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Kraken Daily Market Report for October 17 2020

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Overview


  • Total spot trading volume at $63.1 million, relatively low as it is a Saturday and Bitcoin returns were within +/- 50 points all day.
  • Total futures notional at $49.1 million.
  • Filecoin continues to trade in the top 10, beating out Litecoin and Polkadot.
  • Another coin in the top 10 was Waves, which had 7.8% returns over USD. Waves/USD and Waves/Eur were the 12th and 13th most traded pairs.

October 17, 2020 
 $63.1M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$11363. 
↑0.3% 
$29.9M
ETH 
$368.40 
↑0.7% 
$9.73M
USDT 
$1.0004 
↓0.04% 
$6.45M
LINK 
$10.619 
↑0.29% 
$2.97M
WAVES 
$3.1859 
↑7.8% 
$1.86M
BCH 
$245.20 
↓2.1% 
$1.76M
XLM 
$0.0817 
↑3.0% 
$1.7M
XRP 
$0.2406 
↑0.17% 
$1.45M
FIL 
$42.284 
↓4.6% 
$1.32M
XMR 
$120.38 
↓0.7% 
$1.3M
LTC 
$46.949 
↓1.5% 
$1.23M
DOT 
$3.9648 
↑1.2% 
$977K
USDC 
$1.0000 
↓0.02% 
$728K
ADA 
$0.1059 
↑1.6% 
$595K
ALGO 
$0.3133 
↑4.3% 
$577K
XTZ 
$2.1861 
↑0.8% 
$416K
ATOM 
$5.4763 
↑1.2% 
$368K
OMG 
$3.2543 
↑0.7% 
$299K
ZEC 
$62.965 
↑0.6% 
$274K
OXT 
$0.2470 
↓1.0% 
$220K
UNI 
$3.0609 
↑0.21% 
$210K
STORJ 
$0.4344 
↑1.2% 
$203K
MLN 
$18.409 
↓6.5% 
$203K
KAVA 
$2.0522 
↓2.3% 
$196K
EOS 
$2.5238 
↓0.7% 
$182K
SNX 
$3.9559 
↑0.8% 
$173K
DAI 
$1.0090 
↓0.04% 
$171K
CRV 
$0.4370 
↑1.5% 
$151K
YFI 
$14202. 
↑0.6% 
$146K
COMP 
$103.02 
↓0.5% 
$132K
SC 
$0.0028 
↑2.9% 
$126K
DASH 
$67.303 
↑1.8% 
$117K
TRX 
$0.0257 
↑0.07% 
$115K
PAXG 
$1912.8 
↑0.01% 
$110K
KSM 
$29.380 
↑4.6% 
$109K
XDG 
$0.0025 
↓0.8% 
$90.0K
BAT 
$0.2145 
↑3.6% 
$85.2K
ICX 
$0.3808 
↑3.4% 
$76.5K
QTUM 
$2.1813 
↑0.5% 
$65.9K
GNO 
$41.864 
↓3.7% 
$50.4K
REP 
$13.527 
↓0.15% 
$31.4K
KNC 
$0.9188 
↑2.3% 
$30.0K
ETC 
$5.5864 
↑0.4% 
$29.9K
NANO 
$0.8054 
↑1.0% 
$21.7K
BAL 
$13.789 
↑3.4% 
$19.4K
LSK 
$1.0694 
↑0.5% 
$19.0K
REPV2 
$13.564 
↓0.28% 
$4.41K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (October 17 2020)



Figure 2: Mid-size trading assets: (measured in USD) (October 17 2020)



Figure 3: Smallest trading assets: (measured in USD) (October 17 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (October 17 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (October 17 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (October 17 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (October 17 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6591/kraken-daily-market-report-for-october-17-2020/

Blockchain

Ripple Move to UK or Singapore Possible After Garlinghouse Praises Both Regulatory Authorities

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Ripple CEO Brad Garlinghouse pays tribute to the UK’s Financial Conduct Authority, as well as the Monetary Authority of Singapore.

In a tweet, Garlinghouse spoke highly of the way each regulatory authority oversees their respective territories. Going further, Garlinghouse said it’s no wonder that both the UK and Singapore have burgeoning crypto industries.

Ripple To Leave The U.S.?

