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Cryptocurrencies trade mostly higher as CBOE resubmits Bitcoin (BTC) ETF application

Feb 01, 2019

 

 
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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$3475.15 -0.14% 0.46% -3.14% USD$60,862,268,625 USD$5,445,015,255
Ethereum ETH USD$106.64 -0.79% -0.28% -8.38% USD$11,161,636,687 USD$2,580,889,927
Litecoin LTC USD$32.45 0.07% 2.85% -0.12% USD$1,955,810,309 USD$728,703,965
EOS EOS USD$2.33 -0.19% 0.45% -4.74% USD$2,112,171,646 USD$638,831,824
XRP XRP USD$0.31 -0.6% -1.09% -2.89% USD$12,608,852,515 USD$580,171,820

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
Litecoin LTC USD$32.45 0.07% 2.85% -0.12% USD$1,955,810,309 USD$728,703,965
Bitcoin Cash BCH USD$116.24 -0.28% 1.25% -8.76% USD$2,045,689,859 USD$246,534,761
Cardano ADA USD$0.04 -0.3% 0.98% -9.64% USD$999,342,561 USD$21,615,958
Qtum QTUM USD$1.86 -0.72% 0.86% -10.16% USD$165,550,065 USD$171,340,073
VeChain VET USD$0.0 -0.93% 0.67% -10.63% USD$215,092,275 USD$3,398,675

 

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Crypto Market Recap

  • Cryptocurrencies are trading mostly higher this afternoon with the price of Bitcoin (BTC) up 0.46% in the last 24 hours to USD$3,475.24. Although most of the market is in the green, Ripple (XRP) and Ethereum (ETH) are lagging, down 0.74% and 0.04% in the last 24 hours to USD$0.307286 and USD$106.87, respectively. Binance Coin (BNB) is the best performing major coin today, up 6.49% in the last 24 hours to USD$6.55.

Crypto Developments in Financial Services

  • The Chicago Board Options Exchange (CBOE) has officially resubmitted its joint application with VanEck and SolidX to the US Securities and Exchange Commission (SEC) for a Bitcoin (BTC) exchange-traded fund (ETF). CBOE initially withdrew its application for a BTC ETF after talks reportedly stalled due to the government shutdown. The SEC will have 240 days to decide whether to approve or reject the BTC ETF application once the application is published to the Federal Register, which has yet to happen.  
  • B2C2 OTC Ltd., a cryptocurrency liquidity startup based in the United Kingdom, has received approval from the United Kingdom Financial Conduct Authority (FCA) to offer contracts for difference (CFDs) to eligible counterparties or professional clients. B2C2 aims to allow investors to increase exposure to cryptocurrency markets while circumventing risks related specifically to crypto custody services, according to co-founder Max Boonen.

Crypto Regulatory Environment

  • The Malaysian Securities Commission (SC) announced changes to its Guidelines on Recognized Markets that introduces new rules and regulation pertaining to cryptocurrency exchanges. Cryptocurrency exchange platforms based in Malaysia, the country commonly referred to as blockchain island, will be required to register with the Malaysian SC by March 1st, 2019. Malaysian crypto exchanges will be required to conform to corporate organization requirements, implement robust security measure, and prove that they are capable of contributing to the country’s emerging digital economy as part of the new regulation.

General Crypto News

  • A Bloomberg article Friday morning highlights that investors who hold proof-of-stake (PoS) tokens could stake their tokens in order to survive the extended cryptocurrency bear market. As per the Bloomberg article, users who stake their tokens, which is essentially depositing tokens as collateral for a chance to be chosen to add the next block to the network’s chain, can receive yields from 5% to as high as 150%, depending on stake size. Bloomberg quotes Multicoin Capital Management partner Kyle Samani, who discussed, “Regardless of market conditions, staking provides returns denominated in the asset being staked. If you’re going to be long, you might as well stake.” 
  • The Ethereum (ETH) development team has launched its first pre-release for phase zero of the network’s ongoing transition to Ethereum 2.0, according to an official post on Github. As per the post, “this marks the first release in a series of weekly releases through February 2019. Phase 0 in v0.1 is relatively feature complete and approaching stability.”  The upgrade is part of Ethereum’s goal to transition from a proof-of-work validation protocol to a more efficient and scalable proof-of-stake system.  
  • The Food and Drug Administration of the Chinese Chongqing Yuzhong District is planning to leverage blockchain technology in its operational processes, according to news outlet The People’s Daily. Specifically, the Chinese district agency will implement blockchain technology to increase food supervision, drug quality assurance, and better track general product life cycles. The blockchain technology that will be used was developed by Chinese blockchain technology firm PrimeNumber Chain Technology Chengdu Co., Ltd.

 

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

Sources:

http://blockchain.people.com.cn/n1/2019/0131/c417685-30603649.html 
http://cdn.cboe.com/resources/regulation/rule_filings/pending/2019/SR-CboeBZX-2019-004.pdf 
http://www.theedgemarkets.com/article/sc-announces-framework-facilitate-cryptocurrency-trading 
https://bitcoinist.com/cboe-refiles-bitcoin-etf-proposal/ 
https://bitcoinist.com/malaysia-bitcoin-regulations-exchange/ 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/bloomberg-proof-of-stake-token-investors-could-use-staking-for-gains-during-bear-market 
https://cointelegraph.com/news/chinese-district-food-and-drug-administration-to-use-blockchain-for-quality-assurance 
https://cointelegraph.com/news/ethereum-20-pre-release-kicks-off-relatively-feature-complete 
https://cointelegraph.com/news/uk-crypto-liquidity-provider-receives-financial-regulators-approval 
https://github.com/ethereum/eth2.0-specs/releases/tag/v0.1 
https://register.fca.org.uk/ShPo_FirmDetailsPage?id=0010X00004AVppsQAD 
https://www.bloomberg.com/tosv2.html?vid=&uuid=08a3ec00-2615-11e9-9406-499f8bdf0821&url=L25ld3MvYXJ0aWNsZXMvMjAxOS0wMi0wMS9zb21lLWNyeXB0by1pbnZlc3RvcnMtYXJlLXBsYXlpbmctaXQtc2FmZS1hZnRlci12b2xhdGlsZS1ydW4/c3JuZD1jcnlwdG9jdXJyZW5jaWVz 
https://www.coindesk.com/cboe-re-files-vaneck-solidx-bitcoin-etf-proposal 
https://www.coindesk.com/us-government-shutdown-derailed-bitcoin-etf-talks-says-vaneck-ceo

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