Market Update 1.24.19 – Citigroup and Nasdaq Investing in Symbiont.io Inc.
Citigroup and Nasdaq Investing in Symbiont.io Inc.
According to mainstream media reports, Citigroup and Nasdaq are a part of a group of companies that have invested in Symbiont.io Inc. According to news reports Galaxy Digital Holdings, Mike Novogratz’s cryptocurrency merchant bank is also another investor. In total, these firms are investing $20 million in this startup.
Symbiont.io has developed a smart contract and Blockchain platform focused on capital markets. This new platform will reportedly allow financial institutions to verify as well as share data. Users will also be able to use smart contracts to speed up settlements for loans and also make mortgage bond markets more efficient.
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CBOE Withdraws BTC ETF Application
CBOE’s BZX Exchange has withdrawn its application for a change of rule with the US SEC (Securities and Exchange Commission). If this application had been approved, it would have cleared the way for a Bitcoin (BTC) ETF (exchange traded fund), backed by SolidX and VanEck, to be launched.
This proposal had been filed in June of 2018, where SolidX and VanEck had entered a partnership to launch a physically-backed exchange traded fund. So far, all other ETF proposals have based their applications on Bitcoin futures contracts rather than the price of BTC. While no explanation was given for why CBOE withdrew its application, speculation is rife that it is because of the ongoing shutdown in the US government.
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New Hampshire Considering Legalizing Payments in BTC
The US state of New Hampshire is contemplating a bill which, if passed, would legalize Bitcoin as a payment option for government fees and taxes. This bill has been endorsed by Republicans Michael Yakubovich and Dennis Acton. New Hampshire has been trying to legalize this type of payment since 2015.
The bill, currently coded NH HB470, is being passed through the various chambers of the local state government. A public hearing introducing the bill also took place on January 23. A government sub-committee is scheduled to examine the bill on January 29, and the final decision is expected to be given on March 14. The bill explains that an implementation plan needs to be created by the State Treasurer so that the state can accept BTC payments.
Read more here.
Total Market Cap: Jan 24
The downslide of the cryptocurrency market continues with its capitalization down to $119.45 billion. Trade volumes in the market are at $15.89 billion.
Bitcoin Price Analysis: Jan 24
The price of BTC has slipped by 0.64% today, and it’s trading at $3578.53 per token. Capitalization for the crypto is now at $62.61 billion and trade volumes are now $5.37 billion.
Ethereum Price Analysis: Jan 24
Down by 1.66% since yesterday, Ethereum is currently trading at a token price of $116.45. Capitalization for it is now $12.20 billion and trade volumes are $2.56 billion at the moment.
State of the Top 10 Cryptocurrencies: Jan 24
With the exception of Tron, which is up by 2.86% at this time, the top cryptocurrencies in the market are trading in the red, though once again, marginally. The biggest losers in trading today are Ethereum, down 1.66%, Stellar, down 1.65% and Bitcoin SV, down 1.50%.
- Bitcoin’s price is $3578.53, slipping 0.64%. Market valuation of the digital asset is $62.61 billion.
- Ripple’s price is $0.315548, slipping 0.77%. Market valuation of the digital asset is $12.05 billion.
- Ethereum’s price is $116.45, slipping 1.66%. Market valuation of the digital asset is $12.20 billion.
- Bitcoin Cash’s price is $128.78, slipping 0.90%. Market valuation of the digital asset is $2.26 billion.
- EOS’s price is $2.43, slipping 0.58%. Market valuation of the digital asset is $2.20 billion.
- Tether’s price is $1.01, slipping 0.12%. Market valuation of the digital asset is $2.03 billion.
- Stellar’s price is $0.101772, slipping 1.65%. Market valuation of the digital asset is $1.94 billion.
- Litecoin’s price is $31.65, slipping 0.31%. Market valuation of the digital asset is $1.90 billion.
- TRON’s price is $0.026875, gaining 2.86%. Market valuation of the digital asset is $1.79 billion.
- Bitcoin SV’s price is $74.45, slipping 1.50%. Market valuation of the digital asset is $1.30 billion.