Category: Markets

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Crypto Markets

eToro Will List Cryptocurrencies And Mainstream Stocks Together

In a new big announcement, eToro reported that the trading platform would list cryptocurrencies and mainstream stocks together, coming out with the first trading platform to list both cryptos and stocks at the same time. More important, with this new feature eToro implements, investors will be able to trade mainstream stocks and sustain their investments with their cryptocurrency wallets.

Price really matters, and we think ticket and management fees are exactly the kind of old world practices that put many people off investing. We are rethinking some of the outdated practices investors might be used to from other investment providers. It also means we’ll continue to expand the range of assets we make available to our 10 million users.

Yoni Assia, CEO of eToro, in an official statement

The move eToro has made is indeed a great one and helps traders from different fields to get along on a single platform.

eToro will list cryptocurrencies and mainstream stocks together, a fact which will increase the cryptocurrencies adoption

As mentioned above, the new eToro feature will list mainstream stocks and cryptocurrencies together, on the same unique platform, and this will make it possible for traders to sustain their investments in traditional assets with their cryptocurrencies wallets.

Also, eToro, from now on, will cover the stamp duty which is the fee the traders would usually have to pay when acquiring the UK shares.

Additionally, eToro has announced that it will be absorbing stamp duty on the purchase of UK shares, and will not charge ticket or management fees to any user buying shares through eToro. The platform isn’t completely feeless, however; according to the announcement, fees are included in the spread which is just 0.09% per side.

Finance Magnates

As for the cryptocurrencies adoption, the eToro new feature will help a lot, as the cryptocurrencies market might now attract the traditional investors. Of course, on the other hand, the cryptocurrencies traders might also be tempted to invest in mainstream stocks.

All these investments will now be straightforward to do as eToro will list cryptocurrencies and mainstreams stocks together.

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Crypto Markets News

Cryptocurrency Mining Entrepreneurs To Enjoy A New Energy Plan From Hydro-Quebec, in Canada

Hydro-Quebec will finally make 500 megawatts (MW) available to cryptocurrency mining, leaving many contractors hungry. “We think we can connect customers this fall,” stated the Hydro-Quebec spokesman Jonathan Cote, on Thursday.

In the coming days, Hydro-Quebec will file a request for proposals with the Energy Department but it is the regulatory tribunal that will have to set a new electricity rate for this class of Canadian corporation’s customers.

Annually, Hydro-Quebec plans to supply 5 terawatt-hours (TWh) to meet this rapidly growing sector, even though it has significant energy surpluses.

A ministerial decree, tabled last week, now regulates the sale of energy to cryptocurrency mining projects, a technology that, as it is well-known already, requires powerful computers which consume a lot of energy.

Over 300 cryptocurrency mining projects have applied for the upcoming Hydro-Quebec energy plan

Hydro-Quebec says it has received more than 300 cryptocurrency mining projects applications in the recent months for a potential demand of more than 15,000 MW on its system.

Recently, Hydro-Quebec senior management met in Montreal with leaders of the Chinese cryptocurrency mining giant Bitmain, which wants to establish itself in Quebec, Canada.

Hydro-Quebec currently offers a 120 MW block to the cryptocurrency mining industry but several cryptocurrency entrepreneurs informed on Thursday that they are very disappointed with this new government policy and they demanded for more. Some of these local cryptocurrency miners fear they won’t be able to compete with the big players of the cryptocurrency mining industry as some of them, such as the before-mentioned Bitmain, are already in the picture and in discussion with the Canadian government.

The Crown corporation, on the other hand, plans to use “forced load shedding” to have access for 300 hours in winter to electricity from these companies while the Quebec power grid is operating at maximum capacity.

Quebec province is the ideal place in Canada, and one of the few in the world, as the annual average temperature is ideal for cryptocurrency mining equipment to work flawlessly and cost-effective, and this is why many cryptocurrency miners are drawn to this region.

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Crypto Markets

Bitcoin (BTC) To Be Trading At $25K by The End Of 2018, According To Fundstrat’s Tom Lee

Although it may start to look like a track played in a loop, Tom Lee from Fundstrat has not yet dismissed his $25,000 prediction regarding the Bitcoin (BTC). At the beginning of the year, Lee declared that Bitcoin (BTC) will be traded at $20,000 by mid-2018 just to end the year at $25,000.

Now, even though the mid-2018 is here alright and Bitcoin (BTC) is traded at  $7,245 (-4.83 in the last 24 hours), thus, pretty much behind Lee’s $20,000 prediction for the mid-year, Tom Lee still refuses to change his mind regarding his $25,000 prediction for the end of the year.

According to him, it is very achievable for BTC to grow about 250% in the following 5-6 months to reach $25,000 by the end of 2018. However, even though Bitcoin (BTC) did it once, this year’s cryptocurrencies market is different and, as we speak, it follows a sort of a long-lasting downtrend.

