. After all, law and regulation arise out of policy objectives that take into account certain cost-benefit tradeoffs. Historically, we haven’t been able to have these serious conversations about Bitcoin or crypto here in the US because of some absolutist or ill-informed opinions. 

The most common is that there’s no use case other than speculation or illicit activity, and no reason to make any accommodations within the existing system. I do think that more recently – especially in this macro environment – there’s an increasing appreciation for the benefits that Bitcoin provides as a store of value and in terms of censorship resistance, as well as an openness to the other opportunities crypto could create in the future. There’s also starting to be some recognition that Bitcoin and crypto will continue to operate regardless, and will simply do so outside of the existing financial system if we don’t pave a path for them within it.

Another is that they’re necessarily adversarial to America somehow, or simply incompatible with our laws, regulation, and institutions. But, Bitcoin is as American as apple pie. Its values are exactly the same as American values – free speech, free association, free enterprise, individual liberty, property rights, and so on – all the principles this country was founded on and the engines for growth throughout our history. And either way, the fact is that Bitcoin exists and other countries are getting involved. It’ll be critical that the U.S. maintain a position in this emerging industry to ensure its global competitiveness and national economic security.

What is it about Kraken Bank that makes this a venture worth building? 

I do actually think that this initiative has some symbiotic elements to it, but – and maybe it’s gauche to say these days – we’re building Kraken Bank because it achieves some very clear organizational objectives of ours. 

It provides the business with better legal/regulatory positioning, improved infrastructure and resultant customer experience, and more product/market opportunities. More broadly, it supports Kraken’s mission of promoting crypto adoption to enable more financial freedom, by seamlessly connecting crypto all the way down to the bottom of the financial services stack, which is entirely buttressed by banking. It puts us in a position to help shape the future of banking and it incorporates crypto.

Finally, I’m excited to help develop the ecosystem right here in Wyoming. Banks have always played important roles and re-invested within their communities. Kraken will be no different. We’re not carpetbaggers. We want to be connected to communities where, and with which, we conduct business – and to build something special together. 

Want to help? Kraken and Kraken Bank are actively hiring, with new jobs posted periodically on the company’s careers page.  If you don’t see a role at the bank that’s right for you today, stay tuned for more listings soon!

Thank you David. 

-The Kraken Team

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Kraken

Kraken Daily Market Report for February 24 2021


Overview


  • Total spot trading volume at $2.43 billion, up 18% from the 30-day average of $2.06 billion.
  • Total futures notional at $742.6 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Strong returns from Augur (+22%), Icon (+20%), Lisk (18%), and Compound (18%).

February 24, 2021 
 $2.43B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$50855. 
↑4.0% 
$927.5M
ETH 
$1694.5 
↑7.3% 
$442.0M
USDT 
$1.0009 
↑0.06% 
$308.7M
ADA 
$1.0666 
↑11% 
$140.5M
DOT 
$36.359 
↑5.2% 
$112.8M
USDC 
$1.0002 
↑0.01% 
$58.0M
XDG 
$0.0552 
↑16% 
$46.8M
XRP 
$0.4888 
↑2.7% 
$45.1M
LTC 
$187.16 
↑5.4% 
$44.2M
LINK 
$28.266 
↑8.8% 
$43.1M
BCH 
$546.64 
↑5.9% 
$19.9M
ATOM 
$20.971 
↑4.1% 
$17.4M
XLM 
$0.4278 
↑11% 
$17.0M
FLOW 
$22.203 
↑3.6% 
$14.8M
UNI 
$26.741 
↑7.6% 
$13.7M
GRT 
$1.9695 
↑16% 
$13.2M
AAVE 
$398.38 
↑9.2% 
$9.83M
ALGO 
$1.1312 
↑12% 
$9.67M
KSM 
$259.95 
↑8.0% 
$9.22M
XMR 
$218.18 
↓1.3% 
$9.14M
DASH 
$253.84 
↑9.8% 
$8.88M
EOS 
$4.0463 
↑5.0% 
$8.57M
XTZ 
$3.8502 
↑8.5% 
$8.23M
TRX 
$0.0492 
↑9.5% 
$4.84M
DAI 
$1.0012 
↓0.01% 
$4.78M
ICX 
$1.7515 
↑20% 
$4.63M
QTUM 
$5.5107 
↑7.1% 
$4.55M
SNX 
$20.534 
↑13% 
$4.44M
OMG 
$5.0897 
↑8.7% 
$4.29M
BAT 
$0.5229 
↑9.5% 
$4.29M
SC 
$0.0113 
↑3.3% 
$3.78M
WAVES 
$10.304 
↑10% 
$3.76M
NANO 
$6.0203 
↑16% 
$3.59M
YFI 
$36385. 
↑8.8% 
$3.55M
ZEC 
$131.65 
↑3.6% 
$3.33M
FIL 
$37.762 
↑6.3% 
$3.21M
COMP 
$452.55 
↑18% 
$2.38M
OXT 
$0.5371 
↑8.4% 
$2.12M
ETC 
$12.339 
↑8.4% 
$2.07M
LSK 
$3.1380 
↑18% 
$1.93M
KAVA 
$3.7965 
↑17% 
$1.57M
MANA 
$0.2622 
↑13% 
$1.53M
REP 
$35.637 
↑22% 
$1.49M
CRV 
$2.2995 
↑7.7% 
$1.45M
KNC 
$1.7123 
↑6.8% 
$982K
MLN 
$41.951 
↑12% 
$834K
PAXG 
$1804.9 
↓0.2% 
$778K
KEEP 
$0.3739 
↑10% 
$710K
STORJ 
$0.6370 
↑12% 
$670K
ANT 
$4.7319 
↑10.0% 
$576K
BAL 
$40.659 
↑16% 
$568K
GNO 
$141.23 
↑11% 
$508K
REPV2 
$26.630 
↑8.9% 
$274K
TBTC 
$54060. 
↑9.8% 
$244K

The post Kraken Daily Market Report for February 24 2021 appeared first on Kraken Blog.

