CME: futures did not cause the collapse of the bitcoin rally after 2017

Managing Director of CME Group Tim McCourt denied the common theory that the alleged launch regulated bitcoin futures caused the collapse of the market after the rally of 2017.

«Often people ask us: «Futures have led to lower prices from $20 000 to $3000?» The answer is no», — said Tim McCourt in conversation with the Decrypt.

He recalled that at first the circulation bitcoin futures on CME 1,100 contracts, equivalent to 5300-5500 BTC or roughly $100 million price at the end of 2017.

«Given the size of the bitcoin market at the time, the spot trade and the scale of mining, the futures in no way could have such an effect. These things are subject to the law of supply and demand and we simply did not have sufficient resources for a similar effect», — said McCourt.

Bitcoin futures on the Chicago Mercantile exchange (CME) was launched on 18 December 2017. A day earlier, the price of bitcoin has reached a historic high in the area of $20,000, but soon went down sharply.

Despite the sharp change of moods and a bear market, trading volume bitcoin futures on CME growing by may of this year the average daily turnover has reached 13 600 contracts, corresponding to 68 000 BTC, or $515 million at the exchange rate at that time.

«We definitely affect the pricing because people can freely Express their demand by buying and selling on the CME, interacting with each other. However, I wouldn’t say that we directly affect the price», — said McCourt.

In addition, the representative of the CME stated that is an ardent supporter of the bitcoin ETF, and hoped soon to see such products on the market:

«ETF providers and asset managers — our customers. They use futures products to create exchange-traded funds, hedge structural projects. We definitely try to give them a similar strategy for bitcoin. We need to make sure clients have the tools of risk management necessary for the effective management of their risks»

We will remind, recently the former head of the Commission on urgent exchange trade (CFTC) and Christopher Giancarlo said that the launch of bitcoin futures on CME was a purposeful action of the administration of Donald trump, designed to eliminate the bubble on the cryptocurrency market.


To Fund the development of Grin has donated 50 bitcoins, produced in 2010

The developers of cryptocurrency Grin received an anonymous donation to the development Fund in the amount of 50 bitcoins (slightly less than $440 thousand). Coins produced in December 2010 and for nine years he lay motionless.

Representative Grin spoke with who asked to remain anonymous donor gave some of his statements. According to them, this is not the first donation anonymous, and it was like the developers spend a lot of money.

He expressed support for the project of anonymous currency, noting that the motives of the developers is not economic, but the main thing for them — technology and Protocol. It reminds him of 2009-2010.

«We saw your work and your ethics in relation to the project, what your interest is unselfish. This is what we now dostepem you these donations, so you can freely work on the Grin. Without economic dependency», — said the stranger.

The address from which you made the donation, the first transaction recorded on 1 December 2010, receive 50 mined BTC (coinbase transaction). The next action on the address — to send bitcoins Grin General Fund 11 Nov 2019. The Commission made 0.00077700 BTC (about $7).


Litecoin Creator Charlie Lee suggested that since the coins produced 9 years ago an anonymous donor Grin was himself Satoshi Nakamoto.

Recall that the launch of the core network cryptocurrency Grin, which is based on the Protocol MimbleWimble, was held in the beginning of the year. In July, the network was first planned hardwork.


More than 99% of all scriptactive on CoinMarketCap are illiquid

In July 2017 the number of cryptoclub on CoinMarketCap exceeded a thousand — then, against the background of rapid market growth, investors were advised to at least look at the whitepaper and the team, before parting with their money. Today it is a another market and the cost of virtually all altcoins dropped significantly (regardless of the team or technology).

This was largely due to the actions of regulators with respect to ICO and overestimation projects. Well-known analyst Willie Woo has prepared a schedule that shows which assets have today the largest amount:

In the list of Coinmarketcap 4978 coins. Here are the best 50 by volume. Below the top 40 even not considered, i.e. 4938 coins illiquid. Investors want liquidity at the entrance and liquidity on the yield. Very few coins have reliable liquidity, to be a good investment.

In other words, more than 99% of all scriptactive on CoinMarketCap are illiquid. Many of them are dead projects with no updates. Some commands still work, but very few want to sell them.

Tether is the obvious leader by volume, because it is the most popular steilcoom on the market. Bitcoin and ether took second and third place respectively. It is interesting that litecoin is located on the fourth place — despite the strong FUD (especially after halving) this Aldon is in the top for eight years.


Analyst told under what conditions the bitcoin price will rise to $1 million

The first cryptocurrency price will rise to $1 million, only if we overcome the «supercheapairplane,» said the cryptanalyst Marius from Landman. In his Twitter account, the expert noted that Bitcoin will succeed, because the rewards miners halve every four years.

«It will be impossible for Bitcoin to reach $1 million, not having the «supercheapairplaneti»…so get ready for her big growth. Currently it is hidden from the eye» — explained the analyst.

From Landman added that if the price of the first cryptocurrency to reach $1 million, this will significantly change the behavior of the market. According to experts, exchange rate Bitcoin to $20,000, which now seem unimaginable, will become insignificant.

In 2017, John McAfee predicted growth rate of the first cryptocurrency to $1 million In February 2019, he said its forecast, saying it will be 31 December of the following year. On 10 November, the former head of the crypto currency exchange BTCC Bobby Lee made a similar prediction. According to Lee, the value of Bitcoin will exceed $500 000 for 9 years.


The people’s Bank of China: information on the launch of digital yuan circulated scammers

The representatives of the people’s Bank of China (PBOC) stated that the digital yuan «is still in the stage of research and testing,» according to The Block.

The Central Bank stressed that the news about the digital currency of the Central Bank (CBDC) has already been released, are false.

«The NSC has not released the legal digital means of payment and did not authorize the trading platform to conduct operations», — said in a statement.

Some news agencies have published launch schedule CBDC, which is not true, according to representatives of the Department. NSC did not provide details about the current status of the project and did not specify a launch date, but said that the published statements in the mass media allegedly on behalf of the Central Bank can incorporate elements of fraudulent schemes.

In August, a senior NSC Mu Changchun said that a prototype of digital currency of China is ready after five years of development, but reports of the imminent launch of electronic yuan is not confirmed.

Also previously the CEO bitcoin exchange Kraken, Jesse Powell said that the launch of China’s digital currency will push US to take a similar step.


Founder of TRON confirmed the purchase of a stake in the bitcoin exchange Poloniex

Justin San, the founder of blockchain platforms TRON, confirmed that part of a group of investors that recently bought from Poloniex bitcoin startup Circle. He also has told about plans of cooperation with the exchange.

Circle acquired Poloniex in February 2018, reportedly for $400 million, planning to develop the business. However, the market share of the exchange fell from a peak of 60% in 2017 up to 1%.

In October it became known that Poloniex is separated from start-up, and a new operator will be the company Polo Digital Assets that will support «big investment group». The media has reported that Justin San involved in this group or even its head. Founder of TRON has denied the information, saying that he «buys nothing».

Now San has confirmed investment in Poloniex and announced a number of initiatives in partnership with the exchange. Among them are: listing TRON (TRX) on the platform and holding in the next few weeks airdrops for users. Also TRON will cooperate with Poloniex in the field of trading, but details not revealed.

Exchange has announced the listing of TRX, the coin is traded in pairs with bitcoin and stablename USDT and USDC.

Recall, Justin San paid a record $4 567 888 at a charity auction for the opportunity to have lunch with legendary investor Warren Buffett. The meeting was scheduled for July 25, but it was moved. The reason is called the problem of a dignity health. But some Chinese media said that the founder of TRON is under investigation and cannot leave China.

In September, San promised soon to call a new meeting date with Buffett.

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What to expect from hard forks Istanbul in Ethereum


Activation update Istanbul in the main Ethereum will happen at block number 9056000. Tentatively it will occur on December 4 this year. It is expected that this will be another step towards solving the main problems of Ethereum: scaling and high commissions. What will change in the work of Ethereum as hardwork Istanbul will affect the work of the projects launched on the basis of the second capitalization of cryptocurrency, understood DeCenter.

Why would Ethereum be updated

The main problem Ethereum is scalability: the network is already overcrowded and running at full capacity. The more popular the network, the less effective it becomes. In Ethereum transaction fees depends on the amount of spent resources («gas») and their value (price of gas). While the correction mechanism is only one — rising prices. Because of this, transactions are slower, and the cost of «gas» (Commission per transaction) increases. So, by September 2019, the cost of «gas» in Ethereum grew by 30 times — from $0.004 to $0.012, and the transaction value to us $0.3 (which is expensive for a large network). So if that does not solve the problem, sooner or later the developers will be forced to move to another blockchain.

Relatively slow and is not as effective as before, Ethereum is still considered as a universal blockchain, which allows you to create almost everything. However, other networks are beginning to emerge a new, more specialized solutions. Competitors — TRON, EOS, NEO and Steemit, TomoChain and Binance Chain — for a long time claim to the throne Ethereum. In its current form, Ethereum went into a technological dead end. To get out of it, developers have several years working to transition the network into a state of Ethereum 2.0.

Istanbul — a system-wide update of Ethereum that will change several aspects of network functionality, including the process of data storage, Protocol mining, and code execution. Hardwork will allow the network to become cheaper, faster and more scalable. Istanbul — the latest update in a series of Metropolis, while the next update will start the Berlin Ethereum 2.0.

When enable updating of Istanbul

Activation Istanbul was postponed several times: first on August 14, then on September 4 and then on October 16. And here the developers decided on a new date — 4 December.

It is worth noting that in January 2019 during the last system-wide updates Constantinople activation update mainnet postponed for a month because of a critical vulnerability discovered in less than 48 hours before the scheduled upgrade. Then 10% of miners are still separated from the main network, and the launch of Constantinople occurred simultaneously with the activation of the update St.Petersburg. In this connection, in case of unexpected problems developers set the spare activation date Istanbul on 8 January. One month should be enough to fix it.

Simultaneously with the major update will be activated upgrade EIP 2124 (Ethereum Improvement Proposal — a proposal to update the Ethereum) — the ID of the fork to check the compatibility of networks. It triggers the mechanism that determines through which version of software is running the network node. This will help the miners to choose the right blockchain — the one that supports most.

In September Istanbul was activated in a test network Ropsten. But due to the unexpectedly quick confirmation of blocks, some miners did not have time to update their software, and the network was divided into two chains.

What will change in code, Ethereum 4 Dec

The developers decided to activate Istanbul in two stages. December 4, kicks off the first of them, which will be launched six approved fundamental changes to the code, or EIP. They will reduce and optimize the cost of «gas» will allow the zcash for to be compatible with Ethereum, will protect the network from duplicate transactions.

In the first quarter of 2020 developers will translate the network algorithm of mining with PoW on ProgPoW (EIP-1057) and trigger changes in the Ethereum virtual machine. This should reduce the advantage of ASIC miners and solve the main problems of Ethereum.

Let us examine six of the innovations in the code, which will be launched on 4 December. Mostly technical changes to reduce the cost of «gas».

EIP-152: add Blake2 compression function F to pre-compile, optimize blockchain and implementation of relay and atomic-swap transaction between the zcash for and Ethereum.

EIP-1108: reduce the cost of precompiling (rebuild) «gas» that should increase privacy and scalability of Ethereum.

EIP-1344: add opcode ChainID. This will allow smart contracts to track the correct chain in the processing of signatures and prevent replay attacks between the different chains.

EIP-1884: increases the cost of computing (opcodes virtual machine, that is, instructions within the smart contracts) when referring to the blockchain for developers dApps.

EIP-2028: reducing the cost of «gas» Calldata 68 Gas by-byte to 16 bytes for Gas. Price calculations «supported by mathematical modelling and empirical assessments.» This will make a second decision level, increasing thus the throughput of the network and prove that the solution of zk-SNARKs and zk-STARKs (a kind of Zero Knowledge Protocol — the Protocol of the proof with zero disclosure that do not involve a direct exchange of passwords) is cheaper and more effective.

EIP-2200: rebalancing the cost of «gas» SSTORE to reflect changes in the cost of gas SLOAD (read from storage). This will change the calculation of the cost of storing data in EVM (virtual machine) and allow smart contracts to introduce new features including lock re-login and re-send multiple contracts.

Potential issues for the operation of smart contracts after activation EIP-1884

EIP-1884 provides for the increased cost of gas. This is the most controversial update of hard forks, which did not agree even part of leading developers. However, the need for its launch due to the fact that with the growth of some Ethereum smart contracts used in dApps, became too demanding. As the size of the blockchain has increased, the computational costs of obtaining data about the network status (such as account balances) also increased, and the price of «gas» remains the same — this has created an imbalance between the transaction price and resource consumption. This discrepancy creates a vulnerability for a number of attacks. To reduce the possibility of network congestion, EIP-1884 improves the price of «gas» three expensive, but cheap operations. This should prevent a spam attack and better balance the blocks.

The problem is that some smart contracts were written without regard to the fact that prices are «opcodes» can change. Accordingly, the proposed upgrade has attracted the attention and initiated debate in the Ethereum ecosystem.

A number of developers believes that the change rules of the game are thus unacceptable. For example, the programmer Parity Technologies Wei Tang expressed his concerns about possible problems with EIP-1884 in a series of tweets. He believes that it is fair in the current smart contracts use the current price of gas, and the next — is new. This is implemented by a function. However, such compatibility does not plan to start because of lack of time to develop. He notes that Istanbul is likely to violate a number of extensive contracts. It can be individual cases, but Tang’s concern is that the developers seem to believe that it is acceptable. «One of the reasons that Windows became popular, is backward compatibility…. You can run old operating systems on modern processors. Ethereum should not be the exception if we want him to have a bright future,» concluded Tang.

Activation EIP-1884 can also cause some of dApps can «break». For example, the cost of the operation SLOAD (read from storage) will increase from 200 to 800 «gas» for surgery. This would harm primarily two types of smart contacts, holding in store the complex data structures and actively using them; as well as contracts that had a choice — to calculate the value each time or calculate once and remember (now this strategy would be unprofitable).

Moreover, the EIP-1884 can break about 680 smart contracts, ethereum decentralized governing applications in networks of Aragon and Kyner Network, or raise prices for end users. Now their developers are working on support for the projects after upgrading.

The moderator of the meeting Ethereum Core Hudson Jameson agreed with the position of Tana, but advised the developers to take into account that the prices are «opcodes» may change in the future. Acne Buterin supported EIP-1884, noting that wish their price was even higher.

Will update on the price of ETH

Given the planned nature of most updates Ethereum, Istanbul, is not likely to impact significantly on the price of the coin network. At the same time, delays in the implementation of the road map often negatively affect the price of ETH. If this situation happens again, a coin can sink. However, even if the initial decline or stagnation in the long-term impact, the fork is likely to be positive due to improvements updates for scalability, cost and speed.

In February 2019 before waiting activation Constantinople and St.Petersburg in a few weeks the rate has increased from $105 to $157. At the same time for a few days until hard forks rate began to fall and recovered only at the beginning of April.

Of course, Istanbul will improve the attractiveness of Ethereum in the eyes of users. But it seems that while there are no prerequisites for a sharp increase in the price of ETH. ICO boom long gone, and the update on 4 December does not solve all the problems of the network. Much more interesting is to follow the price jumps on the eve of the long-awaited transition to Ethereum 2.0, expected early next year.

The most ambitious updates Ethereum is yet to come

Activation Ethereum 2.0 is planned for the first quarter of 2020. Adaptation can take 3 to 4 years, during which will simultaneously operate two networks. Buterin promises that existing apps will continue to work without modification. But developers should prepare for a rise in price of operations.

Hardwork will increase the network bandwidth up to 15,000 transactions per second, will reduce the transaction processing time, go to algorithm Proof-of-Stake (PoS) will reduce the fee and extend the functionality of the smart contracts. The transition to Ethereum 2.0 will solve the problems of security, decentralization and scalability, and reduce costs in 100 times. Update Dec — the necessary steps on the way to it.


Battle for Bitmain: What happens to one of the largest mining companies in the world

The largest mining company Bitmain has been the shock of corporate restructuring. On October 29 at the private will of the Board of Directors co-founder of Jihan Wu was dismissed from all posts of his business partner and co-founder of the company — Mikri Jean. Wu admitted that Bitmain was on the verge of bankruptcy, called Jean unreliable, and his ideas for the development of a startup — crazy. Now the entrepreneur is not allowed in the office, and employees forbidden to communicate with him. However, Jean says that he is ready to defend their rights in court and intends to return to the company as soon as possible. The abrupt dismissal of Jean happened just a week after Bitmain has applied for another attempt at an IPO in the United States. Why quarrel Wu and Jean, what are the chances of Jean to return to his post and is it true that Bitmain is on the verge of bankruptcy.

The background of the conflict

Mining company Bitmain was founded by Jihan Wu and Mikri Jean in 2013, in connection with which both became CEO of a startup. By 2018, the company has taken the position the world’s largest developer of applied integrated circuits (ASIC) for mining bitcoin, and its founders became the richest men in kryptomere. 2017 brought the company billions, but the last two years was not easy.

Jihan Wu and Mikri Jean. Source and Source.

In September 2018 Bitmain has applied for an IPO on the Hong Kong stock exchange, valuing the business at $3 billion and is hoping to raise as much as $14 to $18 billion. the Regulators of Hong Kong suggested that due to the lack of rules to regulate cryptoprotocol application is not approved. In November 2018 the company has a debt of $300 million before the chip maker TSMC. One of the reasons is the competition with nChain for control of bloccano Bitcoin Cash. Then Wu decided to rent power from bitcoin miners to Antpool, and pools for the extraction of BCH. Bitmain pay for the hash rate to BTC, and received the award in BCH. It turned out to be unprofitable — the company was losing several million a day. In addition, due to the bear market of unsold stocks of miners reached a billion.

Because debt in December 2018, the company laid off about half of their 3,000 employees. Later, the mining giant closed its offices in Israel and the Netherlands and has suspended production in Texas, where he was from 7,000 to 8,000 miners. In March 2019 the deadline for the IPO has expired, after which the company decided to apply for the new York stock exchange.

In may Bitmain has reduced its computing power by almost 88% from 2072 PH/s to 237.29 PH/s per month (now this figure stands at 344.89 PH/s). According to the calculations CoinDesk, the company can suspend the work until 130 000 AntMiner devices S9. The proportion of Beijing, the company in General Hasrat network of bitcoin fell tenfold — from 4% to 0.4%.

The media wrote a lot about short-sighted management policies of both the CEO and their tandem, predicted a grim finale. In November of last year there were rumors about the simultaneous resignation of Wu and Jean from the positions of CEOs for quarterly losses of $500 million and growing conflict between co-founders. In January 2019 Wu and Jean left their posts SEO, but left their shares of stock, and therefore the right to make strategic decisions. CEO appointed Haichao Wang, Jean became Chairman of the Board of Directors and Executive Director. In July of this year, Wu founded his own trading cryptopleura Matrixport. It seemed that the conflict the founders for a time subsided, but broke out with new force in November this year.

The unexpected ouster of Jean

October 29, at an emergency meeting of the company Cihan Wu said that their conflict with Mikri Jean dritsas 2015 and explained why he considers necessary to discharge its longtime partner from the management of Bitmain. All employees were sent a letter stating that they are forbidden to follow the instructions of the Jean under penalty of dismissal. He Wu again took the position of CEO.

Wu confirmed that their conflict with Jean escalated in December 2018 during a round of major layoffs. He noted the failure of the company: spending on «unnecessary and hasty investments in research projects, employment of hundreds of people without preliminary analysis». Wu insisted on the dismissals, and Jean had originally been firmly opposed. Wu and three other members of the Council tried to convince Jean. But he has not changed his point of view and tried to rally other senior and middle management — the majority supported him.

According to Wu, in December 2018 Jean tried to become the sole CEO, threatening to cancel the stock options anyone who will not support him. It didn’t work out, but both CEOS have agreed to resign.

Note also that among the Chinese media has been rumors that there may be evidence of theft of property of the company Mikri Jean — that allegedly gave the company’s assets to their friends. November 1, Jihan Wu denied this information.

Disagreements about the company’s development

During the emergency meeting, Wu called for the submission of Jean about the development of the company crazy. Chief among them is the doubling of investment in research on artificial intelligence, involving up to 300 new employees.

