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Basis: A New Algorithmic Stablecoin

When it comes to stablecoins, the first examples that usually come to mind are Tether, a dollar-backed token, or Maker’s DAI, an Ethereum-collateralized stablecoin. There are also some with no collateral at all. We’ve previously reported on Kowala, a mineable stablecoin. But among the most promising is Basis, which does not have any assets to back it, but instead an algorithm and three-token model that manages supply. Basis (originally called Basecoin) is the product of Intangible Labs, an American-based software company launched by three Princeton graduates. On June 20th, 2017, Intangible Labs released the whitepaper for Basis, outlining the company’s objectives and the methods by which the coin will maintain stability. In the white paper, Basis is described as a cryptocurrency whose tokens can be “robustly pegged to arbitrary assets or baskets of goods while remaining completely decentralized.” Basis’ central bank algorithm must have seemed like a worthy investment, as the startup was able to raise US $133 million in April of 2018. Per Basis, the investor group included Bain Capital Ventures, Google’s venture arm GV, Andreessen Horowitz, and Lightspeed Foundation Capital, among others. An Algorithmic Central Bank In its whitepaper, Basis states it uses “the same economic principles relied upon by central banks around the world.” These principles are based upon the Quantity Theory of Money, which states if the nominal amount of money has changed, the true value of the good will be the same. Basis believes it can manage inflation by increasing supply and selling extra stable coins when exchange rates are high, and buying them back when rates are lower. To do this, the Basis protocol identifies a target asset to which to peg its value, which could be a fiat currency or an index like the Consumer Price Index (CPI). The protocol then utilizes an oracle system to monitor exchange rates to determine the price of the coin. In order to manage supply, Basis uses a three token system comprised of the Basis token, bond tokens, and share tokens. The Basis token is the one that is actually pegged to USD, and serves as the primary medium of exchange. When the price of the Basis token is greater than US $1, new Basis tokens will be released into the market. These newly minted Basis tokens are first distributed to bond token holders, then whatever is left over is distributed to share token holders. If the price of the Basis token is less than US $1, bonds will be sold at an open auction, which removes Basis from circulation. The bonds, which are sold for less than a dollar,  “have the potential to be redeemed for exactly 1 Basis when Basis is created to expand supply.” Basis believes this model will “incentivize speculators” to buy bond tokens, in the hopes that their bond tokens will pay out in the future. Basis Requires New Speculators The three token system Basis will use to manage market fluctuations is highly dependent on user participation in the system. The crux, as fervent stablecoin opponent Preston Byrne states, is that “every bet being placed by every user of the system goes one way.” Up. If the three token system begins to fail and bond token issuance isn’t stabilizing prices, the whole system could fall into a downward demand spiral. In this instance, if buyers stop purchasing bonds and the bond queue builds up, it will take longer to redeem bond tokens for Basis tokens. The depressed bond price could effect newly minted bonds, and the new bonds would be pegged to lower and lower prices. Ultimately, this could create a downwards feedback loop: a death spiral. Basis claims it can mitigate the death spiral by implementing a bond price floor, a fixed price at which the protocol stops creating new bonds. Additionally, the team established a bond expiration timeframe, which is tentatively established at five years. It’s unclear how effective a five year expiration time will be, as the bonds may remain unpaid at their expiration. Can a continual demand of bond tokens maintain the price of the Basis tokens when that price is  below US $1? It may be that, without a constant influx of new bond purchasers, the algorithmic central bank model is unsustainable. One can only hope that Basis has thought through these potential demand-driven issues, and has all its bases covered.   The author is invested in Ethereum, which is mentioned in this article.    The post Basis: A New Algorithmic Stablecoin appeared first on Crypto Briefing.

After coaching managers and execs from companies like Google, Facebook, and HP, I've seen the most successful people use 3 psychological strategies on a daily basis