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Kraken

Kraken Daily Market Report for February 23 2021


Overview


  • Total spot trading volume at $4.67, an all-time high, and 131% higher than the 30-day average of $2.02 billion.
  • Total futures notional at $1.93 billion, another all-time high.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Besides DAI (+0.8%), all coins posted losses: Bitcoin (-10%) and Ethereum (-14%).

February 23, 2021 
 $4.67B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$48687. 
↓10% 
$1808.2M
ETH 
$1531.5 
↓14% 
$876.7M
USDT 
$0.9994 
↓0.13% 
$341.1M
ADA 
$0.9409 
↓15% 
$282.6M
DOT 
$32.663 
↓13% 
$213.4M
XRP 
$0.4689 
↓17% 
$152.9M
LTC 
$180.83 
↓13% 
$97.5M
LINK 
$26.033 
↓18% 
$93.1M
USDC 
$1.0000 
↓0.01% 
$73.8M
XLM 
$0.3893 
↓16% 
$51.2M
BCH 
$538.95 
↓15% 
$49.7M
XDG 
$0.0491 
↓8.7% 
$37.9M
ATOM 
$18.090 
↓15% 
$36.1M
UNI 
$22.194 
↓20% 
$27.5M
GRT 
$1.6538 
↓18% 
$25.1M
XTZ 
$3.5099 
↓18% 
$24.0M
KSM 
$246.61 
↓8.7% 
$23.9M
EOS 
$4.0074 
↓15% 
$23.1M
ALGO 
$0.9438 
↓18% 
$19.0M
AAVE 
$330.25 
↓18% 
$18.9M
DASH 
$228.07 
↓16% 
$18.0M
FLOW 
$19.431 
↓14% 
$16.5M
TRX 
$0.0464 
↓15% 
$15.4M
XMR 
$193.67 
↓14% 
$15.1M
DAI 
$1.0074 
↑0.8% 
$13.8M
ZEC 
$123.76 
↓15% 
$11.7M
WAVES 
$9.2355 
↓13% 
$10.3M
FIL 
$35.329 
↓10% 
$9.9M
SNX 
$16.851 
↓20% 
$8.98M
OMG 
$4.6566 
↓16% 
$8.85M
QTUM 
$5.3018 
↓17% 
$8.67M
YFI 
$32753. 
↓17% 
$7.5M
BAT 
$0.4562 
↓17% 
$7.4M
SC 
$0.0097 
↓23% 
$6.63M
ICX 
$1.4570 
↓20% 
$6.52M
NANO 
$5.0061 
↓21% 
$5.96M
ETC 
$11.528 
↓18% 
$5.01M
OXT 
$0.5092 
↓15% 
$3.94M
COMP 
$367.43 
↓14% 
$3.7M
MANA 
$0.2200 
↓19% 
$3.21M
CRV 
$2.1115 
↓18% 
$3.04M
KAVA 
$3.4044 
↓21% 
$2.8M
LSK 
$2.6352 
↓22% 
$2.19M
KNC 
$1.6231 
↓18% 
$2.07M
REP 
$28.546 
↓15% 
$1.94M
PAXG 
$1816.7 
↓0.5% 
$1.45M
STORJ 
$0.5733 
↓22% 
$1.41M
BAL 
$34.447 
↓16% 
$1.13M
ANT 
$4.4228 
↓17% 
$1.04M
KEEP 
$0.3569 
↓11% 
$903K
MLN 
$39.722 
↓6.2% 
$676K
GNO 
$128.62 
↓12% 
$604K
REPV2 
$24.575 
↓23% 
$469K
TBTC 
$52073. 
↓3.6% 
$172K

The post Kraken Daily Market Report for February 23 2021 appeared first on Kraken Blog.

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Kraken

Kraken Daily Market Report for February 21 2021


Overview


  • Total spot trading volume at $1.21 billion, down from 30-day average of $1.81 billion.
  • Total futures notional at $500.6 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Strong returns from Flow (+23%) and Orchid (+15%).

February 21, 2021 
 $1.21B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$58276. 
↑4.1% 
$471.4M
ETH 
$1971.7 
↑3.0% 
$227.5M
USDT 
$1.0004 
↓0.04% 
$108.8M
ADA 
$1.1118 
↓0.28% 
$94.2M
DOT 
$39.400 
↑0.8% 
$68.1M
LTC 
$231.84 
↑2.0% 
$46.2M
XRP 
$0.5463 
↑6.6% 
$33.8M
FLOW 
$23.004 
↑23% 
$27.3M
USDC 
$0.9999 
↓0.01% 
$27.1M
XDG 
$0.0550 
↑1.9% 
$23.2M
LINK 
$34.847 
↑2.4% 
$21.4M
UNI 
$29.611 
↑2.3% 
$15.7M
BCH 
$722.83 
↑6.4% 
$15.2M
XLM 
$0.5013 
↑3.1% 
$11.1M
ATOM 
$21.387 
↓0.9% 
$10.3M
XMR 
$256.67 
↑0.5% 
$7.14M
DASH 
$301.07 
↑1.1% 
$6.62M
OXT 
$0.6957 
↑15% 
$6.57M
GRT 
$2.2553 
↓1.5% 
$6.42M
AAVE 
$444.25 
↑0.7% 
$5.53M
EOS 
$5.1935 
↑7.3% 
$5.52M
DAI 
$1.0008 
↑0.06% 
$5.4M
XTZ 
$4.7076 
↑1.5% 
$5.2M
ALGO 
$1.3073 
↓0.4% 
$5.2M
KSM 
$226.72 
↑2.2% 
$4.43M
TRX 
$0.0606 
↑5.0% 
$3.63M
ZEC 
$161.68 
↓1.5% 
$3.24M
ICX 
$2.0369 
↓0.9% 
$3.18M
FIL 
$44.440 
↑3.1% 
$3.08M
YFI 
$44396. 
↑4.8% 
$2.92M
QTUM 
$7.1999 
↑7.4% 
$2.9M
SNX 
$22.884 
↓1.4% 
$2.61M
SC 
$0.0134 
↑3.9% 
$2.55M
BAT 
$0.5862 
↑1.2% 
$2.35M
OMG 
$6.4183 
↑3.2% 
$1.83M
MANA 
$0.3093 
↑2.3% 
$1.8M
ETC 
$15.915 
↑5.3% 
$1.73M
CRV 
$2.9570 
↑2.0% 
$1.47M
TBTC 
$58876. 
↑1.9% 
$1.39M
NANO 
$6.8852 
↓0.07% 
$1.38M
COMP 
$466.64 
↑3.0% 
$1.22M
LSK 
$3.8652 
↑5.5% 
$1.18M
KAVA 
$4.7435 
↑2.5% 
$846K
STORJ 
$0.8466 
↑6.5% 
$809K
KEEP 
$0.4141 
↓0.3% 
$765K
WAVES 
$12.322 
↓1.6% 
$746K
REP 
$38.736 
↑3.1% 
$671K
KNC 
$2.1588 
↑4.3% 
$614K
PAXG 
$1806.1 
↓0.4% 
$573K
ANT 
$5.8836 
↑4.1% 
$549K
REPV2 
$35.946 
↑5.5% 
$512K
BAL 
$46.375 
↑0.21% 
$482K
MLN 
$46.890 
↓4.5% 
$406K
GNO 
$161.99 
↓0.4% 
$112K

