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Nasdaq: Bitcoin Liquid Index [BLX] and Ethereum Liquid Index [ELX] to be added

The cryptocurrency market is being accepted by many every day and few financial institutions are also impressed by it and as per Bitcoin enthusiast, Mike Novogratz, there could be institutional money flowing in the cryptocurrency market by next year. While there are talks with the financial institutions, Nasdaq has offered to add two additional indexes tied to the cryptocurrency market, as per an alert on the equity exchange operator’s website. Created by Brave New Coin, Bitcoin Liquid Index [BLX] and the Ethereum Liquid Index [ELX], aim to “provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets,” informed the alert. As per The Block Crypto’s report, the indexes will capture data from different exchanges to provide a single price point for bitcoin [BTC] and Ethereum [ETH], to enable the traders to get in an out of a position. They will be made available to clients of Nasdaq’s GIDS data feed which also has 40,000 of Nasdaq indexes like Nasdaq 100 and Nasdaq Composite. The cryptocurrency tied indexes will go live at the end of the month. The alert added: “Both indices are calculated using a methodology that has been independently audited against key IOSCO principles. The BLX is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010. Likewise, the ELX has been calculated back to 2014.” Apart from operating for equity, options and futures market, Nasdaq is also known for providing trading and market surveillance technology to seven cryptocurrency exchanges at least. Nasdaq has previously partnered with Symbiont, a crypto firm in order to offer white label solution to supports other exchanges to launch markets built on blockchain technology, reported the publication. Nasdaq also has been working towards its own bitcoin futures, whose launch date for the new market is still uncertain. The post Nasdaq: Bitcoin Liquid Index [BLX] and Ethereum Liquid Index [ELX] to be added appeared first on AMBCrypto.

Nasdaq Global Index Data ServiceSM (GIDS) to Add Bitcoin (BLX) and Ethereum (ELX) Liquid Index

Nasdaq Set To Add Bitcoin (BTC) and Ethereum (ETH) Indices To Global Data Service Nasdaq, one of the largest stock exchange operators in the financial world, has decided to add indices for Bitcoin (BTC) and Ethereum (ETH) to its global data service. The initiative is set to become a reality before the end of the month. This will be made via a partnership with Brave New Coin, a blockchain data company based in New Zealand, which will be responsible for indices. They will be called Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) and will offer the information in real-time using the feed from Brave New Coin. According to the announcement, these indices will offer reference rates for the price of 1 BTC and 1 ETH, which will be quoted in USD and refreshed every 30 seconds in order to always keep the clients informed. Nasdaq affirms that these two indices are very old and reliable. BLX has been used since 2010 and ELX since 2014. Nasdaq And The Crypto World Recently, Nasdaq has been turning its eyes to the crypto market, which includes investing in crypto startups. For instance, just last month, the company led a $20 million USD Series B funding round for Symbiont, a new blockchain enterprise. The company has also partnered with VanEck, the company that is trying to make the Bitcoin exchange-traded fund (ETF) a reality, in order to bring a regulated crypto 2.0 future contract into its own market this year. However, not a lot of information about this deal has been sent to the media. Latest Coin Analysis: Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 13th)
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High ETH Prices Are (Finally) Good For Ethereum

Things are looking pretty bullish for Ethereum (ETH). The Ether price has surged by over ten percent in the past couple of days, and crossed above the psychological $200 barrier earlier this afternoon. That could be a strong buy signal for technical traders, as Crypto Briefing analysts reported yesterday.   Source: CoinMarketCap How High ETH Prices Harm Ethereum But what does a high Ether price mean for the smart contract network? There’s an obvious benefit for speculators and miners. But past experience has shown that anyone seeking to build dApps or just use the network could be severely hampered when markets turn bullish. That’s because the higher ETH prices get, the more expensive it is to use the platform. Users have to pay for everything they do on the network, from smart contract computations to token transfers. Rising gas fees could push end-users onto cheaper alternatives, like EOS or TRON, which offer similar functionality with lower fees. At least, that’s the received wisdom, which so far seems to be supported by experience. And it’s still technically true today: when it comes to using the ETH network, the downsides of a high Ether price tend to outweigh the advantages. Does Expensive ETH Mean A Stronger Network? However, Ethereum is (eventually) transitioning towards a Proof-of-Stake consensus model, which will require a financial commitment in order to participate. Instead of mining blocks through proof-of-work, block-producing nodes will have to stake ETH tokens as collateral in order to validate the network. That could have a significant impact on Ether’s market dynamics. Stakeholders will risk losing their hodlings if they fail to maintain connected and up-to-date node software. An expensive ETH would provide a strong disincentive to malicious or careless actors on the network. “If the chain is going to be secure, then there are inherent benefits from having high-valued Ethereum,” explained Nic Carter, Partner at Castle Island Ventures, in an interview with Laura Shin. A high Ether price, he added, would also provide “high-powered collateral, for DeFi applications for instance.”  Carter also pointed out that most networks have become too preoccupied with one or two “glamour metrics,” which may burnish their credentials but do not represent credible advantages. EOS, for example, has focused solely on scalability at the expense of decentralization. One tradeoff of those high speeds is that EOS relies on a small group of validators, which could present a systemic risk if they decided to collude or otherwise abuse their privileged positions. Ethereum’s key advantage is that it is the only platform with a vibrant community, Carter added, which comes with an “organic groundswell of usage and development.” Because of that organic usage, investors may be attracted to hold ETH for the long-term. “I think we noticed a little bit of a recalibration where initially [Ether] was computational gas,” Carter went on to say. “More recently, certain high-profile Ethereans have been saying, ‘well actually Ethereum itself is money.'” A strong Ether price could still push people off the network, but the community has been exceptionally resilient to market volatility and rival platforms over the past two years. The burgeoning DeFi space, and the added security after transitioning to Proof-of-Stake, could make high prices a net positive for the Ethereum network. The post High ETH Prices Are (Finally) Good For Ethereum appeared first on Crypto Briefing.
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