Crypto exchange ErisX based in Chicago, filed a letter with the Commodity Futures Trading Commission of the United States that we take a closer look into our crypto news today as a response to the request of the agency for ETH mechanics and market feedback.
The letter was submitted yesterday and focuses on the introduction of a regulated futures contract on Ether and how they will positively impact the growth of the market. ErisX is a traditional futures market reboot and will provide full support for BTC trading, eth and litecoin as well as futures contracts in the second half of 2019.
The CFTC determined that Bitcoin is a commodity rather than security which makes it falls under the Securities and Exchange Commission rules. However, Ether was cleared of the securities classification in June 2018. ErisX pointed out:
‘’The difference between Ethereum and its predecessor saying that ‘’Ethereum built some of the architectural principles of Bitcoin to extend its functionality of a distributed, secured, record-keeping system to include new computational capabilities for the execution of arbitrary code.’’
The analysis from ErisX on the state of the ethereum market shows that there is lack of regulatory clarity that prevents regulated enterprises from entering the sector which will end up in a preponderance of ‘’unregulated or lightly regulated exchanges.’’ ErisX continued:
“Not unique to Ether, but [may be exacerbated by] the current fragmented global market structure of trading platforms and ‘exchanges’ with significantly varying degrees of regulatory oversight and operational transparency and integrity.”
The exchange has appointed three veterans from YouTube, Barclays and the Chicago Board Options Exchange for the executive places in the company and is also expecting from Joseph Lubin of ConsenSys to join the board of directors.
Ethereum Price Closer To $175: Is $182 The Next Milestone For ETH?
- The technical indicators are as following:
- Hourly MACD – The MACD for ETH/USD is pushing higher and gaining a bullish momentum, with a lot of positive signs.
- Hourly RSI – The RSI for ETH/USD surged above the 60 level and it is right now stabilizing near 75.
- Major Support Level is at $168
- Major Resistance Level is at $175
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Tron Has Fastest Growing DApp User Base, But Ethereum Is Still The Developers’ First Choice: Report
“The Ethereum-based games have already created a stable community with a group of loyal audience.”According to the numbers in it, the Q1 of 2019 showed that 504 DApps were added to the DApp.com list, of which more than half were Ethereum-based.
“It shows that Ethereum is still the No.1 choice for developers to build their dapp on. At the same time, we also have seen a trend in multi-chain developing, as many Ethereum dapps expand on multiple chains, such as Ethereum + EOS or Ethereum + Tron," the report sums up.The number of active DApp users on the Tron blockchain reportedly amounted to over 300,000 while on EOS it is around 260,000. The report also showed that by the end of Q1 2019, the number of Tron wallets exceeded $2.3 million and about 15.46% of them interacted with DApps. Around 85% of Tron's DApp users interacted with the apps in Q1 2019 which translates to Tron being the most active chain among the four blockchains. The report also pointed out that 95% of the EOS DApps reported a transaction in the first quarter of the current year as did over 80% of Tron and Steem (STEAM) based decentralized apps. For more of the latest cryptocurrency news, head to our homepage!
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