2336 cryptocurrencies
Total Market Cap $5,295,884,529,161,235
Total Volume 24h $396,740,588

Ripple Ripple star

$0.30
0.0015 (0.50%)

Ripple positions itself as a complement to, rather than a competitor with, Bitcoin - the site has a page dedicated to Ripple for bitcoiners. Ripple is a distributed network which means transactions occur immediately across the network - and as it is peer to peer - the network is resilient to systemic risk. Ripples aren't mined - unlike bitcoin and its peers - but each transaction destroys a small amount of XRP which adds a deflationary measure into the system. There are 100 billion XRP at present.

news

Wall Street Breakfast: What Moved Markets This Week

Jul 21st, 2018

Investor concerns over a new round of tariffs were counterbalanced at the end of the week by some strong earnings reports from Microsoft, Honeywell and Capital One. Stocks were flat for the week, as the Dow ended +0.2% but the S&P and Nasdaq finished virtually unchanged. The 10-year yield ended the week at 2.90% and the two-year yield finished up at 2.60%. Some analysts saw the increased 2-10 spread as a sign that investors believe President Trump's criticism of the Fed could slow down the pace of rate hikes. Economy Monday: President Trump sat down with Russian counterpart Vladimir Putin in Helsinki. Crimea, Syria and election meddling were likely on the summit's agenda, but no aide or official from the U.S. delegation were present during the meeting's initial stages. A controversial press conference ensued, coming on the tails of a tense NATO summit during which Trump lambasted allies for not meeting their defense spending commitments. Tuesday: The spotlight fell on Jerome Powell as he delivered his semi-annual monetary policy testimony on Capitol Hill. The Fed Chair stuck to an upbeat assessment on the U.S. economy while downplaying the impact of global trade risks on upcoming rate rises. The bullish outlook buoyed the dollar and put a squeeze on gold, which fell to $1,222/ounce - its lowest level in a year. Wednesday: Less than 24 hours after accepting four hostile amendments to her customs bill, Theresa May maintained her fragile grip over the Brexit process. She narrowly survived an attempt by pro-European Conservative MPs to keep Britain in the EU customs union, meaning the U.K. will develop its own trade policy after Brexit. Declaring themselves the "flag bearers of free trade," Japan and the EU also signed the world's largest bilateral trade pact covering about a third of global GDP. Thursday: Plunging drilling costs have sparked an explosion of production in Texas, and is making the state a global oil superpower. According to HSBC, The Permian Basin and Eagle Ford oilfields are expected to produce 5.6M barrels per day by 2019, topping the 4.8M bpd output of Iraq and 3M bpd of Iran. That would make Texas the world's No. 3 oil producer, behind only Russia and Saudi Arabia. Friday: President Trump is willing to up the ante in the trade war with Beijing and could slap tariffs on every Chinese good imported to the U.S. "I'm ready to go to 500," he told CNBC, referencing the $505.5B of American imports from China in 2017, compared to the $129.9B the U.S. exported to the country last year. Meanwhile, the Chinese yuan slid overnight to its lowest in more than a year, stoking worries Beijing's currency management could be the next flash point in a trade dispute with the U.S. Stocks Monday: The week started with the most important aviation trade show of the year, attracting about 100,000 trade visitors from 100 countries. Alternating every year with the Paris Air Show in France, the Farnborough International Air Show runs until July 22. In 2016, the last time Farnborough played host, more than $124B in sales and commitments were placed at the exhibition. Tuesday: Crypto bounce... Bitcoin (BTC-USD) traded above $7,500 for the first time in a month, while rivals including Ripple (XRP-USD), Ether (ETH-USD) and Litecoin (LTC-USD) also advanced. Despite shrugging off some security and regulatory concerns that have plagued digital currencies for much of this year, Bitcoin still remains more than 60% below its all-time high from last December. Wednesday: Amazon reached a $900B market value for the first time, nipping at Apple's (NASDAQ:AAPL) heels as Wall Street's most valuable. The news comes after the company announced it sold more than $100M in products during its annual Prime Day sale. Shares are up over 57% so far this year, bringing Amazon's (NASDAQ:AMZN) increase to over 123,000% since it listed on the Nasdaq in 1997. Thursday: Comcast has surrendered to Disney (NYSE:DIS) in a bidding war over Fox's (NASDAQ:FOX) film and cable assets, but managed to push up its rival's acquisition expenses by nearly $20B, a play that could constrain Disney's ammunition in future dealmaking. Comcast (NASDAQ:CMCSA) will now try to clinch a £26B acquisition of Sky (OTCQX:SKYAY) - in which Fox already owns a 39% stake - as the media industry undergoes a massive reshaping. Friday: Adding to similar moves by Pfizer (NYSE:PFE) and Novartis (NYSE:NVS), Merck (NYSE:MRK) is the latest drugmaker to nod to public pressure on rising costs. It cut the price of hepatitis C treatment Zepatier by 60%, and a number of other medicines by 10%. The price change also included a commitment not to increase the average net price across Merck's product portfolio by more than the inflation rate, but that pledge still leaves room for higher increases on individual drugs.


