Connect with us

News

Bitcoin’s [BTC] domino effect: Ethereum [ETH] up by 8%, EOS surges 4% in an hour

Namrata Shukla

Published

on

Bitcoin's [BTC] domino effect: Ethereum [ETH] up by 8%, EOS surges 4% in an hour
Source: Pixabay

The cryptocurrency market saw the prices of most major cryptocurrencies rise after Bitcoin [BTC] registered considerable growth on May 11. Ethereum and EOS joined the league of the best performing coins as they noted a growth of over 2% in an hour.

Ethereum [ETH]

Source: Trading view

Source: Trading view

At press time, ETH was valued at $191.71 with a market cap of $20.32 billion. The 24-hour trading volume of the coin was reported to be $9.92 billion as it spiked by 7.96% over 24 hours. In the past seven days, ETH noted a growth of 17.92% and continued to stride up by 2.52% in an hour.

ETH was highly traded on EXX exchange via the ETH/BTC pair as it registered a volume of $453 million. EXX was followed by ZBG with a volume of $452 million via the ETH/USDT pair. The third place was taken by LBank via the ETH/USDT pair with a volume of $340 million.

EOS

Source: Trading view

Source: Trading view

At press time, EOS was valued at $5.42 with a market cap of $4.94 billion. The 24-hour trading volume of EOS was noted to be $3.13 billion as it noted an 11.90% growth over the past day. In the past seven days, the coin noted a growth of 9.95% and continued to rise by 4.98% within an hour.

The highest 24-hour trading volume was registered by Bibox via the EOS/ETH pair and the volume registered was $285 million. DigiFinex followed Bibox on the second place with $222 million in volume via the EOS/USDT pair. The third place was taken by ZBG with $173 million in volume via the EOS/USDT pair.





Subscribe to AMBCrypto’s Newsletter


Bitcoin

ErisX goes all hands on deck to launch a Bitcoin Futures market

Avatar

Published

on

ErisX goes all-hands on deck to launch a Bitcoin Futures market
Source: Unsplash

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.





Subscribe to AMBCrypto’s Newsletter


Continue Reading