Bitcoin (BTC) to be trading at $25,000 by the end of 2018, predicts Tom Lee

In a recent interview Tom Lee had on Bloomberg, he showed himself very comfy and confident with its predictions, despite the fact that he has already mistaken half of the forecast, as BTC hasn’t reached $20,000 in mid-2018 and is quite impossible for it to grow so much in only a month or two.

Based on what did Lee say, the cryptocurrencies count is supposed to surpass its former all-time high. The Fundstrat’s market analysts pointed to the rise of increased exposure in institutional work. In the last few months, businesses both within and beyond the mainstream cryptocurrency environment have released products and services targeted to big institutional investors. He gave Nasdaq and Goldman Sachs as examples.

Additionally, he also thinks that well-established cryptocurrency regulations, such as those in Japan, will, in fact, help the cryptocurrencies market on the long-term, especially the Bitcoin (BTC).

Tom Lee is completely sure the Bitcoin (BTC) will be trading at $25,000 by the end of 2018 also because Bitcoin mining will become costly, reaching around 13,000 by the end of the year, therefore the cryptocurrency has to be twice as valuable.

 

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Crypto Markets

Coinbase Acquired Keystone Brokerage Firm And Circle P2P Payments Platform Seeks Banking License

The renowned cryptocurrency exchange, Coinbase, continues to make its way to emerge on the traditional stock market. Already one of the world’s leading Bitcoin (BTC) and other cryptocurrency trading platform, Coinbase has acquired the California-based securities brokerage firm Keystone.

While the details of the agreement are not yet known, speculation is growing that it is the first step for the cryptocurrency-related firm to offer products based on digital assets in the form of shares, in the future.

Keystone Capital Corp. is a US FINRA registered broker and is licensed to operate as an investment advisor, as well as to operate an alternative trading system, or ATS.

For Coinbase, which currently markets only the most capitalized cryptocurrencies on the market, the acquisition of Keystone could open up new business opportunities and allow it to offer its services to institutional investors with ease. Also, the acquisition of Keystone also increases the possibility that Coinbase may, in the future, expand on Wall Street.

But first, Coinbase will need regulatory approval to operate under Keystone’s licenses. President and COO Asiff Hirji said Coinbase is confident that he will get approval from the authorities. The company has advanced that in a matter of several months it will be able to integrate Keystone’s operations, once it obtains such approvals.

While Coinbase acquired Keystone, Goldman Sachs’ Circle P2P payments platform pursues a federal banking license

Coinbase movement is not the only one of this kind that has taken place in the last few hours.

Also, the P2P Circle payment platform, supported by Goldman Sachs in one of its final rounds of funding, pursues a federal banking license with the Office of the Currency (OCC) and registration as a brokerage and trading venue with the US Securities and Exchange Commission (SEC).

According to Coin Telegraph, Jeremy Allaire, CEO of Circle, has said that the platform first seeks the approval of the SEC and, to that end, has already withdrawn the tokens that do not confirm the US supervisor’s guidelines for the Poloniex cryptocurrency exchange platform, which they acquired for $400 million in late February.

Experts point out that Wall Street is taking small steps to give space to cryptocurrencies, thus the news that Coinbase acquired Keystone and Circle P2P payments platform seeks officials’ recognition shouldn’t come as a surprise.

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Crypto Markets

TRON (TRX) Dealt With Shift Markets And Made Its Emergence On The Mainstream FOREX Markets

In an early movement, corroborating with the ongoing impetus of the Tron (TRX), Justin Sun, reported on his official Twitter page the significant association of the Tron Foundation and Shift Markets, reported Ethereum World News. This deal will boost TRX’s liquidity even more not just within the cryptocurrencies markets but in mainstream Forex markets trading global fiat currencies, as well.

TRON partnered with @shiftmarkets to introduce $TRX into more currency markets around the world. Stay tuned.

Justin Sun, TRON (TRX) CEO, on Twitter

Justin Sun has also shared a link to the official announcement which also talks about the fact that TRON (TRX) will now be the liaison between cryptocurrencies market and mainstream Forex markets, as TRX will be available for trading from 9 brokers, each from a different country.

The first one to bring TRON (TRX) will be an UK-based exchange, in the forthcoming weeks, and will be closely followed by J.M. Financial, a broker based in India.

TRON (TRX) partnered with Shift Markets and will emerge on mainstream Forex markets

We are delighted to close the gap between the foreign exchange and cryptography markets with a project as popular and exciting as TRON. The demand for FX has been huge, and we anticipate more and more crossover between the two markets.

Ian McAfee, Shift Markets CEO

Shift Markets offers a comprehensive brokerage suite that covers liquidity, trading technology, risk management, sales, marketing, and compliance. Among Shift Markets’ clientele, there are brokers, CFDs, cryptocurrency, as well as mid-market and start-up companies.

The services offered by Shift Markets cover anything from start-up stage of a company to the maturation phase.

On the other hand, at the moment of this writing, TRON (TRX) is traded at $0.060, increasing by about 3.20% in the last 24 hours. TRX is placing on the 10th position on the cryptocurrencies market with a market cap of about $4 billion.

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