The Big Challenge Facing BlockChain Adoption in the Finance Sector

Jul 12th, 2018

By David Drake The status of services in the banking sector is characterized by time lags and high transaction costs. For these reasons, blockchain has been hailed as a revolutionary technology due to its ability to reduce transaction costs and increase the effectiveness of cross-border transactions. But big banks are now beginning to question the ability of blockchain to solve these problems and whether the technology has matured enough to warrant large-scale application. Big banks such as Russia's Central Bank, the Bank of Canada and the Central Bank of the Netherlands are among leaders in the banking industry that have raised these concerns. Their concerns come soon after Western Union's CEO claimed that the cost of payments had not reduced after six months of testing the Ripple XRP. Looming Competition But cryptocurrency players seem to view the situation differently and are critical of these negative commentaries. Alex Karasulu, CTO and founder of OptDyn, feels that Western Union transfer service is threatened by blockchain because it is a competing technology. He says: "At first glance, negative announcements bring out the devil's advocate in all of us. However, further consideration of the sources produces opposite effects. The Ripple comment comes from the CEO of an established funds transfer service. Western Union competes directly against Ripple and the blockchain ecosystem as a whole which strives to remove intermediaries like them. Western Union's business is severely threatened by blockchain technology and their negative commentary is expected. This bolsters Ripple's offering more than it detracts it" Agreeing to this position, Juan Imaz, the founder of Profede, says: "Banks will always criticize blockchain and cryptocurrency because they are the 'people's currency' that can't be controlled by them. Banks react with suspicion towards these projects and are nervous because cryptocurrencies can take control away from banks. But banks should embrace the technology behind these game changing projects, blockchain technology, because the benefits outweigh the disadvantages." Beyond finance, blockchain is set to offer numerous benefits as demonstrated by startups such as URAllowance, SportsFix and AnthemGold. These benefits include "proof of work, process, collateral, and delivery" according to Reginald Ringgold, the founder of BlockVest DEX. Imaz further adds that: "With blockchain, cryptography replaces third-party intermediaries as the keeper of trust, with all blockchain participants running complex algorithms to certify the integrity of the whole network. In the best case, blockchains and other digital platforms should do for the global value chain what shipping containers did for the physical transportation of goods." Long Way to Maturity After the G20 meeting earlier this year, finance ministers from leading economies highlighted the potential that blockchain technology has to in promoting financial inclusion within the financial sector. Pronouncements such as those made by central banks of Russia, Canada and Netherlands could affect mainstream adoption of blockchain technology in the banking sector. Jerry Floros, CEO and founder of MoneyDrome Edge Ltd, feels there is a strong need to first overcome price stability, speed and scalability challenges before mass adoption and wide-scale application of blockchain technology can happen: "Cryptocurrencies and blockchain are still long ways from maturity and mass adoption. Cryptos face issues such as price stability and regulation whereas blockchain must overcome speed and scalability challenges. As these new technologies are developing at an accelerating speed, it is only a matter of time before cryptos and the underlying blockchain technology improve to the point of mass adoption and wide-scale application." Bank52 CEO and co-founder, Thomas Labenbacher holds that blockchain will continue to grow and issues that are hindering its scalability will be addressed. He says, "All technology is incremental and blockchain is no different. I'm sure that over time there will be improvements and changes, which include addressing the scaling and speed issues. Blockchain is important to B52, but only in certain aspects of transacting - the entire offering doesn't rest solely on the blockchain." Labenbacher was co-founder of the Fidor Bank Group entities, is Partner in Life.SREDA Venture Capital Blockchain Fund, and former Retail Director of Western Union Bank. He is a believer in digitization and is a revolutionary in transforming traditional banking into digital/crypto banking. Thomas has been named a Top 30 Fintech Influencer. Disclaimer: David Drake is on the advisory board for most of the firms mentioned or quoted in this article. ================================================


FX Settlement Provider CLS Begins Final Testing for Blockchain Payment Banking Service

Jul 29th, 2018

FX markets settlement provider CLS is expected to launch its blockchain-powered payment service for banks later this summer. Forex exchange (FX) settlement giant CLS is in the final stages of testing its blockchain payment service for banks, Financial News reported July 27. The service is reportedly set to be launched later this summer, with at least seven banks expected to sign on to the system in the early months. CLS, the New York-based global multi-currency cash settlement system, has been working with tech company IBM to introduce the blockchain-powered payment netting service. The system is set to be incorporated in banking IT systems to boost the level of standardization in the global FX markets, as well as reduce costs of the process. At the moment, the FX markets are reportedly lacking standardization as forex institutions are forced to complete the process manually, which often causes scattered approaches to netting and leads to higher costs, the Financial Times notes. CLS is planning to offer its members two options to connect to the CLSNet service, providing a direct, as well as an intermediary, connection via the SWIFT financial messaging provider. However, a CLS spokesperson clarified that clients would rely on the SWIFT provider in the first stages, while direct node hosting will be offered as "the service continues to grow with functionality and client adoption, and the DLT [distributed ledger technology] matures." While around seven banks are ready to test the upcoming service, they are reportedly just half of those that backed the project originally. CLS chief strategy and development officer Alan Marquard revealed that some of their big banking members are cautious to connect directly to the blockchain since the technology is still not tested enough for settlement and safekeeping of securities. Marquard explained that banking institutions cannot "just install a piece of software," as they first need to "build operational knowledge and know-how" to ensure their databases have adequate privacy protection. CLS Group, originally Continuous Linked Settlement, is a U.S. FX settlement service supplier with such high-profile members as Goldman Sachs, JPMorgan, Barclays, and Citigroup. In late May, the company invested $5 million in blockchain consortium R3 in order to collaborate with leading blockchain experts. SWIFT, with 45 years of experience in providing financial institutions with transactions information, has recently reported that its blockchain pilot for bank-to-bank transfers went "extremely well," having first announced the Hyperledger-based project for a cross-border payments market back in 2017. Earlier in June, Ripple (XRP) chief cryptographer David Schwartz claimed that banks are unlikely to deploy blockchain to process international payments, citing low scalability and privacy problems.


