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Cryptocurrencies remain green as OKEx launches perpetual Bitcoin swap

Dec 19, 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$3732.82 -1.16% 4.43% 7.08% USD$65,069,464,645 USD$6,951,863,901
Ethereum ETH USD$101.15 -2.4% 6.48% 11.22% USD$10,508,842,735 USD$2,525,597,256
EOS EOS USD$2.5 -1.86% -1.31% 25.83% USD$2,268,903,723 USD$1,288,470,315
XRP XRP USD$0.35 -3.85% 4.4% 13.45% USD$14,220,525,506 USD$1,048,678,279
Bitcoin Cash BCH USD$129.67 -2.4% 28.16% 27.29% USD$2,271,733,139 USD$518,530,871

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
Bitcoin Cash BCH USD$129.67 -2.4% 28.16% 27.29% USD$2,271,733,139 USD$518,530,871
Qtum QTUM USD$2.26 -1.57% 10.04% 33.11% USD$201,102,581 USD$214,884,321
TRON TRX USD$0.02 -3.08% 9.44% 16.63% USD$1,040,596,780 USD$157,182,529
Ethereum Classic ETC USD$4.43 -2.01% 7.74% 13.57% USD$473,033,816 USD$150,649,689
Dash DASH USD$75.6 -2.61% 7.59% 14.39% USD$643,687,663 USD$148,296,892

 

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Crypto Market Recap

  • Cryptocurrencies remained largely in the green through afternoon trading as the price of Bitcoin (BTC) is up 4.74% in the last 24 hours to USD$3,741.97. Bitcoin Cash (BCH) led gains of major coins today, up a massive 27.61% to USD$128.93 -- since Monday, BCH has appreciated 57.77%. EOS (EOS) is the only major cryptocurrency in the red today, down 1.08% in the last 24 hours to USD$2.51. Total cryptocurrency market capitalization has added USD$5.8bn in the last 24 hours and currently sits at USD$120.7bn.

Crypto Developments in Financial Services

  • OKEx, the Malta-based cryptocurrency exchange that is the second-largest in the world by daily trading volume, announced the launch of a new Bitcoin (BTC) derivative product that will maintain no expiry date. Called the “perpetual swap”, the product will allow cryptocurrency traders to indefinitely speculate on the future value of OKEx’s BTC to US Dollar index. OKEx’s perpetual swap will allow traders to leverage their investment up to 100x.  
  • The Australian Securities Exchange (ASX) reaffirmed its plans to roll out its distributed ledger-based settlement system by early 2021 despite the departure of Digital Asset Holdings CEO Blythe Masters. While speaking on the matter, ASX Deputy CEO Peter Hiom said that, “ASX remains absolutely committed to DLT and our partnership  with Digital Asset (DA),” adding that, “We are working closely with DA at all levels of development, implementation, and customer readiness for the replacement system, and we look forward to continuing this work with AG Gangadhar and the DA team.” 
  • The South China Morning Post (SCMP) is reporting that the Hong Kong Stock Exchange (HKEX) is reluctant to accept Bitcoin mining equipment manufacturer Bitmain’s initial public offering (IPO) filings just a day after the stock market regulator called the reports rumors. SCMP cites two sources familiar with the matter in their report, which details that the HKEX thinks it is, “premature for any cryptocurrency trading platform – or business associated with the industry – to raise funds through an IPO in Hong Kong before the proper regulatory framework is in place.”

Crypto Regulatory Environment

  • French Parliament have rejected four amendments to the country’s 2019 finance bill that would have effectively eased cryptocurrency taxation, according to French business magazine Capital. One of the proposals rejected by French Parliament would have differentiated between regular crypto transaction and occasional crypto transaction in an effort to relax guidelines for the latter. French Parliament also rejected a proposal that would have caused cryptocurrency taxation guidelines to follow current guidelines for securities when first introducing crypto tax guidelines.

General Crypto News

  • Qtum (QTUM), an open source blockchain project and the 28th largest coin by total market capitalization, has awarded a USD$400,000 grant to Columbia University for the development of a new programming language for Ethereum (ETH)-style smart contracts. Specifically, the grant will go towards a team of two PhD and postdoctoral students to focus on the design and implementation of a new language called DeepSEA.   
  • Waves Platform, a blockchain network that hosts its native token Waves (WAVES), raised USD$130mm in a funding round, allowing it to develop Vostok, a private blockchain platform and system integrator aimed to serve public institutions and large enterprises. WAVES has appreciated nearly 50% on the news this week and now maintains a market capitalization of more than USD$400mm. Two months ago, the Waves Platform conducted a stress test where it processed more than 6.1mm transactions without delays or disruptions.

 

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

Sources:

https://coinmarketcap.com/ 
https://coin360.io/ 
https://cointelegraph.com/news/french-parliament-refuses-to-ease-taxation-for-cryptocurrency-owners 
https://www.capital.fr/entreprises-marches/fiscalite-des-cryptomonnaies-le-rejet-de-4-amendements-fait-hurler-le-secteur-1320422 
https://www.coindesk.com/okex-launches-no-expiry-bitcoin-derivative-product 
https://www.coindesk.com/asx-reaffirms-2021-blockchain-rollout-date-after-blythe-masters-steps-down 
https://www.coindesk.com/australian-securities-exchange-eyes-end-2020-dlt-rollout 
https://www.coindesk.com/blythe-masters-ceo-of-blockchain-startup-digital-asset-is-stepping-down 
https://cointelegraph.com/news/hong-kong-stock-market-regulator-reluctant-to-greenlight-bitmain-ipo-sources-report 
https://www.scmp.com/business/banking-finance/article/2178747/hong-kong-regulators-say-ipos-cryptocurrency-businesses-are 
https://cointelegraph.com/news/hong-kong-stock-exchange-calls-alleged-bitmain-ipo-hesitation-rumors 
https://cointelegraph.com/news/qtum-awards-400k-grant-to-columbia-university-research-team-for-smart-contracts-rd 
https://www.nsf.gov/awardsearch/showAward?AWD_ID=1763399 
https://www.ccn.com/120-million-raised-by-waves-platform-as-launch-of-private-blockchain-nears/ 
https://www.bloomberg.com/news/articles/2018-12-19/waves-raises-120-million-for-private-blockchain-after-ico-boom

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