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Cryptocurrencies are mixed this afternoon after the Chicago Mercantile Exchange reported a 41% increase in Bitcoin futures trading volume

Oct 17, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$6524.46 -0.11% -0.88% -0.23% USD$113,051,772,769 USD$4,098,238,178
Ethereum ETH USD$206.17 -0.27% -1.34% -7.17% USD$21,160,201,366 USD$1,480,615,915
XRP XRP USD$0.47 -0.37% 0.16% 1.69% USD$18,609,210,349 USD$553,685,196
EOS EOS USD$5.38 -0.01% -1.28% -7.26% USD$4,875,145,858 USD$393,581,653
Bitcoin Cash BCH USD$446.63 -0.03% -2.17% -11.1% USD$7,774,864,988 USD$300,691,179

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Qtum QTUM USD$3.99 -0.23% 8.99% 1.66% USD$354,755,893 USD$208,148,569
Stellar XLM USD$0.24 -0.5% 6.1% 0.82% USD$4,530,573,239 USD$73,823,756
OmiseGO OMG USD$3.25 0.19% 3.37% -5.78% USD$455,304,156 USD$16,137,828
Cardano ADA USD$0.08 -0.33% 2.29% -6.92% USD$2,011,128,030 USD$38,298,413
NEO NEO USD$16.65 -0.09% 2.29% -7.01% USD$1,081,927,999 USD$249,818,689

Crypto News

  • After Fidelity, the world’s fourth-largest asset manager with USD$7.2 trillion of assets under management, announced the launch of Fidelity Digital Asset Services earlier this week, Fidelity CEO Abigail Johnson detailed in a press release that Galaxy Digital would become the venture’s first institutional client. In the partnership between Fidelity Digital Assets and Galaxy Digital will allow clients of Galaxy Digital to invest in cryptocurrencies through Fidelity Digital Assets. Fidelity Digital Assets’ core operations will involve assisting hedge funds, pensions, and academic institutions with investing in cryptocurrencies.  
  • Binance, the world’s largest cryptocurrency exchange by trading volume, has partnered with cryptocurrency compliance provider and research company, Chainalysis, to improve Binance’s detection of suspicious activity. Binance has been rapidly expanding to different and new international markets, and it is likely the cryptocurrency exchange is facing increased regulatory pressures as a result. Binance will implement a Chainalysis solution called know-your-transaction technology, which monitors the exchange in real time to track the provenance of each transaction made on the platform.  
  • Bitcoin futures trading growth shows no signs of stopping after the Chicago Mercantile Exchange (CME) revealed that Bitcoin futures trading volume had increased 41% in 3Q2018 since the previous quarter -- open interest, which is the number of open contracts on Bitcoin futures, rose by 19%. Although Bitcoin futures trading volume showed strong growth in 3Q2018, it represented a slowdown from the 93% increase in daily volume and the 58% increase in open interest observed in 2Q2018. A recent Bloomberg report details that CME does not have plans to offer futures for any cryptocurrency other than Bitcoin in the foreseeable future.  
  • Cryptocurrency community members, specifically Redditors, are accusing American Express of sponsoring anti-cryptocurrency advertisements after a tweet surfaced today with a caption, “Promoted by American Express”. The advertisement reads, “The cryptocurrency industry is using more energy than all the world’s electric vehicles, researchers say,” while citing Bloomberg New Energy Finance as a source. It is important to note that, upon using a tool provided by Twitter to view the promoters of advertisement, Cointelegraph did not concretely find that American Express promoted the tweet, although the tool may not be quite reliable.  
  • Qtum, a public blockchain project, is partnering with Amazon Web Services’ China division to develop blockchain-as-a-service (Baas) solutions for enterprises and developers. According to Qtum’s Market Director, John Scianna, Qtum has been moving towards a broad technological partnership with Amazon Web Services since they listed Qtum on their marketplace in July. The partnership will allow Amazon Web Services users to develop and launch smart contracts, “quickly, efficiently, and cost-effectively" using Amazon Machine Image technology.  
  • The Responsible Finance and Investment Foundation, a UK industry group responsible for self-governance of the finance sector, revealed plans today to introduce a blockchain-powered tool to monitor firms' sustainable commitments. According to a Reuters report, the new system will allow the industry group to reduce, “greenwashing”, the practice of a firm claiming that it is more ecologically friendly or ethical than they really are. The industry group will collaborate on the development with 23 other participants with a plan to introduce the tool in 2019.  
  • Trading volumes of the Gemini Dollar (GUSD) have skyrocketed since Tether (USDT), the world’s largest stablecoin, lost its USD$1 peg. On Bibox, the world’s ninth largest cryptocurrency exchange by trading volume, GUSD volume spiked 96% while trading volume in USDT pairs plummeted 70%. USDT still maintains far superior trading volume compared to GUST; in the last 24 hours, USDT trading volume sits at roughly USD$2.6 billion while GUSD trading volume in the last 24 hours sits at roughly USD$11 million. 

 

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://www.ccn.com/billionaire-mike-novogratz-crypto-fund-is-fidelitys-first-custodian-client/ 
https://cointelegraph.com/news/binance-increases-anti-fraud-measures-with-chainalysis-partnership 
https://www.coindesk.com/crypto-exchange-binance-adds-compliance-tools-from-chainalysis/ 
https://cointelegraph.com/news/cme-report-btc-futures-trading-keeps-growing-in-q3-average-daily-volume-up-41-over-q2 
https://www.coindesk.com/cme-average-daily-volume-for-bitcoin-futures-grew-41-in-q3/ 
https://cointelegraph.com/news/redditors-accuse-amex-of-sponsoring-anti-crypto-tweets-but-proof-inconclusive 
https://bitcoinist.com/did-american-express-get-caught-spreading-anti-crypto-propaganda/ 
https://www.coindesk.com/amazon-web-services-china-partnering-blockchain-qtum/ 
https://cointelegraph.com/news/uk-based-industry-group-develops-blockchain-tool-to-track-firms-sustainable-commitments 
https://www.coindesk.com/gemini-stablecoin-volume-doubles-top-10-exchange-bibox-tether-turmoil/