What's Next for Bitcoin?

Jul 9th, 2018

(Bloomberg) -- Last year, Bitcoin led a motley pack of so-called cryptocurrencies in one of the great booms in market history, soaring over 2,000 percent to its peak. Since then, it's led an epic bust that rivals the dot-com era stock market collapse. But there are still plenty of true believers. And as the dust settles, investors and regulators find themselves still grappling with questions first raised when Bitcoin broke into public consciousness five years ago: What exactly is it? How do imitators like Ethereum, Ripple's XRP and Bitcoin Cash work? Should I buy it? Where do cryptocurrencies fit into the future of money? Here's a guide for those feeling at sea in these turbulent digital waters.


Coinbase Custody Considers Addition of 37 New Assets Including XRP, EOS and XMR

Aug 3rd, 2018

San Francisco-based exchange and wallet service Coinbase announced today, Aug. 3 that it is exploring the addition of 40 new assets to its custodial service, Coinbase Custody. The blog post stresses that the crypto assets may be added "for storage only," and that Coinbase will add them "as quickly and safely as possible." Coinbase states that they are not currently considering the assets for trading. According to the post: "We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets." Among the new assets being considered for storage are Ripple (XRP), EOS, Monero (XMR), VeChain (VEN), Cardano (ADA), Bitcoin Gold (BTG), and Telegram. Coinbase noted that the addition of an asset to Coinbase Custody is not indicative of whether it will be added to other Coinbase products. It also states that assets under consideration for trading must pass the GDAX Digital Asset Framework. The exchange states that customers may see public-facing APIs and other indicators that Coinbase is in the process of adding support for new digital assets. Coinbase "...cannot commit to when or whether these assets will become available on Coinbase Custody, we will provide updates to our customers about the process and what they can expect..." Coinbase Custody launched on July 2 of this year, aiming to address the "number one" concern of institutional investors, namely, security. The new service purportedly utilizes a range of security measures including "on-chain segregation of crypto assets," "offline, multi-sig and geographically distributed transaction protection" and "robust cold storage auditing and reporting." The company also plans to add "secure, segregated hot wallets." The recently launched custodial service is also secured through an SEC-compliant and FINRA-member independent broker-dealer, Electronic Transaction Clearing(ETC).


New Ripple-Based Decentralized Exchange Launches in San Francisco

Jul 31st, 2018

A new Ripple (XRP)-based decentralized crypto marketplace, DCEX, has now opened registration for retail and institutional accounts, according to a press release published July 30. The new San Francisco-based platform runs on technology developed by blockchain firm AlphaPoint, and will initially offer 15 crypto-crypto trading pairs, all against Ripple as a base currency. These include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS (EOS), IOTA (MIOTA), and ZCash (ZEC), among others, with further altcoins to be listed in the future. DCEX will also reportedly make all of the assets included in the Bloomberg Galaxy Crypto Index (BGCI) -- which tracks the top ten "most liquid" crypto assets and presents itself as an "institutional benchmark" for the crypto market -- available in one location for investors. According to the press release, DCEX believes that using XRP as a base currency will allow for "high-speed transfers" that can help investors to better take advantage of "price inefficiencies" in their arbitrage among currency pairs on different exchanges. The marketplace claims in the release that its network will facilitate "up to one million transactions per second," and will also enable participants to connect to APIs to facilitate "high frequency" crypto trading strategies, as well as to margin trade. DCEX, reportedly registered with FINCEN, is taking "initial steps" towards becoming a fully compliant and regulated operator under the U.S. Securities and Exchange Commission (SEC) and other regulatory agencies, the press release notes. As a Cointelegraph analysis outlined this spring, decentralized exchanges (DEXs) are gaining traction in the cryptosphere, both on ideological grounds and due to perceptions that centralized platforms are more vulnerable to thefts, such as the industry record-breaking hack of $532 mln in NEM from Coincheck earlier this year.


UK Remittance Service TransferGo Adds Crypto Trading in 'World First'

Jul 28th, 2018

TransferGo claims to be first remittance service to launch cryptocurrency trading. UK-based service TransferGo has reportedly become the world's first remittance operator to offer crypto trading, Bloomberg reported July 27. TransferGo now lets customers buy and sell five major cryptocurrencies -- Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). According to TransferGo CEO and founder Daumantas Dvilinskas, the crypto trading option was launched "in response to demand from our user base": "With over 4,000 users signing up in the first few hours we can see there is a strong demand in the market for a simple and reliable investment and trading solution." Founded in 2012, TransferGo currently has "over 600,000" registered users and is partnered with thirty banks. A remittance is the transfer of money from a foreign worker to another individual across international borders. In 2017, global remittance flows to developing countries reached a massive $466 billion. Earlier this week, the CEO of payment giant Mastercard Ajaypal Banga smashed decentralized cryptocurrencies -- as opposed to state-issued calling them "junk." Banga accused cryptocurrencies of "wild" volatility, claiming they do not "deserve" to be considered a medium of exchange. Previously in June, Qiwi Blockchain Teсhnologies (QBT), a subsidiary of major Russian fiat payment service provider Qiwi, reportedly launched a crypto investment bank built on a "classic investment banking model." According to the firm's CFO, the upcoming HASH platform will start offering crypto trading services in 2019, after the company obtains necessary licensing.


