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SBI Holdings considering U.S Ripple investment, Binance’s site traffic peaks and more

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Crypto News – 11 June

Telegram TON tokens to be made available

Telegram, the messaging giant, will work with cryptocurrency platform Liquid for the public sale of Telegram Open Network [TON]

Read more at https://bit.ly/2ZgtHjl

Women engagement in BTC community hits all-time high

According to an image shared by Jameson Lopp, the participation of women in the cryptospace is at an all-time-high, constituting nearly 10% of Bitcoin’s community

Read more at https://bit.ly/2I6U1Xm

BTC’s support, resistance play flip-flop

The June 10 price upswing could be summarized as a flip-flop, with the support and resistance shifting places as Bitcoin is now on the verge of breaking $8,000 for the second time in under a month.

Read more at https://bit.ly/2F2Vlsu

#DropGold campaign or ‘Bitcoin cartel’?

In a recent Twitter thread, the battle between Gold and BTC continued, with a prominent gold and forex analyst claiming that the precious metal and its value were not dying, but rather was on an uptrend

Read more at https://bit.ly/2ZjdkCy

Bitcoin surges after CNBC’s stock-comparison jibe

CNBC took a shot at crypto by charting Bitcoin’s price change and that of the $24 trillion stock market index and the S&P 500

Read more at https://bit.ly/2XF6abt

BTC: Whales stalling coin’s move to $9000?

STIPS|Oculus platform identified 38 questionable transactions that are valued at over 50,000 BTC in 2019 alone, transactions that have had a significant effect on the coin’s price

Read more at https://bit.ly/2R8LQN9

Tron’s block height breaches 10 million mark

The latest news from the Tron roster was wildly celebrated by the TRX community after it was revealed that Tron’s block height had crossed the 10 million threshold.

Read more at https://bit.ly/2WwVfiO





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Bitcoin

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

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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.





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