Wu believes it distracts from Bitmain mining, complicates the preparation of financial statements for IPO and the company has taken on responsibilities salaries and training of new staff. Wu also believes that AI is a business venture Bitmain, and to have the opportunity to invest, we need more money mining on your primary business.

Mistakes and missed opportunities in the development of Bitmain

According to Wu, because of the mistakes of the leadership at the end of last year Bitmain was on the verge of bankruptcy. The company would lose suppliers and partners, the price of bitcoin dropped to the then minimum. From Bitmain began to accumulate debts, but was saved only a rise in price of bitcoin.

Wu said that 2019 was a year of missed opportunities. Indeed, the major competing manufacturers Bitmain, including Canaan, WhatsMiner and InnoSilicon was able to increase sales after the market’s growth this year, and Bitmain — no. Meanwhile and Antpool, the flagship mining pools, Bitmain, ceded its longtime leadership position to competitors Poolin and F2Pool.

Are the actions of Wu?

Interesting, but it is not entirely clear, as Jean could fire, given that he is the Chairman of the Board of Directors and main shareholder.

According to the IPO filing in Hong Kong until December 2018 Jean was 36% of the stock Bitmain, Woo — 20.25%. Other major shareholders are Huashan GE (4.18%), Japan Zhao (6.26%) and ISWA Hu (4.18%), external companies Sequoia Capital China (2.7%), Richway Investment Limited (1.17%) and Sinovation (1.13%), and trust to motivate employees with 18.47%.

Preparation for IPO

The expulsion of Jean occurred on the background of the new Bitmain preparing to IPO. On 30 October it became known that the company has applied to the Commission on securities and exchange Commission (SEC) US. Financial support provided by Deutsche Bank, as a consultant hired by the former Chairman of the Nasdaq China Zheng Hua. It is not known how Bitmain wants to raise through IPO American. But, in June, according to Bloomberg, it’s about $300−$500 million. In the media there are rumors that the IPO was the cause of the escalation of the conflict between Wu and Jean is the second allegedly didn’t want to announce the low financial performance of the company.

Listing with the SEC is a feat — Bitmain subjected to the most severe test. Consideration of the application will take up to two months. It is noteworthy that on 28 October the main competitor of the company Canaan Creative has also filed an application for IPO in the US, assessing your business at $400 million.

Jean will fight for the return to the company

In an open letter published on his WeChat account, Jean stated that he had been removed from the company without his consent during a business trip and the news was a surprise to him. Now he has returned to Beijing, but, according to media reports, he was not allowed even to the office.

«Still I do not understand how those scenes in the TV show, where are your partners that you trust, «brothers», with whom you fought, they hit you in the back, can really happen in real life,» laments Jean.

Jean assured employees and shareholders Bitmain that will take all legal means in order to return to the company. «We want to reach the goal and take 90% of the market of manufacturers of miners! Our AI business can achieve a qualitative breakthrough: to bring in revenues of 100 million yuan (~$14.25 million) in 2019, 1 billion yuan (~$143 million) in 2020,» added Jean, confirming the commitment to the chosen course.

Bitmain is ready to IPO?

The story of Bitmain shows the instability of the mining companies and their business models under the influence of the market volatility and internal differences. Investors understand that the company miraculously survived last winter, and there is no guarantee that the next time she is lucky again. It is unclear whether the mining business in General to earn money in the future.

In the case of Bitmain situation is exacerbated by the conflict founders, who fanned strategic disputes to an ugly power struggle. This fight distracts the user from the drudgery of development and scale of the company. I hope that Bitmain will solve its own problems, and the SEC will not consider corporate disputes when deciding on its admission to the stock exchange. Now remains to be seen what the outcome of the conflict between Wu and Jean.

If Bitmain does not change course, he can repeat a recent negative experience WeWork, which opened its records in preparation for the IPO, and its highly inflated valuation has fallen sharply. With questionable prospects, with a serious decline in profits and management problems with Bitmain, the situation looks much worse.