Bitcoin Dips Below $7,500 аs Crypto Markets See Second Day of Losses

Aug 1st, 2018

August 1: Crypto assets have seen a second day of losses, with Bitcoin (BTC) now well below the $8,000 psychological price point and most of the major crypto assets in the red, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,490 to press time, having lost almost 3 percent on the day. Since the coin's July 25 peak at $8,431, the leading cryptocurrency dipped down below $8,000 yesterday for the third time this week. The coin saw another sharp drop this morning, before trading sideways. Bitcoin's 7-day price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin's weekly price performance is now down by around 9.3 percent, but monthly growth remains a solid 17.74 percent. Ethereum (ETH) has seen heftier losses on the day, down a solid 5 percent to trade around $411 at press time. The leading altcoin lost around $19 in value during early trading hours, traded sideways around $425, and then dropped to see an intra-day low of $410 an hour before press time. Ethereum's weekly price performance is around 13.61 percent in the negative, having seen a more gradual but sustained downward trend than Bitcoin over the same time frame. Ethereum's monthly losses are almost 11 percent. Ethereum's 7-day price chart. Source: Cointelegraph Ethereum Price Index On CoinMarketCap's listings, most of the top 10 coins by market cap are down between 1 and 5 percent on the day. Ripple (XRP) is the only outlier, up 1.6 percent and seeing a spike in price earlier today, despite trading downwards most of the week. The coin is currently trading at $0.44 to press time. The asset's relatively strong performance has perhaps been buoyed by yesterday's news that the 42nd President of the United States Bill Clinton will be the keynote speaker to kick off Ripple's global payments tech conference, Swell, this fall. Ripple's 7-day price chart. Source: CoinMarketCap After Ethereum, Litecoin (LTC) and EOS (EOS) have seen the most losses of the top ten coins, both down 3.45 percent on the day to press time. Among the top twenty coins by market cap, Dash and Monero (XMR) are trading the most stably, both currently up less than 1 percent. Total market capitalization of all cryptocurrencies has inched yet further downwards on the day, at $268.4 bln to press time -- $8 bln lost over the 24-hour period. 1-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap While the markets have seen their second, faltering day of continued losses, recent news indicates that the distance between the crypto industry and major institutional players continues to narrow. Yesterday, Northern Trust Corp., a global asset management firm with $954 billion in total assets under management, revealed its plans to start a custody service for digital assets. Meanwhile, news of Morgan Stanley's recruitment of a self-described crypto trading expert and 12-year veteran of Credit Suisse as its new head of digital asset markets suggests that the trend of figures leaving the traditional financial sector for crypto continues. A major new report from the U.S. Treasury Department published yesterday revealed a strong concern that the U.S. keep pace with innovation and tailor its regulations to accommodate disruptive financial technologies, including cryptocurrencies and blockchain. Skeptics remain, however, with Nobel Prize winning economist Paul Krugman suggesting in a New York Times Opinion piece yesterday that "total collapse" for "un-tethered" crypto-assets "is a real possibility."


Crypto Market Slightly Struggles After Mini Bull Run, Ripple Down 5%

Jul 20th, 2018

Subsequent to demonstrating a mini-rally on July 18, the crypto market has declined by $12 billion, triggered by a large drop in the value of tokens. Since Wednesday, bitcoin, the most dominant cryptocurrency in the market, has performed relatively well against the US dollar. Its volume, which remained below $3.5 billion last week, has rebounded to $5.2 billion, and tripled on the global market's largest crypto exchange Binance. As of July 20, the price of bitcoin remains above the $7,470 mark, down less than 1.5 percent from its weekly high at $7,570. But, other major digital assets such as Bitcoin Cash (BCH), Ripple (XRP), Ether (ETH) and Cardano (ADA) have performed poorly against both bitcoin and the US dollar, dropping by over 5 percent in the past 24 hours. Ripple, in particular, has struggled to sustain any momentum from its slight increase in value on July 18, while others have managed to at least hold their support levels. Since July 19, the price of XRP has been in free fall, dropping from $0.52 to $0.46, by more than 11.5 percent. After recording a large sell-off on major exchanges less than 48 hours ago, XRP has not been able to demonstrate signs of recovery in the short-term. The short-term trend of XRP will likely remain negative in the upcoming days, as the sell-off on July 19 was not sufficient to reverse the Relative Strength Index (RSI) of XRP and create an oversold condition for the Ripple exchange market. The Average Directional Index and various momentum indicators show that the downtrend of XRP is simply too strong at the moment to initiate any sort of corrective rally by the end of this week. Some investors have said that the slight decline in the price of bitcoin and the valuation of the crypto market was expected, given the sudden surge in the price of bitcoin on Wednesday, which saw a 10 percent rise within a 30-minute window. In early April, when the price of bitcoin surged by over 10 percent from $6,900 to $8,000, its rally continued to the $10,000 resistance level, which it failed to surpass and ultimately fell below the $6,000 mark two months after. In a sideways market, especially when the price of bitcoin remains stable, tokens tend to perform exceedingly well against major digital assets. However, even tokens such as 0x (ZRX) and Aelf (ELF), which have demonstrated strong momentum throughout July, have recorded 10 percent losses over the past 24 hours. ELF, in particular, saw a 10 percent fall from 0.00011 BTC to 0.000092 BTC, after reaching a weekly high at 0.000127 on July 5. One positive takeaway from the performance of the crypto exchange market this week is its strong volume that has rebounded well since last week, and if the volume of the market can be sustained, a movement to the upside can be expected by the end of the week.


