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Cryptocurrencies post gains as Nasdaq, Fidelity continue crypto pursuit

Dec 04, 2018

 

 

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$3934.15 -0.57% 1.06% 3.81% USD$68,481,493,027 USD$5,050,722,537
Ethereum ETH USD$110.05 -0.47% 1.34% 1.45% USD$11,401,533,154 USD$1,766,864,907
EOS EOS USD$2.46 -0.39% -5.71% -18.06% USD$2,224,923,767 USD$771,803,451
XRP XRP USD$0.35 -0.2% 0.64% -0.96% USD$14,191,592,205 USD$443,047,251
Litecoin LTC USD$31.16 -0.35% 0.06% 2.2% USD$1,852,149,098 USD$390,163,614

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
Monero XMR USD$56.52 -0.6% 3.96% 0.8% USD$939,459,845 USD$14,378,489
TRON TRX USD$0.01 -0.37% 3.54% 21.84% USD$948,484,504 USD$76,892,707
OmiseGO OMG USD$1.5 -0.54% 3.49% 8.76% USD$209,955,493 USD$17,987,970
NEM XEM USD$0.08 -0.69% 3.41% 1.68% USD$684,743,824 USD$14,441,881
VeChain VET USD$0.0 -0.35% 3.29% 6.47% USD$259,458,806 USD$7,581,162

 

Crypto Market Recap

  • Cryptocurrencies are posting slight gains this afternoon as the price of Bitcoin (BTC) is up 1.10% in the last 24 hours to trade at USD$3.934.23. Among major cryptocurrencies, Bitcoin Cash (BCH) and EOS (EOS) are the biggest laggards, down 5.42% and 5.65% in the last 24 hours to USD$150.16 and USD$2.45, respectively. Binance Coin is the top performer among notable cryptocurrencies, up 17.75% in the last 24 hours to USD$5.94 after CEO Changspeng Zhao announced the development of Binance Chain, which is discussed below.

Crypto Developments in Financial Services

  • After speculation last week, the world’s second-largest stock exchange, Nasdaq, has confirmed that it will launch Bitcoin (BTC) futures trading services in the first half of 2019. Joseph Christinat, vice president of Nasdaq’s media team, detailed that the launch is subject to regulatory approval from the United States Commodity Futures Trading Commission (CFTC). According to Christinat, Nasdaq has been eying the cryptocurrency space for years, saying, “We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time -- way before the market went into turmoil, and that will not affect the timing of this in any way. No. Period. We’re doing this no matter what.”                  
  • ErisX, a new cryptocurrency exchange, raised USD$27.5mm in a funding round led by Fidelity Investments and Nasdaq Ventures, according to a Reuters report. Pending regulatory approval, ErisX aims to offer both spot and futures trading services for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Thomas Chippas, COE of ErisX, detailed that the funding will be used to hire staff as well as, “build out infrastructure and ensure the appropriate steps are taken to develop a regulated market for digital assets.” Two months ago in October, TD Ameritrade also announced an investment in ErisX.  
  • Itau Unibanco, Bazil’s largest private bank, is partnering with Standard Chartered, a UK-based bank, to build a blockchain-based platform for small loans, according to an official press by Itau Unibanco. The two banks, both of which offer international banking services, have already completed a successful proof-of-concept for the blockchain platform in question, which was based on R3’s Corda Connect. The two banks also recently partnered with US-based Wells Fargo to issue a test loan of USD$100mm on the blockchain platform.  
  • Poloniex, a large cryptocurrency exchange, announced the launch of trading services for institutional clients in a press release today. After being acquired by cryptocurrency payments firm Circle earlier this year, Poloniex will offer institutional accounts that support a variety of cryptocurrency trading pairs in addition to API interfaces. As part of its institutional trading services, Poloniex will offer and over-the-counter (OTC) crypto trading desk where a minimum order size of USD$250,000 will be required.  

Crypto Regulatory Environment 

  • Ueli Maurer, the Swiss Minister of Finance, rejected a potential blockchain law during a speech at blockchain conference Infrachain, as per Cointelegraph. Rather than introducing new laws and legal framework specifically pertaining to cryptocurrencies and blockchain technology, Switzerland will tweak pre-existing laws to allow for the new technology and its applications to flourish. Switzerland will reportedly propose changes to 6 pre-existing laws in 2019, including ones concerning civil code and bankruptcy.

General Crypto News

  • Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced that it will deploy its own public blockchain, dubbed Binance Chain. While speaking on stage at Forbes Asia Forum: Decrypting Blockchain, Binance CEO Changspeng Zhao revealed that Binance Chain will be released within the next, “couple of months or so,” and that it will host, “millions of coins and thousands of blockchains.” Although he was asked, Zhao did not provide any price prediction for Bitcoin (BTC), saying that it would be treated as market manipulation.

 

 

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

Sources:

https://coinmarketcap.com/ 
https://cointelegraph.com/news/confirmed-nasdaqs-bitcoin-futures-will-launch-in-first-half-of-2019 
https://www.express.co.uk/finance/city/1053533/Bitcoin-price-latest-news-btc-usd-blockchain-Nasdaq-list-crt 
https://cointelegraph.com/news/nasdaqs-bitcoin-futures-could-launch-in-q1-2019-says-bloomberg 
https://cointelegraph.com/news/crypto-exchange-erisx-raises-275-million-from-fidelity-nasdaq-ventures-and-others 
https://uk.reuters.com/article/us-itau-unibco-hldg-standard-chartered-b/ita-and-stanchart-launch-blockchain-platform-for-loans-in-latin-america-idUKKBN1O22DK?rpc=401& 
https://cointelegraph.com/news/us-brokerage-firm-td-ameritrade-to-invest-in-new-crypto-exchange 
https://www.ccn.com/nasdaq-fidelity-invest-in-wall-street-crypto-exchange-erisx/ 
https://www.coindesk.com/fidelity-bitmain-and-more-invest-27-million-in-crypto-trading-platform-erisx 
https://www.itau.com.ar/Documents/Sobre%20itau/Press%20Release%20-%20Blockchain_ESP.pdf 
https://cointelegraph.com/news/major-latin-american-bank-conglomerate-itau-to-create-blockchain-platform-for-small-loans 
https://www.coindesk.com/crypto-exchange-poloniex-launches-institutional-trading-services 
https://www.coindesk.com/circle-acquires-poloniex 
https://medium.com/circle-blog/institutional-accounts-now-available-on-poloniex-e28abf7afce 
https://cointelegraph.com/news/swiss-finance-minister-rejects-specific-blockchain-legislation-in-favor-of-current-laws 
https://de.cointelegraph.com/news/schweizer-finanzminister-maurer-es-wird-kein-blockchain-gesetz-geben