ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Gemini Introduces Daily Ether Auctions



De Silva

On July 28, 2017, Gemini will begin hosting daily Ether auctions. This service will enhance price discovery, deepen liquidity, and provide end-of-day prices.

Today, July 28, 2017, Gemini will kick off its first Ether auction. Available daily at 4:00 p.m. ET, the service will enable improved price discovery, greater liquidity, and benchmark pricing.

Price discovery is the process by which a market determines the “spot price” of a commodity. The forces of supply and demand interact to generate a current price in the marketplace. Gemini president Cameron Winklevoss explains, “Auctions focus market participants and economic information at a single moment in the day, resulting in better price discovery.”

Auctions also facilitate liquidity by connecting buyers and sellers in higher concentrations. Per Gemini, customers can “execute larger trades with less market price impact or ‘slippage.’”

Gemini Ether auctions might be most useful for benchmark pricing. In traditional markets like the New York Stock Exchange, core trading sessions occur from 9:30 a.m. to 4:00 p.m. ET. By comparison, the sun never sets on the cryptocurrency markets. Gemini is open for business 24 hours a day, seven days a week. If ever a trader’s heart desires, they may place buy and sell orders.

Still, when the IRS comes knocking, traders will be grateful to have the benchmark prices generated by Gemini’s auctions every day at 4:00 p.m. ET. Each April, these could form a framework for accounting and tax purposes.

Additional auction advantages championed by Gemini include instant settlement and zero counterparty risk. Since Gemini operates on a full-reserve basis, funds are available “for immediate transfer.” Additionally, trades are instantly processed from “pre-funded accounts,” removing the possibility that a counterparty will renege on a trade.

In its announcement, Gemini explains, “The final auction price of each auction is determined by finding the price at which the greatest aggregate buy demand and aggregate sell demand from all participating orders can be filled (i.e., the price at which the largest quantity can trade).”

The bidding mechanisms of Gemini’s Ether auctions parallel those of its bitcoin auctions, which began in September 2016. For additional information, check out Gemini’s order types.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Gemini, auctions or other Ethereum wallets and exchanges news.