Bloomberg: Billionaire Steven Cohen Backs Crypto, Blockchain Hedge Fund

Jul 13th, 2018

Billionaire Steven Cohen has invested in Arianna Simpson's crypto and blockchain hedge fund, Bloomberg reports. Billionaire Steven Cohen, the founder of Point72 Asset Management, is reportedly backing a crypto and blockchain-focused hedge fund, Bloomberg reports Friday, July 13. Cohen invested in Arianna Simpson's cryptocurrency hedge fund, Autonomous Partners, via his private equity firm Cohen Private Ventures, according to Bloomberg's anonymous source. Point72 Asset Management, whose most recent portfolio value is almost $24 billion, is headed by Andrew B. Cohen, who is also the Managing Director of Cohen Private Ventures. Simpson founded Autonomous Partners in December 2017. In an interview with Fortune on July 12, she said that the fund has already secured "funding in the low eight digits" from VC and private equity firm Union Square Ventures, Coinbase CEO Brian Armstrong, and former PayPal COO and Craft Ventures co-founder David Sacks. Simpson emphasized that the fund seeks investments from partners that "can be very much value-add beyond their capital." As Fortune reports, a low percentage of Autonomous Partners is devoted to major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The fund is mostly focused on crypto infrastructure projects, anonymity-oriented altcoins, and crypto companies that tackle scalability issues. The fund has also invested in OX, a protocol for decentralized crypto exchanges. Simpson told Fortune that her fund has held off from investing in Ripple (XRP) pending clarification from U.S. regulators as to whether XRP will be classified as a security. She added that she "think[s] the whole space is still waiting for a bit more clarity." According to data from Autonomous Research, the number of crypto-focused funds was estimated at 251 as of April 2018, 175 of which were opened in 2017. In 2018, only 26 more funds have been established, signalling a possible downtrend in momentum. As Cointelegraph reported April 3, various sources from the crypto space have warned that 10 percent of crypto funds could potentially be forced to close in 2018, allegedly due to the negative impact of regulatory uncertainty. In March, news of a U.S. Securities and Exchange Commission (SEC) probe into up to 100 crypto-related hedge funds indicated increasing scrutiny of their activities.


