Houbi’s Derivatives Market Has Surpassed $20 Billion
According to news outlets, Huobi,one of the largest crypto currency exchange in the world might have surpassed $20 billion.
While this might not be a great of a deal but considering that they have just launched the service last November 21, 2018 this feat is nothing short of spectacular.
Huobi’s crypto derivative market is indeed growing at a pace that no one could have predicted it would.
The derivatives market of Huobi (Huobi DM) offers three major cryptocurrencies.
These are Bitcoin, Ethereum and EOS.
Each of this has weekly, bi-weekly and monthly markets.
This type of derivatives market works very similar to traditional commodities markets except, instead of your usual assets, Huobi DM work with cryptocurrencies.
It is safe to conclude that we will see additional markets being added in the platform due to the overwhelmingly positive response to the new financial product offering despite current market conditions.
According to Huobi Global CEO Livio Weng, the reaction of the market reinforces the company’s belief that Huobi DM is catering to the needs of their customers who want to be able to manage the risk of spot market fluctuations.
Co-Founder Of Ethereum Joins ErisX
The internet is abuzz with news that the co-founder of Ethereum and ConsenSys, Joe Lubin will be joining a new cryptocurrency-related startup, ErisX, as one of its Board of Directors.
The business entity is reportedly the reboot of Eris Exchange’s futures market that was originally established back in 2010.
The rebooted startup has the backings of financial industry giants like Fidelity Investment as well as Nasdaq Ventures.
It is expected that the exchange will offer spot trading for Bitcoin, Ethereum, Litecoin and some futures markets.
Lubin will be joined by Cris Conde, a successful software company executive.
Conde successfully stirred a financial software service provider to be one of the few software and services firms to make the fortune 500 list.
The two executives will be bringing to the table years of important experience in the field of software development from both the traditional financial markets as well as cryptocurrencies.
It seems that ErisX is shaping up to be a force to be reckoned with in the cryptocurrency space.
Back in October of last year it was reported that retail brokerage firm TD Ameritrade, investing company DRW holdings and high-speed trader Virtu Financial will be backing ErisX, agreeing to be maret makers for the platform and consequently ensuring that the new exchange will have a very deep order book .
Coinbase Acquires New Tech Startup Blocksping
One of the largest and most successful cryptocurrency companies in the U.S., Coinbase has recently made another Tech startup acquisition.
According to sources, the crypto giant has acquired San-francisbo-based Blockcspring which produces tools that enable developers to automatically gather and process information from application programming interfaces (APIs).
Blockspring was founded in 2015 with the financial backing of several well-known investment and funding firms.
It has been reported to have raised around $3.4 million in a funding round led by venture capital firm Andreessen Horowitz and seed-stage investment firm SV Angel.
It was also supported by venture fund Y Combinator.
The company will remain an independent entity and any changes to its business will not be binding on the company’s current and new customers.
It seems that Coinbase has been expanding its portfolio of acquired startups.
Just this August, it has acquired Distributed System Inc. which works on decentralized identity solutions.
Better Year Ahead Compared To 2018
2018 might have been one of the most difficult year in cryptocurrency history.
A lot of cryptocurrency projects have ben affected by the persisting cryptocurrency bear market that they are forced to downsize or run the risk of closing shop.
However 2019 might be a better year for the new asset class, well at least according to a group of experts in the field of cryptocurrency and blockchain.
This is according to a survey conducted by Finder.com
The group consists the founder of tradercobb.com, Craig Cobb; CEO of finder.com and hiveex.com, Fred Schebesta; Venture partner at Blockchain Captical LLC , Jimmy Song; CEO of Wishknish, Alisa Gus; COO of Digital Capital and CEO of Bitcoin Advisors Ben Ritchie and Joseph Raczynski of joetechnologist.com.
While each of the participants have their own biases, the general consensus reveals that most of them believes the market value for all the mentioned cryptocurrency will be lower in February except for Stellar lumens and Cardano.
American University Professors Creating The Next Generation Cryptocurrency
It has been reported that 6 university professors from across the United States have joined forces with the primary objective of creating a new cryptocurrency that is way faster compared to Bitcoin.
These professors come from the most prestigious universities in the U.S. including from Massachusetts Institute of Technology, Standford University and the University of California.
The new cryptocurrency will be named Unit-e and should be able to process thousands of transactions a second.
The initiative was made possible through the Distributed Technology Research (DTR) a non-profit foundation formed by the universities backed by the hedge fund Pantera Capital Management LP.
DTR was founded to develop decentralize technologies that could help the industry going forward.
According to DTR one of the main reason for the slow adoption of Crypto particularly bitcoin is its scalability limitation.
On the average, Bitcoin can only process 3.3 to 7 transaction per second and Ethereum on the other hand can only do 10 to 30 transactions per second.
The researchers hope to be able to have 10,000 TPS for Unit-e.
Headlines for the world of Cryptocurrencies - January 18, 2019Cold Storage Trading Launched / South Africa Not Inclined To Band Cryptos / Coin-Counting Machines Now Offers Bitcoin Purchases / Bitcoin ETF Application Heating Up / Investors Not Taking The Plunge To Crypto Space |
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Headlines for the world of Cryptocurrencies - January 17, 2019The Main Stock Exchange In Thailand Applies For Cryptocurrency License / New Fiat-To-Crypto Outpost For Binance / Wyoming Mulling Over Tokenize Stock Certificates / $16 Million In Series A Investment For Blockchain Supply Chain Platform / Brave Launching Pay-To-View Initiative |
Headlines for the world of Cryptocurrencies - January 16, 2019Digital ID System of Canada May Secure Data Using Blockchain / Binance’s 6th Quarterly Coin Burn Completed Without Incident / Oil Companies Joining Blockchain-Powered Energy Commodity Trading / South Korea Achieving Administrative Transparency Via Blockchain / South Africa Starts Monitoring Cryptocurrency Transactions This Year |
