The Ethereum token BAT has continued its dramatic week-long ascent this Monday, triggered by the positive fundamentals related to its role in Brave’s web browser and ecosystem, as well as the speculation that the cryptocurrency will soon be listed on Coinbase. This is what the daily cryptocurrency news and recent altcoin movements are all about.
For the ones who don’t know it, BAT (short for Basic Attention Token) is an altcoin that increased 14% against the USD on Monday, eclipsing to $0.30 before settling down to its current value of $0.287. The weekly’s return of the token now stands at 56% which gives it the best return among top 50 cryptocurrency assets.
As many analysts reported, this rally may be partially connected to the recent overhaul of Brave’s desktop browser which gives BAT a more central role on the platform and advances the cryptocurrency rewards program into beta.
Currently, BAT ranks just31st in the total market cap with a valuation of $281 million. The remaining three coins all rank in the top 20, while two of them – Cardano (ADA) and Stellar (XLM) – are within the top 10.
The fact that Coinbase recently listed 0x which is an Ethereum token programmed to the ERC-20 standard could have speculators believe that BAT has fewer barriers to getting listed on Coinbase than the other higher-priced coins.
CFTC With A Fine Of $1.1 Million To Crypto Fraudster
"Today's Order stands as yet another in the string of cases showing the CFTC's commitment to actively police the virtual currency markets and protect the public interest," is what is written in the CFTC enforcement document.
Australian Exchange Co-Founder: ‘Stablecoins Are A Game Changer’
“In London, I see a lot of finance people getting into it. People with 10, 20 years of forex experience are trying their hand at it. It’s drawing a lot of people from traditional financial circles, just because it’s interesting, it’s intriguing, there’s a lot of upside to it.”Meanwhile, his exchange CoinJar, will consider the possibility of floating a stable currency, even though the market has a number of players in that circle, according to Tan. As he added in the report:
“There are a few Australian stablecoins already – I think there are three or four out there. I think many of them would be happy for us to utilize them. The question is, how do we try to leverage some of these things to provide a better user experience for our users?”Earlier this year, CoinJar introduced the first cryptocurrency index fund, offering wholesale investors with net assets of more than $2.5 million (AUD) to cryptocurrency while shifting the custody responsibility to CoinJar.
CEO Of Binance Thinks That Market Is Still In A Good Position, Crypto Volume x2 Larger Than Stats
“Compared to January [of 2018], we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we had in January. But, compared to like a year or two years ago, we’re still trading at huge volumes. Business is still okay, we are still profitable, and we are still a very healthy business."Binance is still recording decent volume and maintaining a healthy business - showing an increase in its number of active users and BTC deposits. Zhao continued, stating:
“Right now we are still signing up a steady amount of new users every day so from what we are seeing, it’s very healthy actually. The number of new users and the amount of crypto we hold are increasing very steadily. So if you look our cold wallets, the amount of BTC we hold, we have just seen an increase in people depositing Bitcoin to our exchange.”Meanwhile, the cryptocurrency market cap seems to be getting hold of the over-the-counter (OTC) market where large institutional traders are playing. According to some stats from earlier this year, this market is at least two times larger than the cryptocurrency exchange market. CZ also noted that the OTC market is estimated to be at least as large as the live recorded volumes of exchanges. As such, it is now twice the size of the current volume, having around $23.4 billion (despite the $11.7 billion daily trading volume of crypto) in circulation.
“What I’ve heard is the OTC market is at least as large as the live recorded volumes [on exchanges]. So that is at least 50 percent of volumes that is not being reported on CoinMarketCap. But we’re not heading to that business, so we don’t know the real volumes,” Zhao concluded.
Major Altcoin Rise: Cardano, Stellar And Zcash With Gains Prior To Coinbase Listing
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