Bear Market's Little Helpers? A Guide to Crypto Futures

Jul 12th, 2018

Half a year after the launch of Bitcoin futures, crypto derivatives seem prepared for the second round of expansion. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. Since their triumphant advent in the wake of the December 2017 bull run, Bitcoin futures seem to have occupied an oddly fixed position in the minds of many cryptocurrency buffs. A popular view among those who follow the dynamics of the crypto world rests on a set of established points about BTC futures: they exist since late 2017; they are offered by Cboe and CME, two respectable regulated exchanges; they help manage investment risks and as such are supposed to draw institutional money into the crypto space, mitigating price volatility and lending credence to the underlying asset. The recent weeks, however, saw a shift in this previously serene mental landscape, as new considerations about crypto futures began to pour into media space with increased frequency. From allegations of massively suppressing crypto prices to a widening range of platforms offering crypto derivatives to a real prospect of Ethereum futures coming about soon, these developments point to the need of revisiting the realm of cryptocurrency-based futures. Now that these derivatives have been around for more than half a year, a more nuanced picture of this asset class' role in crypto finance is emerging. The origins In the simplest terms, a futures contract (or a future) is an agreement to buy or sell a certain product on a fixed date. Futures are used as both an instrument for mitigating risks associated with price volatility of vital commodities, and as a tradable derivative product. A comprehensive Cointelegraph primer timed to the launch of the first regulated BTC futures last December is still there for anyone in need to recapitulate the essentials. There were many reasons for the crypto community to eagerly anticipate Bitcoin futures' introduction to regulated derivatives markets. Futures have long been seen as the first stepping stone on the path to reconciling the world of crypto finance with the system of traditional financial institutions. Existing within a well-defined legal and operational framework, futures contracts offer legitimacy and security that judicious Wall Street firms were waiting for in order to finally jump onto the crypto bandwagon. Some of the collateral perks included increased liquidity of the market and transparent reference prices - in other words, more legitimacy and stability. At the same time, crypto futures held a promise for an alleged horde of retail investors who were interested in crypto assets yet wary of trading them on unregulated spot exchanges. Perhaps the biggest advantage of Bitcoin futures for this category of traders is security: since owning a cash-settled crypto future does not entail touching a coin itself, the scheme does away with fears of hacking and theft of cryptoassets. However, a flipside of not owning an actual coin is that futures traders would not be eligible for free coins in an event of a fork. As the Chicago Board Options Exchange launched cash-settled Bitcoin futures trading on December 11, and their rivals Chicago Mercantile Exchange followed suit six day later, prices of both BTC derivatives and the coin itself surged amid an unprecedented wave of publicity. Each Cboe contract was for one Bitcoin, while each CME futures represented five. Both enabled traders to take either long (agreement to buy) or short (agreement to sell) positions, meaning that investors could bet on both increase and decline of Bitcoin price. Cboe capitalized on their partnership with Gemini, a cryptocurrency exchange ran by the Winklevoss brothers, and used their experience with tracking crypto assets' prices to create a tool called Cboe Gemini Bitcoin Futures Index. CME Group created its own price tracking instruments, CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index, in cooperation with a UK-based firm Crypto Facilities, which has a vast experience with cryptocurrency derivatives. Playing into bears' hands? Despite the tremendous hype, it turned out quite soon that the volume of Bitcoin futures trading is not as impressive as the some enthusiasts could expect, eliciting the first wave of pointed criticisms. The fact that after the initial spike Bitcoin prices went steeply downhill in January did not help the derivatives market's growth, either. Mati Greenspan, Senior Market Analyst with a social trading and multi asset brokerage firm eToro finds this dynamic unsurprising: "The Bitcoin futures have indeed opened up the markets to new investors who wouldn't otherwise be involved. However, the volumes so far have been rather tepid, which isn't much of a surprise. Bitcoin's price has been falling steadily this year and as long as the direction is down, there's little incentive to jump in." While it is enticing to attribute the underwhelming trading volumes to the decline in the underlying assets' valuation, some observers point out that the two are actually tied in a kind of an egg-and-chicken cycle, mutually influencing each other. As early as in January, when a multitude of versions explaining the crash of Bitcoin price began to emerge in media space, one of the less-visible yet sound considerations was that futures trading had opened the crypto markets to bear investors. A curious pattern showcasing retail and institutional investors' diverging strategies with regard to futures trading could serve as indirect evidence to such claims. As a January Wall Street Journal study had uncovered, 'little guys' were the ones who were more likely to wager on the rise of BTC prices, while institutional players tended to short. At the time, however, these concerns seemed to have faded from the mainstream media's radars. It wasn't until May that they resurfaced full-blown following the publication of the San Francisco Federal Reserve Bank's letter suggesting that the advent of Bitcoin futures and the coin's price decline did not 'appear to be a coincidence.' The Fed analysists explained that the rise of crypto futures for the first time gave the 'pessimists' a tool to counteract the 'optimists' who had previously fueled the growth unimpeded. Another attestation in a similar vein has been Fundstrat's Thomas Lee's attribution of falling Bitcoin prices to Cboe futures' expiration that made rounds in mid-June. Yet the issue seems to be far from settled towards either of the two poles: those voices who blame Bitcoin futures for declining crypto prices encounter equally robust arguments from the other side. "I've done the math recently and it doesn't seem to add up," - says Mati Greenspan, maintaining that the size of the futures market is simply not sufficient to thrust the whole crypto ecosystem into an extended bear cycle. Rohit Kulkarni, Managing Director and Head of Research for investment platform SharesPost, acknowledges some influence that 'pessimistic speculators' have exerted, but attributes the bulk of the blame to the regulatory turbulence of the first half of 2018: "The subsequent [to December 2017] bitcoin price declines were not caused by the introduction of these futures, but rather the regulatory uncertainty surrounding the cryptocurrency market. In addition, we believe irrational speculation by pessimistic investors has also contributed to the price movement over the past six months. As such, we see the ongoing crypto bear market as clearly cleansing the ecosystem from short-term oriented speculators, which will be good for the crypto ecosystem long-term." Further adoption Over the last half a year, Cboe and CME were not the only entities to have a dig at crypto futures, and Bitcoin was not the only asset underlying these contracts. Since March, UK-based financial institutions were responsible for a steady supply of breaking news in this domain. In March, a British cryptocurrency exchange operator Coinfloor made headlines by announcing the launch of the first physically settled Bitcoin-based futures product. Also in March, it suddenly emerged that the abovementioned startup Crypto Facilities has been offering futures contracts tied to Ripple's XRP token since October 2016, without much publicity, for some reason. On May 11, Crypto Facilities exploded another bombshell in the crypto space, revealing ETH/USD futures as their latest offering. And to crown it all, in June the same company unveiled the first regulated Litecoin futures. Due to regulatory hurdles, staggering cavalry charges like these would hardly be possible across the Atlantic. Some of the established players in the US, who seem to be in a position to join the crypto derivatives race, remain undecided. Yet this is not to say that the US companies halted their efforts to facilitate crypto-based derivatives trading. During the first week of May, the New York Times reported that both Goldman Sachs and the New York Stock Exchange were briskly moving ahead with their plans to launch crypto trading platforms and products. A few weeks later, a Pennsylvania-based Susquehanna International Group listed Bitcoin futures among their financial products. The Ides of June saw a regulatory breakthrough that might prove highly consequential for crypto futures in the US, as the SEC Corporation Finance Director William Hinman had shed some light on Ethereum's status as perceived by the regulator, suggesting that 'current offers and sales of ether are not securities transactions.' This statement has energized the industry and prompted Chris Concannon, Cboe's crypto-savvy president, to speak of futures on ETH as of a settled deal. If Cboe breaks the path with such a product, it's not difficult to imagine CME catching up quickly, given the firm's partnership with Crypto Facilities, whose Ethereum derivatives infrastructure is already in place. Evidently, despite all the challenges, cryptocurrency-based futures have to a significant extent succeeded in facilitating institutional capital's entry into the cryptofinancial ecosystem. Most experts are positive with regard to further development of this trend, envisioning crypto assets as a legitimate element of the financial system. "As we approach the anniversary of futures trading, we expect more institutional investors to make big moves with crypto dedicated funds. One recent example of this was the recent announcement of A16Z, a $300 million crypto fund launched by Andreessen Horowitz dedicated to investing in cryptocurrencies and other blockchain-related projects," - notes Kulkarni. Shane Brett, Co-founder and CEO of blockchain solutions provider GECKO Governance, appears to be on the same page: "The emergence of cryptocurrency futures is a definite sign of increased mainstream adoption on the horizon, as it serves to speed up the legitimation and maturation of the market." Speaking of the 'little guy' retail investor, the direct benefits of the introduction of crypto futures have likely been more modest so far. "There really isn't much benefit for Main Street investors to use the Wall Street futures. They can just as easily buy bitcoin directly. As well, the minimum contract size on the futures could be a barrier to entry. The contracts of the CME are set at blocks of 5 BTC each, which is more than most retail customers are used to dealing with. Even the CBOE contracts that are set at 1 BTC each are difficult to deal with for most people," - concludes eToro's Mati Greenspan.


