LedgerX to Launch a Crypto Version of VIX

LXVX is designed to become a kind of “fear index” for BTC, allowing investors and traders to more effectively manage risks
15 January 2019   428

Exchange ща cryptocurrency derivatives LedgerX launched the LedgerX Volatility Index (LXVX), which tracks the expected bitcoin volatility, CoinDesk reports.

The index is based on options data traded on LedgerX. Chief Operating Officer Jutika Chou noted that LXVX is the equivalent of the popular VIX index from the CBOE, which measures the expected volatility in stock markets.

Thus, according to her, LXVX is designed to become a kind of “fear index” for Bitcoin, allowing investors and traders to more effectively manage risks.

Over the past few months, only institutional clients of LedgerX could use the index. However, now LXVX is presented on the main page of the exchange site and, therefore, is available for everyone.

LXVX Volatility Index
LXVX Volatility Index

Crypto winter did not affected LedgerX activity heavily. Since its establishment in October 2017, about 50 thousand transactions worth more than $ 500 million were concluded on the exchange. According to Chou, the bear market, on the contrary, stimulates trading activity on the platform.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   83

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.