The post Kraken Daily Market Report for February 21 2021 appeared first on Kraken Blog.

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Kraken

Kraken Daily Market Report for February 20 2021


Overview


  • Total spot trading volume at $2.65 billion, 45% higher than the 30-day average of $1.83 billion.
  • Total futures notional at $763.8 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Cardano, Polkadot, and Tether.
  • Strong returns from Uniswap (+50%), Cardano (+22%), Curve Dao (+17%), and Polkadot (+16%).

February 20, 2021 
 $2.65B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$56717. 
↑1.2% 
$844.2M
ETH 
$1976.1 
↑0.8% 
$589.8M
ADA 
$1.1333 
↑22% 
$318.1M
DOT 
$40.613 
↑16% 
$223.4M
USDT 
$1.0009 
↑0.04% 
$207.8M
XRP 
$0.5302 
↓6.6% 
$66.5M
LTC 
$231.95 
↓2.3% 
$61.5M
UNI 
$30.131 
↑50% 
$52.8M
LINK 
$35.243 
↑1.2% 
$51.6M
USDC 
$1.0000 
↑0.01% 
$42.6M
XDG 
$0.0555 
↑0.5% 
$38.3M
BCH 
$706.30 
↓2.1% 
$32.6M
AAVE 
$477.37 
↑13% 
$23.1M
GRT 
$2.4105 
↑11% 
$23.1M
XLM 
$0.5102 
↓0.9% 
$22.7M
ALGO 
$1.3919 
↑1.1% 
$22.2M
ATOM 
$22.991 
↑0.03% 
$19.5M
EOS 
$5.0666 
↓3.3% 
$17.0M
XTZ 
$4.8609 
↓2.6% 
$15.1M
XMR 
$259.73 
↓8.4% 
$14.6M
KSM 
$231.19 
↑2.5% 
$14.3M
DASH 
$310.22 
↓4.7% 
$14.3M
ZEC 
$169.78 
↓6.5% 
$13.3M
TRX 
$0.0596 
↓2.2% 
$12.4M
FIL 
$44.097 
↑1.6% 
$10.6M
YFI 
$44549. 
↓0.7% 
$8.87M
SNX 
$24.276 
↑8.1% 
$8.67M
DAI 
$1.0002 
↑0.01% 
$7.53M
CRV 
$3.0844 
↑17% 
$7.34M
FLOW 
$18.905 
↑0.7% 
$6.01M
BAT 
$0.5984 
↓2.8% 
$5.89M
SC 
$0.0136 
↑2.1% 
$5.01M
OMG 
$6.7008 
↑2.1% 
$4.9M
COMP 
$480.43 
↑6.2% 
$4.7M
WAVES 
$12.683 
↑0.6% 
$4.68M
ICX 
$2.1863 
↓4.3% 
$4.55M
ETC 
$15.568 
↑0.9% 
$4.46M
NANO 
$7.1604 
↓1.2% 
$4.35M
LSK 
$3.8049 
↓1.7% 
$3.7M
MANA 
$0.3105 
↓5.6% 
$3.02M
QTUM 
$7.0111 
↓4.0% 
$2.62M
OXT 
$0.6211 
↓4.8% 
$2.52M
KAVA 
$4.8716 
↓2.2% 
$1.96M
PAXG 
$1813.9 
↑0.04% 
$1.56M
KNC 
$2.1952 
↑0.14% 
$1.52M
REPV2 
$36.274 
↑1.8% 
$1.34M
REP 
$39.010 
↑3.0% 
$1.3M
BAL 
$49.774 
↑12% 
$1.17M
ANT 
$5.9158 
↓0.9% 
$916K
MLN 
$49.291 
↓0.9% 
$880K
KEEP 
$0.4199 
↑1.3% 
$726K
STORJ 
$0.8241 
↓2.7% 
$615K
GNO 
$165.68 
↑1.3% 
$445K
TBTC 
$58390. 
↑1.7% 
$146K

The post Kraken Daily Market Report for February 20 2021 appeared first on Kraken Blog.

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Kraken Daily Market Report for February 19 2021


Overview


  • Total spot trading volume at $2.09 billion, 15% higher than the 30-day average of $1.82 billion.
  • Total futures notional at $752.5 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Polkadot, and Cardano.
  • Bitcoin hit another all-time high (+8.4%). All-time highs were also hit for Dash (+15%), Dot (+12%), and several other coins (including Ethereum).