Bitcoin Holds the Week's Major Gains as Other Altcoins Struggle

Jul 20th, 2018

July 20: Bitcoin (BTC) has split off from other top cryptocurrencies and shows markedly more resilience in holding on to gains secured in the major upswing that kicked off earlier this week. Market visualization from Coin360 As Coin360 data shows, the top coin is an island of green, while most major alts are struggling to maintain positive momentum. Bitcoin (BTC) is trading around $7,398, up a fraction of a percent over the 24 hour period to press time. The leading cryptocurrency has been trading sideways as of early trading hours July 18, following an impressive uptick on July 16 that accelerated yet further July 17. Bitcoin's weekly and monthly gains are in positive territory, at about half a percent and 20 percent respectively, according to CoinMarketCap data. Reflecting on Bitcoin's strong rally this week, Arthur Hayes, CEO of crypto exchange BitMEX, said today that the current bull run may yet give way to test a price point of $5,000 before heading to $50,000 in 2018. Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH)'s price performance has been less buoyant, with the top altcoin trading around $453 to press time, down 2.6 percent on the day. After soaring as high as $510 on July 18, the asset began to see a jagged decline. While recent growth has secured a positive weekly percentage gain of around 5 percent, Ethereum's monthly performance is a little more than 3 percent in the negative, according to CoinMarketCap data. High point in Ethereum's 7-day price chart. Source: Cointelegraph Ethereum Price Index On CoinMarketCap's listings, all of the top 10 coins by market cap -- save Bitcoin and stablecoin Tether (USDT) -- are seeing losses of between 2 and 5 percent over the 24 hour period to press time. Ripple (XRP) has dropped roughly 4 percent on the day, trading at $0.46 to press time, according to CoinMarketCap. Cardano (ADA) has lost around 4 percent and is trading around $0.17 over the past 24 hours to press time. Of the top 20 ranked coins on CoinMarketCap, Dash (DASH) has seen a solid 5 percent growth over a 24 hour period, trading just above $274 to press time. The alt skyrocketed $20 within an hour earlier today to reach $282, before dropping slightly to its current valuation. Dash 24-hour chart. Source: CoinMarketCap Total market capitalization of all cryptocurrencies is now at around $283 billion to press time, down from its intra-weekly high of about $299 billion. Weekly high in the total market capitalization of all cryptocurrencies from CoinMarketCap The past day has seen the news that four of the top forty spots on Fortune's annual rankings for the most powerful young disruptors in global business have been given to five innovators from the crypto space, over twice as many as last year. As crypto gains traction in the global mainstream, U.K. lawmakers are moving to review existing legal frameworks to ensure that British courts remain a "competitive" choice for businesses that use smart contracts. Yesterday, former Wall Street executive and crypto merchant bank founder Mike Novogratz nonetheless said he expects its will take "five to six years" for mass crypto and blockchain adoption to materialize.


