According to new research by CME Group’s bitcoin futures, the daily bitcoin volume has spiked 93% in the second quarter over the previous quarter. The open interest, on the other hand, posted a 58% increase as the company announced on Twitter.
The average daily volume also rose from 1,854 in the first quarter of 2018 – to 3,577 in the second quarter – and the open interest rose from 1,523 to 2,405 in the same period.
The CME Group’s findings were focused on the CF Bitcoin Reference Rate (BRR) and the CME CF Bitcoin Real-Time Index (BRTI) which are both standardized reference rates and spot price indices. Speaking of which, the indices right now have independent oversight and are meant to accelerate the professionalization of Bitcoin trading.
As CME CF announced, the indices have produced the BRR and BRTI rates since November 2016 with numerous Bitcoin exchanges and trading platforms – mostly from Bitstamp, Kraken, itBit and GDAX – all of which providing pricing data.
The BRR price has risen over the past 4 days, going from $6717.69 on July 17th – to $7361.88. While the BRR rate was $7361.88, the BRTI rate rose to $7398.10.
There are also Ether-dollar indices on CME, which were $460.86 while the Ether dollar real-time index was $462.41 at the time of writing.
Meanwhile, both CME and Chicago Board Options Exchange (CBOE) are the only US-regulated exchanges offering Bitcoin futures products.
Major Altcoin Rise: Cardano, Stellar And Zcash With Gains Prior To Coinbase Listing
The Story Of BAT: How And Why It Lost 28% Overnight Despite Coinbase Listing
“Starting today, Coinbase supports the Basic Attention Token (BAT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store BAT, along with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, ZRX and USDC.”The decline in the price of BAT was abnormal because of the integration. Similar to the case of ZRX and its dump following the listing of Coinbase, analysts think that these integrations demonstrate the typical 'buy the rumor and sell the news' moves by investors in the cryptocurrency market. To sum things up, the price of BAT is very likely to have undergone major pressure as more investors seek to profit from it on short-term events.
The ‘NEO Super’ Fork: A Scam Or A Promising Blockchain?
“Because with a closer look at their LinkedIn pages you can easily tell that they are each fake.”If you see it, the CEO and lead developer of this project John D. Martin has only three connections on LinkedIn despite his alleged seven-year development career. And even though there is no whitepaper for the project, there is a nice looking website and a clone of other NEO wallet services. On top of this, the NEOX whitepaper clearly says:
“A lot of misunderstanding and incorrect representations surround the question of NEO forks. To put it simply, NEO cannot be forked in the same way as Bitcoin or Ethereum — that is, there is no way to split the chain and create a new coin based on NEO.”To sum things up, this project is very confusing to declare it a scam outright - and very unknown and confusing to necessarily recommend. We'll keep a close eye on it in the future and notify you if there were any drastic changes.
Crypto Wipe-out: The Global Crypto Market Lost $6 Billion In The Past 48 Hours
“While many tokens have recorded gains in the range of 5 to 20 percent over the last week, regulatory uncertainty around tokens and their regulatory nature could lead to a decline in the value of tokens in the weeks to come.’’
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