By Jacob Pouncey | Saxo Bank Analyst | Crypto Current Contributor
This week the entire crypto market cap rose by 1%, bringing the market cap to just above USD 175 bn. Bitcoin rose by 5%, while Ethereum saw a negligible decline over the week. Recently the number of on-chain transactions reached a volume not seen since late 2017. The number of transactions bottomed in April 2018 and has been increasing steadily ever since.
- CME futures volume sets new record
In the past 24hrs, the CME futures market has had more volume than the top spot exchange by over USD 74 mn or close to 13k BTC. Binance, the world’s largest spot exchange, had a volume of USD 294 mn while CME had a notational volume of USD 367 mn according to data by Bitwise. This comes after the exchange had its largest Bitcoin futures volume on record at the beginning of the month.
- TD Ameritrade testing BTC Crypto trading
Litecoin inventor and founder Charlie Lee confirmed that TD Ameritrade is testing the trading of Litecoin and Bitcoin on its platform. The news broke from a quantitative analyst who that clarified the broker was testing paper trading on its platform through NASDAQ. Although paper trading does not directly mean an increase for the underlying asset, it could lead to more effective price discovery should the instrument find adequate liquidity.
- eToro launches new crypto initiative
The online exchange eToro recently launched a new three-pronged approach aiming to bring more adoption to cryptocurrencies. Fist the company released a new cryptocurrency exchange, eToroX, which trades the top digital assets. Secondly, the exchange launched a range of stable coins for the assets to trade against, CAD, USD, GBP.JPY, AUD, CHF, NZD, and EUR. Lastly, the exchange launched its proprietary digital asset wallet that allows users to send and receive digital assets as well as third-party payments. This is good news in the effort of bringing greater liquidity to digital assets
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