Bitmain will have to work very hard to meet all industry standards. However, the company has already started to move in this direction. In September it launched a new platform «world map digital mining» (WDMM) helping individual miners to find a profitable farm. In October, the company completed the construction of a large mining center in Texas, with a capacity of 50 MW, planning to further increase it to 300 MW, which would make it the largest in the world. Last month, Bitmain has announced a new model ASIC miners series S17 with increased efficiency. Since November, the company announced salary increases for 80% of the staff and management reforms that give them greater flexibility in decision-making.

Sharing control Wu is also likely to benefit from Bitmain. The entrepreneur understands that companies need to focus on your core business and not be sprayed in various directions. If Bitmain miracle will be released to the stock exchange, this will pave the way for the rest of cryptomeria.


Binance Coin, Huobi Token and other digital coins from cryptocurrency exchanges

Almost all major trading platforms have launched their digital money on the properties they are more like securities, but it can be used for practical purposes. RBC Crypto.

In mid-November, the South Korean stock exchange Bithumb announced plans to release its own token on the blockchain Bithumb Chain. 300 million tokens will be distributed between the pools of incentives for users and network development. The company said that Aldon will be the means of payment of exchange fees, transaction fees, and rights to use the systems of the marketplace.

Other major stock exchanges already have their own tokens, some of them more successful and even are in the top 20 cryptocurrencies by market capitalization. Talk about the five most popular exchange coins.

BitMax Token

Private token cryptocurrency exchanges BitMax, which was launched in 2019, is designed exclusively for use on the platform. He does not give any property rights, promises to holders payments of dividends and so on. The main functions of BTMX: participate in the IEO projects at BitMax and the purchase of VIP membership at different levels, which gives a discount on transaction fees and daily limit increases BTMX for net sales.

At the moment the capitalization of the token is $55.5 million While its trading volumes — $3 million

OKEx Utility token

In January last year the exchange OKEx launched her own utilitarian token OKB, which based on the standard ERC-20. In the coming weeks will take place the launch of the core network of the blockchain OKChain, he transferred the coin company.

Now altcon presented not only in OKEx, but on Bitfinex. The project leaders promise that in the future, OKB will appear on other exchanges. As at other sites, to participate in IEO users should keep OKB in their accounts. The storage period is 15 days.

The market capitalization of the coins OKB at the moment — $66 million, Its trade volume reach $102 million.

Huobi Token

Private token exchange Huobi Pro is designed to reduce trading commissions and user participation in the IEO projects on the platform Huobi Prime. Also coin holders can participate in various programs votes.

Aldona capitalization is $934 million with a trade volume of $80 million.

KuCoin Shares

Cryptocurrency KuCoin Shares works on the same principle as coins from other exchanges. She was launched 2 September 2017, if you are using KSC you can get a discount on trading commissions. The token is suitable for all Ethereum-wallets as the coin standard ERC-20.

The coin must be kept in the account in order to be able to take part in the IEO. Crudely on the site are in the format of lottery users received a certain number of tickets, each of which you can buy new coins at $500.

Now the KCS capitalization is $99 million, and trading volume — $6 million

Binance Coin

The most successful exchange token launched in 2017, the company Binance. The coin is now BNB is among the ten largest digital money in terms of capitalization, it is primarily used by users to participate in IEO platform Binance Launchpad, and also to get discounts on trading commissions and other bonuses.

Binance Coin is one of the few coins that managed to update the historical maximum of cost after 2018. In early June, the price of the coin reached $39,3, whereas in January of last year, the rate at the peak was $23.

Now Aldon costs $22, its market capitalization currently stands at $3.3 billion While daily trading volumes are at a level of $240,7 million

The value of the exchange tokens depends on the success of the company, its policies and products. These assets are more similar to securities in its properties, than for cryptocurrencies.


The project DMarket released the 2.0 release of the product


DMarket, blockchain-draft trade in-game items, announced the official launch of version 2.0 Beta of the platform. One of the key updates DMarket version 2.0 is the integration with the gaming platform Steam. Now, keeping in-game items on Steam, can easily put them up for sale or trade on the platform DMarket. Today the turnover game content in quantitative terms, more than 60 million items per month. The annual turnover for trade in-game items is more than $10 billion, while having the potential to grow 45 — fold to $450 billion.