February 19, 2021 
 $2.09B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$55924. 
↑8.4% 
$994.3M
ETH 
$1959.1 
↑0.9% 
$359.9M
USDT 
$1.0005 
↑0.04% 
$188.7M
DOT 
$34.801 
↑12% 
$127.4M
ADA 
$0.9278 
↑1.2% 
$86.2M
XRP 
$0.5641 
↑5.5% 
$60.7M
LTC 
$236.74 
↑4.1% 
$50.3M
USDC 
$0.9999 
↑0.0% 
$41.7M
LINK 
$34.724 
↑6.5% 
$37.5M
XDG 
$0.0550 
↓7.0% 
$29.4M
BCH 
$719.86 
↑2.0% 
$29.1M
DASH 
$325.46 
↑15% 
$25.0M
TRX 
$0.0609 
↑11% 
$15.4M
ATOM 
$22.894 
↓1.1% 
$14.6M
XLM 
$0.5134 
↑3.0% 
$13.2M
AAVE 
$421.38 
↓4.8% 
$12.3M
XMR 
$282.25 
↑8.1% 
$12.1M
XTZ 
$4.9741 
↑2.3% 
$11.8M
EOS 
$5.2346 
↑8.3% 
$10.1M
UNI 
$20.084 
↓5.3% 
$10.1M
ALGO 
$1.3720 
↓2.2% 
$10.1M
KSM 
$225.29 
↑0.4% 
$9.65M
ICX 
$2.2845 
↑1.3% 
$8.21M
ZEC 
$180.86 
↑6.2% 
$8.12M
FLOW 
$18.788 
↓1.8% 
$7.62M
DAI 
$1.0001 
↓0.06% 
$6.65M
GRT 
$2.1650 
↓5.6% 
$6.56M
SNX 
$22.243 
↓4.4% 
$5.75M
NANO 
$7.2399 
↓3.3% 
$4.38M
YFI 
$44947. 
↑1.2% 
$4.04M
FIL 
$43.138 
↓0.9% 
$3.7M
SC 
$0.0134 
↑0.04% 
$3.66M
MANA 
$0.3284 
↑5.1% 
$3.5M
OXT 
$0.6527 
↑6.4% 
$3.34M
BAT 
$0.6133 
↓4.0% 
$3.29M
WAVES 
$12.570 
↑1.2% 
$3.17M
QTUM 
$7.2685 
↑1.5% 
$2.87M
OMG 
$6.5396 
↓0.4% 
$2.63M
ETC 
$15.392 
↑2.5% 
$2.61M
CRV 
$2.6330 
↓6.6% 
$2.51M
KAVA 
$4.9878 
↓1.2% 
$2.33M
COMP 
$451.30 
↓1.6% 
$2.3M
LSK 
$3.8713 
↑2.2% 
$2.26M
PAXG 
$1812.0 
↑0.9% 
$2.17M
KEEP 
$0.4146 
↓2.7% 
$958K
REP 
$37.821 
↓0.6% 
$885K
STORJ 
$0.8447 
↑5.2% 
$760K
MLN 
$49.990 
↑2.4% 
$744K
KNC 
$2.1917 
↓1.6% 
$733K
ANT 
$5.9653 
↓6.3% 
$683K
GNO 
$162.80 
↑5.1% 
$450K
BAL 
$44.219 
↓5.8% 
$394K
REPV2 
$35.792 
↑4.8% 
$349K
TBTC 
$57369. 
↑8.9% 
$203K

The post Kraken Daily Market Report for February 19 2021 appeared first on Kraken Blog.

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Kraken

Oxidizing Kraken

Simon Chemouil  –  Director of Engineering, Core Backend

For more than two years now, Kraken’s Core Backend team has been using Rust to modernize services originally written in PHP, while building new products, expanding the feature set and supporting the ever expanding increase in cryptocurrency trading activity.

Hi 👋! I’m Simon, the Director of Engineering at Kraken leading the Core Backend team.  I’d like to provide a retrospective of the Core Backend team’s usage of Rust the last two years and share our perspective building with it at scale. There are many great online resources explaining how Rust is different and why it is a great language. This is no such blog post, however. It is our hope that this article will be a helpful resource to companies considering building with Rust and to developers who want to invest the time learning the language.  Finally, this is also a massive thank you to all who helped make Rust possible, and a way for Kraken to contribute positively to this movement.

Rewriting Core Services

Often, building a solution from scratch to fix one problem leaves us with another. This is particularly common when the original developers are not part of the design and implementation of the new solution. Other times, the new solution is theoretically better, but takes too much time to be ready, slowing down progress on the system actively serving requests. While we can make sure to avoid these common pitfalls, it is important to challenge the need for a rewrite in the first place.

When Kraken was founded in 2011, PHP offered a mix of execution safety, speed and productivity. It is impressive to see how much functionality was built in the early days. However, Kraken has grown dramatically since, and it has become difficult to expand the PHP code base, share the know-how and make larger changes safely. These core services deal with distributed data storage, cryptography and information security considerations which are less likely to be common skill sets among PHP developers, who are generally more focused on building on existing Web and e-commerce frameworks.

More generally, Kraken has entered a stage of hypergrowth with which the code base and tools need to keep up. In this regard, dynamically typed programming languages are great to start building, but it becomes more difficult to maintain code as the code base and number of engineers grow. Strong types provide guarantees (and formal documentation) that enable fast development and more developers to work on a single code base.

Our key goals with a rewrite of core services were to:

  1. keep the system as secure as possible,
  2. make the system more maintainable and robust even as it grows larger,
  3. allow better performance.

It was acknowledged early in 2018 that remaining with PHP was not the best long-term solution to achieve these goals.

Why Rust?

Early 2018, Kraken already had production services written in Go and C++. While Rust promised performance, security and modern language constructs, picking it as the language to rewrite core services was a bet.