Bitcoin Dips Below $8,000 Amid Market-Wide Losses

Jul 31st, 2018

July 31: Crypto assets are posting market-wide losses on the day, with Bitcoin (BTC) dipping back below the $8,000 psychological price point and virtually all coins in the red, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,857 to press time, down around 3 percent on the day. Since its July 25 peak at $8,431, the leading cryptocurrency has been testing support at $8,200 over the past few days, dipping down below $8,000 today for the third time this week. Bitcoin's 7-day price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin's weekly price performance is now in the red, down around 4 percent, but monthly growth remains around a bullish 22 percent. Ethereum (ETH) is trading around $432 at press time, down around 5.7 percent on the day. The altcoin has taken a steep hit, losing over $40 in value since early trading hours, $14 of which it lost within the 90 minutes before press time. Ethereum's weekly and monthly price performance are now around 10 and 5 percent in the negative. Ethereum's 24-hour price chart. Source: Cointelegraph Ethereum Price Index On CoinMarketCap's listings, all of the top 10 coins by market cap are down between 3 and 11 percent on the day. EOS has been hit with the heftiest loss among the top ten, losing almost 11 percent on the day and trading around $7.28 to press time. Cardano (ADA) has lost almost as much, down 10.3 percent over a 24 hour period and trading around $0.14 to press time, with Stellar (XLM) down almost 9 percent at around $0.27 per coin. More modest losses have been posted by Ripple (XRP), down around 3.3 percent at $0.43 and Bitcoin Cash (BCH), also down almost 3.3 percent to trade at $787 to press time. Around $10 billion has been wiped from the total market capitalization of all cryptocurrencies on the day. After a weekly high of $303.7 billion, total market cap is now around $281 billion. Total market capitalization of all cryptocurrencies from CoinMarketCap While the markets remain shaky in the short term, two new financial reports have indicated that major players in both the emerging crypto industry and the traditional financial sector have been reaping handsome profits from their crypto-related ventures. Yesterday, figures cited by Fortune for crypto mining hardware giant Bitmain suggested the firm earned around $1 billion in net profit in the first quarter of 2018, with an estimated $2 to $3 billion in future profit for the entire year. Today, online banking service provider Swissquote reported a 44 percent surge in profits in the first half of 2018, an uplift attributed to the "crypto boom" earlier this year. In July 2017, the Swiss-based online bank was credited by many with becoming "the first" European online bank to launch Bitcoin trading accounts for its clients.


Major Crypto Assets See Solid Growth, Total Market Cap Holds Above $300 Billion

Jul 26th, 2018

July 26: crypto markets are seeing a healthy flush of green, with most of major crypto assets seeing solid growth over the 24-hour period, as data from Coin360 shows. After leading last week's major market rally when Bitcoin (BTC) broke the $8,000 psychological price point, the leading cryptocurrency has been consolidating its gains. Altcoins are also holding market confidence, with most of the top ten coins by market cap seeing growth of between 1 and 7 percent on the day to press time, according to CoinMarketCap. Market visualization from Coin360 Bitcoin (BTC) is trading around $8,230 to press time, up just over 1 percent on the day. The largest cryptocurrency peaked at just below $8,300 earlier today -- nonetheless shy of its weekly high of $8,431 yesterday, July 25. Weekly high in Bitcoin's 7-day price chart. Source: Cointelegraph Bitcoin Price Index Bitcoin's weekly and monthly gains are at a bullish 11.9 and 33.3 percent respectively, according to data from Cointelegraph's price index. Earlier today, Blockchain Capital partner Spencer Bogart bullishly compared Bitcoin's price to a "tinderbox," saying the asset is "waiting for reasons to go higher." BTC dominance by market capitalization is at 4

  • Math-Based Currency
    A math-based currency, also referred to as a cryptocurrency, is a digital asset with verifiable mathematical properties, similar to how we can reliably verify gold as a substance made of atoms with 79 protons. Math-based currencies exist as digital assets in their own right and can be transferred directly between users (as fiat cash can be) without relying on a centralized protocol operator. XRP exists as a math-based currency on the Ripple protocol.
  • Abuse Protection
    The primary function of XRP is to protect the Ripple protocol against denial-of-service (DoS) spam attacks. Since the Ripple protocol is based around a shared ledger of accounts, a malicious attacker could create large amounts of “ledger spam” (such as fake accounts) and “transaction spam” (such as fake transactions) in an attempt to overload the protocol. This could cause the size of the ledger to become unmanageable and interfere with the protocol’s ability to quickly settle legitimate transactions.
  • Bridge Currency
    XRP has great value as a bridge currency. Because each gateway’s balances trade as distinct assets within Ripple, the number of potential currency pairings can become quite large. Instead of quoting every possible currency/gateway combination, XRP can serve as a useful bridge currency to enable these transfers. This is possible because if every currency is liquid to XRP, then every currency is liquid to every other currency:

The Ledger and Consensus
The Ripple protocol is, at its core, a shared public database. This database includes a ledger, which serves to track accounts and the balances associated with them. The ledger is a distributed database — a perfect, shared record of accounts, balances, and transactions in the Ripple protocol. It is continually and automatically updated by the Ripple Transaction Protocol (RTXP) so that an identical ledger exists on thousands of servers around the world. At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol. When changes are made to the ledger, computers connected to the Ripple protocol will mutually agree to the changes via a process called consensus. The Ripple protocol reaches consensus globally within seconds of a change being made. The consensus finding process is the engineering breakthrough that allows for fast, secure, and decentralized transaction settlement on the Ripple protocol.

The World’s First Distributed Exchange
No one owns or controls the Ripple protocol. It runs on computers around the world, all working together to continually maintain a perfect, shared record of accounts, balances, and transactions. Distributed networks offer many efficiencies over centralized networks. Because the network is “self-clearing”, it eliminates the need for a centralized network operator (and gets rid of the associated layer of fees). Because there is no single point of failure, distributed networks are more reliable. They also tend to be more secure, due to their open source nature.

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Market share 0.00%
Proof type
24h Open $0.30
24h Low $0.30
24h High $0.31
Price in BTC 0.00008884989398 BTC
Current Supply 99,991,846,912 XRP
Total Supply 2,147,483,648 XRP
Market cap $30,377,525,248
24h Volume (coin) 44,921,964 XRP
24h Volume (currency) $13,811,517
Last updated 2018-12-13 04:43:07 +00:00 GMT
ID Market Type Price Quantity Total
Date Price Volume