Cryptocurrency Market News – Bitcoin and Altcoins News

In 2017, the price of Bitcoin skyrocketed to Coinbase, one of the largest cryptocurrency exchanges in the world, was in the right place at the right time to capitalize on the interest spike. Nevertheless, Coinbase is not interested in granting its crypto profits. In order to stay ahead in a much larger cryptocurrency market, companies are returning money to their master plan. As of 2017, the company’s revenue of $ 1 billion and $ 150 billion of assets have been reported to have been transacted between 20 million customers.

Coinbase, a San Francisco-based company known as the leading cryptocurrency trading platform in the United States and with its continued success, landed at No. 10 on the CNBC Disruptor list in 2018 after failing to make the list two years ago.

On the road to their success, Coinbase has made no effort to hunt down key executives from the New York Stock Exchange, Twitter, Facebook, and LinkedIn. This year, the size of its full-time engineering team has almost doubled.

Earn.com was bought by Coinbase for 100 100 million this April. The platform allows users to send and receive digital currency while replying to mass market emails and completing micro tasks. Currently, the company plans to bring in Andresen Horowitz, a former venture capitalist, founder and CEO of Arns, as its first chief technology officer.

At current estimates, Coinbase is worth about $ 8 billion to buy Earn.Com. This value is much higher than the $ 1.6 billion valuation estimated in the last round of venture capital financing in the summer of 2017.

Despite receiving more than 225 million in funding from Union Square Ventures, Andresen Horowitz and the top VC from the New York Stock Exchange, Coinbase declined to comment on its valuation.

To meet the needs of institutional investors, the New York Stock Exchange plans to launch its own cryptocurrency exchange. NYSE rival Nasdaq is considering a similar move.

The competition is coming

Since competing firms want to get out of the Coinbase business somewhat, Coinbase is looking to capitalize on other ventures in an effort to build a trench around the company.

Dan Dolev, a Nomura Instant analyst, says Square, a company run by Twitter CEO Jack Dorsey, could take part in the Coinbase exchange business as it launches cryptocurrency trading on its Square Cash app in January.

According to Dolev estimates, Coinbase’s average trading fee in 2017 was about 1.8 percent. These high fees can lead users to other cheaper exchanges.

Coinbase wants to be a one-stop shop for institutional investors while hedging its exchange business. To entice that white glove investor class, the company has announced a fleet of new products. This category of investors is particularly wary of diving into volatile cryptocurrency markets.

Products produced by Coinbase Prime, The Coinbase Institutional Coverage Group, Coinbase Custody and Coinbase Markets Company.

Coinbase thinks there are billions of dollars of institutional money that can be invested in digital currency. It has already saved $ 9 billion in consumer assets.

Institutional investors are concerned about security, although Coinbase has not been hacked like some other global cryptocurrency exchanges. The president and COO of Coinbase said the motivation for launching Coinbase Custody last November was the lack of trusted guardians to protect their crypto assets.

• Currently moved from Wall Street bashing bit to cryptocurrency backer

According to the latest data from Autonomous Next Wall Street, interest in cryptocurrencies seems to be on the rise. Currently, there are 287 crypto hedge funds, whereas in 2016, only 20 cryptocurrency hedge funds existed. Goldman Sachs has even opened a cryptocurrency trading desk.

Coinbase has also launched Coinbase Ventures, an incubator fund for early-stage startups operating in the cryptocurrency and blockchain space. Coinbase Ventures has already raised 15 billion for further investment. Its first investment was announced in a startup called Compound, which allows one to lend or lend cryptocurrency while earning interest rates.

In early 2018, the company launched Coinbase Commerce, which allows merchants to accept major cryptocurrencies for payment. Another Bitcoin startup was Bitplay, which recently raised $ 40 million in venture money. Last year, BitPlay processed more than $ 1 billion in Bitcoin payments.

Proponents of blockchain technology believe that in the future, cryptocurrency will be able to meet the requirements of the central banking authority. In the process, it will reduce costs and create a decentralized financial solution.

Regulatory security remains tight

Coinbase has been widely criticized for restricting access to four cryptocurrencies. But U.S. regulators need to be cautious when it comes to policing certain uses of technology.

For cryptocurrency exchanges like Coinbase, the concern is whether the cryptocurrencies are securities that are under the jurisdiction of the Securities and Exchange Commission. Coinbase is known to be slow to add new coins because the SEC announced in March that it would apply security laws to all cryptocurrency exchanges.