Kraken is very security-minded. As such, we prefer not to let C++ code run against user input. Even the best C++ teams in the world, like those building Windows™ or Chrome™, produce code where about 70% of CVEs are due to memory safety issues ‒such as use after free, buffer overflows, double free, that can lead to privilege escalation or accessing memory‒ that are completely prevented by languages such as Java, Go or Rust.

While Go protects against this specific class of vulnerabilities, it does not provide modern programming features like generics or sum types which ultimately lead to data modelling issues or repetitions. Kotlin provides a more elaborate type system and like Go, it makes asynchronous programming relatively easy, but comes with a Java ecosystem carrying a lot of legacy.

Enter Rust. Its reliability and performance has made it successful in cryptocurrency and blockchain projects. A few Kraken engineers started experimenting and saw it as an opportunity to build a lasting system that would match Kraken’s backend needs: performance similar to C++, modern language constructs helping to accurately model business logic and error cases, planned first-class support of asynchronous programming, compile-time thread safety, and a vibrant ecosystem. The value proposition of Rust and the demonstrated success of the community led Kraken to begin rewriting core services in Rust mid-2018.

Two years later

The Core Backend team has grown up and nowadays is in charge of both the modern Rust core services and the legacy PHP services that are still being rewritten. In the meantime, Rust has been successfully used by other teams: we’ve been joined by the Kraken Futures team who had independently started its migration to Rust for all of its backend stack, Cryptowatch has picked Rust for its desktop application, Kraken moved its cold storage system to Rust and the Kraken Digital Asset Bank is being built in Rust.  The language itself has improved significantly, making writing asynchronous network services easier than ever. 

Generally, we have been pretty busy: the Core Backend team’s Rust git repositories hold about 500,000 lines of code – more than PHP, even though many features are still implemented in PHP. This is partly due to writing more foundational code, tests and brand new features, but also to the fact that PHP, like other dynamically typed programming languages, does not require to type structure definitions, including errors, which make up for a sizable portion of the Rust code. Not having those explicit structures in PHP has made the rewrites almost an exercise in reverse engineering.

Tactically, we have decided to rewrite the exact same functionality in Rust: since all PHP services are stateless, it made it easy to port the logic, endpoint by endpoint, to Rust. This has allowed a freshly hired team to gain more knowledge about the underlying system and made an incremental roll-out as well as easy roll-backs possible. We have built a comprehensive integration test suite that needs to pass against both PHP and Rust services to ensure the behavior is similar. After a functionality is ported to Rust, it is easier and safer to extend.

While the primary goal of the rewrite was not performance, it is great to see Rust provide fantastic speed out of the box. Our Tokio-powered RPC servers, which were not particularly optimized (though we are generally careful with memory usage patterns), support a throughput of 150k request/second per instance while keeping p99.9 latencies below 3ms.  A system is as fast as its slowest parts, and while our PHP core services are not the only bottlenecks at Kraken, their IO performance is lower than Rust’s and they are more sensitive to load. After entire end-to-end paths have been migrated to Rust and bottlenecks eliminated, our clients should see dramatic improvements. In the meantime, we do everything to improve performance and reliability by moving endpoints to Rust, redesigning databases and scaling up services.

This is what happens to response times when an endpoint is ported to Rust

Rust for application services

Rust is often touted as a great systems programming language ideally suited to lower-level tasks, command-line utilities and network services such as load balancers. Many people consider Rust’s complexity a deal breaker for general business logic, and the job market pool too small to use the language for common tasks such as building a user management system or a REST API.

While Rust is a great fit for systems programming, we have also been using it for application services that are commonly implemented in languages considered higher-level such as Java, Ruby or TypeScript. Correctness is absolutely critical at Kraken, and Rust’s modern language constructs make it easier to write correct, robust code. The lack of garbage collection, often brought up as a downside for writing general logic that does not need to “care” about memory management, has not been a problem in practice, as we are building stateless services and storing cyclic data is never a concern.

However, Rust requires precision and I’d say this has been the most beneficial aspect of the language: its explicitness, supported by its strong type system, leads to expressive code that is easy to review and reliable at runtime. In that regard, I’d consider Rust both lower-level and higher-level than Java and other languages of the same category. The Core Backend team also develops some more technical services such as load balancers, or services monitoring streams, that require good performance, and it has been extremely practical not to have to switch between systems and application logic languages, and reuse libraries and patterns.

As the team and code base grow, the ability to review code effectively is critical. Rust is remarkable for making behavior very explicit in isolation, by which I mean it is not necessary to think as much about other parts of the system ‒ the current function is often enough. When reviewing code, we are presented with a diff (the lines that have changed and the surrounding context) and while one can take more time to dig into the changes, a faster review is a great motivator for developers who can get feedback rapidly. In Rust, I can be certain that a change that compiles will be both free of data races (a prominent root cause of concurrency bugs) and memory safe (we remain for the most part on safe Rust). I can easily spot functions that may lead to a panic ‒ Rust’s way of aborting execution when there is no alternative ‒, spot useless memory copies and in general gather the developer’s intentions. Clippy, Rust’s linter, helps unify code style and leads to a more idiomatic, consistent code base. I have reviewed thousands of merge requests these last two years with a much higher confidence than if it had been any other mainstream programming language.

Rust is a large, complex language and it is easy to get lost in details. Fortunately, it is not necessary to know all the minute details to be efficient. It is our experience that Rust is an extremely productive language: it has great tooling, forces us to thoroughly model problems, saving precious debug time and potential production issues, and is great for code-reuse ‒ a productivity multiplier. Finally, I feel it is necessary to debunk the “fighting the borrow checker” legend, a story depicting the Rust compiler as a boogeyman: in my experience, it happens mostly to beginners and the 1% trying to micro-optimize code or push the boundaries. Most experienced Rust developers know exactly how to model their code in a way that no time is wasted fighting the compiler on design issues, and can spot anti-patterns at a glance, just like most people know how to drive their car on the correct side of the road to avoid accidents, and notice those who don’t!