«Providing the opportunity to trade on DMarket items stored on Steam, we’ll bring the audience Skins.Cash — our successful child project. The key advantage Skins.Cash is that the site already has a few million active traders with accounts on Steam, says Vladimir Panchenko, CEO and founder of DMarket. — Version 2.0 no doubt will attract a large number of users, in particular, due to simple and transparent models of monetization. Now DMarket team is focused on the development of new functions of the marketplace, we finish working on the SDK for the integration of games created by Unity technologies, improving the functionality of the blockchain and prepare for gamers a lot of interesting pieces. All this increases the value of DMarket both for normal users and for our partners.»

DMarket 2.0 also includes an improved version of the Blockchain Explorer. The current version has been extended with the offline wallet, which significantly increases the degree of protection user from unauthorized access.

Earlier DMarket signed a partnership agreement with another gaming industry Unity Technologies. Unity has one of the largest game engines.

The partnership allows you to easily connect any game based on Unity technology, the blockchain DMarket for the virtual trade and exchange in-game assets. Moreover, players get the opportunity to tie your account to DMarket, to create an inventory of assets on the marketplace as well as buy or sell virtual content. In this case, all transactions are transparent to users.

«The partnership with DMarket allows you to seamlessly and securely tie the game in Unity and blockchain DMarket, making game assets more accessible for users,» says Peter O’reilly, head of the Asset Store at Unity Technologies, platform DMarket particularly appealing for Unity, since it is adapted to each individual game developer and has no impact on existing game balance or gameplay. Given that we aim at the solution of complex problems and the democratization of development, the partnership with DMarket will help our developers to achieve new successes».

DMarket developed API (Application Programming Interface) is a turnkey solution for the evaluation and monetization of any virtual item, be it armor, sword or crystals. The API enables the transfer on the blockchain DMarket-game items from any games created with Unity to send items to another user or return them to the game. Players can manipulate objects and move them from your game account on DMarket, while staying out of the game.

Also DMarket is the only blockchain marketplace, which have signed agreements with game developers class triple-A — an informal term for a class of big-budget computer games. At the moment DMarket support such publishers games like 4A Games (Metro 2033, Metro: Last Light and Metro Exotus, ARKTIKA.1) and GSC Game World (S. T. A. L. K. E. R., Cossacs game series), Tatem Games (Carnivores, Vivesector, Cryostasis), KISS Ltd. (Street Racing Syndicate, Pixel Puzzles Ultimate, The Culling Of The Cows, Nosferatu: The Wrath of Malachi).

In addition, at the end of last year, the project entered into a partnership with the payment system Xsolla. The company is also a distributor and publisher of video games, provides developers with advanced tools to attract users and monetize.

Among other partners DMarket — Playkey, the first decentralized cloud-based gaming platform that allows users to run triple-A games on all popular devices regardless of their power.

We should also mention the specificity of DMarket licensee, which ended December 1, 2017: the presale for large investors was not provided by any discount, though the tokens DMarket invested in such investment monsters, such as Pantera Capital. Selling took place in two stages, during which the company raised $19 million.

At the expiration of three months after the ICO DMT-token was added to the listing only on small exchanges. Investors would expect a top listing on the stock exchanges. In the chat project in Telegram no token on the leading crypto-exchanges explain the legal nuances associated with the recent statements and actions of SEC. «For DMarket is extremely important to comply with regulations and provide a safe, secure and transparent business. All projects that operate in compliance with the legislation of the United States, are now in equal footing — they are not in a hurry and think over every action for 10 steps ahead to their SEC statements in no way concerned».

In this case, the delay and adaptation to new requirements at the start can help to avoid serious legal problems in the long run. In connection with the recent strengthening of regulations from the SEC, conscious business projects closely related to the positioning of its token — utility or security — as well as to create a real working product, not a project on paper. It does not hurry to solistice your token on the stock exchange and create artificial hype around it, and concentrate all forces on the product itself, there is a future, many experts believe of the stock market. However, they are in the minority. DMarket of a minority is just part of what should be a soothing remedy for the owners of the tokens platform.

Investors should just be patient, and these figures should help them: when the potential of the gaming market at $450 billion and the issued token amount of DMT in the amount of 56,921,773, even the conquest of 50% of the gaming economy will raise the token price to $3952.