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Bitwise Invest 20 constitutes of 15.37% in Tron [TRX]

Priya

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Bitwise Invest 20 constitutes of 15.37% in Tron [TRX]
Source: Unsplash

Bitwise Asset Management, the firm which launched the very first cryptocurrency index fund, updated their Bitwise 20 mid cap crypto index on December 10, 2018. The firm is also well-known in the space for its partnership with Morgan Creek Digital Assets.

The firm is in the spotlight because of the assets in the Bitwise Invest 20, which consists of 20 leading cryptocurrencies in the market. According to the latest updated, the Bitwise Invest 20 constitutes of 15.37% in Tron, the tenth biggest cryptocurrency by market cap, making it the biggest among all. The other top portions are divided as – 11.58% in NEM, 11.45% in IOTA, 9.66% in Ethereum Classic, and 5.48% in NEO. It also includes Dogecoin, Tezos, Decred, Bitcoin Gold, and Lisk.

This excludes all the cryptocurrencies in Bitwise 1o Large Cap Crypto Index, which consists of 10 cryptocurrencies. It constitutes of 66.38% in Bitcoin, 13.64% in XRP, 9.40% in Ethereum, 2.30% in Stellar, and 2.02% in EOS. The other cryptocurrencies are Bitcoin Cash, Litecoin, Monero, Dash and Zcash.

Mike Dudas, co-founder of Button says:

“I just looked at the 5 largest assets in the @BitwiseInvest 20 and want to cry “

Aditya Das, an alt-coin investigator says:

“I’m blown away by this… It has Bitcoin Gold, Lisk and largest chunk of the basket is TRX? Not even the most daring alt-coin trader would have a portfolio like this”

Starving meme artist, a Twitterati says:



“LOL they also have 5.26% Dogecoin and 4.2% BTG xD holy shit thats hilarious, 1/20th of this shit is fucking dogecoin”

Recently, the Chief Executive Officer of Bitwise, Hunter Horsley spoke about the cryptocurrency market crash, in an interview with Bloomberg. According to him, the plunge in Bitcoin’s price is the reason for the crash of the whole market.

Additionally, the CEO believes that the cryptocurrency market is in a bad place. He also stated that the cryptocurrencies trade is similar to that of the public equity, however, it behaves more like a venture stage phenomenon.



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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Altcoins

76497|Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether

Febin Jose

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Source: Pixabay

Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.

Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.

Source: Twitter

Source: Twitter

Source: Twitter

Source: Twitter

 

 

 

 

 

 

 

 

The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.

In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.

Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].



Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.

Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.

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Altcoins

76476|DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum

Akash Anand

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DigiByte [DGB] soars by 9.7% as online movement for Coinbase addition gains momentum
Source:Pixabay

The cryptocurrency market was punctuated by several altcoin surges this week, with Tezos and Ontology leading the charge. The latest entrant to ride the bull wave was DigiByte, the 35th ranked cryptocurrency on CoinMarketCap. It climbed up the charts to become the biggest gainer in the top 50.

Source: CoinMarketCap

At press time, DigiByte [DGB] was trading at $0.015, and was rising by 9.72%. The cryptocurrency held a total market cap of $169.073 million with a 24-hour trade volume of $3.091 million. A majority of the trade volume was split between BiteBTC and Bittrex, two popular cryptocurrency exchanges. BiteBTC recorded DigiByte transactions worth $1.156 million, while Bittrex recorded $315,308 worth of DGB trade.

Source: CoinMarketCap

The 24-hour chart showed the cryptocurrency’s value shooting up, before settling into sideways movement. DGB’s value surged from $0.0126 to $0.0144, in under an hour. It was speculated by many online that the addition of DigiByte on Magnum Wallet, and its latest release, the Magnum Notifier Bot, was what sparked the DigiByte surge. The bot is a free-to-use Telegram bot which notifies the user when the connected wallet participates in any transactions. The bot also gives DGB holders all transaction related information.



DigiByte was also helped by its community starting a new online campaign requesting Coinbase CEO Brian Armstrong to add DGB to its fold. Frederik Bf67, a Twitter user, and a DigiByte fan tweeted:

“Hello Brian, i would love to see @coinbase adding @DigiByteCoin to it’s platform. You know #DGB has been around for a long time and has proven itself over time to be a highly secure and fast blockchain with exellent use cases suported by thousands of people on every continent.”

Another DigiByte fan, Mark Brown replied on the same thread saying,

“Tell that to @barrysilbert , he’s the one to talk to brother 😏

@brian_armstrong and @AsiffHirji can do so much. It’s out of their hands.

I’ve even helped pass along a petition and nothing. I’ve gotten over 10k signatures to have #dgb added to #coinbase and nothing.”

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