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CoinMarketCap Indices Listed on Bloomberg, Nasdaq

CoinMarketCap, a cryptocurrency price index and one of the most popular crypto websites by traffic volume, has announced the launch of two cryptocurrency indices on Bloomberg Terminal, Nasdaq Global Index Data Service, as well as Thomson Reuters Eikon and Börse Stuttgart. The indices will be calculated by German index provider Solactive, according to the details of the press release published on CoinMarketCap’s official blog Mar. 20.

Per the announcement, CoinMarketCap’s new benchmark indices will offer users the ability to reference coins with and without the influence of Bitcoin,

“most comprehensive ones on the market, covering the Top 200 cryptocurrencies by market capitalization, one including Bitcoin, and one without.”

The first indices titled CMC Crypto 200 Index (CMC200), which includes Bitcoin, will cover more than 90 percent fo the global cryptocurrency market. The alternative index–sans Bitcoin–CMC Crypto 200 ex BTC index (CMC200EX) will allow investors the option of viewing the market in the absence of Bitcoin, which currently holds close to 50 percent of total market share.

According to CoinMarketCap CEO Brandon Chez, the website’s launch onto popular terminals such as Bloomberg and Nasdaq will increase user accessibility to cryptocurrency data and increase penetration into the traditional financial markets,

“We are excited to launch and share these indices with the market. These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format.

In partnership with Solactive, our chosen index administrator, we hope these professionally-calculated indices will serve to expand the reach of cryptocurrencies into the larger financial markets.”

The press release also includes information on the history of CoinMarkCap, explaining to users that the company was the first to create and quantify the terms “market capitalization,” “circulating supply” and “Bitcoin dominance” in reference to the crypto markets.

Solactive AG, the independent Germin index provider which will calculate CMC’s new indices, is also the provider for CBOE Bitcoin Futures index and over 3,000 custom-made indices. The press release also reports that the company is “fully compliant with the IOSCO Principles for FInancial Benchmarks.”

Fabian Colin, Head of Sales at Solactive further explained his company’s position in CMC’s indices launch,

“We are very proud to be chosen as CMC’s index provider of choice in this exciting journey. The ability to access CoinMarketCap data gives us the opportunity to develop custom indices for new clients. Conversations have already started.

We are looking forward to developing more crypto indices in the future, which will optimistically result in investable indices and might lead to further products.”

While CoinMarketCap has evolved into the most popular portal for investors to view cryptocurrency prices, the website has experienced a bit of controversy over the years. In Jan. 2018, the website made the sudden decision to remove Korean markets included in their price listing, causing many top coins to appear to drop double digits percentage points seemingly overnight. The result was a mass panic of crypto selloff, leading to further depressed prices and contributing to the shift in crypto’s bullish rally at the start of 2018 to what has become more than a year of “crypto winter” for coin prices.

Just this week, Binance CEO Changpeng Zhao called into question the data presented by popular crypto price-trackers such as CoinMarketCap in response to a report alleging most cryptocurrency exchanges are publishing false trading volume.

The post CoinMarketCap Indices Listed on Bloomberg, Nasdaq appeared first on Ethereum World News.

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Stellar (XLM) is Inches Away From Edging out EOS from the Number 5 Spot

On July 19th, Charlie Lee, the creator of Litecoin (LTC), congratulated Stellar (XLM) on passing LTC’s marketcap and edging it out from the number 6 spot according to coinmarketcap.com. Charlie stated the following via Twitter:

Congrats to Stellar on passing Litecoin’s marketcap. That said, it really doesn’t make sense to compare marketcaps of coins that are “printed”, b/c they have an inflated marketcap. Maybe I’m old school, but I only care about decentralized mineable coins.

Since then, XLM has retained the number 6 spot as can be seen in the screenshot below.

XLM firmly in the number 6 spot. Source, coinmarketcap.com

Doing the math, XLM need only be valued at $0.2464 to surpass the current market capitalization of EOS. This value could become a reality due to the following factors that has put XLM ahead in terms of market momentum.

Potential listing on Coinbase

On July 13th, the team at Coinbase informed the crypto-verse that it was exploring the addition of 5 digital assets on its platform. They include Cardano (ADA), Stellar (XLM), Basic Attention Token (BAT), ZCash (ZEC) and Ox (ZRX). Given the fact that a similar announcement – made in June – considering the listing of Ethereum Classic (ETC) actually materialized, then there is a high chance that the group of 5 will be added on Coinbase. Once this happens, the only way is up for XLM.

facebook Rumors 

On Friday, August 10th, a story broke that Stellar had partnered with the social media giant known as facebook. The rumors had hinted that the two firms would work on the creation of a Stellar-based blockchain solution for facebook. The latter company has since denied the partnership rumors but the question still lingers in the crypto-verse.

