Market updates/crypto/blockchain/news and more.
📌 Bakkt won't support margin trading
Bakkt: the new crypto trading platform that becomes legendary. More details received
Kelly Loeffler, Bakkt CEO confirms that this new platform will not support margin trading. And, moreover, all transactions processed on Bakkt will be fully secured by assets. In the "An evolving market", the new company's developing report, CEO says that for the new project it will be most preferable to refuse the use of leverage and margin trading.
Thus, the purchase of Bitcoin will be completed sooner or later, unlike to some derivative assets that only contain such a promise. At the end of the announcement, Loeffler notes that despite the massive decline of the digital assets market, an existing interest in this infrastructure indicates a strong "appetite" for this technology (among the various investors and companies, as we can understand).
📌 US government sponsors Distributed Ledger Technology (DLT) researchers
Distributed ledger will be used in science: more versatile adoption for blockchain
According to the latest information, Subhashini Sivagnanam, software architect and developer of Neuroscience Gateway (NSG), received $818,433 from the US Science Foundation to develop the Open Science Chain (OSC) project.
What is it? The OSC financed not by a financial, business, but scientific foundation will be implemented by using distributed ledger technology (DLT) and will allow researchers to work with data more productively. The platform will provide access to information obtained during various scientific experiments and laboratory studies.
Did you know? According to the survey, even a quarter of large companies are ready to invest up to $10 million in blockchain in 2019.
📌 Chinese bank issues securities on blockchain
$66 million of total worth produced only within the distributed network
Сhina Zheshang Bank, or CZB, commercial bank carried out the issue of securities in $66 million worth, using its own blockchain platform for the first time. By the way, this is the country's first large financial institution, which decided to issue assets based on its own distributed solution («Lianrong»).
Will the issue of blockchain-based assets be more common? Indeed, more companies are starting to launch their own securities with the help of virtual instruments. However, the initiative still belongs to the biggest/most trusted of them.
💰Market Cap: $208 748 666 337
💵24h Vol: $10 786 015 510
📊 Prices TOP 21.08.2018
↗️↘️Bitcoin: $6 429
↗️↘️ETH: $275
↗️↘️XRP: $0,329221
↗️↘️BCH: $523
↗️↘️EOS: $4,77
↗️↘️XLM: $0,218365
↗️↘️LTC: $55
↗️↘️USDT: $1,00
↗️↘️ADA: $0,092776
↗️↘️MONERO: $93,85
📌 Coinbase introduces principles for institutional investors
Exchange promotes «transparent» and open crypto market for investors
Adam White, Vice President & General Manager of Coinbase told about the principles on which the company's services for institutional investors are based. According to the Coinbase representative, these new products will attract new capital into the industry and bring Coinbase closer to the open financial system. Whether this happens or not, time will show. What is known now:
- The priority of the company is an open and secure market.
- Coinbase will protect investors from hacker attacks.
- Institutional investors will receive a set of rules.
- All market participants will be equal (how it will be realised, not mentioned clearly).
- The listing process will be public (probably a bit more than just an announcement).
Details about the development of the platform will be known later.
📌 Bank of Thailand defends cryptocurrency
Fraud is fraud, crypto is crypto: don't need to mix it, while regulation discussion comes
Have you heard the news about the major fraud case that occurred in Thailand? The 22-year-old investor from Finland lost a total of 5,664.4 Bitcoins ($24 million at the time of the loss) as a result of the work of foreign scammers.
«The money is used for the wrong purpose. It is not a fraud that occurred during crypto trading.»
Bank of Thailand (BOT) Governor, Mr. Veerathai Santiprabhob
So, this incident could probably provoke the restriction of the crypto activities and intensification of anti-illegal inspections. However, Thailand regulators assured investors that this case is not a consequence of the threat, influenced by cryptocurrency only, keep in mind that this is only an instrument.
Only several cryptocurrencies are allowed In Thailand, among which are: Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple and Stellar.
📌 «No Recovery For Crypto Markets»
Altcoins dump indicates a serious market decline
In conclusion, we would like to provide a general overview of the market. At the moment, there is a local impulse to decline, during which the losses among the top 10 are estimated at no more than 7%, for other coins this indicator was slightly worse. The biggest losses are shown by Tezos and EOS, the same trend may soon further crush other assets.
Do we have negative news? Author (source) says:
Nothing seems to be able to give the markets the lift they need at the moment, there have been no hacks or negative news prompting the plunge.
Any good news is having a negligible impact on the whole ecosystem, just the odd pump and dump for individual altcoins. The 2018 downtrend is still holding strong.
But, we think that this is not entirely true. Now the bearish tendency can be continued because of a hypothetical refusal of ProShares Bitcoin ETF by SEC (remember that decision will be declared at August 23). On the other hand, investors can now be on the wave of a longer-term downward movement (although there are also alternative opinions), which, according to various estimates, can last from several months to several years.
💱 Exchanges: 24h volume
Binance 1.31B → 19.85%
OKEx700.45M → 10.62%
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