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The Problem with Fidelity’s Crypto Trading Platform

October 16, 2018

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General Market Outlook

General Market Outlook


Bitcoin and Ethereum are still moving sideways in consolidation. The buy markets percentage for BTC has bottomed out - this weekend could begin the turn to come out of consolidation. Overall there is very little upward movement in altcoins. Major coins such as EOS have continued to move downward.


Major Headlines


Circle and CENTRE USD-C

Circle just signed the deal on $110 million Series E fundraising, led by China-based mining equipment manufacturer Bitmain. The announcement also came with news of a partnership with the CENTRE project. The biggest part of the partnership is in creation of a stablecoin for circle’s payment network. The consistent problem for any businesses without experience with cryptocurrencies is “if I accept Bitcoin, what if it crashes?” There are tons of projects out there using various methods to create a coin that has a stable price. Circle and CENTRE will be releasing a USD - Coin (USD-C) with the straightforward fiat-collateralization backing $1 of coin with $1 of USD. This coin would not be limited to Circle’s payment apps, and their hope would be for widespread adoption. The more users the are, the more stable the price.


Ripple Launches Venture Capital

Ripple’s business model is becoming a smaller piece of what other companies like Coinbase, Circle, Huboi, Robinhood and other platforms are doing with all the their developments. In some way all these companies are bridging the gap between cryptocurrencies, fiat and businesses - many are adding venture capital funds. A Ripple VP with experience at Facebook makes a comparison: “we saw companies in areas like gaming, music, and news use our platform to become big businesses. Blockchain and digital assets have the ability to solve important problems and XRP… is a great tool for startups and entrepreneurs to build businesses around.” It’s not clear that Ripple, or XRP, has the unique offering that Facebook does.


Ethereum Futures

CME Group is one of the world’s largest derivatives exchange operators, and is preparing to hav Ethereum listed as a futures option.The exchange is based out of Chicago, a city that is pushing the boundaries of cryptocurrencies, as Cboe was the first American exchange to list Bitcoin futures. CME has partnered with a group of large cryptocurrency exchanges to create an Ether Reference Rate and Ether Real Time Index. It will provide standardized and audited pricing data for ETH/USD trading pairs, as well as a daily benchmark price. Managing director and global head of equity products and alternative investments Tim McCourt conveyed excitement - “We are excited to be contributing to the strong community that has developed around the Ethereum network by providing a reliable reference rate and real-time Ether-Dollar price.”



Top 5 Gainers


Bank Coin (BANK) +171.70% at $0.107882

APR Coin (APR) +137.12% at $4.44

Hydrogen (HYDRO) +75.79% at $0.011107

BioCoin (BIO) +49.49% at $0.008522

CryptoPing (PING) +38.47% at $0.590313



Top 5 Losers


Peerguess (GUESS) -35.09% at $0.052646

Lamden (TAU) -22.54% at $0.206525

ReeCoin (REE) -22.23% at $0.000346

Payfair (PFR) -19.82% at $0.079064

Vibrate (VIB) -19.63% at $0.182999


New Coins Listed


CoinPoker (CHP) listed to KuCoin


Gifto (GTO) listed to Bithumb

Loopring (LRC) listed to Bithum

TenX (PAY) listed to Bithumb

WAX (WAX) listed to Bithumb


Storm (STORM) listed to Bittrex

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