Crypto Market Update (10 April 2019)
Bitcoin Market Update
Market prices for cryptocurrencies has continued to float on the above $5k USD for 4 days now. Todays bitcoin price is currently tradding at $5,249 representing a gain of 0.37% in the last 24 hours. More than $200M worth of BTC were exchanged in the BTC/USD market representing an 11% share of the global daily volume. The pair with most volume was the BTC/USDT with a 74.5% share.
Ethereum Market Updat
In the same way as bitcoin gaining improvement, over the last 5 days, Eth has as well tradded extreamly higher. Ethereum price has risen 1.66% over the past 24 hours and is currently sitting at $181, with over $100M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 4.7% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 54% share.
Nathaniel Popper: Facebook Seeking $1 Bln Funding For Cryptocurrency
Nathaniel Popper, the author of Digital Gold (one of the most popular books on Bitcoin), said via Twitter that Facebook is planning to get more venture capital firms to invest in the ongoing development of its cryptocurrency. According to Popper’s sources, Facebook’s management might be seeking investments of around $1 billion. Popper also stated that sources told him Facebook is “talking about using the money as collateral for its cryptocurrency.” Popper’s post reads:
“Facebook has been designing the coin to keep a stable value, pegged to a basket of foreign currencies held in bank accounts.”
Bitstamp Granted BitLicense To Expand Crypto Services in the US
Yesterday, the New York Department of Financial Services (NYDFS) awarded Bitstamp, one of Europe’s largest cryptocurrency exchanges, the 19th BitLicense, allowing the exchange to offer Bitcoin, Litecoin, Bitcoin Cash, Ether and XRP trading pairs to the state’s residents. To get to this point, Bitstamp and NYDFS have discussed various aspects of the exchange’s operation, Bitstamp’s CEO Nejc Kodrič explained:
“There were questions all around how the matching engine works, how we store crypto, how we conduct audits. The license is a set of rules and procedures you have to follow on a daily basis, so once you do that you can receive a BitLicense.”
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Bitfinex Drops Minimum Balance to Trade on Crypto Exchange
Bitfinex has removed its $10,000 minimum equity requirement to start trading on the cryptocurrency exchange, enabling a broader range of investors to participate. The company, based in the British Virgin Islands, cited “overwhelming demand from a wide variety of traders” for the change. Jean-Louis van der Velde, CEO at Bitfinex, wrote on the company’s corporate blog yesterday:
“We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base. For the last six months, we have been working hard to ready our platform for a new wave of customer accounts and are now in a position to open Bitfinex to a wider audience. By dropping our minimum equity requirement, the only limits are now set by the traders themselves.”