Building a Rust team

During these two years, we have built the foundations of the modern Kraken backend stack, rewritten existing functionality to Rust, built new Rust services and features, and also built the Core Backend team of 30+ engineers. A few developers were originally hired as PHP developers and have learned Rust as they joined the team. It is worth mentioning that Kraken is a globally distributed remote-first company, and the Core Backend team has Engineers of 15 nationalities working from 12 countries.

Rust attracts passionate developers, often interested in systems programming, distributed systems or cryptography. A good portion of our current Core Backend engineers are Rust enthusiasts who have discovered the opportunity through various Rust online resources, from Reddit to This Week In Rust where our job offers have been featured many times (thanks!), making Kraken somewhat known for hiring Rust developers for a long time.

Our Core Backend roles combine challenging technical and business problems in a very competitive market, remote working from all over the world with a high, location-independent base compensation and a generous option grant, and writing Rust almost full-time. This fact was not lost on the many candidates who have applied these two years and made it possible to build a world-class engineering team.

While we originally were open to hiring developers with interest but no hands-on experience in Rust, we have quickly realized it did not always pan out and that the learning curve depends on the individual. Interestingly, Rust attracts developers coming from very different languages, both statically and dynamically typed. It’s hard to say whether those coming from a specific background have a harder learning curve but some become effective in weeks while others still struggle after months. Those who are used to relying on documentation and have a formal understanding of semantics are most likely to catch up fast. Like many fast-growing companies, we need new hires to be able to help immediately on real issues. We thus require provable Rust experience and specifically test for a thorough understanding of Rust’s type system and practical knowledge of the standard library and common crates.

I believe that using Rust helps one become a better developer as it pushes for clean design and precision. However, knowledge of Rust alone does not make one a great engineer. A lot of candidates we have seen are ecstatic about Rust, but have limited experience building backend systems. We have hired many junior developers showing great potential because when growing a team, balance is key to success. Experienced developers are often great mentors: they usually carry the wisdom of keeping things simple, have learned not to trust themselves too much, and how to maximize their impact on the business line.

Considering how the language resolves pain points with C++, Java or Go, I’d expect more seasoned developers to make the jump. Coming myself from a decade of Java development, I appreciate healthy skepticism for overhyped new technologies, yet I would now dread returning to a language that does not match Rust’s qualities ‒ in particular how it lets me focus on the module at hand, instead of needing to constantly consider a number of implicit invariants like whether that piece of code is called from another thread, and the fact I’d need to make it thread-safe. We hope that with more companies now heavily investing in Rust ‒ from Discord and Deliveroo to Amazon and Microsoft ‒ we can help send a signal that there are many Rust jobs and that investing time to learn the language will not go to waste. Many seasoned developers will prefer to remain on the stack they are experts in, but some may still love trying to get away from their comfort zone and challenge themselves.

Rust is great, not perfect!

Rust has allowed us to build a lot of well-working, high performance production code. We have a large team where many people are working on very different parts of the backend. Most of that code has been incredibly robust: we have not experienced a single crash or panic (the rough equivalent of a runtime exception) of a Rust core service. All in all, I can say we only have had business logic issues, misconfiguration problems, and experienced a general performance issue linked to running Tokio on the musl libc with specific kernel configuration that was easily fixed once identified using the perf tool.

While the language is great, there are a couple of things widely acknowledged as limitations that have bitten us as well.

  • Ideally, each fallible function would have its own error enum to precisely capture its errors and handle them, but in practice it is too verbose and leads to using the less precise Error trait or one enum per module. The language could support this better: there are several initiatives and macros exploring this.
  • When designing a library crate, the lack of specialization and generic associated types (GATs) can be quite limiting.

We have been using async Rust first with Future combinators and using the async/await support as soon as it landed on nightly. It’s been an extraordinary feature that let us build massively concurrent applications using Tokio. We never had to spend much time to make our servers handle more than 10K concurrent connections or implement back-pressure. However, it can still get better:

  • Unlike most parts of Rust, async functions are a bit of a footgun as they look innocuously similar to regular functions, but may not be executed entirely (more precisely, the Future they return may not be polled to completion). This requires extra carefulness to handle clean-up logic, which cannot currently be asynchronous itself. The ongoing work to support asynchronous drop will hopefully provide a piece of the solution. It’s still an open question on how to make the problems more visible; could an  attribute make it clear the Future is cancelation-safe and a lint warning tell us otherwise?
  • Though it is getting better, the ecosystem has been badly hurt by the split of asynchronous frameworks. The language would greatly benefit from providing the constructs that would allow task scheduling subsystems to be abstracted without overhead, so one may choose to use their favourite executor, and pass down task executors down to libraries, or drive the Future themselves. 
  • The current design of statically initialized task executors makes it easy to run several executors by mistake by simply pulling a dependency. The generalized usage of thread locals makes debugging more difficult.
  • Being able to design asynchronous functions in traits without boxing, and to refer to the result type, would definitely be a great improvement in performance-sensitive code.
  • We are also hopeful to see work around io-uring result in great performance improvements hopefully without creating further splits of the ecosystem.

In terms of tooling, Cargo and Rustup have made setting up and compiling projects a non-concern. RustAnalyzer has improved spectacularly and provides a great IDE experience that will get even better. Compile times have generally reduced: they could be shorter but with incremental builds and sccache they aren’t too much of a time sink. Optimized builds are indeed slow, but overall a small price to pay for the performance and safety. A private Cargo registry with permissioning support would definitely help Rust in the enterprise. We have been running using git dependencies but the lack of semantic versioning support makes updates painful. There are a few open source Cargo registries out there, but Cargo itself does not support access tokens or credentials.  We’d love to sponsor that work.

Kraken ❤️ Rust

All things considered, Rust is very mature and most of its pain points would exist in one shape or another in other mainstream languages. Rust makes reuse trivial and lets us deal safely with large code bases under active development without sacrificing performance.

