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The Problem with Fidelity’s Crypto Trading Platform

October 16, 2018

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Crypto Market Update (22 May 2018)

General Market Outlook


There continues to be no definitive movement on Bitcoin. It continues to trade around the $8,000 to $9,000 range, and is currently at $8,200. Ethereum dropped below $700, but similarly has been trading between the $650 and $850 range. The Buy Markets Percentage for BTC has turned up since bottoming yesterday. There are very few coins moving upwords today from the top 100, however there are no massive drops happening. Steem (STEEM) is only up about 5% currently, but has been one of the few coins in an uptrend for the past several days.



Major Headlines


5 Cryptocurrencies added to London Stock Exchange


LMAX Exchange Group looks to lead the transformation of the global FX industry to transparent, fair, precise and consistent execution. The operate global trading of metals, indices, commodities and now cryptocurrencies. LMAX Digital is the institutional crypto currency exchange, run by on proven, proprietary technology from, allowing global institutions to acquire, trade and hold Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple safely and securely.


“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.” - David Mercer LMAX CEO


Ohio proposes bill to legitimize smart contracts & blockchain data


The bill mends sections of the Uniform Electronic Transactions Act to include blockchain records and smart contracts as electronic records with such definitions as: “If a law requires a record to be in writing, an electronic record satisfies the law.” Automated transactions - smart contracts - are legally enforceable as any other contract may be. A minor addition, but certainly relevant to the overhaul in payment processors relates to signitures - “A signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature.”


Binance lists TrueUSD


Tether is by far the biggest stablecoin by volume right now, and recently minted $250 million USD worth of new Tether. Binance is the largest exchange by volume overall, but not for Tether. The exchange will be listing TrueUSD today, which operates similarly as a 1:1 pin of USD. But unlike Tether, TUSD are only generated when users buy new ones with cash through the app. These purchases can be places in batches. Instead of having USD reserves in a bank account controlled by a single company, USD is held in the bank accounts of multiple trust companies that have signed escrow agreements. Amounts in these bank accounts are published each day and are subject to monthly audits. The toke operates through the TrustToken platform, which offers tokenization services to all assets.



Top 5 Gainers


Datarius Credit (DTRC) +90.55% at $0.008641

Rupee (RUP) +55.55% at $0.135156

DAO.Casino (BET) +49.82% at $0.060709

Helbiz (HBZ) +46.94% at $0.020794

WomenCoin (WOMEN) +46.20% at $0.000412



Top 5 Losers


Arbitracoin (ATC) -48.52% at $0.033102

Aditus (ADI) -26.68% at $0.035276

Octanox (OTX) -25.05% at $0.031369

Peerguess (GUESS) -24.92% at $0.035816

ATMChain (ATM) -22.96% at $0.002772



New Coins Listed


TrueUSD (TUSD) listed to Binance and Cryptopia

Zcash (ZEC) listed to Gemini

Alphacat (ACAT) listed to HitBTC

OPEN Platform (OPEN) listed to KuCoin




By: BGN Editorial Staff

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