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New Bitcoin and Ethereum Liquid Indices go live on Nasdaq

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Bitcoin core and Ethereum indices to go live from February 25
Source: Pixabay

The second largest stock exchange, Nasdaq launched real-time information on two new indices linked to the crypto asset market – Bitcoin and Ethereum. Bitcoin Liquid Index [BLX] and Ethereum Liquid Index [ELX] were incorporated on NASDAQ’s platform on 25 February.

NASDAQ in an online statement earlier this month announced,

“provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets.”

The two indices that were developed by Brave New Coin, will procure information and data from various exchanges to render a ‘single price point for Bitcoin [BTC] and Ethereum [ETH].’

BLX and ELX  joins the likes of Nasdaq Composite, its main index, and the Nasdaq 100, through its Global Index Data Service.

The end goal is to bolster mainstream adoption by fusing crypto asset indices into traditional entities like the stock market, in turn, garnering greater interest and investments into such assets.

The second largest stock market in the world in 2018, had published analytical reports on Bitcoin [BTC] and collaboration with the investment management firm, VanEck to launch BTC futures – Crypto 2.0.

NASDAQ also joined hands with the New York-based blockchain startup, Symbiont, in a deal which was the stock market’s largest investment in the blockchain tech space.

NASDAQ has over 3000 firms under its hood. Earlier this year, Adena Friedman, the President and CEO of Nasdaq Inc. asserted that the underlining invention of the crypto asset is a “demonstration of genius and creativity.”

“They are reading the writing on the wall and don’t want to get left behind. Adoption happens gradually right in front of you, until you finally pause, look around, and bitcoin is the dominant asset. This is huge.”





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

Bitcoin

Bitcoin’s censorship resistance, freedom make it a game changer in the economic industry

Biraajmaan Tamuly

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Bitcoin's censorship resistance, freedom makes it a game changer in the economic industry
Source: Pixabay

Over the years, the global economic industry has witnessed significant changes. However, no change has been more significant or essential than the one introduced by the concept of virtual assets or Bitcoin. Today, Bitcoin and other virtual currencies are almost as essential as fiat money and despite the fact that digital assets have not reached worldwide adoption, the pace of growth has been substantial.

In a recent panel discussion, Jedidiah Taylor, CEO and Founder of Decent.Bet, the smart contract-based sports betting platform, stated that the idea of Bitcoin and blockchain technology projected a perspective of freedom and honesty which allowed individuals to have direct control over their own capital, without any oversight supervision from financial institutions.

The sentiment was followed by Nico De Jonghe, Founder and CEO of NDJ Investment Group, who added that the threat of decentralized assets loomed the largest over centralized institutions like banks, who were worried of the future prospects offered by Bitcoin and its impact on the long-term financial situation.

Tone Vays, a reputable analyst and Bitcoin proponent, opined and stated that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention. The characteristic of censorship-resistant value transfer is also an absolute game-changer for Bitcoin, allowing it to competitively exist in the financial system.

The value of Bitcoin has often been criticized in the past, but its valuation has consistently proven its worth. In fact, Bitcoin has grown by more than 150 percent in 2019.

At press time, Bitcoin was priced at $11,371, with a market capitalization of over $202.18 billion. The staggering valuation of an asset that was unheard of 10 years ago, further underlines the potential of Bitcoin in the current market scenario and for the future economies.





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