Bitcoin Market Analysis Report 07 March 2019
Market Update for Bitcoin
At the time of writing, the Bitcoin price is sitting at $3,877 representing a gain of 0.63% in the last 24 hours. More than $140M worth of BTC were exchanged in the BTC/USD market representing an 8% share of the global daily volume. The BTC/KRW pair represents an 8% share.
Market Update for Ethereum
Market updates for Ethereum price are currently sitting at $136.33 dropped to -1.26% over the past 24 hours and over $60M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 4% market share of the daily trading volume.
Switzerland’s Main Stock Exchange Launches Ethereum ETP Trading
Switzerland’s main stock exchange, the Zurich-based SIX, has reportedly launched trading of an Ethereum exchange-traded product, the Amun Ethereum ETP (AETH). According to the exchange’s website, the first trading day was on the 5th of March and the Swiss startup Amun AG will be the ETP supplier. On top of that, Flow Traders B.V., a liquidity provider that specializes in exchange-traded products, is set to provide AETH market making services.
QuadrigaCX CEO Widow Demands a Reimbursement of $225,000
Jennifer Robertson, the widow of Gerald Cotten and actual CEO of Canada’s biggest crypto exchange QuadrigaCX, has requested for reimbursement of $225,000 in court fees. Robertson, who initially filed an affidavit with the Supreme Court of Nova Scotia to reveal the death of CEO Gerald Cotten and the loss of over $150 million in crypto and cash by QuadrigaCX, reportedly claimed she had spent $225,000 to secure QuadrigaCX protection from creditors. News that wasn’t well received by the QuadrigaCX’s creditors who are protesting against the reimbursement of $225,000 to Robertson. Gavin D. F. MacDonald, a partner at Cox & Palmer, a law firm representing the creditors of QuadrigaCX, said:
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“We are concerned about the repayment by the applicants of C$300,000 to Ms. Robertson in the first week of March contemplated by the filed cash flow projection.The repayment contemplated by the cash flow is inappropriate until such time as the monitor has reviewed the requested information and satisfied itself as to the source of funds used to fund the CCAA proceeding.”
Huobi’s Over-the-Counter (OTC) Trading Desk Adds XRP
Recently, Singapore-based digital asset exchange, Huobi, has announced that it is supporting XRP trading through its over-the-counter (OTC) exchange. In the press release published, Huobi Global’s management stated that the XRP trading started at 10:00 March 6 (GMT+8). Commenting on the new listing, the CEO of Huobi Global, Livio Weng, stated:
“In addition to serving as Huobi Global’s main onramp, Huobi OTC is also our main platform for users who prefer peer-to-peer (P2P) trading. It’s thus very important to our overall trading ecosystem. The addition of Ripple (XRP) is a big step forward in expanding our already extensive offering here.”