Investment firm Bitcoin Capital hopes that its exchange-traded product will foster mass crypto adoption. The firm’s Bitcoin Capital Active Exchange Traded Product, or BTCA, is traded on the Swiss Stock Exchange. It can discretionarily allocate funds to fifteen different cryptocurrencies and fiat. Daniel Diemers, one of the directors of FICAS, the company that manages the product, told Cointelegraph that these types of products are essential for the mass adoption of Bitcoin: It is easy tradable. We have seen already here in Switzerland that some of the popular online banks like Swissquote, which…
Day: August 26, 2020
The frontrunner in ByBit’s trading competition is up 4000% so far
A trader has managed to secure over 4,000% profit in less than three weeks as part of the World Series of Trading, or WSOT — a competition hosted by leverage crypto trading exchange, Bybit. Using his Twitter name for the competition, SalsaTekila appears on the WSOT troop leaderboard, advancing his team forward with 4,495.95% profit. The trader started the competition trading with just 0.19 Bitcoin (BTC), but has managed to turn that into about 8.76 BTC over the course of the competition. The trader jumped on Tone Vays’ YouTube channel on Aug.…
Indian crypto P2P market size triples despite regulatory uncertainty
Even as fears of another blanket ban on India’s digital asset market linger on, peer-to-peer Bitcoin trading within the Asian powerhouse is still surging, hitting all-time highs over the first week of August. This immense growth was initially spurred by the Supreme Court’s unequivocal decision earlier in March 2020 to repeal an unconstitutional circular imposed by the Reserve Bank of India forbidding local banks and various financial institutions from providing services to crypto exchanges and investors. According to data aggregated by peer-to-peer Bitcoin (BTC) marketplaces Paxful and Localbitcoins, weekly trading…
Russia’s Sberbank and S7 Airlines to sell flight tickets for tokens
Sberbank, the largest state-owned bank in Russia, is working with a major domestic airline company to introduce a blockchain-based ticket sale system. Russia’s largest bank is reportedly collaborating with S7 Airlines on a new ticket sale platform that will enable corporate clients with instant settlement through smart contracts and tokens. According to an Aug. 26 report by local newspaper Kommersant, the new system is planned to roll out in September 2020. This would be the first time virtual tokens are used for payment and settlement in Russia, the report notes.…
What Binance’s choice of integration protocol tells us about DeFi projects
Compound Finance and Kava Labs were chosen as Binance’s two integration partners for the leading cryptocurrency exchange taking its first step into decentralized finance by launching DeFi staking. Time will tell if the benefit of Compound and Kava’s integration will provide value to the crypto community. So far, the indication looks promising, as the new DeFi staking product integration on Binance reached oversubscription in 30 minutes. With Kava launching its testnet soon, thereby allowing for even more than just Binance Coin (BNB) to migrate to its exchange, the bridge to…
Even After 350% Jump from March, Ethereum Still Faces a Key Resistance
Ethereum crashed as low as ~$85 during March’s capitulation drawdown, crushing the hopes of investors in the asset. But due to a recovery in the price of Bitcoin and in most global markets, ETH has surged higher. From those lows, the asset is now up by around 350%, recovering to $385 as of this article’s writing. At the local highs, Ethereum traded for $440, with bulls managing to wrest the asset much higher than it was before. With this recent move, ETH’s macro bear market structure was broken. Ethereum has…