Melody Wilding is an executive coach and professor of human behavior who has worked with founders and chief executives across industries like technology, sports, entertainment, and food, and with people from companies like Google, Facebook, and HP. She's found that despite differences in their day-to-day demands, there are similarities among how leaders cope with the uncertainty and unique stressors of their jobs. They're optimistic but realistic, they tolerate ambiguity, and they're good at regulating their emotions. Senior executives face constant pressure. Whether it's the breakneck pace of their busy schedule or keeping everyone from shareholders to employees happy, the life of a leader can be extremely stressful. As an executive coach and human professor behavior, I have an inside view into the high performance habits of CEOs. I’ve worked with founders and chief executives across industries like technology, sports, entertainment, and food, and with people from companies like Google, Facebook, and HP. In my work, I also get to help leaders develop the mental strength they need to succeed. Despite differences in their day-to-day demands, I’ve observed similarities among how these leaders cope with the uncertainty and unique stressors of their job. Those who thrive under pressure build a certain psychological skill set — one that helps them bring out the best in themselves and in others, even when times get tough. 1. Realistic optimism The leaders I work with tend to have an optimistic explanatory style, meaning they view setbacks as temporary and solvable. They have a big vision and believe in their ability to create a positive future, but they’re not Pollyannaish, blind optimists. Instead, they’re realistic optimists. They recognize that a good attitude matters, but nevertheless, they carefully plan for potential obstacles, all without devolving into endless worry. Because they are highly self-aware, these leaders also know how to correct unhealthy thinking patterns that may drag them down. Read more: You probably won't find the skills most important to success on a résumé — here are 21 ways to build them 2. Ambiguity tolerance Change is the only constant in business and in life, which means that CEOs must become very skilled at dealing with uncertainty. This skill, known as ambiguity tolerance, involves befriending unpredictability and the unknown. Paradoxically, leaders must learn how to relinquish a need for control and sit with the discomfort that comes along with not always having the answers. The most effective CEOs know that acting prematurely without enough information can often steer them (and their entire company) in the wrong direction. 3. Emotion regulation When you get angry, how do you respond? When you’re disappointed in someone, do you let them know or hold resentment inside? The way you manage and express your feelings, or emotional regulation, is a crucial part of leadership and individual happiness. Responding to external triggers appropriately, instead of letting your emotions spiral out of control, is at the core of performing under pressure. CEOs who excel at this skill are able to calm themselves quickly (usually through mindfulness) and get back to a balanced state where they can think clearly and respond rationally. Rather than playing the victim, withdrawing, or angrily exploding at those around them, emotionally intelligent leaders share their feelings and communicate with the people around them. That doesn’t mean they become pushovers. Upholding your personal boundaries and holding other people accountable matters. It’s important to realize that none of these are inborn traits. They are skills that can be acquired at any point during your career and can benefit you even if you never reach the C-suite. Like any skills, realistic optimism, ambiguity tolerance, and emotion regulation can be learned over time through intentional practice and conscious effort. Melody Wilding is an executive coach, licensed social worker, and professor of Human Behavior at Hunter College. Her clients include high-performing managers and leaders at places like Google, Facebook, and HP. Sign up for your free guide, The 3-Step Workday Reset at melodywilding.comSEE ALSO: I'm a professor of human behavior, and I have some news for you about the 'narcissists' in your life Join the conversation about this story » NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO
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Ripple CEO: We’re Taking Over Swift on a Day-by-Day Basis

CoinSpeaker Ripple CEO: We’re Taking Over Swift on a Day-by-Day Basis Ripple has gained a pretty good reputation as a company that lowers the total cost of settlement by enabling banks to transact directly, instantly and with certainty of settlement. Its currency, XRP, has seen growth in value lately, which was partly due to a speculation regarding Ripple’s partnership with the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the world’s leading provider of secure financial messaging services. However, the rumours turned out to be faked. SWIFT categorically dismissed any talks between the two companies. Ripple CEO Brad Garlinghouse denied the rumours as well. He further critisized SWIFT’s methods. He said: “The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market. Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.” He continued: “SWIFT is owned by the banks and we’re trying to help the banks. We feel like blockchain technologies are a massive step forward in terms of how correspondent banking has historically worked. The technologies that banks use today – the SWIFT developed decades ago, it hasn’t really evolved.” In his interview to Bloomberg, Ripple’s CEO said that his company is able to gain customers at a fast rate relative to the market because financial firms are looking for faster, more modern technology than what is currently provided by SWIFT. Garlinghouse believes that Ripple has a significant advantage that will become more apparent in future,  with cryptos and blockchain gaining mainstream adoption. However, Ripple still sees SWIFT as a competitor. Traditionally, SWIFT has controlled the lion’s share of cross-border payments and remittances by offering a secure and trustworthy platform for banks and customers to send money internationally. Currently, SWIFT remains the primary means of large and small transfers across borders, at least in the countries it legally operates in. But with development of cryptocurrencies, the fintech company has faced some limitations and new competitors. For example, Ripple, which uses blockchain technology, can cut down transfer times and fees. The company has already partnered with the largest money transfer firms in the world, Moneygram and Western Union, for pilot programs to test the crypto-based technology in sending money abroad. Brad Garlinghouse is very optimistic about his company’s future. He believes that the technology exploited by Ripple will prevail in the long run and leave SWIFT obsolete. He said: “In that we now signed well over 100 banks – some of the largest SWIFT enabled banks in the world are now using Ripple’s technology.” Ripple’s CEO added: “What we’re doing and executing on a day-by-day basis is, in fact, taking over SWIFT.” Such a statement shows that Ripple has no intention to co-exist with SWIFT. Ripple CEO: We’re Taking Over Swift on a Day-by-Day Basis

