Cboe Reportedly Close to Launching Ethereum Futures

Cboe Global Markets, which in December last year made Bitcoin futures available for trading on the Cboe Futures Exchange (CFE), is now preparing to launching Ethereum (ETH) futures. According to a report by Business Insider, Cboe “is telling market makers it is close to rolling out futures for ether, the second-largest cryptocurrency by market capitalization.” […]
Source: Forklog




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Yahoo! Finance Rolls Out Bitcoin Core, Ethereum, Litecoin Trading

Yahoo! Finance Rolls Out Bitcoin, Ethereum, Litecoin Trading

“The virus is spreading,” tweeted Morgan Creek Digital’s Founder & Partner Anthony Pompliano at the news Yahoo! Finance (YF) had integrated bitcoin core (BTC), ethereum (ETH), and litecoin (LTC) into their trading platform. He was one of many enthusiasts to insist the event was an important step in the quest for mass cryptocurrency adoption.

Also read: Venezuela Loves Dash: Altcoin Surges 30% on Adoption Push

Yahoo! Finance Integrates Bitcoin Core, Ethereum, Litecoin Trading

“You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance,” Mr. Pompliano announced through his popular Twitter account. YF’s embrace of cryptocurrency has many in the ecosystem excited about future prospects for more mainstream adoption. That indeed could be the case, or it might also be a deep wish as fans of digital assets slog through a brutal bear market.

YF is, of course, a subdivision of Yahoo!, one of the original web portals in the net’s early days. YF has been around for over two decades, a go-to source of information about stocks and financials. Bitcoiners of a certain age will remember YF as a first glimpse into the power of net information and aggregation.

Yahoo! Finance Rolls Out Bitcoin, Ethereum, Litecoin Trading

Why Litecoin Ahead of Others?

Nowadays, it is less viewed as innovator, and more as a melange, a giant salad of financial information through news, commentary, financial reports, assorted original content and a staple at conferences, along with the usual facilitation of press releases and housing of data. It is just as likely to be seen as a reliable source of financial reporting.

It was gobbled up last summer by Oath Inc, a subsidiary of Verizon. It now claims to be among the largest business news websites in the US. Hints of the broader company dabbling in crypto actually came a few months earlier, spring of this year, when its Japanese wing asserted it would purchase a healthy amount of crypto trading platform Bitarg Exchange Tokyo with hopes of launching its own exchange in the spring of 2019.

Yahoo! Finance Rolls Out Bitcoin, Ethereum, Litecoin Trading

Though its platform does track other cryptocurrencies such as bitcoin cash (BCH), YF has not made them available for trade to the public as of yet (a curiosity, as both, say, ripple and bitcoin cash outrank litecoin, for example, in market capitalization). YF’s crypto data is derived from Crypto Compare.

Is Yahoo! Finance’s crypto integration important? Let us know in the comments below. 


Images via Pixabay.


We’re celebrating Bitcoin Journalist Pioneer Jamie Redman’s work. Check out Jamie Redman’s author archives. It’s an encyclopedia, a living history of crypto. 

The post Yahoo! Finance Rolls Out Bitcoin Core, Ethereum, Litecoin Trading appeared first on Bitcoin News.

Source: Bitcoin News




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BitMEX Research: Future Success of Bitmain Depends on Skilled Management

A research unit from crypto exchange BitMEX has analyzed recently leaked data on mining giant Bitmain, concluding its management must improve to reach its full potential.

A research unit for crypto exchange BitMEX analyzed recent data on Bitmain which was leaked to Twitter earlier this week. According to the report published on BitMEX blog Thursday, August 30, the Chinese mining giant has “legendary” potential, but future success will depend on skilled management.

Discussing the source of leaked Bitmain financial data — apparently a Twitter account @brian_trollz — BitMEX states that it has “reason to believe the authenticity of these documents.”

According to the research, one of the most interesting discoveries in leaked pre-Initial Public Offering (IPO) documents is that Bitmain’s mining farm business has significantly declined. While mining activities consisted of 18.4 percent of Bitmain’s total revenue in 2016, BitMEX states that, in the first quarter of 2018, the percentage of Bitmain’s revenue from mining was 3.3 percent.

BitMEX notes that Bitmain is highly likely facing visible losses, which may be due to allegedly investing the majority of its operating cash in 2017 in acquiring Bitcoin Cash (BCH). The report estimates potential mark to market losses of $328 million.

BitMEX stressed that, despite rumours surrounding the company’s IPO, Bitmain “is likely to be the largest and most profitable company in the blockchain space, which is likely to make the company attractive to many investors”.

As BitMEX has learned from the leaked data, Bitmain has just conducted a pre-IPO round that allegedly raised approximately $14 billion, leading them to believe that it could raise no less than $20 billion at the IPO stage.

Bitmain still remains one of the largest players on the mining equipment market, the experts continue. It is considered by BitMEX to be the dominant company in ASIC design and mining machine distribution, and also owns BTC.com & Antpool — two of the largest mining pools.

