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Questions about SBI

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Since the much anticipated launch of SBI, there hasn't been any perceptible change in volume or price (which many here accurately called).  What I am puzzled by, however, is the lack of volume in the XRPJPY pair.  When looking at the volumes on https://sbivc.jp/pro/exchange it looks as though volume is steadily building but since the website is in Japanese, I have no sense of what the actual volume numbers are.  When looking at the XRPJPY pair on tradingview, it shows very sporadic volume, all occurring before the 7/31 SBI launch.  I am assuming this is a slow and steady roll out and we should expect volume to build. 

My question though: isn't SBI the largest brokerage in Japan?  Can we think of it like a Japanese Vanguard or Fidelity, or am I wrong and its more of a Japanese Coinbase?  If its the former, I would have expected more activity.  I can say with certainty that if I all of a sudden had the ability to buy BTC, ETH and XRP through my Fidelity account, I would start adding to my positions along with my usual purchases of equity and bond funds and I would expect many others to do the same.  Am I thinking of this wrong or am I mistaken about what SBI actually is? 

Thanks in advance for the collective wisdom of the board.

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That's fantastic, but is it related to SBI?  I'm no expert at this stuff but it appears not, simply that a lot of XRP has been changing hands.  I can't seem to find any reference to SBI volume on any of the tracking sites, perhaps its just too new of an exchange?  Are the SBI transactions not currently being included in the tracked volume?

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Huge spike in volume right now actually. 600k XRP traded in last 2 hours. Compared to yesterday, where volume was less than 200k XRP whole day.

Obviously these amounts are still low, but it seems to be increasing rapidly.

Also compared to ETH/JPY and BTC/JPY, it seems XRP/JPY has had way more volume than those since launch.

Edited by Janno

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As @Janno said, the volume has been jumping quite decently each day and there was a big one today, with also big trades: 48k, 40k, 2 x 30k XRP in the last 100 trades alone (to a total volume of ~505k XRP).

There are several reasons to explain this, but it would be speculation. What's important is that we went from a handful of trades a few days ago to hundreds now. If the trends continues in the next week (big if), they could get to BitBank's level soon.

For now it's still low, but also remember that, as stated in their earnings presentation, they are not doing any signup or trading campaign just yet, as they've deferred that to the Autumn.

Edited by Socrates

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18 minutes ago, Socrates said:

As @Janno said, the volume has been jumping quite decently each day and there was a big one today, with also big trades: 48k, 40k, 2 x 30k XRP in the last 100 trades alone (to a total volume of 500k XRP).

There are several reasons to explain this, but it would be speculation. What's important is that we went from a handful of trades a few days ago to hundreds now. If the trends continues in the next week (big if), they could get to BitBank's level soon.

For now it's still low, but also remember that, as stated in their earnings presentation, they are not doing any signup or trading campaign just yet, as they've deferred that to the Autumn.

Agreed, I think they want to take it safe as they don't want to go on full marketing mode immediately and then something goes wrong and everyone has a bad experience.

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8 hours ago, Janno said:

Huge spike in volume right now actually. 600k XRP traded in last 2 hours. Compared to yesterday, where volume was less than 200k XRP whole day.

Obviously these amounts are still low, but it seems to be increasing rapidly.

Also compared to ETH/JPY and BTC/JPY, it seems XRP/JPY has had way more volume than those since launch.

Where are you finding this?  Fiatleak and others don't show any trades from SBI that I can see.

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Their 1D (1 day) candle graph isn't returning the volume for the 4th of August and they went into maintenance less than an hour ago and came back.

However their trade list is now empty and their API is returning an empty list of trades, so they either made it do that for non-logged in users or they were having issues around it and disabled it (or perhaps it only returns trades made during today, and none were made so far?).

In any case, here are the values they use on the 1D candle graph:

{
  "candlesticks": [{
    "close": "33.878000",
    "high": "34.722000",
    "low": "33.878000",
    "open": "34.700000",
    "timestamp": "2019-07-31T15:00:00Z",
    "type": "candlestick",
    "volume": "12493.000000"
  }, {
    "close": "33.750000",
    "high": "34.237000",
    "low": "33.721000",
    "open": "34.000000",
    "timestamp": "2019-08-01T15:00:00Z",
    "type": "candlestick",
    "volume": "84820.000000"
  }, {
    "close": "33.648000",
    "high": "33.730000",
    "low": "33.000000",
    "open": "33.730000",
    "timestamp": "2019-08-02T15:00:00Z",
    "type": "candlestick",
    "volume": "168729.000000"
  }, {
    "close": "34.224000",
    "high": "34.224000",
    "low": "31.000000",
    "open": "33.881000",
    "timestamp": "2019-08-03T15:00:00Z",
    "type": "candlestick",
    "volume": "799084.000000"
  }],
  "request_id": 16,
  "type": "candlestick_recap"
}



P.S.: Trading history is back.