The IBM factor

The Stellar foundation and IBM have been in a solid partnership for quite sometime now. Notable collaborations include the following:

In conclusion, the Stellar project and coin seem to have a lot going for them in the past few months. These developments will most likely result in XLM edging out EOS from the number 5 spot. Another possibility is XLM ending up surpassing XRP and claiming the number 3 spot.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Bitcoin Dominance Drops Significantly, Further Worrying BTC Investors

The cryptocurrency markets are experiencing some sideways movement this morning (UTC + 3) with the total market capitalization showing some stability above $250 Billion and at current levels of $254.65 Billion. The same cannot be said about the dominance of the King of Crypto in the markets. Bitcoin (BTC) dominance seems to be declining at the current levels of 47.4%. BTC has dropped from 48.76% levels witnessed less than 3 days ago on August 3rd.  This is a drop of 1.36% in the same time period.

BTC Dominance on August 3rd. Source, coinmarketcap.com

The dominance of Ethereum (ETH) has however increased to current levels of 16.26% from those of 15.62% witnessed on the 3rd of August.

The same August 3rd saw BTC 24 hour trade volumes of $4.6 Billion. That volume is now at $3.798 Billion indicating a significant drop in the market action of Bitcoin. The volumes of ETH have dropped from $1.88 billion to current levels of $1.4 Billion in the same time period.

Looking at the preferred stable coin – Tether (USDT) – during times of decline in the markets, its daily trade volume has been surging on a constant basis in the last month or so. This indicates that investors are choosing to hold on to USDT whenever there is market turmoil.

Regular daily trade levels of USDT are fluctuating from $1.5 Billion to around $3 Billion. But on the 28th of July, this value reached a staggering $13.487 Billion in one day.This is a clear indication of a worried or overly cautious Bitcoin and Ethereum investor base.

What also has been noted in the last 24 hours, is that some alternative coins have gained significantly in the markets indicating a shift from the top 5 crypto assets of BTC, ETH, XRP, BCC, EOS and LTC.

Ethereum Classic (ETC) is still basking in the news of a confirmed addition on Coinbase and is currently up 4.26% in the last 24 hours and trading at $17.32. ZCash (ZEC) is also up 3.37% in the last 24 hours and currently trading at $182. DigiByte (DGB) is up 3.58% in the last 24 hours and currently trading at $0.0334.

MOAC current value. Source, coinmarketcap.com

The most impressive of the top 100 digital assets according to coinmarketcap.com is MOAC (MOAC) that is currently up 12.67% in the last 24 hours and trading at $4.50 at the moment of writing this.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Increment of Bitcoin Dominance to 46% is a Sign of Investor Confidence in the BTC Rally

The King of Crypto looks like it has its eyes set on the $8,000 value mark with its current momentum this Monday morning. Bitcoin (BTC) managed to maintain its volumes during the weekend. The concern by many traders was that BTC volumes are known to decrease during the weekends. But BTC managed to maintain its value to end Sunday at $7,525. The same Bitcoin is now valued at $7,674 at coinmarketcap.com with some exchanges such as Bitfinex witnessing a BTC value of $7,820.

BTC reaching $7,820 on Bitfinex.com

Bitcoin dominance has also increased considerably in the past 3 months. The dominance of BTC in early May stood at around 36% of the total crypto markets. The same dominance now stands at 46% with signs of this value increasing within the week.

Current BTC dominance. Source, coinmarketcap.com

The increment of the BTC dominance from 36% to 46% in a period of less than 3 months is a sign that there is investor confidence in the digital asset. During the same time period, the price of Bitcoin saw its lowest levels on the 29th of June when it was valued at around $5,800. Bitcoin has since increased in value by 31%.