In conclusion, BitMEX expresses cautious optimism on Bitmain’s future prospects:

“Bitmain can be a legendary crypto company, generating strong shareholder returns for decades to come, but in order to achieve this (and it’s a lot harder than it sounds) the Bitmain management team may need to improve their management of company resources. Once the company goes public, capital allocation decisions in this volatile and unpredictable market will be difficult enough, letting emotions impact too many investment decisions may not be tolerated.”

Cointelegraph earlier reported that there had been a lot of rumour,conjecture, and uncertain information around Bitmain’s upcoming IPO. Though DST Global and Japan’s SoftBank were initially listed among possible investors, they have since denied their involvement.

Source: Coin Telegraph




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New Study Provides Bullish Outlook on Bitcoin, Claiming $98,000 Possible

New research by Satis Group predicts that the BTC price could potentially reach $98,000 in the next five years.

According to new research conducted by Initial Coin Offering (ICO) advisory firm Satis Group, the Bitcoin (BTC) price could potentially reach $98,000 in the next five years. The report written by Sherwin Dowlat and Michael Hodapp represents the fourth part of a five-part series covering the crypto space.

The report states that, in terms of upward tendencies in cryptocurrencies over the next five years, BTC will reach reach $96,000, Monero (XMR) will reach $18,000, and Decred (DCR) will hit $535.

Bitcoin Cash (BCH) is forecasted to slump to $268, after it “[attempts] to inherit brand recognition and [provides] minimal technological advantage to incumbents.” Cryptoassets, which have centralized ownership will supposedly represent little value, with a forecasted Ripple (XRP) price of $0.01.

The research team forecasts that the Ethereum “platform network” will lose share from nearly entire to half share in 2028:

“While we do acknowledge the strong community around the ETH network, minor flaws in design and governance (which we believe will result in contention leading up to the future network upgrades, notably the move to Proof-of-Stake (PoS) consensus) can expose the relatively low switching costs of overlying networks built on top of it (the ICO’s, and tokens).”

The latest study also expands on the valuation of cryptoassets needed to support a forecasted economy and provides market condition estimates for the next ten years.

According to the report, the value of cryptoassets needed to support the economy will increase from approximately $500 billion next year to $3.6 trillion by 2028, while 90 percent of cryptoasset value will be extracted from penetration of offshore deposits in the next ten years.

The report says that most fundamental value to support the crypto economy will come from store of value use cases, while the analysts believe that the largest opportunity for cryptoassets will be in store of value markets:

“Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40 percent of the total.  Despite TAM (total addressable market) growth residing in [computing, storage, and lending], the necessary cryptoasset market capitalization needed to support usage of those economies falls once adjusted for higher velocity. As a result, cryptoasset market capitalization growth is primarily from increased store of value use case penetration.”

Earlier this month, research from Sanford C. Bernstein & Co. suggested that revenue generated by cryptocurrency exchanges could more than double to hit $4 billion in 2018, while  ICORating’s ICO market report for the the second quarter of 2018 showed that the  ICO market had more than doubled in a year.

Source: Coin Telegraph




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Report: CBOE to Launch Ethereum Futures Trading Later This Year

The CBOE is reportedly planning to launch ETH futures trading by the end of this year.

CBOE Global Markets, the owner of the Chicago Board Options Exchange (CBOE) and one of the world’s largest exchange holding companies, is looking to launch futures for Ethereum (ETH), Business Insider reported August 30.

Sources familiar with the situation told Business Insider that CBOE Global Markets is planning to launch ETH futures by the end of 2018. CBOE will reportedly base its ETH futures on Gemini’s underlying market; the operator also based its Bitcoin (BTC) futures on the New York-based crypto exchange run by the Winklevoss twins.

The CBOE launched BTC futures trading in December last year. Futures represent an agreement to buy and sell an asset on a specific future date at a specific price, and enable investors to speculate on the BTC price without actually having to own BTC. BTC futures are not just for physical assets, they can be traded on financial assets as well.

A person familiar with the matter told Business Insider that the futures and options exchange is waiting on the Commodities Futures Trading Commission (CFTC) to give the project the go-ahead before its official launch.

Another major U.S. financial regulator, the Securities and Exchange Commission (SEC), said in June that Ethereum was not a security. CBOE Global Markets president Chris Concannon then said, “This announcement clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017.”

Last month, the Chicago Mercantile Exchange (CME) released a report on BTC futures average daily volume, saying that it increased by 93 percent in the second quarter over the first quarter of 2018. The CME also stated that the rate of open interest or the number of open contracts on BTC futures has exceeded 2,400, which amounted to 58 percent increase in Q1.

The CME launched BTC futures trading on December 17, following the launch of BTC futures by the CBOE. Later in July, the CME CEO Terry Duffy said that the company will not introduce futures on cryptocurrencies other than Bitcoin (BTC) in the near future, citing their volatility as the major reason.

Source: Coin Telegraph




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