Bitcoin prices set a new record on Wednesday when the world’s most popular cryptocurrency soared over $11,000. Reuters reported NASDAQ Inc plans to offer new bitcoin futures contracts in 2018, which could accelerate mainstream business adoption on an unprecedented scale. The popular bitcoin exchange Coinbase was so overwhelmed with a rush of frenzied buyers that the platform was stalled for hours.
Hundreds of cryptocurrency experts and enthusiasts gathered at the Consensus: Invest conference in New York City on Tuesday, where several leading blockchain startups delivered news about major developments coming in 2018. Many experts believe the flash of rising prices matter less than the broader blockchain industry shift, including more public awareness, institutional adoption and government efforts to speed up lawful infrastructures.
The Boston-based fintech company Circle plans to launch an investment app in 2018, with secure storage, increased liquidity and a user-friendly interface for managing multiple cryptocurrencies. A screenshot of the upcoming app showed bitcoin, bitcoin cash, XRP, litecoin and ethereum. Dan Matuszewski, Circle’s head of trading, told conference goers average trading transactions now exceed $1 million as overall growth continues to skyrocket. As bitcoin rises, other cryptocurrencies continue to climb as well.
That same Tuesday Michael Arrington, the founder and former editor-in-chief of TechCrunch, announced his plan to launch a $100 million cryptocurrency hedge fund called Arrington XRP Capital. “The fund has commitments for over $50 million so far, and we plan to begin trading in the next few weeks,” Arrington wrote in a blog post. The fund will be denominated in XRP, which he estimates has a global market cap of $27 billion. According to CoinMarketCap, the token’s global cap is closer to $10.7 billion. However, there are many factors at play when it comes to the future of XRP…. see more