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The Problem with Fidelity’s Crypto Trading Platform

October 16, 2018

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Crypto Market Update (2 May 2019)

 

General Market Outlook

 

The market continues to move steadily upward. A slight majority of coins are seeing positive percentage gains, without much extreme changes. Trading volume has continued to trend between $40 billion and $44 billion in 24 hours. Aurora (AOA) and Binance Coin (BNB) are the major stand outs of the top 100 coins by market cap - up over 11% and 9% respectively in the past 24 hours. The value of Bitcoin (BTC) is just over at $5,500 for +2.5% and a total market dominance of 54.7%, and the value of Ethereum (ETH) is just over $161 for +0.5% change in the past 24 hours. Market cap for the overall cryptocurrency market gained almost $5 billion, rising to over $178 billion total.

 

 

Major Headlines

 

Bakkt Acquires Cryptocurrency Custodian

 

Last year the Intercontinental Exchange revealed they would be establishing an institutional cryptocurrency trading platform. Bakkt is now nearing full launch. The company has most recently аcquired a much needed cryptocurrency custodian service. The move to acquire Digital Asset Custody Company (DACC) will help them earn the required regulatory approval. DACC’s native platform has support of 13 blockchains and 100+ assets. The entire DACC team will be joining Bakkt. The company has filed an application with the New York Department of Financial Services to operate as a trust company as well. This would enable the firm to serve as a Qualified Custodian for digital assets. Bakkt hopes to support physically-delivered bitcoin (BTC) futures, with contracts set to be traded on ICE Futures US (IFUS) and cleared on ICE Clear US (ICUS), which is a federally regulated exchange and clearinghouse regulated by the United States Commodity Futures Trading Commission (CFTC). “There is no pivot. From the ground up what ICE has been building for two years is the safest version of a custody solution for digital assets.” - CEO of Bakkt, Kelly Loeffler,

 

HTC Generation 2 Exodus

 

Last year the Taiwanese consumer electronics company HTC launched a Blockchain focused smartphone called Exodus. And since then, a number of other blockchain or cryptocurrency focused phones have been released. Because of this the company will now be created an update version of their initial product. The new model will extend its supported blockchain apps to areas such as browsing, messaging and social media. Currently, the phone has support for cryptocurrency and transaction management, alongside personalized e-wallets. The new communication blockchain apps will be based on P2P blockchain network style connections, rather than being routed via cloud or mainframe boards.

 

Galaxy Digital Posts $273 Million Loss

 

The cryptocurrency investment bank Galaxy Digital showed a net loss of $272.7 million in 2018 according to the company recent press release. The company’s CEO Michael Novogratz is one of the world’s leaders in cryptocurrency support. He has lead the company as well as using it as a vehicle to sponsor numerous startups in the blockchain technology industry. “The results on the year weren’t great by any means… But it’s a little deceiving because for me what matters is the operating loss is and what our cash book does.” - CEO Michael Novogratz

 

 

Top 5 Gainers

 

PlayCoin [QRC20] (PLY) +94.85% at $0.027230

PlayCoin [ERC20] (PLY) +94.55% at $0.027230

SIX (SIX) +78.77% at $0.034792

FuturoCoin (FTO) +56.94% at $1.91

Ripio Credit Network (RCN) +29.26% at $0.033443

 

 

Top 5 Losers

 

Eterbase (XBASE) -22.90% at $0.002946

Happycoin (HPC) -21.84% at $0.046914

Bitcoin Private (BTCP) -19.59% at $0.197143

DIPNET (DPN) -18.25% at $0.000514

HOLD (HOLD) -14.93% at $0.000986

 

New Coins Listed

 

Zebi (ZCO) listed to BitMart

 

 

 

By: BGN Editorial Staff

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