Edited by Socrates

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14 hours ago, Zedy44 said:

Volume could be all over the place daily given MG operates nearly 24/7?  They have signs in very Wallmart and CVS I walk into so people can send money any time.

xrapid is only live in very few corridors.  

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Current volume data:

{
  "candlesticks": [{
    "close": "33.878000",
    "high": "34.722000",
    "low": "33.878000",
    "open": "34.700000",
    "timestamp": "2019-07-31T15:00:00Z",
    "type": "candlestick",
    "volume": "12493.000000"
  }, {
    "close": "33.750000",
    "high": "34.237000",
    "low": "33.721000",
    "open": "34.000000",
    "timestamp": "2019-08-01T15:00:00Z",
    "type": "candlestick",
    "volume": "84820.000000"
  }, {
    "close": "33.648000",
    "high": "33.730000",
    "low": "33.000000",
    "open": "33.730000",
    "timestamp": "2019-08-02T15:00:00Z",
    "type": "candlestick",
    "volume": "168729.000000"
  }, {
    "close": "34.224000",
    "high": "34.224000",
    "low": "31.000000",
    "open": "33.881000",
    "timestamp": "2019-08-03T15:00:00Z",
    "type": "candlestick",
    "volume": "799084.000000"
  }, {
    "close": "34.000",
    "high": "34.200",
    "last_tick_id": 33,
    "low": "32.139",
    "open": "33.700",
    "timestamp": "2019-08-05T00:00:00Z",
    "type": "candlestick",
    "volume": "43849"
  }],
  "request_id": 14,
  "type": "candlestick_recap"
}

Notice how we don't see 2019-08-04 mentioned in that list. Either they had issues and are not showing it or they've consolidated it into the 2019-08-03 timestamped data (that timestamp can be when they started counting that period).

Since on 2019-08-04 we could see at least a volume of 505k, 2019-08-03 is showing 799k XRP and the previous day to that was 168K XRP, I wouldn't be surprised if they've taken the period from 2019-08-03 15:00:00 UTC to 2019-08-05 00:00:00Z into consideration for the  799k XRP (~294k for the 3rd of August + ~505k for the 4rd of August).

Edited by Socrates
Fixed a date

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11 hours ago, Socrates said:

Current volume data:


{
  "candlesticks": [{
    "close": "33.878000",
    "high": "34.722000",
    "low": "33.878000",
    "open": "34.700000",
    "timestamp": "2019-07-31T15:00:00Z",
    "type": "candlestick",
    "volume": "12493.000000"
  }, {
    "close": "33.750000",
    "high": "34.237000",
    "low": "33.721000",
    "open": "34.000000",
    "timestamp": "2019-08-01T15:00:00Z",
    "type": "candlestick",
    "volume": "84820.000000"
  }, {
    "close": "33.648000",
    "high": "33.730000",
    "low": "33.000000",
    "open": "33.730000",
    "timestamp": "2019-08-02T15:00:00Z",
    "type": "candlestick",
    "volume": "168729.000000"
  }, {
    "close": "34.224000",
    "high": "34.224000",
    "low": "31.000000",
    "open": "33.881000",
    "timestamp": "2019-08-03T15:00:00Z",
    "type": "candlestick",
    "volume": "799084.000000"
  }, {
    "close": "34.000",
    "high": "34.200",
    "last_tick_id": 33,
    "low": "32.139",
    "open": "33.700",
    "timestamp": "2019-08-05T00:00:00Z",
    "type": "candlestick",
    "volume": "43849"
  }],
  "request_id": 14,
  "type": "candlestick_recap"
}

Notice how we don't see 2019-08-04 mentioned in that list. Either they had issues and are not showing it or they've consolidated it into the 2019-08-03 timestamped data (that timestamp can be when they started counting that period).

Since on 2019-08-04 we could see at least a volume of 505k, 2019-08-03 is showing 799k XRP and the previous day to that was 168K XRP, I wouldn't be surprised if they've taken the period from 2019-08-03 15:00:00 UTC to 2019-08-05 00:00:00Z into consideration for the  799k XRP (~294k for the 3rd of August + ~505k for the 4rd of August).

Great job.  Can you just go ahead and do this every day so we can watch the volume grow? :biggrin:

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