The comments come as a follow on from Ripple’s threat to leave the U.S. over the lack of regulatory clarity.

News of this first gained widespread attention at the start of October, when Ripple CTO Chris Larsen voiced his increasing frustrations over the U.S.’s hostile stance towards the crypto industry.

Much of this frustration comes from, what Larsen perceives as, a regulatory body that favors Bitcoin and Ethereum. But, more than that, he said the upshot to all of this sees the U.S. far behind China in the “tech cold war“.

“Instead of pivoting to encourage U.S. innovation to keep up, they’ve done the opposite. They gave Bitcoin and Ethereum a pass, proof-of-work systems that benefit China, weirdly. But everything else is still in limbo, or worse, kind of regulated through enforcement.”

As a result, some observers have slammed Ripple over their threat to leave the U.S. But Garlinghouse was quick to defend the firm by deflecting blame on the Securities and Exchange Commission.

He then went on to say that “fleeing” the U.S. is not something he wants to do. However, given the state of the U.S. crypto landscape, he is forced to consider setting up elsewhere.

Some have suggested Ripple is “fleeing” the US, let me unequivocally say this is absolutely not the case. We’re a proud US-based company, and would like to stay here but a lack of regulatory clarity and level playing field is forcing us to evaluate other jurisdictions.

Fractured And Inconsistent Crypto Framework

To illustrate his point, Garlinghouse spoke about the lack of a single national crypto framework in the U.S.

The lack of a single national regulatory framework is putting US innovation and US companies at a significant disadvantage. All we’re asking for is a level playing field – if we need to move to another country to get that, then that’s the path we will have to take.

He added that eight different US regulatory bodies each hold a different view on the legal standing of crypto. And without a unified approach, conducting crypto business in the U.S. is a guessing game.

As well as the UK and Singapore, rumors have surfaced that Ripple is also considering Switzerland and Japan as possible destinations for a relocation.

XRP is currently trading in an ascending channel; breaking the $0.2550 level could see the start of a strong rally. Today, the price of XRP is down 3% to $0.2458.

Ripple XRP daily chart

Source: XRPUSDT on Tradingview.com

Source: https://www.newsbtc.com/news/ripple/ripple-move-to-uk-or-singapore-possible-after-garlinghouse-praises-both-regulatory-authorities/

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Why Should Traders and Investors Trade Cryptocurrencies With a CFD Broker Like Moneta Markets?

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Cryptocurrencies have risen in popularity at an exponential rate over the past few years, and while it’s somewhat romanticized by many because of their disconnection between banks and institutions, traders and investors are increasingly wanting the security of having regulatory protection when trading cryptos. As a regulated CFD broker, we’re able to offer them access to crypto markets via our crypto CFD products. We’ve seen a number of crypto exchanges hacked over the past several years with hundreds of millions of dollars worth of tokens stolen that are unable to ever be recovered, and by offering crypto CFDs we’re able to provide a safe and regulated environment for clients to capitalise on the price movements of cryptocurrencies.

Also, depending on the region, an increasing number of financial institutions block or refuse transactions from Crypto exchanges, so for an investor or trader wanting to gain exposure to the crypto markets it’s increasingly difficult to withdraw funds from an exchange. By offering crypto CFDs we are offering clients who want exposure to crypto markets a safe and secure environment to do so with no barriers for withdrawing their funds if and when they choose to.

Another advantage of trading crypto CFDs with Moneta Markets is that there’s the potential to profit regardless of the direction, so traders of all styles can take advantage of rising prices by trading long, as well as capitalising on falling prices by short selling. And, because Moneta Markets’ crypto CFDs are leveraged, traders are able to capitalise not only from smaller market movements, but increased market exposure with lower trading capital.

Moneta Markets also offer cryptocurrency deposits in addition to fiat, why was this introduced?

A key component of Moneta Markets’ brand proposition is that we’re a client-centric FinTech company. As such, it’s imperative that we are able to live up to that claim by meeting and exceeding the expectations of our clients when it comes to keeping up with new technologies, and even more so when it comes to a game-changing technology such as cryptocurrencies.

Cryptocurrencies are here to stay, they’re the future of financial transactions so it makes perfect sense to be able to offer our clients the option to fund their account using cryptos, and to be honest I’m quite surprised that we are one of the few CFD brokers to offer cryptocurrency as an option for deposits and withdrawals.

