Bitcoin surpasses Gold in settlement volume
A well respected cryptocurrency researcher, Nic Carter, said Bitcoin has surpassed the OTC gold market in settlement volumes, even amidst a 70% drop in its price. According to the clearing statistics of the London bullion market the global gold over-the-counter (OTC) market is on track to settle $446 billion in 2018, having settled less than $30 billion on a monthly basis since January. In contrast, based on the data provided by Coin Metrics, a cryptocurrency market data provider cited by Carter, the Bitcoin market has already processed $848 billion this year and is on track to surpass $1.38 trillion by the year’s end.
Given that LBMA account for at least 70% of the global gold OTC volume, at $848 billion, Bitcoin has already settled more value in the past 8 months than the predicted settlement volume of the entire gold market in 2018. The discrepancy in the volume of the gold OTC market and the volume of Bitcoin demonstrates the mainstream has started to acknowledge and adopt Bitcoin as a premier store of value and a medium of exchange, due to its striking advantages over gold, such as fungibility, liquidity, and transportability.
Conservatively, (adjusted estimates), Bitcoin has settled $848b this year, and is on track to settle $1.38T. Bitcoin, it appears, has quietly surpassed the OTC gold market in settlement volumes.
— nic carter (@nic__carter) August 12, 2018
Jamaica Stock Exchange to launch crypto asset trading
The Jamaica Stock Exchange plans to offer cryptocurrencies as tradeable assets for clients. Canadian FinTech startup Blockstation is working with the JSE for the creation of a new digital assets trading platform, the platform is set to go live by the end of the year. JSE managing director Marlene Street Forrest said “The end game at the end of the day is to trade tokens, the end game is smart contacts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner.”
Blockstation co-founder and chief enterprise architect Jai Waterman said the startup has been working with the JSE to develop a custom version of its platform for the exchange. Specific requests from the JSE have included tools to track market manipulation and other regulatory needs, he noted. “Our mission is to provide … a secure method of trading cryptocurrencies with broker-dealers and stock exchanges, We’re providing the stock exchange the technology for a broker-dealer network and repository, so that from end-to-end, their life cycle of trading – just like with securities – they can do the exact same thing with blockchain and cryptocurrencies.”
Square Cash opens Bitcoin buying & selling in all 50 states
Less than two weeks after sharing Square’s cryptocurrency profits had doubled in Q2 2018, the payments company announced, effective immediately, users can now use Cash App to buy Bitcoin in all fifty states. Availability in all fifty states positions Square’s Cash App to compete more directly with Coinbase, the leading consumer application for cryptocurrency purchases in the United States.
Coinbase claims to have enabled the trade of more than $150 billion cryptocurrencies since its launch in 2012, generating more than $1 billion in revenue in 2017 from a reported 20 million registered users. At the end of 2017, Square reported more than 7 million monthly active users, many who joined for the peer-to-peer USD sending service.
Red, white, and bitcoin. Now you can use Cash App to buy bitcoin in all 50 states. pic.twitter.com/D4fhVRz7WL
— Cash App (@CashApp) August 13, 2018
Kraken Daily Market Report for 13.08.2018
KRAKEN DIGITAL ASSET EXCHANGE
$139M traded across all markets today
Crypto, EUR, USD, JPY, CAD, GBP
Blockchain News 14.08.2018
Tether confirms its relationsh...
How much should bitcoin cost s...
If an investor has firmly deci...
Argentina bank becomes the fir...
Coinbase Custody partner ETC p...
Pantera Capital raises $71M fo...
Chaos science journal declares...
BitMEX Affiliate Link 10% Off:...
Visit our website: https://alt...
Ethereum whales have been maki...
Hey Altcoin Daily Team!! Yes!...
Visit our website: https://alt...