Market Update 5.01.19 – ErisX Launches Spot Market

| Publish date: 05/01/2019

Market News

ErisX Launches Spot Market

The crypto exchange based in Chicago called ErisX has officially revealed the public launch of its very own spot market. The announcement was made via press release. The spot exchange, in particular, is deemed to be the very first part of the company’s ongoing development of a single platform. The latter will be representing both regulated futures exchange and digital asset spot.

Just after the aforementioned announcement, ErisX decide to enable the support of United States dollar trading pairs with a number of major cryptos. This includes Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC). Even more so, the company has already started discussion with several companies willing to trade on its platform, although it did not reveal their names.

Read the full report here.

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Crypto Data Company Raises $6 Million

Digital Assets Data, which is a digital currency-focused fintech and data company, has reportedly launched with at least $6 million raise courtesy of industry backers. These include, but not limited to, Morgan Creek Digital Assets and Digital Currency Group. Thanks to the financing, the company will now be able to develop a new institution-grade cryptocurrency data platform.

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The company’s very own CEO and co-founder named Mike Alfred is known for being the former co-founder and CEO of Brightscope. It is basically a financial information firm that offers data and ranking and services, all of which are designed for major asset managers, such as Fidelity, Goldman Sachs, and JPMorgan.

Apart from the aforementioned investors, the $6 million funding saw contributions from Galaxy Digital, Ritholtz Wealth Management CEO Joshua Brown, and Distributed Global, among many others.

Read the full report here.

Australia Goes After Crypto Traders

The tax agency of Australia called the Australian Tax Office (ATO) is going to contact crypto traders personally concerning tax issues. The move is deemed to be part of the government department’s new data collection scheme. The agency is expected to demand information on operations from local crypto exchanges.

From there, the agency will use the data collected to contact all traders involved. These traders, in particular, will be given at least 28 days to explain their operations as they relate to capital gains tax reporting.

Read the full report here.

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Total Market Cap: May 1

The trade volume reached $44.94 billion in the past 24 hours. As for the market capitalization, it reached $172.56 billion.

Bitcoin Price Analysis: May 1

Bitcoin remains to be the world’s leading cryptocurrency, especially after jumping 1.50% and registering a trade price of $5,326.56. Meanwhile, its trade volume and market capitalization registered $13.86 billion and $94.14 billion, respectively.

Ethereum Price Analysis: May 1

Ethereum follows BTC in the ranks, as it jumped 2.27%. As such, its trade price registered at $159.16. As for the trade volume of the crypto, it went to $6.14 billion, while its market cap reached $16.85 billion.

State of the Top 10 Cryptocurrencies: May 1

It appears that all cryptos in the top 10 list jumped in the past 24 hours. TRON, however, was removed from its 10th spot courtesy of Cardano.

  • Bitcoin’s market price jumped 1.50% to $5,326.56, with a market value of $14 billion.
  • Ethereum’s market price jumped 2.27% to $1579.16, and the market value is $16.85 billion.
  • XRP’s market price jumped 4.85% to $308458. The crypto’s market value is set at $12.96 billion.
  • Bitcoin Cash jumped in terms of market price at 5.70% to $255.86 in price, and as far as its market value is concerned, it is $4.54 billion.
  • Litecoin’s market price jumped 7.36% to $72.95, and market value topped $4.49 billion.
  • EOS’s market price jumped at 3.98% to $4.72, and the confirmed value in the market is $4.45 billion.
  • Binance Coin’s price in the market jumped 0.94% to $22.01, and its value in the market is $3.11 billion.
  • Tether jumped 0.71% to $1.01 in terms of market price, and market value is said to at $2.85 billion.
  • Stellar’s market price jumped 2.19% to $099315, and its value in the market is $1.90 billion.
  • Cardano removed TRON from the 10th spot after jumping 2.67%, resulting to a trade price of $0.067802 and a market value of $1.76 billion.

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