The investor confidence in BTC can be attributed to the following factors as Ehereum World News has highlighted over the past week or two:

  1. Coinbase Custody service attracting a hedge fund worth $20 Billion
  2. Several market leaders calling for Bitcoin to move higher, including longtime BTC bear at BK Asset Management, Boris Schlossberg
  3. BTC having hit the bottom of the year
  4. Thomas Lee assuring that the time to buy Bitcoin is now
  5. Continual technical analysis
  6. The Bitcoin ETF frenzy
  7. BlackRock investment firm declaring it is exploring blockchain and cryptocurrencies
  8. Other institutional investors
  9. The general mood and feel of crypto enthusiasts who believe the time for a bull run is now

Summing it up, with the new week comes new possibilities for Bitcoin. This is the week many crypto traders expect the King of Crypto to make it to $8,000 and make it higher up to possibly $10,000. The current rally has also resulted in the King of Crypto increasing its dominance in the crypto-markets to 46%. This is a sign of investor confidence in the digital asset moving forward into the second half of 2018.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Today’s Impressive Gainers: Stellar (XLM), Ox (ZRX), DASH and Bitcoin Diamond (BCD)

The crypto-markets usually exhibit some sort of fatigue during the weekends that is usually evident through low trade volumes. Ethereum World News had put forth the idea just yesterday that Bitcoin (BTC) might face an uphill task as it attempted to maintain the gains it had achieved during the past week through the weekend. But the King of Crypto has stood its own in the crypto markets and is currently trading at $7,438 at the moment of writing this. The new BTC resistance level is between the ranges of $7,500 and $7,600. Hopefully with the new week, we will see levels of BTC that are close to $8,000.

With the stability of Bitcoin and its dominance at 45.2%, the total market cap of the crypto markets has also remained stable and is currently at $282.15 Billion. Whenever BTC is stable or is in an upward trajectory, the rest of the market also shows some gains. Below are four cryptocurrencies that have increased by impressive percentages in the last 24 hours.

Today’s impressive gainers. Source, Coinmarketcap.com

Beginning with Stellar (XLM), the coin has been in the spotlight for quite sometime now. Coinbase recently announced that it was exploring adding the digital asset to its platform together with Ox (ZRX), Basic Attention Token (BAT), ZCash (ZEC) and Cardano (ADA). XLM is also benefiting from the news that IBM will be launching a stable-coin on the Stellar blockchain. The coin also received Sharia-compliance only last week. It is no wonder that XLM is currently trading at $0.29 and up 7.58% in the last 24 hours.

DASH on the other hand is also up 4.42% in the last 24 hours and currently trading at $254 at the moment of writing this. Unbeknownst to many, DASH is one of the best privacy coins out there.

Ox (ZRX) is still basking in the news of Coinbase exploring adding the digital asset to its platform. ZRX is currently trading at $1.17 and up 6.69% in the last 24 hours.

The most impressive coin amongst the four, is Bitcoin Diamond (BCD) that is up 55.41% in the last 24 hours and currently trading at $3.46. The reason for this impressive rise of BCD is yet to be determined but the coin has been prone to numerous spikes this past month.

In conclusion, it is safe to say that BTC is going to be stable into the new week. This then means that alt-coins might have impressive gains of their own in the next 7 days as can be seen with the four that we have just highlighted above.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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All Green as Crypto Markets gain $10 Billion and Bitcoin (BTC) Up by 4%

The general mood and feel in the crypto-markets is one of a recovery that is yet to be confirmed at the moment of writing this. Many seasoned crypto-traders had speculated that Bitcoin (BTC) had been oversold beginning Thursday, 12th July. This trend would then continue for a total of four and half days up until today, Monday, 16th July. One had to just visit the numerous crypto chat rooms on Telegram to know that there was a Bitcoin ‘pump’ coming soon. BTC is currently trading at $6,623 and up 4% in the last 24 hours.

BTC market performance since Thursday, 16th of July. Source, coinmarketcap.com

The total crypto market capitalization has also gone up by a cool $10 Billion as part of the unconfirmed market recovery.

Crypto market capitalization from early Monday. Source, coinmarketcap.com

Blackrock factor and other institutional investors

One of the reasons for the sudden surge in the price of Bitcoin, is news that one of the largest asset management firms known as Blackrock, is evaluating the possibilities of blockchain technology and cryptocurrencies at the firm.

Larry Fink, Chief Executive Officer of BlackRock, is quoted as saying the following during an interview with Reuters:

We are a big student of blockchain [but we do not see a] huge demand for cryptocurrencies.

At first glance, his statement can be viewed as ‘sitting on the fence’. But knowing how CEOs of big companies like to be cryptic, this can only mean that Blackrock is in with both feet when it comes to blockchain technology and cryptocurrencies.

