Nasdaq Lists Decentralized Finance Index For Blockchain

Nasdaq Lists Decentralized Finance Index For Blockchain
September 12, 2019

 

The cryptocurrency market remains range bound as there is no big news that could spark high volume trades. Bitcoin (BTC) continues to trade slightly above the $10,000 level. At the time of writing this article, Bitcoin was trading at $10,112. That gives the numero uno crypto a market cap of $181.50 billion. Ethereum (ETH) has lost 0.7% to trade at $178.25. Likewise, XRP, Ripple’s native cryptocurrency, has lost 1.8% to trade at $0.2534. Other altcoins which have lost in the past 24 hours include Litecoin (LTC-$69.28, -2%), EOS (EOS-$3.73, -0.1%), Cardano (ADA-$0.0447, -2.4%), Tron (TRX-$0.0147, -5.3%), Bitcoin Cash ($296.86, -2.0%), Huobi (HT-$4.14, 0.3%),  Ethereum Classic (ETC-$6.26, -3%), Binance Coin (BNB-$20.4, -5.8%), Dash (DASH-$82.01, -2.7%), and Cosmos (ATOM-$2.57, -0.8%). Altcoins which have appreciated in the past 24 hours include Monero (XMR-$72.20, 0.9%), Stellar (XLM-$0.0592, 1.4%), LEO (LEO – $1.06, 0.4%), OKB (OKB-$2.80, 2.5%) and IOTA (IOTA-$0.2373, 0.1%).

 

Government level initiatives

SEC Chairman claims there is still work to be done surrounding Bitcoin ETF

The US Securities and Exchange Commission (SEC) Chairman Jay Clayton has stated that even though considerable measures have been taken to resolve regulatory worries related to Bitcoin ETF, there is work left to be done.” Clayton further stated that the SEC’s queries pertaining to Bitcoin ETFs were not minor. He further said: “Given that they trade on largely unregulated exchanges […] how can we be sure that those prices aren’t subject to significant manipulation? Now progress is being made, but people needed to answer those hard questions for us to be comfortable that this was the appropriate type of product.”

Clayton has earlier stated that the commission was doing the necessary work for launching Bitcoin ETFs for investors in the US, but stressed the need for safety in regulated markets. Clayton said: “We’re engaging on this, but there are a couple of things about it that we need to feel comfortable with. The first is custody: custody is a long-standing requirement in our markets, and if you say you have something you really have it.”

 

Private sector initiatives

Amazon Web Services launches Amazon quantum ledger database

Amazon Web Services, the cloud service provider of e-commerce giant Amazon.com, has unveiled Amazon quantum ledger database (QLDB) for its clients. Amazon’s QLBD is a unique class of database that offers a transparent, tamper-proof and cryptographically confirmable transaction record retained by a credible central authority.

Amazon QLBD removes the need to engage in the complicated development effort of creating applications similar to a ledger or depend on the ability of blockchain infrastructure.

Shawn Bice, VP at Amazon Web Services, revealed that AWS has been utilizing a version of Amazon QLDB for several years to save data for some of its crucial systems and has gained from the facility to study unalterable history of modifications.

Bice further stated: “Today, we are proud to announce Amazon QLDB, offering customers a fully managed service that provides the same ledger capabilities, along with the ability to cryptographically verify data integrity. We are excited to see customers streamline their operations and enhance their customer and partner experiences by using Amazon QLDB.”

 

Power Ledger presents its first testing of P2P energy trading system

Power Ledger, a blockchain energy startup in Australia, has unveiled its first testing of peer-to-peer (P2P) energy trading system in rural regions. By launching the pilot program outside a city in Western Australia, the firm intends to assist commercial establishments and farmhouses enhance the capability of their power grid and bring down associated expenses.

In particular, Power Ledger’s blockchain P2P platform intends to permit those sites to generate revenue from the additional solar energy, while prevailing tariffs offer no financial relief to those who send in unused solar power to the energy grid.

Furthermore, David Martin, managing director and co-founder of Power Ledger, pointed out that the prevailing energy system is dependent on huge power stations that transmit energy to some clients sited far away.

 

Miscellaneous

Nasdaq presents Defix – a blockchain decentralized finance index

Prominent US stock exchange Nasdaq has launched a blockchain decentralized finance index called Defix (DEFX). The launch of the index was telecast live by Exante, a brokerage firm. Exante introduced its Bitcoin (BTC) fund in 2012. Interestingly, since its inception, the fund has generated overall returns of 70,000%. Additionally, Exante also launched the XAI fund, which consists of major altcoins such as Ethereum Classic (ETC), Ether (ETH), XRP, Monero (XMR) and Zcash (ZEC).

The index also consists of native crypto of Proof-of-Work blockchain Amoveo (VEO), prediction market Augur (REP), decentralized exchange protocol 0x (ZRX) and also the token backing the DAI stable coin and MakerDAO (MKR).

Zack Hess, a leading developer of Amoveo, said: “[I am] glad to see increased awareness being brought to decentralized finance projects.”

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Richard W

Richard W

Richard is the guy who know everything there is about the financial industry, working in a top firm for over 15 years, he will give the lowdown on some of the biggest companies in the world


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