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Cryptocurrency End of Day Recap

May 16, 2018

  • JPMorgan Chase (JPM) is experimenting with a blockchain-based platform for capital markets called Dromaius announced at the Consensus 2018 conference. Christine Moy, the head of JPM’s Blockchain Center of Excellence, said the firm will aim to build robust, enterprise-grade technology systems to support the blockchain infrastructure and coordinate with multiple participants to agree on standards for the blockchain protocol

  • In the science journal Joule, a study showed that by the end of the year bitcoin could use half of a percent of the world’s electric energy. If bitcoin’s value rises as high as some experts predict, the network could eventually consume upwards of 5% of the world’s electricity. The author of the study, Blockchain specialist Alex de Vries of PwC, estimates that bitcoin currently uses about 2.55 gigawatts of electricity and that a single transaction uses as much as an average household does during an entire month

  • Roger Ver, “Bitcoin Jesus” is endorsing Bitcoin Cash (BCH) after its hard fork yesterday. The hard fork increases blocksize from 8MB to 32MB. Cryptocurrency investors do not seem to be buying into the hard fork’s upgrades as the 5D% Change for Bitcoin Cash (BCH) is -16.85%

  • The Commodity Futures Trading Commission (CFTC) Commissioner Brian Quintenz stated that exchanges have shown interest in providing ether (ETH) derivatives to their clients. Quintenz said that the SEC and CFTC have been meeting to discuss whether ether should be classified as a security

  • Nomura, Ledger and Global Advisors are planning on building a secure digital asset custody solution. The firms are creating Komainu, a project aimed at asset custody for institutional investors. The group feels that global investment managers have been held back from participating in digital asset markets because of operational and regulatory risk

  • The U.S. Securities and Exchange Commission (SEC) launched a fake ICO today called HoweyCoin, named after the Howey Test which touts a too good to be true investment opportunity. Users who tried to follow through with investing in the ICO were taken to the regulator’s education tools which are aimed at pointing out fraudulent token sales

Sources:

https://blogs.wsj.com/cio/2018/05/16/jp-morgan-tests-blockchains-capital-markets-potential/?guid=BL-CIOB-14013&mod=searchresults&page=1&pos=1&dsk=y

 

https://gizmodo.com/alarming-study-suggests-bitcoin-consumes-an-astonishing-1826075745

 

https://www.coinspeaker.com/2018/05/16/roger-ver-aka-bitcoin-jesus-bullish-bitcoin-cash-yesterdays-hard-fork/

 

https://btcmanager.com/cftc-executive-urges-federal-agencies-in-the-u-s-to-quickly-clarify-ethers-status/

 

https://btcmanager.com/cftc-executive-urges-federal-agencies-in-the-u-s-to-quickly-clarify-ethers-status/

 

http://bitcoinist.com/ledger-partners-with-nomura-and-global-advisors-to-pave-the-way-for-secure-and-compliant-institutional-investment/

 

https://www.coindesk.com/the-sec-just-launched-a-fake-ico-website-to-educate-investors/

Quantamize Crypto Signals Active Return Outperformers 

Cryptocurrency YTD Active Return* Accuracy Rates
Populous 96.92% 61.50%
Bitcoin Cash 93.21% 64.41%
NEO 86.87% 60.65%
Zcash  73.53% 61.04%
Stellar 65.13% 67.86%
Bitcoin 53.80% 62.75%