Cryptocurrencies are mixed as Nasdaq announces the launch of two crypto indices
Feb 13, 2019
Top 5 Cryptocurrencies sorted by 24 hour Volume
On Mobile/Tablet scroll to the right
Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change
On Mobile/Tablet scroll to the right
Crypto Market Recap
- Cryptocurrencies remained broadly mixed in afternoon trading as 5 of the top 10 cryptocurrencies by market capitalization are in the red in the last 24 hours with Bitcoin (BTC) down 0.52% to USD$3,631.38. Ethereum (ETH) and Ripple (XRP) are moving against BTC, slightly positive by 0.49% and 0.34% in the last 24 hours to USD$122.49 and USD$0.304626, respectively. Maker (MKR) is posting the largest gains among major cryptocurrencies, up 10.44% in the last 24 hours to USD$544.51. Litecoin (LTC), meanwhile, is down the most among major cryptocurrencies, falling 3.50% in the last 24 hours to USD$41.99.
Crypto Developments in Financial Services
- Nasdaq will launch two new indices to track the prices of major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) on February 25th, according to an official company press release. The Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) will offer a way for investors to track real-time price updates for two of the largest cryptocurrencies by market capitalization. The two new indices are enabled through a partnership with US blockchain and crypto asset market data firm Brave New Coin.
- According to a Bloomberg report, cryptocurrency miners and investors are using derivatives in an attempt to survive the crypto bear market. Bloomberg highlights in the article that crypto derivative instruments, such as options, are beginning to gain popularity as a means to generate short-term cash. The report by Bloomberg quotes Sam Bankman-Fried, CEO of quantitative digital asset trading firm Alameda Research, who said, “Anyone sitting on a stockpile of tokens saw in the bear market of 2018 that their business is at the mercy of crypto prices. It can be crucial for those players’ survival to have some cash if digital asset prices go down.”
Crypto Regulatory Environment
- In a research report published on Monday, the New York Federal reserve argued that cryptocurrencies will not become an international monetary phenomenon in the coming years that challenges the dollar. In its report, the New York Fed commented, “Cryptocurrencies, set up to challenge the conventional structure of payments in official currencies, thus far are unlikely to meet criteria for international roles in the near to medium term.”
General Crypto News
- QuadrigaCX, the Canadian cryptocurrency exchange that owes CAD$250mm (USD$190mm) to its users following the death of its founder and CEO, reportedly lost another CAD$500,000 by mistake last week. In an initial report by court-appointed monitor Ernst and Young (EY), the Big 4 auditing company said that QuadrigaCX moved more than 100 Bitcoin (BTC) into a cold wallet it cannot access. EY wrote in its report, “On February 6, 2019, Quadriga inadvertently transferred 103 bitcoins valued at approximately $468,675 [CAD] to Quadriga cold wallets which the Company is currently unable to access. The Monitor is working with Management to retrieve this cryptocurrency from the various cold wallets, if possible.”eThe
- University of California, Berkeley (US Berkeley) is set to launch a 12-week accelerator program aimed at blockchain startups in their early stages, according to an official announcement. Dubbed the Berkeley Blockchain Xcelerator, the accelerator program is sponsored in part by venture capital fund Berkeley X-Lab Fund. Gloria Zhao, president of Blockchain at Berkeley, discussed the reasoning behind the accelerator program, saying, “With such a nascent technology as blockchain, we see that a lot of subject matter experts and people make an impact in the blockchain space are students.”
- Busan, the second-largest city in South Korea, signed Memorandum of Understanding (MoU) with blockchain firm Hyundai Pay, as per an official press release published Monday. As part of the MoU, Busan and Hyundai Pay will promote the development and growth of blockchain startups and jobs in the South Korean city.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio