Crypto Market Analysis (2 April 2019) BTC Hits $5000
Bitcoin Market Update
Yesterday, around 07:20 UTC+1, the Bitcoin price started a fast and furious rise to $4,740, an increase of over $542 in 30 minutes.
At the time of writing, the Bitcoin price is sitting at $4,735 representing a gain of 14.2% in the last 24 hours. More than $500M worth of BTC were exchanged in the BTC/USD market representing an 18% share of the global daily volume. The pair with most volume was the BTC/USDT with a 65.5% share.
Ethereum Market Update
The Ethereum price has risen 6.72% over the past 24 hours and is currently sitting at $153, with over $115M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 6.7% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 48% share.
Other Cryptocurrency News this week
XRP Exchange-Traded Product Goes Live on Swiss SIX Exchange
An exchange-traded product (ETP) tracking the price of the XRP cryptocurrency has gone live on Switzerland’s primary stock exchange SIX. With today’s launch, Amun AG, the maker of the product, now has a total of four cryptocurrency ETP products listed on the SIX exchange. Hany Rashwan, co-founder and CEO of Amun AG, said that Amun AG wants to make investing in cryptocurrency “as easy as buying a stock.”:
“We seek to create an easy, safe, and regulated way for investors to access the crypto asset class. We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year.”
Coinbase: Users Can Send XRP and USDC to Other Users For Free
According to a recent announcement on the Coinbase website, you can send “money” via XRP and USDC instantly and free of charge to any other Coinbase user, in any supported country. The company stated that this feature, which apparently has been quietly available since Feb 28th (which is when XRP got listed on Coinbase.com), this feature should not be considered a “money remittance” service since recipients need to perform their own conversions to local currency after receiving crypto. The company explained:
“You can now send money to any user with a Coinbase account around the world using XRP or USDC. By using cryptocurrencies that are optimized for cross-border transmission, you can send and receive money virtually instantly by sending those cryptocurrencies and having the recipient convert them into local currency.”
Coincheck Launches OTC Trading Service for Bitcoin
Yesterday, Japanese cryptocurrency exchange Coincheck has launched an over-the-counter (OTC) cryptocurrency trading service aimed at larger clients. While the service seems primarily to serve Bitcoin trades, Coincheck said it will consider trades in other cryptocurrencies. The company said its OTC trading desk will allow customers to buy and sell a minimum of 50 Bitcoins “quickly” at one go and at “attractive prices.” The service is available on weekdays between 13:00 UTC and 18:00 UTC. The announcement reads:Live Cryptocurrency Price Today
“We are pleased to announce that Coincheck (WEB) has launched a large-scale OTC trading service for large-scale customers. [Users have] The ability to quickly trade large amounts of virtual currency at once, at attractive prices”