Using Rust is for us no longer an experiment or a bet. It is the proven technology we are building on, and the Core Backend team is looking for engineers to help. This picture would be incomplete without mentioning our team values beyond Rust: the Core Backend team extends Kraken’s culture ‒and the commitment to our mission‒ with the engineering values of Rust and a high-performance team culture influenced by Netflix. We believe in engineering beyond code, in ownership. We reject hubris. We constantly learn from each other. Our challenge is made greater by not sharing an office, and individuals who thrive are engineers able to move forward autonomously by being at the same time self-driven, deeply technical, able to bridge between requirements and technical solutions. We combine smart and hard work, but preserve a good work-life balance and stay healthy. We care about what we are building and help our teammates succeed.  We realize perfect is the enemy of good (Rust developers are notoriously perfectionists! 😉). Finally, we believe in constant self-improvement as a group: if something is broken, either technically or organizationally, we fix it.

We have openings in the Core Backend team for Mid-level and Senior Backend Engineers, as well as Site Reliability Engineers that help support and improve our operations, tooling and CI. We’re also hiring Software Engineers in Test to help us test our APIs with Rust and Cucumber.

Other teams at Kraken are also always looking for great engineers who have adopted Rust as their tool of choice to build robust and responsive systems:

  • The Kraken Digital Asset Bank is a Special Purpose Depository Institution that builds modern banking and payment systems in Rust, and is looking for senior engineers ;
  • The Kraken Futures team has been using Rust as their primary language for building derivatives trading for two years now, coming from Java and Kotlin, and are looking for backend engineers ;
  • Our Trading Technology team, building our spot trading, also runs a number of services both in C++ and Rust and is hiring backend engineers ;
  • Cryptowatch is also hiring Rust GUI developers as they build a lightweight desktop trading application.
  • Be sure to check our other openings!

Finally, we’d like to help Rust grow. We have already sponsored some open source work ‒ such as the iced GUI framework ‒ through our Kraken Grants program. We’d love to sponsor individual contributors to the Rust project or key related projects. If you are making important contributions to the Rust ecosystem and need funding, please reach out!  In the meantime, we have been impressed by the outstanding work carried out by the RustAnalyzer team that directly benefits the entire community, and will be donating 50K EUR to the project!

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Out With The Old, In With The New: Market Structure Analysis

Kraken Intelligence, Market Structure Report

VIP clients are the first to receive Kraken Intelligence reports. If you’d like early access to our latest research, sign up to trade with us today or ask your account manager for more details.

Retail investors have more information and more tools at their fingertips than ever before. 

But while charting tools, income statements and commission-free trading are empowering many, intermediaries continue to hold power over order execution and transparency, a structure that appears to tip the scales in favor of established investors.

Still, it’s not easy to understand how and when you might be putting your money at risk. 

That’s why Kraken Intelligence, our in-house research experts, has compiled a robust analysis of how markets are structured that examines both the issues inherent in traditional markets and how cryptocurrencies and digital assets level the playing field.

By downloading our latest report, you’ll gain new insights into the potentially unfair influences in traditional markets, how order flows really work and the promise the 24/7 crypto markets provide. 

Further, we’ll examine and demonstrate the advantages offered by crypto markets, looking at how these technological advances will force legacy markets to catch up.

Key Takeaways:

  • Order Flow & Process In traditional markets, when a participant places an order, there can be two to three intermediaries that hold influence over order execution. In crypto markets, your orders go directly to the exchange’s orderbook eliminating the opportunity for others to profit off of the order information.
  • Legacy Market Inefficiencies – Whether it’s the price of assets being inflated through central bank intervention or high-speed trading tactics affecting price, traditional markets carry risks and inefficiencies. Comparatively, crypto markets are driven by open-source code that gives equal access to everyone regardless of their portfolio size.
  • Potentially Dishonest Intermediaries – To participate in traditional markets, one has to work through a broker, advisor or other intermediary. In spite of regulations to protect participants, dishonest activity can occur and mechanisms such as suspended trading may put the retail participant at a disadvantage.
  • Tokenization and Autoliquidation – Blockchain technology is a major step forward for investment activities. Improvements in transparency, speed of settlement and automated systems could further reduce costs as well as opportunities for unscrupulous behavior.

Download Our Full Report

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Kraken Daily Market Report for February 17 2021


Overview


  • Total spot trading volume at $1.86 billion, above the 30-day average of $1.81 billion.
  • Total futures notional at $728.9 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Polkadot, and Cardano.
  • Strong returns from Bitcoin (+6.5%), which hit an all-time high. Also great returns from Monero (+17%), Icon (+14%), Kusama (+11%), and Keep (+12%).

