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Cryptocurrencies edge lower as Diar reports fourth-straight month of institutional Bitcoin (BTC) trading growth

Apr 09, 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$5216.12 -0.14% -0.37% 8.94% USD$91,994,613,128 USD$14,914,452,209
Ethereum ETH USD$176.92 -0.1% -1.15% 10.68% USD$18,681,594,239 USD$7,689,122,799
EOS EOS USD$5.6 -0.02% 1.7% 15.21% USD$5,071,928,365 USD$3,132,837,059
Litecoin LTC USD$87.26 -0.16% -1.36% 19.11% USD$5,346,000,727 USD$2,803,319,644
Bitcoin Cash BCH USD$298.0 0.08% -3.34% 34.84% USD$5,280,318,879 USD$1,324,851,546

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
Ethereum Classic ETC USD$7.2 2.25% 1.72% 34.42% USD$789,213,199 USD$645,633,574
EOS EOS USD$5.6 -0.02% 1.7% 15.21% USD$5,071,928,365 USD$3,132,837,059
Bitcoin BTC USD$5216.12 -0.14% -0.37% 8.94% USD$91,994,613,128 USD$14,914,452,209
Ethereum ETH USD$176.92 -0.1% -1.15% 10.68% USD$18,681,594,239 USD$7,689,122,799
IOTA MIOTA USD$0.35 -0.39% -1.31% 0.56% USD$971,833,809 USD$16,407,112

 

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Crypto Market Recap

  • Cryptocurrencies are trading mostly lower this afternoon as the price of Bitcoin (BTC) is down by 34 basis points over the last 24 hours to USD$5,216.38 -- in the last 2 days of trading, the benchmark coin appears to have found support at the $5,200 level. Stellar (XLM) is lower by the most among major coins over the last 24 hours, falling 4.15% to USD$0.125538. EOS (EOS) and Binance Coin (BNB), meanwhile, are the only major coins moving against the broad crypto market today, each up 1.77% and 0.92% to USD$5.60 and USD$18.36, respectively.

Crypto Developments in Financial Services

  • Trading volume of institutional Bitcoin (BTC) investment products relative to trading on crypto exchanges has risen for the fourth-straight month, according to new research by Diar. According to Diar’s latest weekly report, “Fungibility Woes Threaten to Unravel Bitcoin’s Throne,” institutional BTC trading made up 10% of volumes in December 2018 -- since, institutional BTC products’ share of trading volume has increased to 15% in January 2019, 17% in February 2019, 18% in March 2019, and now 19% in April 2019.  
  • The Gibraltar Stock Exchange (GSX) officially announced the listing of blockchain-powered securities on its GSX Global Market practical listing venue in a press release Tuesday. Starting Tuesday, the Gibraltar Stock Exchange is listing an number of new products called digital, smart, or tokenized securities -- these include instruments such as corporate bonds, convertible bonds, asset-backed securities, derivative securities, open-end funds, and closed-end funds. 
  • A majority of tax and financial executives are not prioritizing the adoption of blockchain technology, that is, according to a new survey from Big Four auditing firm KMG. The poll, “Understanding Blockchain – It's Not Just About Crypto,” surveyed roughly 450 executives from the tax and finance industry regarding blockchain and other emerging technologies. In regards to eliminating routine tasks from team operations, the survey finds that executives are seeking different solutions from blockchain technology. Of those polled, 67% of executives are not using blockchain technology at this time while 27% are not sure if their company is using it.  

Crypto Regulatory Environment

  • US lawmakers have once again introduced a bill to give cryptocurrencies a clearer legal standing in the country. On Tuesday, US Representative Warren Davidson reintroduced the, “Token Taxonomy Act,” to amend the Securities Act of 1933 and the Securities Exchange Act of 1940 to grant regulators like the US SEC clarity on how to enforce securities laws that may or may not apply to cryptocurrencies. In a statement included alongside the bill, Davidson explained that signing the bill into law would, “send a powerful message,” to innovators in blockchain and cryptocurrencies that, “the US is the best destination for blockchain technology.”  
  • The US subsidiary of Bitstamp, a major European crypto exchange, was granted a coveted BitLicense by the New York Department of Financial Services.  According to an official press release from the state financial regulator, BitStamp is now the 19th company to receive a green light from the New York Department of Financial Services to conduct digital currency operations in the state. Back in 2016, Bitstamp Europe SA received a payment institution license to operate in all 28 member nations of the European Union.

General Crypto News

  • Popular open-source browser Mozilla Firefox has officially launched new measures to protect users against crypto mining malware, according to a blog post from the company on Tuesday. In the latest Firefox Nightly 68 and Beta 67 versions, Mozilla included new features to specifically protect users from crypto mining and fingerprinting hack attacks. To accomplish this feat, Mozilla worked closely with privacy and security software firm Disconnect.

 

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

Sources:

https://blog.mozilla.org/futurereleases/2019/04/09/protections-against-fingerprinting-and-cryptocurrency-mining-available-in-firefox-nightly-and-beta/ 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/beta-of-major-web-browser-firefox-by-mozilla-now-blocks-web-based-cryptojacking 
https://cointelegraph.com/news/blockchain-adoption-is-not-a-priority-for-finance-executives-kpmg-poll-shows 
https://cointelegraph.com/news/gibraltar-stock-exchange-launches-listings-of-blockchain-based-securities 
https://cointelegraph.com/news/institutional-bitcoin-trading-volumes-see-fourth-month-of-growth-diar-reports 
https://cointelegraph.com/news/us-subsidiary-of-eu-crypto-exchange-bitstamp-seals-bitlicense-from-new-york-regulator 
https://diar.co/volume-3-issue-10/ 
https://www.coindesk.com/lawmakers-reintroduce-bill-to-exempt-tokens-from-us-securities-laws 
https://www.coindesk.com/us-lawmakers-file-bill-to-exempt-cryptocurrencies-from-securities-laws 
https://www.dfs.ny.gov/reports_and_publications/press_releases/pr1904092 
https://www.gsx.gi/article/9466/the-gibraltar-stock-exchange-set-to-offer-digital-debt-securities-and-funds 

 

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