This news echoes an earlier article by Ethereum World News that highlighted yet another traditional stock exchange that is crossing over to cryptocurrency investing as well as trading. The Swiss based SIX exchange plans on building a fully integrated trading, settlement and custody infrastructure for digital assets. SIX is regulated as an operator of Financial Market Infrastructure (FMI) by Swiss Authorities, FINMA (The Swiss Financial Market Supervisory Authority) and the Swiss National Bank.

Perhaps it is safe to conclude that the days of a bear market might just be behind us with the declaration of Blackrock evaluating blockchain technology as well as cryptocurrencies and the earlier news of SIX creating a trading platform for digital assets.

Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

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Tron (TRX) To Host Coordinated Hackathons To Guarantee MainNet Network Security

The Tron (TRX) foundation and Justin Sun have made cyber security nn the Odyssey v2.0 MainNet platform a critical aspect in the development of the project. This was why the Foundation launched Project Genesis (TronPG) back in mid April. The main goal of the project was to reward the Tron developer community by providing an avenue to participate in the development of the project with financial incentives in the form of the said rewards.

The total funds set aside for TronPG is $2 Billion and includes the currently ongoing Tron Loan program and Bug Bounty program. Also to note is that there will be a scheduled Tron Hackathon in the month of September this year to further the security efforts on the MainNet platform. Developers will test vulnerabilities in the network and the Tron foundation will set aside millions of dollars as rewards for any individual or developer teams that manage to find any.

Also in the month of September, will be a Tron Developer’s Convention that is to be organized by the Tron foundation.

Recapping on the events on the Tron road-map for the month of June, we find that there is the token migration that begins on the 21st of June to the 24th. Users and HODLers are advised to move their tokens to the numerous exchanges that will support the token swap before the 24th of the same month. With the bug bounty program also ongoing, the MainNet is being tested for vulnerabilities with the Genesis Block scheduled for the launch on the 25th of June.

This means that the month of June will be an eventful month for the Tron project and token. Justin Sun had earlier announced his hopes for TRX being a top 6 coin once again.

Current market analysis indicate that the token is currently ranked 10th on coinmarketcap.com. TRX is also trading at $0.59 and down 4.18% in 24 hours at the moment of writing this.

In general, the crypto-markets have regained some much needed volume to begin the week with. The total market capitalization currently stands at $343 Billion with the King of Crypto, BTC, trading at $7,600. Speculation is high that Bitcoin (BTC) will be able to lead the charge in a market recovery and possibly get to much needed levels of above $8,000.

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Ethereum (ETH) and Tron (TRX) Drop By 9% In 2 Hours

Something unique happened to both Ethereum (ETH) and Tron (TRX) this morning at around 3:54 am (UTC). Both these cryptocurrencies started dipping and continued on a downward spiral for close to two hours as shall be explained.

Ethereum, at the said time of 3:54 am (UTC) was valued at $575.96. Two hours later at 5:59 am (UTC), the King of Smart Contracts was valued at $524.51. This is a drop of 8.93% in the said time period. Ethereum has since somewhat recovered and is currently trading at $537.75 at the moment of writing this.

Analyzing Tron (TRX) during the same time period, indicates that the token was valued at $0.07047 at  3:54 am (UTC). Checking the price once again at 5:59 am (UTC) on coinmarketcap.com, we find that TRX had dropped by 9.33% to a value of $0.0639. TRX is currently trading at $0.0655 at the moment of writing this.

So what exactly is going on?

Firstly, the crypto market is in a bearish trend with the King of Crypto, Bitcoin (BTC), unable to maintain levels above $7,500. BTC is currently trading at $7,237 with some experts predicting that it will drop further to $5,700 before things start getting better. Willy Woo is the analyst who has made this observation and cites the following four reasons as to why BTC will keep dropping as well as our favorite alternative cryptocurrencies.

  1. High NVT signal
  2. High volatility
  3. Standard NVT overly high
  4. Volume Profile cliff below $6,800

Mr. Woo is quoted as saying the following with respect to the NVT (Network Value to Transaction) signal

NVT Signal is still too high. We need more blockchain transactional activity to justify the current price, or the price to drop to reconcile the difference. To drive up transactional activity in a bear slide is very unlikely. Volatility is still too high. I’m looking for a sustained low band of volatility which tends to be a signal for the end of the detox and the next accumulation phase. It’s still got some time to ride down

More on how to calculate the NVT can be found on WooBull.com.

