Here are the most important cryptocurrency news of 28th November 2018:
Switzerland’s ETP Had Great Results So Far
Earlier this month, Bitcoin’s first ETP went live under the $HODL ticker on SIX Exchange – Europe’s 4th biggest traditional stock exchange. Only one week after its launch – and the ETF have the biggest turnover on the exchange so far. The fund introduced by Amun covered 5 important cryptocurrencies :Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.
The Amun ETP which closed on November 26th hit an amazing $425,000 daily turnover, beating several commodity products in crude oil, gold or silver. The high number of trading volume is a sign of interested investors and are possible great news for Bitcoin’ VanEck ETF. Even if the ETF was created for the 4th biggest exchange in Europe, the volume here is pretty low. The SPDR Gold Shares ETF have a daily volume of $987 Millions in US, according to etf.com.
The ETF started with a value of 15.74 and reached a bottom one of 12.40. The price however started increasing after the bottom was touched and the last trade war for 14.21 – a 12.81% increase.For more details about this ETF, you can check’s Amun Crypto Basket Index ETP.
Nasdaq & VanEck Working Together To Create ‘Crypto 2.0’ Futures Contracts
VanEck – an investment management firm & the company that still have their Bitcoin ETF in pending from SEC – announced yesterday a partnership with Nasdaq. The news firstly appeared on Coindesk Consensus: Invest conference – where Gabor Gurbacs, VanEck’s director of digital asset strategy, announced a ‘regulated crypto 2.0 futures-type contracts’.
“What I’d like to point out is we ran a few extra miles working with the [Commodity Futures Trading Commission] to bring about new standards for custody and surveillance,”
Asked a bit more about the futures contracts, Gurbacs declared for CoinDesk that the new ones would be an ”upgrade” of the ones that we have now. More exactly, he plan to use the Nasdaq’s stock market surveillance system called SMARTS and ‘the trusted pricing benchmarks provided by MVIS’.The main reason why he thought this would be necessary is to “inspire confidence with regulators and institutions trying to get involved [in the crypto markets],”
SMARTS is a software with hundreds of detection algorithms especially created for people that like to wash trade or spoofing the market. This would allow another type of Bitcoin Futures to be live and to work ‘ in a fair and orderly fashion’. Gurbacs also predicts that 2019 will be an interesting year for cryptocurrencies, claiming that:
“We believe that 2018 was the year of regulation and 2019 will be the year of implementation.”
Market Recovers Over 10 Billion In Under 24 Hours
As it appears, the war for the BCH supremacy is over and so are the ‘deadly’ drops in price. After one week of Black Friday – Bitcoin finally reached a value above $4,000. Right now, the Bitcoin’s price is $4,343 on Binance and $4,379 on Bitfinex. The lowest rate until now was $3,500 on November 25th. It also decreased even more in price on exchanges with less liquidity.
The Bitcoin volume for the last 24 hours is an amazing $7.2 Billion while the cryptocurrency total market capitalization have a total of $141 Million. At the moment of writing, all the top 10 cryptocurrencies are ‘green’ – except Bitcoin SV. After reaching an amazing $120 per BSV yesterday, the new cryptocurrency created by Craig Wright lost over $20 and is now trading at $95.56.
Stellat Lumens (XLM) also gained 17.48% in price, securing its #5 spot from EOS. Ripple gained a 14% too, and its now half a cent away from $0.4 range. Ethereum gained 16% – more than XRP but not enough to gain the second place. Right now, Ethereum is still behind Ripple (XRP) with a $3.1 Billion difference in market cap between them. Ethereum, currently have a $123.58 price, a 22% increase since its November value.
Today’s Top 100 Best Five Performers
Verge (XVG) had a great bull run today growing from 153 Satoshi to 196 Satoshi at its peak. In USD – the value increased from $0.005738 to $0.008377. This equals to a 24.85% increase in BTC value as well as a 43.38% increase in USD value.
Another privacy coin was the second best performer today – Bitcoin Private (BTCP). BTCP increased with 41.38% in value since 24 hours ago and with 22.46% in BTC value. Surprisingly, the volume today was $270,000 – almost twice the average volume for the last 30 days. This may be a sign that the BTCP being available on Changelly and ChangeHero brought new investors to this privacy focused cryptocurrency.
The 3rd best performing one – Tron (TRX). Tron’s increase from $0.0116 to $0.0156 didn’t came as a surprise, as BitTorrent and uTorrent started accepting TRX, BTC and BNB yesterday. In terms of BTC value, TRX grew from 311 Satoshi to a current trading price of 352 Satoshi. This makes Tron have a 31.50% increase in USD and a 13.70% in BTC. Tron’s price also give signs for a possible bull run. Resistance is expected at the $0.02 point, according to Blokt.
Populous (PPT) is another cryptocurrency that had a great increase today. Over the past 24 hours, the PPT cryptocurrency increased from $1.43 to $1.86 – a 30% increase in value. The volume passed $1 Million per day, as PPT had before November 23rd.
Statis (STRAT) gained 29% in value for today and it’s prepared to gain more. The cryptocurrency that had once a $21.21 value is now sitting at a $0.84 value, preparing to break the $1 range in the following days. Stratis increase in price may also be because of the Stratis Academy launch.
Other Important News
- Petition “Stop Bitcoin from Dumping Lower” to SEC & Federal Reserve Emerges Amid Bitcoin Crashes (Funny)
- Starbucks May Open the Doors for Bitcoin Payments In 2019
- Coinbase Launches an OTC Trading Desk to Cater for Demand from Institutional Clients
- Google Searches for ‘Bitcoin’ Just Hit Their Highest Level Since April
- Ripple Releases xCurrent 4.0, Compatible with xRapid
- US Regulators Tie Two Bitcoin Addresses to Iranian Ransomware Plot
- And We Are Back! Bitcoin Gains 13% To Trade At $4,200, Others Follow
If you’ve missed yesterday’s news, you can read them here: Daily Cryptocurrency News – 27th November 2018
Image Source: 1zoom
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