The Wall Street Journal reports that Coinbase has met with SEC officials to register itself as a licensed brokerage and electronic trading venue. In such a situation, it would be easier for Coinbase to support more coins and comply with security regulations.

Cryptocurrency has been around for quite some time now and there are multiple papers and articles on the basics of cryptocurrency. Not only has cryptocurrency improved but it has also opened up new and trusted opportunities for investors. The crypto market is still young but mature enough to pour enough data for analysis and to predict trends. Although it is considered to be the most volatile market and a huge gamble as an investment, it has now become predictable at a certain point and evidence of Bitcoin futures. Many concepts of the stock market have now been applied to the crypto market with some changes and modifications. This gives us another proof that many people are taking up the cryptocurrency market every day and there are currently over 500 million investors in it. Although the total market cap of the crypto market is $ 286.14 billion which is about 1 / 65th of the stock market at the time of writing, the market potential is very high considering its success despite its age and presence of already established financial markets. The reason behind this is nothing but the fact that people have started believing in technology and products that support crypto. This means that crypto technology has proven itself and so much so that companies have agreed to keep their assets in the form of crypto coins or tokens. With the success of Bitcoin came the idea of ​​cryptocurrency. Bitcoin, once the only cryptocurrency, now accounts for only 37.6% of the total cryptocurrency market. The reason is the emergence of new cryptocurrencies and the success of projects that support them. This does not indicate that Bitcoin has failed, in fact the market capitalization of Bitcoin has increased, but rather it does indicate that the crypto market has expanded as a whole.

This information is sufficient to prove the success of cryptocurrencies and their markets. And in reality investing in the crypto market is now considered safe, to the extent that some people invest for their retirement plans. So we need the next tools for analyzing the crypto market. There are many such tools that enable you to analyze this market in a way similar to the stock market delivery metrics. Including Coin Market Cap, Coin Stalker, Cryptoz and Investment. Even thought that these metrics provide important information about simple, considered crypto. For example, a high market cap indicates a strong project, a high 24-hour volume indicates high demand, and circulation supply indicates the total amount of cryptocurrency in circulation. Another important metric is the instability of a crypto. Instability is how much the price of a crypto fluctuates. The crypto market is considered to be extremely volatile, cashing out in a moment can be very lucrative or pull your hair. Thus what we are looking for is a crypto that is stable enough to give us time to make a calculated decision. Currencies such as Bitcoin, Etherium and Etherium-Classic (not specifically) are considered stable. Once they are stable, they need to be strong enough so that they do not become illegal or cease to exist in the market. These features make a crypto reliable and most reliable cryptocurrencies are used as a form of liquidity.

As far as the crypto market is concerned, volatility comes in handy, but so does its most important asset i.e. decentralization. The crypto market is decentralized, which means that a drop in the price of a crypto does not mean a lower trend of any other crypto. This gives us an opportunity to be called a mutual fund. This is the idea of ​​managing a portfolio of cryptocurrencies that you invest in The idea is to spread your investments across multiple cryptocurrencies to reduce the risk involved when a crypto bear starts operating.

The concept of crypto market index is similar to this concept. The indicators provide an ideal point for the market as a whole. The idea is to select the top currencies in the market and distribute investments among them This selected cryptocurrency changes if the indicator is dynamic in nature and only considers the top currency. For example, if a currency ‘X’ drops to 11th place in the crypto market, the index considering the top 10 currencies will no longer consider the currency ‘X’, but will begin to consider the currency ‘Y’ which has replaced it. Some providers such as cci30 and crypto20 have tokenized these crypto indicators. While this may seem like a good idea to some, others oppose it because there are certain pre-requisites for investing in these tokens, such as the minimum amount of investment required. While others provide methods and values ​​of an index with elements of such cryptocurrency so that an investor can invest his desired amount and choose not to invest in a crypto otherwise included in an index. Thus, indicators give you a choice to smooth out volatility and reduce the risks involved.

Conclusion

The crypto market may seem risky at first glance and many may still be skeptical of its authenticity, but the maturity that this market has achieved in the short span of its existence is surprising and there is ample evidence for its authenticity. The biggest concern of investors is instability, for which there was a solution in the form of indicators.