Crypto Week in Review: the market moves out of collapse, the futures on Ethereum



Although the last seven days have been relatively quiet for this sector, the hopes for long-term growth and the adoption of cryptographic assets like Bitcoin and Ethereum remain at historic highs, as a range of companies has released a variety of innovative products that

CBOE launch Ether futures in the coming months

Thursday it was revealed that the CBOE, the largest exchange of options based in the United States, has moved a step towards launching of an Ethereum (ETH) futures contract. Speaking with Business Insider, those familiar with the issue have noticed that the CBOE has started telling market makers that only a few months have passed since the public release of Ether futures. In fact, some insiders have noticed that the product could be launched from January 2019, which is only four months. It is likely that the SEC clarification that ETH is not a security has opened the door to CBOE to start working on the contract.

Like the CBOE XBT futures contract (Bitcoin), the long-awaited Ethereum product will be based on the spot prices published by the Gemini exchange owned by Winklevoss, which has become almost infamous for working hand-in-hand with US regulators.

Regardless of this, many expect that the forthcoming future negotiations on Ethereum will contribute to pushing the development and maturation of the Ethereum project and, subsequently, the growth of the overall cryptosphere. Danny Kim, leading the growth of SFOX, has alluded to this hope in the following statement:

"The offer of CBOE will allow the cryptographers to take long and short positions in ether, and is another step towards a new asset class accepted With this, I think the new investment opportunity will take away the crypt from the bear market and will reverse into a new bull. "

It is important to note that the CBOE was the first organization to offer a future contract on BTC, then it makes Intuition that the Chicago-based financial institution will continue to take the helm of the growing subcategory of encrypted futures.

China continues on Crypto Crusade for the second week in a row

As explained in the last cryptic week in the Chinese heavyweight government began its second crusade against cryptocurrencies, with regulators around the country that did their best to eliminate the crypt. Although the Chinese crypto community has already been severely affected, regulatory bodies have continued their anti-cryptic path this week.

Regulators have recently taken even more drastic measures, giving Baidu, a Chinese Internet giant, essentially censoring the online speech about cryptocurrencies and other forms of digital resources. More specifically, Baidu began to restrict access to forums and discussion forums focused on cryptography, citing "relevant laws, regulations and policies".

In addition, the People & # 39; s Bank of China issued a 'passionate statement against cryptocurrencies, noting that companies raise funds under the banner of financial innovation' were attempting to deceive the public Chinese. Comparing the cryptocurrency with smallpox epidemic, the central bank wrote:

"The general public should be rational about the blockchain, do not blindly believe in the promise of smallpox, establish a correct monetary concept and investment philosophy, and effectively raise awareness of risk, and actively report illegal criminal clues to the relevant departments. "

For now, it appears that the dust has stabilized and, unfortunately, it is clear that the Chinese government has come out on top this time. Nevertheless, the most irreducible of the decentralized movement observe that this is far from the end of the cryptic scene in China, since it would be foolish to go down without a fight.

Line Introduces the "LINK" line Criptovaluta

one of the leading Internet companies in the East, made its first foray into the cryptocurrency sector at the end of June, announcing the creation of a Singapore-based exchange called BitBox. As mentioned in the original press release, the exchange is intended to be an easy-to-use, accessible and mobile-focused platform for crypto-crypto operations on the move.

But now that the launch of BitBox has come and gone relatively successfully, the social media giant seems to have died on the expansion of its crypto-related offers. According to an article by The Verge, Line intends to launch the LINK project, which will be its cryptocurrency that will probably be connected to a privately managed blockchain. LINK will not be issued via an ICO, but rather, Line intends to allocate tokens to users of products in the company's ecosystem, rewarding individuals who complete certain tasks or use certain programs.

The social enterprise also noted that tokens hold value, as consumers will be able to spend the tokens on stickers, webtoons and other products and services within the messaging application company. In addition, Line intends to offer LINK trading support on the aforementioned BitBox platform and will allow users to use LINK to use the fees charged by the exchange trading engine.

If this initial move is successful, Line will eventually use the LINK blockchain to host decentralized applications (DApps) that will connect to the popular enterprise messaging application.

Although LINK may not seem much on the surface, many are hoping that this introduction will guide the adoption of cryptographic resources in general.

Along with the LINK, the company also recently announced "Unblock Ventures," an early stage venture capital fund backed by $ 10 million in initial funding. With the fund, the exchange and the Line-backed token, the innovators of the technological society intend to support the development and growth of cryptocurrencies and blockchain technology in the long run, since it seems that the company's leaders are proponents of the cryptographic movement.

Yahoo Finance introduces the functionality of Crypto Trading

Yahoo Finance, one of the most popular finance sites in the world, has recently taken a more friendly attitude towards cryptography, introducing BTC's on-site trading support, ETH, LTC and BCH on Wednesday. The community exploded immediately with an impromptu party, with artists such as the founder of Litecoin Charlie Lee and Anthony Pompliano of Morgan Creek Digital Assets expressing their excitement at this unexpected move.

However, for unknown reasons, the Yahoo subsidiary of New York withdrew this function only 24 hours after people discovered it, leaving many questions unanswered. After a short period of uncertainty and confusion, Yahoo Finance finally clarified the situation by publishing a publication on the subject. The company noted that it intends to offer cryptography support for BTC, ETH, LTC and DOGE first in the IOS Yahoo Finance app, adding that this feature was activated by a partnership with TradeIt.

Although not explicitly stated, it was implied that the move to offer commercial support for the official Yahoo Finance website was premature, but it is not off the table for updates in the near future. So, following the IOS version, the company intends to expand support for Android devices and desktops in the coming weeks.

As Line's move to launch its cryptocurrency, many are hoping that this product will increase encrypted adoption and global awareness.

Bitcoin sends the third consecutive week to positive action on prices

For the first time in weeks, if not months, the cryptocurrency market has recorded a considerable gain over the last seven days. Even with a relatively quiet news cycle, the total market capitalization of all cryptographic assets increased by 10% this week, from $ 215 billion to $ 237 billion in a gradual, bullish move.

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Image courtesy of CoinMarketCap

Bitcoin started this week at $ 6,600, following the now infamous BitMEX maintenance session, where BTC rose more than $ 400 in the hours following the temporary closure of the popular exchange. In the beginning, many were skeptical that the price of the asset would exceed $ 6,800, which was widely publicized as an important level of resistance in the eyes of technicians. But as the week went on, Bitcoin began its steady rise to $ 6,750, taking a temporary stop before moving over $ 6,800 and beyond. At the time of writing, BTC found a profit of $ 7,200 and continues to trade in the $ 7,050 – $ 7,250 range.

Although Bitcoin is the cryptography leader as usual, this week altcoins have undoubtedly outperformed BTC, with assets like XMR, IOTA, EOS, DASH, BCH and other posting astronomical gains that have dropped the jaws of "altcoin maximizers" "and short-term speculators. This led to a slight decline in the number of dominant Bitcoins, rising from 53.7% last week to 52.3% of how it is today.

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Image courtesy of Coin360.io

It has become clear that the underlying sentiment in this sector is starting to see positive change, as Brian Armstrong once said, "It is becoming more and more difficult to become a skeptical cryptic. "

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