The demand to implement crypto account funding came not only from the appeal as their own tradable product, but many clients quite like the fact that they don’t need to disclose their bank account or credit card details to fund their trading account. Also, it’s just so accessible – there are no international borders when it comes to cryptocurrencies and costs are typically extremely low, if not zero.

At the end of the day, it all comes down to giving clients what they want, as well as making it as easy as possible for them to access the products that they want to trade.

You mentioned being client-centric, what does that mean to you?

Moneta Markets was created specifically to cater to traders who want to access a wide range of products through our next-generation WebTrader platform. Traders are tired of the clunky old MT4/MT5 model which has failed to evolve with the industry. By leveraging the best in web-based technology we’re able to offer traders access to global markets across any operating system and mobile device, wherever there’s an internet connection.

We worked tirelessly to create a product that is the direct result of client feedback received over the past 10+ years. As touched on above, offering crypto CFDs to trade as well as cryptocurrency funding was all part of this feedback, and as we continue to receive feedback whether related to introducing new crypto CFDs and funding methods via new tokens/coins, feedback surrounding our trading platform, or any other component of our business, we’ll continue to build upon what we offer, to create the perfect trading environment for traders of all instruments.

What does the future hold for Moneta Markets, and the industry at large?

We’re in the middle of a major transitional period in global markets, and it’s quite exciting. Many followers of cryptocurrency subscribe to the idea that it will eventually replace fiat currency, and while this idea also has its fair share of critics, it’s here to stay in some capacity and I think it would be foolish to think otherwise. While I don’t think we’ll see the death of fiat any time soon, especially when it comes to Forex and foreign exchange in general, it is important that we continue to make cryptocurrencies available for clients, and include cryptocurrency as an accepted method for account deposits and withdrawals.

For us as a broker, we are excited about how things are continually evolving within not only the crypto space but the FinTech sector, and as a company that thrives off innovation, we look forward to adapting with it. The CFD industry is fast-paced, and as a tech-driven company we’re thrilled to be a part of something as revolutionary as the ‘crypto era’ and we look forward to seeing the true potential of not only cryptocurrencies but blockchain technology as a whole.

Source: https://www.livebitcoinnews.com/why-should-traders-and-investors-trade-cryptocurrencies-with-a-cfd-broker-like-moneta-markets/

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EU Invests $1 Billion in Blockchain Tech and Artificial Intelligence

European UnionA vehicle of the European Union called the European Investment Fund (EIF) has signed six equity agreements with venture capital funds to support businesses under the EU’s InnovFin Artificial Intelligence…

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A vehicle of the European Union called the European Investment Fund (EIF) has signed six equity agreements with venture capital funds to support businesses under the EU’s InnovFin Artificial Intelligence and Blockchain initiative.

These agreements amount to more than $800 million available to support blockchain and AI startups across Europe through the equity funds in Austria, Finland, Germany, Luxembourg and the Netherlands.

The fund will target B2B software, data/analytics, the Internet of Things, smart cities, automation, language and machine learning, software as a service, fintech, cybersecurity and the future of work.

“It is a priority for Europe to be at the forefront of the development of artificial intelligence/blockchain technology in order to remain competitive and improve people’s lives, bringing major benefits to our society and economy,” EIF’s Chief Executive Alain Godard said before adding:

“Europe is home to a world-leading AI and blockchain research community with vibrant start-ups and a wide range of traditional industries. I am delighted that we can partner with the EC to invest in these six funds which target companies looking to adopt innovative processes and business models.”

This is part of a €535.4 billion European Fund for Strategic Investments (ESFI) which aims to support over 1.4 million start-ups and small and medium-sized enterprises across the European Union.

Some €50 billion is allocated to InnovFin Equity, which aims to invest in research and innovation across Europe.

Making this a huge package and one of the biggest state level investment and support in blockchain technology.

It comes as the race to grab the new opportunities unleashed by frontier tech, including space exploration, automation, blockchain, CRISP gene editing, machine learning and the bot economy, is intensifying especially between China and America.

Europe has now enter the fray and does so with half a trillion bazooka, some $1 billion just for this space.

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