February 17, 2021 
 $1.86B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$52411. 
↑6.5% 
$908.7M
ETH 
$1836.9 
↑3.0% 
$307.1M
USDT 
$1.0004 
↑0.03% 
$160.0M
DOT 
$31.754 
↑5.7% 
$101.5M
ADA 
$0.8850 
↑1.4% 
$68.2M
LTC 
$229.99 
↑9.3% 
$55.6M
XRP 
$0.5463 
↑4.7% 
$45.6M
USDC 
$0.9999 
↓0.01% 
$30.6M
LINK 
$32.335 
↑1.1% 
$29.7M
XDG 
$0.0510 
↓4.6% 
$27.7M
BCH 
$715.55 
↑1.3% 
$25.7M
XLM 
$0.5031 
↑3.5% 
$21.0M
XMR 
$259.97 
↑17% 
$20.8M
ATOM 
$25.008 
↓0.24% 
$18.4M
AAVE 
$439.13 
↑1.4% 
$18.1M
KSM 
$231.87 
↑11% 
$13.0M
ALGO 
$1.4114 
↑7.3% 
$11.3M
EOS 
$4.7789 
↑2.7% 
$9.54M
DASH 
$259.50 
↑4.0% 
$9.25M
GRT 
$2.1035 
↑1.7% 
$9.25M
XTZ 
$4.6972 
↑3.1% 
$8.85M
UNI 
$21.015 
↑2.7% 
$7.56M
FIL 
$43.403 
↑3.5% 
$6.72M
ZEC 
$169.22 
↑8.6% 
$6.12M
TRX 
$0.0530 
↑2.2% 
$5.8M
ICX 
$1.9681 
↑14% 
$5.14M
YFI 
$43017. 
↑0.07% 
$5.1M
FLOW 
$17.052 
↓11% 
$5.01M
SNX 
$23.968 
↓0.4% 
$4.9M
DAI 
$1.0010 
↑0.01% 
$4.81M
WAVES 
$11.498 
↑4.1% 
$4.58M
SC 
$0.0126 
↑9.6% 
$4.01M
BAT 
$0.5784 
↑3.8% 
$3.95M
COMP 
$453.63 
↓0.8% 
$3.72M
NANO 
$6.4208 
↑0.5% 
$3.18M
OMG 
$6.2724 
↑1.6% 
$2.9M
MANA 
$0.3040 
↑5.2% 
$2.46M
ETC 
$14.987 
↑3.7% 
$2.4M
OXT 
$0.6097 
↑1.5% 
$2.31M
CRV 
$2.7369 
↑2.1% 
$2.25M
QTUM 
$6.6603 
↑3.5% 
$2.15M
LSK 
$3.2796 
↑1.1% 
$1.8M
REP 
$39.601 
↑1.4% 
$1.79M
KAVA 
$4.7739 
↑3.8% 
$1.44M
PAXG 
$1801.5 
↓1.0% 
$1.36M
KEEP 
$0.4269 
↑12% 
$1.08M
KNC 
$2.1275 
↑3.9% 
$860K
BAL 
$44.640 
↑3.9% 
$781K
GNO 
$152.48 
↑4.3% 
$600K
STORJ 
$0.7959 
↑1.1% 
$564K
ANT 
$5.9773 
↑4.0% 
$499K
MLN 
$47.784 
↓3.0% 
$494K
REPV2 
$31.902 
↑3.5% 
$298K
TBTC 
$53590. 
↑7.5% 
$246K

The post Kraken Daily Market Report for February 17 2021 appeared first on Kraken Blog.

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Kraken Daily Market Report for February 16 2021


Overview


  • Total spot trading volume at $1.8 billion, right near the 30-day average of $1.79 billion.
  • Total futures notional at $734.4 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Polkadot, and Ripple.
  • Strong returns from Cosmos (+13%) and Polkadot (+6.1%).

February 16, 2021 
 $1.80B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$48501. 
↑1.3% 
$740.9M
ETH 
$1752.4 
↓1.6% 
$287.7M
USDT 
$1.0004 
↑0.01% 
$176.6M
DOT 
$29.519 
↑6.1% 
$106.8M
XRP 
$0.5091 
↓7.4% 
$72.8M
ADA 
$0.8545 
↓0.8% 
$72.0M
LTC 
$204.61 
↓1.7% 
$52.0M
XDG 
$0.0554 
↓1.8% 
$39.6M
USDC 
$0.9999 
↓0.01% 
$38.1M
LINK 
$30.966 
↓4.9% 
$34.8M
ATOM 
$25.535 
↑13% 
$31.9M
BCH 
$678.77 
↓5.4% 
$28.7M
XLM 
$0.4738 
↓4.1% 
$24.2M
KSM 
$190.06 
↑0.13% 
$13.6M
DASH 
$250.97 
↓3.3% 
$13.1M
EOS 
$4.4621 
↓5.4% 
$12.5M
ALGO 
$1.3091 
↓3.7% 
$11.4M
XTZ 
$4.4603 
↓1.9% 
$11.0M
ZEC 
$154.67 
↓2.8% 
$8.25M
GRT 
$2.0388 
↓4.8% 
$8.09M
XMR 
$216.38 
↓5.4% 
$7.47M
AAVE 
$425.23 
↓6.8% 
$7.26M
UNI 
$20.379 
↑1.4% 
$7.08M
FIL 
$41.480 
↓3.8% 
$7.06M
TRX 
$0.0501 
↓1.4% 
$6.04M
YFI 
$42038. 
↑4.1% 
$6.0M
DAI 
$1.0002 
↓0.06% 
$4.32M
FLOW 
$18.328 
↓5.0% 
$4.24M
SNX 
$23.811 
↓3.3% 
$4.24M
BAT 
$0.5302 
↓1.7% 
$4.1M
NANO 
$6.2191 
↓2.6% 
$3.83M
WAVES 
$10.422 
↓5.1% 
$3.73M
SC 
$0.0116 
↓0.8% 
$3.69M
ICX 
$1.6107 
↓9.1% 
$3.47M
OMG 
$6.0588 
↓2.1% 
$3.46M
COMP 
$443.72 
↓4.0% 
$3.14M
MANA 
$0.2866 
↓3.5% 
$2.91M
CRV 
$2.5885 
↓4.7% 
$2.7M
QTUM 
$6.2656 
↓2.4% 
$2.63M
OXT 
$0.5834 
↓6.5% 
$2.61M
ETC 
$14.088 
↓4.4% 
$2.27M
KAVA 
$4.5951 
↑0.4% 
$2.17M
REP 
$38.718 
↓5.1% 
$2.04M
LSK 
$3.2031 
↓3.6% 
$1.83M
KEEP 
$0.3957 
↓5.2% 
$1.6M
KNC 
$2.0089 
↓4.8% 
$1.38M
PAXG 
$1828.0 
↓0.06% 
$1.3M
STORJ 
$0.7668 
↓7.5% 
$811K
MLN 
$49.312 
↑2.0% 
$780K
BAL 
$42.465 
↓2.9% 
$762K
ANT 
$5.6984 
↓3.8% 
$637K
GNO 
$146.63 
↓1.5% 
$326K
REPV2 
$30.626 
↓5.7% 
$271K
TBTC 
$49500. 
↑1.7% 
$100K

The post Kraken Daily Market Report for February 16 2021 appeared first on Kraken Blog.

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