Voyager Partners with Silver Cost Basis to Provide a Real-Time Crypto Tax Analysis

The world of crypto services is fast growing as more investors look for safe havens to store or transact their digital assets. Voyager Digital Holdings is among the new digital currency brokers whose operations have been licensed hence creating a legally safe environment for coin holders. The firm recently announced a partnership with Silver Cost Basis to improve its tax analysis segment for its clients. Silver Cost Basis is popular for their tech & business services to the financial market players. This milestone will enable Voyager to provide detailed real-time tax information to its clients. In doing so, the digital coin broker will keep their platform users updated on their unrealized profits or losses by leveraging Silver’s analytical tools. Voyager CEO, Steve Ehrlich, said that the move was indeed fundamental to the crypto service provider; “Voyager was developed to provide a single access point for investors to efficiently and securely manage all their crypto assets in one place. Silver’s cost basis and tax analysis tools add an important layer to our differentiated solutions and underscore our commitment to provide customers with the ability to trade crypto assets in a stable, safe and cost-efficient environment with the same confidence that they have come to expect from more established markets.” Ehrlich went on to further state that the new collaboration with Silver Cost basis will add to the existing platform features. Voyager’s crypto services include secure digital currency wallets, efficiency in transactions and provision of information about the blockchain & crypto space. Silver’s expertise in calculation of regulation related taxes has earned the company a table within the investments arena in the past decade. Gradually, the firm has ventured in the newly discovered crypto markets where it aims to scale its services to guide companies on innovation & compliance. As it stands, Silver Cost Basis can process all crypto related transactions including hard forks & airdrops. The regulatory-oriented firm applies the compliance requirements including the ones within crypto to offer the clients a comprehensive outlook about the taxes involved. A managing partner in Silver’s Product Strategy division by the name Neal Ruskin emphasized on the firm’s fundamental value; “By leveraging our production-proven securities cost basis capabilities, we are uniquely positioned to offer a scalable cryptocurrency cost basis processing. We address the significant recordkeeping burden taxpayers face today as well as the inevitable information reporting requirements to be imposed moving forward.” According to Voyager, the integration with Silver’s Cost basis services is scheduled for Q1 of 2019 although the firm will be releasing a trading app for its users in the course of 2018.
Bitcoin Exchange Guide

Crypto exchange Voyager to offer cost basis tax analysis and processing for users

CryptoNinjas Voyager Digital Holdings, a new and licensed commission-free crypto asset brokerage, today announced that it has teamed with Silver Cost Basis, a provider of business and technology solutions for the investment services industry,... Crypto exchange Voyager to offer cost basis tax analysis and processing for users
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US CFTC Plans to Seek Public Feedback to Better Understand Ethereum Blockchain

The latest report on Ethereum future contract unveiled that the Commodity Futures Trading Commission (CFTC) is looking for an in-depth analysis of Etherum blockchain. In order to improve the commission’s understanding of Ethereum and its underlying technology, the CFTC has announced its intention to publish a respective Request for Information (RFI) with the Federal Register. According to the statement: “The Commodity Futures Trading Commission (CFTC) is seeking public comment and feedback in order to better inform the Commission’s understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin, namely Ether and its use on the Ethereum Network.” The Commission has put up a total of 25 questions which include topics such as the impetus for developing Ether and the Ethereum Network, especially relative to Bitcoin; the use of the Ethereum network by the developer community; scalability challenges, if any, of the Ethereum network; proof of work and proof of stake; similarities and differences in the governance of Ethereum and bitcoin networks; introduction of derivative contracts on Ether; and security issues, among others. Notably, one question asks: “How would the introduction of derivative contracts on ether potentially change or modify the incentive structures that underlie a proof-of-stake model?” A number of questions following this go further into detail about how the ether market might impact a derivatives market built on top of it – or vice versa. The CFTC said the comments received will benefit LabCFTC, the CFTC’s Fintech initiative, and help to inform the Commission’s understanding of these emerging technologies.

Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market

Currently, when crypto believers generalize every Wall Street banker to be a Bitcoin critic, a celebrated hedge fund manager and former Goldman Sachs executive changed his perception. Mike Novogratz is a now a name beyond the mainstream finance, and perhaps among the only consistent voices speaking in favor of bitcoin even after its 80 percent-plus drop this year. The 54-year old financial veteran sat before Bloomberg’s Erik Schatzker recently to discuss how the crypto market crash impacted their ventures and how he remains confident about crypto’s long-term potential. Novogratz admitted being on the losing side, stating that his cryptocurrency merchant bank, dubbed Galaxy Digital Holdings Ltd, brought $136 million in losses to its investors when he was raising funds for it. Nevertheless, the crypto crash couldn’t put Galaxy beneath the grounds, and the project was still on its way to – at least – break-even in 2019, he explained. “We’re not nervous; we’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” Digital Gold in Making Analysts have continuously argued whether or not bitcoin has a use-case in the mainstream. A majority of them believes that the digital asset’s lower adoption make it an overvalued bubble similar to the infamous Tulipmania from the Dutch Golden age. Investors have entered bitcoin markets on a promise of getting rich quickly, and it is no more stable than a pyramid scheme, i.e., it is all horns but no product. Novogratz, on the other hand, interpreted bitcoin as a digital gold in the making, counterarguing that it is one of the only crypto assets that “gets to be a legal pyramid scheme.” Because, to him, it is the belief that denotes value to a store of value- nothing more, nothing less. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” reasoned Novogratz. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” As a metal, a store of value asset like gold does have plenty of use cases. Most notably, it is a good reflector of electromagnetic radiation such as radio and infrared rays, as well as visible light. Therefore, gold makes an ideal metal when it comes to protecting artificial satellites, astronauts’ helmets and in electronic warfare planes. But, in reality, only about 17% of the mined gold gets used in industrial applications – minus jewelry – while the rest gets stored inside vaults. That being said, the value of gold bullion itself is 83% speculation and 17% use case. Bitcoin, according to Novogratz, strictly possesses such characteristics. “The fact that David Swensen [Yale University’s chief investment officer] put an investment into Bitcoin, with his reputation on the line, his endowment on the line, tells you something. Some of the smartest people in the investing world think it’s a store of value,” Novogratz asserted. Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market was last modified: December 12th, 2018 by Davit BabayanThe post Unbreakable: Mike Novogratz Remains a Bitcoin Bull in a Bleeding Market appeared first on NewsBTC.

Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now

CoinSpeaker Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now A former partner at Goldman Sachs who is popularly called the “pretty face of cryptocurrency” Mike Novogratz, said that he is now the ugly face of the bust. Talking to Bloomberg, he pointed at SEC sanctions on certain ICOs and the uncertainty surrounding Bitcoin Cash’s hard fork as the reasons behind Bitcoin’s drastic fall from $6,200 to $3,400. However, Novogratz remains confident that Bitcoin will make a comeback. “I do believe Bitcoin is going to be digital gold. We have a business that we think can break even next year, if not make money. We’ve got plenty of cash to run the business for a long time. I keep telling my guys we’re a surfer getting ourselves in shape for when the next wave comes, and when the wave comes we’d better be the Laird Hamilton of crypto.” First, says Novogratz, they thought of crypto as of a bear market. “I went into it thinking in the long run crypto is going to be a real structural shift in the world and I can just hedge my portfolio. And to be fair, we did a really great job not losing money the first 60 percent down. What you forget is that a market like Bitcoin that’s down 84 percent has dropped 60 percent—and then another 60 percent. That’s where the pain happens. You start buying Ether again, because it’s only $400 after being at $1,300. But then it drops to $100, and you’ve lost 75 percent of your money. We haven’t done horribly in that context, but we’re still down.” He then explains what he thinks it’s next for crypto-world. He invested in a company called High Fidelity, which is a virtual world. “Me and you, we’ll sit down, and we’ll have virtual beers. People think I’m crazy when I say that, but Second Life does $500 million a year of GDP, real money traded back and forth in a virtual world with old technology. That’ll be the first use case where blockchain really works.” One of Novogratz ventures in the field of digital currency is the cryptocurrency bank Galaxy Digital LP which began trading back on August 1st, 2018. The bank was off to a very slippery start, losing 20 percent per share in a single day, which added to the company’s overall estimated losses of about $134 million in Q1 of 2018. At the time, the former Goldman Sachs partner once again said that he thinks “we’ve pretty much bottomed.” However, the market has plummeted since, as Bitcoin lost roughly another 60 percent of its value. Yet, Novogratz says that the situation is “not as dramatically as one would think.” Bitcoin Price Rise was Like a Drug High Addressing the fears surrounding Bitcoin he explains the price rise as a drug, “an instance of testosterone boiling over and its fall led to pessimism and rampant fear.” He said: “That was a drug, and I don’t say that lightly…there’s the pessimism, and the fear, and the “Oh my God, it’s going to zero.” But it’s not going to zero. We’re at the methadone clinic.” Novogratz had already been saying that the Bitcoin could hold its position till the end of the year and maybe rise, but then disaster struck. He thought Bitcoin, “was going to hold at $6,200…. but then Bitcoin Cash decided to fork again.” He also mentioned that ICO legislation by the SEC increased investor panic: “The SEC came out and sanctioned a few ICOs and said- oh, by the way, your investors can sue for damages. That scared the heck out of a lot of people.” Novogratz further added that “the ICO market is pretty much dead right now,” however, the regulatory body, “doesn’t want to kill this innovation.” Many crypto proponents of Bitcoin have equated the top crypto to digital gold, Novogratz is one among them, he said: “That means Bitcoin is the only one of the coins out there that gets to be a legal pyramid scheme. Just like gold is. All the gold ever mined in the history of the world fits in an Olympic-size swimming pool. You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is. While I believe in the underlying technology and believe in the crypto movement, when prices get stupid, I sell. A lot of my friends in crypto just couldn’t let go. They were saying that this is going to change the world. Revolutions don’t happen overnight. I’d be walking down the street, and people would come up to me wanting to take selfies. That’s when I started to think, OK, this is weird.” Always Cautious About Bitcoin as a Currency It’s more than obvious that he is still being cautious. A year ago, he was known as one of the biggest pro-bitcoin advocates but always saying that bitcoin will be difficult for governments to shut down. “I’ve got concern that if price movements go higher we’re going to get more regulation, but I think it’s hard to shut down. I don’t think that’s a probability. Banks will be slow to move into the industry,” Novogratz then said, adding that he “doesn’t see quick adoption of bitcoin as a currency.“ He also said that one of the big risks out there right now is that prices are moving so fast that regulators are going to get nervous. “I could legitimately see bitcoin go $13,000, $14,000, $20,000, $25,000 and see somebody balk.” He also warned on the fact that right now most regulators, including those in the U.S., are working with the digital currency system and are “intrigued” by it. Today, one thing where Novogratz remains firm is that he reiterates his view saying institutional entry is key for the Bitcoin price surge. Unless that happens, a sustainable price surge in Bitcoin seems a distant dream. Novogratz says that perhaps we can see a significant institutional money flow in the first half of next year, 2019. Steady Growth or Nuclear Winter for Crytocurrency? Despite a huge cryptocurrency market crash, VC billionaire Tim Draper believes, the value of Bitcoin will keep going higher in the upcoming years. Speaking to Thiel Macro’s Mike Green earlier this month, the billionaire said he believes virtual currencies will eventually overtake fiat currency, making up two-thirds of the world’s currency value. “Down the road, when we can easily spend, or invest, or do whatever we want with cryptocurrencies—they’re frictionless, they cost you less,” Draper told On the other hand, the billionaire investor and venture capitalist Jim Breyer believes that the promise offered by the technology is too great for it to be permanently buried by short-term market movements. Breyer kept saying that the technology is too big to be dismissed just because of a temporary bear market. He warned that “we’re close to a nuclear winter right now with cryptocurrency.” Mike Novogratz: Bitcoin Was a Drug and We’re at the Methadone Clinic Now

Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed

Anger continues to engulf cryptocurrency trading platform Cubits after executives suddenly announced the company was bankrupt, blocking all user funds. Cubits Owner: Funds Recovery ‘Unsuccessful’ In a press release dated December 11, Dooga Ltd., the UK-based entity trading as Cubits, claimed “collusion” which resulted in a “criminal act” involving the loss of €29 million ($33 million) in February 2018 had forced it to shut down. “Since February, Dooga has made every possible effort to recover these funds,” the release reads. Unfortunately – contrary to expectations – these efforts have been unsuccessful up until now. As Bitcoinist reported December 11, officials had told users on Twitter that Cubits was undergoing “maintenance” and would “be right back.” An identical message had appeared on the company’s website, but on Tuesday this changed to a 500 error message and the website went offline. A fresh tweet then confirmed Dooga had entered administration, leaving already frustrated users bewildered at the conflicting official information. Cubits had begun delaying withdrawals by weeks, some said, while another told Bitcoinist he was looking to involve law enforcement as a result of the company withholding his money. Payments Coordinator Endorses OneCoin At the same time, curious activity among senior management revealed the company’s payments coordinator Eloise Debono to be an advocate of OneCoin, a defunct Ponzi scheme, which has attracted warnings from multiple countries’ authorities over illicit practices. “Bitcoin can be bought and sold on many different exchanges, meaning you could be paying or receiving more or less than you should be,” she wrote in a bizarre article in 2016. OneCoin uses one centralised exchange called OneExchange, where there is a fixed rate for buying and selling. I personally think this is more secure and less volatile. COO Max Krupyshev, listed on LinkedIn as Cubits’ “head of crypto business,” left in November, weeks before users began to complain about withdrawal and funds access problems. Liquidator: Cubits Operator ‘Secure’ According to the company’s administrators, users will receive official correspondence about the debacle in the coming days. “Our goal is to achieve the best outcome for creditors generally at the earliest possible date,” Steve Parker from insolvency firm Opus Business Services Group commented. “Dooga’s current position is secure, investigations are proceeding and we will be writing to creditors, formally, this week.” What do you think about the ongoing Cubits debacle? Let us know in the comments below! Images courtesy of Shutterstock The post Cubits is Bankrupt and Withholding User Funds As OneCoin Ties Exposed appeared first on

Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing

Tezos [XTZ], the token which ranks on the 20th position on CoinMarketCap’s list, has been going through a rough patch, owing to the strong bear market. However, the time appears to have been changing for XTZ as it has been seen siding the bull. Source: CoinMarketCap According to CoinMarketCap, the coin was valued at $0.41 with a market cap of $252 million, at the time of press. The coin reported a 24-hour trade volume of $2 million and grew by 1.80% in an hour. The maximum trade volume of the coin was registered by, with a market cap of $510,404 with XTZ/USDT pair. It was followed by UEX on the second and third position. UEX on the second position registered a trading volume of $398,341 with XTZ/USDT pair and on the fourth position, the market cap was noted to be $394,993 with XTZ/BTC pair. Source: CoinMarketCap This comes after the coin was valued at its lowest at $0.31 recently, with a low market cap of $192 million. The trading volume of XTZ was reported to be $3 million. The rise in the coin’s prices is speculated due to getting listed on Huobi Global. Huobi released a statement informing the crypto world about this. It read: “Tezos (XTZ) will be launched on Huobi Global on December 12, 2018 (GMT+8). Deposits will be available from 14:30, December 12, 2018 (GMT+8). XTZ/BTC and XTZ/ETH trading will be available from 18:00, December 13, 2018 (GMT+8). Withdrawals will be available from 14:30, December 16, 2018 (GMT+8).” Even though the coin is struggling to make over $2 million in trading volume, it has reported an uptrend by 13% over 24 hours. Meanwhile, there have been constant talks about Tezos being listed on Coinbase over the past couple of months and many holders are hopeful about the same. On December 7, Coinbase released a list of potential cryptocurrency list, which may be a part of the new listing. This listing included tokens like Cardano [ADA], EOS [EOS], Stellar [XLM], XRP [XRP], and also Tezos [XTZ]. An update is awaited on Coinbase’s end about the final listing. Tezos seem to be upping its game and fighting the bear head-on. The post Tezos [XTZ] up by 13%; boost comes after Huobi Global teases listing appeared first on AMBCrypto.
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