Secondly, the is also speculation that the current market decline of Bitcoin is as a result of market manipulation that was catalyzed by the Bitcoin Futures being offered by the CME Group and CBOE back in December.

Both theories might hold some water as the market continues to dip. One can only HODL, cash out or decide on a suitable entry point to get more crypto in the markets.

Disclaimer: This article is not meant to give financial advice. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
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BIG 5 (BTC, ETH, XRP, LTC, BCH) Listed On LMAX Exchange: $10 Trillion In Fiat Traded to Date

The Big 5 cryptocurrencies received a major boost on the 21st of May, when London based LMAX Exchange announced it will start offering on its exchange, the most liquid and established cryptocurrencies of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH). Crypto trading on the exchange is now a 24 hour operation, 7 days a week, all year long. Trading will be governed by similar rules and principles as LMAX Exchange’s FCA regulated MTF (Multilateral Trading Facility).

Of noteworthy mentioning is that the LMAX exchange has already handled over $10 Trillion in FIAT trading since inception and has institutional clients in over 100 countries. The institutional clients are what makes this announcement exciting for any crypto trader. These are the so called ‘top dogs’ of trading: The big shot ‘Wallstreet’ firms and top banks around the globe.

The announcement by LMAX had this to say through their CEO, David Mercer, with respect to institutional investors:

The rise of institutional trading of crypto currencies will be a game-changer for the industry. We believe our new exchange will support the transformation of the crypto market from the fringes to the mainstream. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major crypto currencies into wider circulation, helping them to become accepted into conventional funds which in turn will help to support a normalisation of value.

The exchange has been improved to offer secure trading in this current crypto industry where hacks are possible. One cannot fail to mention the recent hack of the Verge (XVG) blockchain by rogue miners who wanted to mint XVG from thin air. Also to remember is the Coincheck hack that relieved of the exchanges some $500 Million worth of NEM (XEM) at one go. Therefore, security is of importance for the exchange.

The announcement by LMAX comes at a welcome time when the crypto-markets have been having a hard time maintaining good volumes. We have seen the total market capitalization touch $400 Billion only to drop to $330 Billion in a matter of a few days. The figure now stands at $338 Billion with many hoping that the news that South Korean regulators will ease their stance when it comes to crypto trading in the country, will boost the volumes once again.

We are all aware that the amount of trading and crypto ownership by South Korean residents was pretty high in early January before regulation kicked in and left the markets in chaos. This news could catalyze a return of previous good times in the crypto-verse.

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‘Tron (TRX) Will Be A Top 6 Coin Again,’ Justin Sun

The countdown to the Tron (TRX) Main Net launch is still ticking and lessening at the rate of one second as is the standard that is agreed internationally. The countdown currently reads 20 days 14 Hours 30 Minutes on the Tron Website. This is in less than three weeks away.

In the gentleman manner of Justin Sun’s continual communication with TRX HODLers, he wrote a letter to the Tron community. This letter is available on the TRON Medium page. In it, he explains to the HODLers that the path is set for a Top 6 finish of TRX in the near future. Such a feat would be accomplished in a manner similar to what happened on January 5th, but this time, TRX will permanently hold its position at the top.

Justin said the following in the letter about finishing top 6:

Expectations for the future are even higher. Our next goal is to become one of the top 6 cryptocurrencies in the world. We have actually achieved top 6 briefly on January 5, 2018 during TRON’s astounding sprint out the gate. In 2018, we will reclaim and secure this title, which will mark TRON’s global status as a mainstream public blockchain and lay a solid foundation for competition with Ethereum.

Justin emphasizes the youth and brilliance exhibited by the Tron Team and this will be the major reason for the project to succeed and accomplish a top 6 position.

Now that we are in the top 10, each move up will signify a significant change in the cryptocurrency structure. TRON is the youngest of the ten, but we are the most professional, with a team that brings experience from mainstream Internet companies like Alibaba. Compared to most stagnant crypto companies, TRON is agile and embraces change.

Justin is also quick to mention on the status of the Main Net which will be launched on the 31st of May. He reiterates that the platform is undergoing rigorous tests and should be ready and on time.

We have also conducted high volumes of simulations, optimizing dozens of core parameters with binary exponential backoff (BEB) algorithms.

The Tron DApp ecosystem currently has over 20 startup teams developing on TRON. With such promising projects, it is only a matter of time until TRON really decentralizes the web and TRX gathers some more momentum in the markets.