Cryptocurrency Market Review To Have A Blessed Weekended

Cryptocurrency Market Review To Have A Blessed Weekended

By Rubika Ventures | rubikaventures | 3 weeks ago

$0.30 tipped


To have a blessed weekend in the cryptocurrency market we want to tell you several interesting stories.

Stories That Left Us Surprised

We know that VeriZon is an important company for the telecommunications sector. For our part, we have to congratulate the company on the initiative of wanting to create its patent to develop a Virtual SIMs on a Blockchain.

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Chicago Mercantile Exchange Always On High

No wonder Chicago always has good news for the market. This time, they announces that they will launch options on its Bitcoin futures contracts in Q1 2020.

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For now, the proposal is under review.

Ethereum Exceeded All expectations

The latest ConsenSys showing that it now has more than 75 million unique addresses.

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The increase in addresses was followed by more use cases for the network, which was used to settle a $20 million bond and host more than 2,500 dapps, says the report.

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Another thing that it says is that while decentralized application development has slowed down its pace since the beginning of the year, the 43 new dapps built in August brought the total number of dapps on Ethereum to 2,597.

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We believe that we are all in tune to think that Ethereum is an excellent project that has helped solve multiple problems related to the development of applications and payment management within them.

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What we really want to highlight is the excellent profits that this week left us in our premium group. Congratulations to all.

Bitcoin Futures, The Most Talked Topic

Throughout this year the topic that has been most debated has been the issue of future Bitcoin contracts. And this month has not been the exception.

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And a green light from the SEC arrived for Bakkt. In only three days Bakkt will introduce its long-awaited Bitcoin futures contracts. As the date approaches, indicators predict that Bitcoin may soon experience high levels of volatility as reported cryptoslate.

On the other hand, the study done by Bitwise New Research suggests Bitcoin Market has materially improved.

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From the study we can highlight that:

  • the average deviation in prices on the 10 real spot bitcoin exchanges has significantly reduced indicating tight arbitrage.
  • Bitcoin custody has become fully institutional. Firms are increasing measures to provide safe custody options and also have insurance coverage against theft, loss, etc.

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  • Futures market have grown in regulated exchanges and represent a significant portion of the real overall Bitcoin market. For instance, in CME exchange, the average daily volume for bitcoin futures in August 2019 was $234,385,300.

The study also talks about the amount of fake volume within the exchanges.

Cryptocurrency Market Is Maturing

With all this, we see that little by little the market is maturing!

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We have more things to tell you, but we will leave it for you to summarize the main news of the week. For now let's look at the retrospective of the market in the last hours.

Total Market Capitalization, Dump & Pump

Over the last 24 hours, total market capitalization rose from ~$264 billion to ~$270.8 billion, with most coins seeing gains in the ~2-8% range, according to the coinmarketcap.

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With regard to the feeling of the community, not much has changed. We remain at an index of 38 to 41 points according to alternative.me.

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Notable mover of the day is 0x (ZRX), currently up ~14.8%. 24-hour volume registered ~$66 billion.

Bitcoin Continues Unpredictable

After the big drop in the price of Bitcoin over $ 155 Million long positions were settled in Bitmex, according to sk3w and datamish.

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Statistics also show that the volume in this exchange has grown gradually in recent days.

Bitcoin bounced back ~3.3% after yesterday's slump, and is back above the $10,000 mark around ~$10,220.

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On the daily chart, BTC bounced off its 100-day EMA line and is now trading between its 50 and 100-day EMA line. RSI is at ~47.

We are seeing that the struggle to get out of the symmetrical triangle continues. But we still believe that before leaving the triangle we could be testing the support again below $ 9.8k.

The only thing we know is that it would save him that would be the launch of future contracts by Bakkt.

Have a nice weekend everyone. With love💛, Rubikators Team.


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Rubika Ventures
Rubika Ventures

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