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Derivatives Marketplace IHS Markit Could Launch Crypto Index Product

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The world’s leading and the most diverse derivatives marketplace, IHS Markit, might launch a cryptocurrency index product. Currently, the plan isn’t in the pipeline yet but the intention came through a statement made by the company’s President of Financial Services, Adam Kansler, during its earnings calls on Jan. 13. The company executive also mentioned that the eagerness towards launching a crypto index has been sparked by the bullish wave of Bitcoin (BTC).

IHS Markit Could Launch Crypto Index Product

IHS Markit’s president, Adam Kansler said that the company has already made a strategic partnership with cryptocurrency firm Lukka. The leading derivatives marketplace is using Lukka for retrieving cryptocurrency pricing and referencing data.

READ  Lukka Launches New Library To Tackle Bitcoin Controversies

Kansler has mentioned that the firm uses Lukka to help in the valuation of their clients’ portfolios. That makes it enough for the derivatives marketplace to launch a crypto index with the help of Lukka. He adds:

“So it’s an area where we’ll continue to focus not just on the valuations side, but probably even moving into the index side in the near future as well.”

Meanwhile, Chairman and CEO of IHS Markit, Lance Uggla, revealed that millennial in his firm believe in launching cryptocurrency tools and products:

“Of course, we have every millennial that works for us thinks we should have a major pricing, data services, software, and participation around a marketplace that is really legitimizing itself. So we’ve got to take it seriously.”

IHS Markit Takes Notice Towards the Crypto Industry

Even though IHS Markit belongs from the world of the traditional financial sector, it has recently seemed to take notice of the cryptocurrency industry.

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In Nov. 2020, IHS Markit partnered with cryptocurrency firm Lukka for developing crypto data products for Wall Street. Meanwhile, a unit of S&P Global that has agreed to buy IHS Markit for $44 billion has already made plans to build a crypto index product with Lukka.

#Crypto data products #Crypto index product #Cryptocurrency data #Derivatives marketplace #IHS Markit #Lukka #S&P Global #Wall Street

Source: https://www.cryptoknowmics.com/news/derivatives-marketplace-ihs-markit-could-launch-crypto-index-product

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What’s this analyst’s take on XRP following Ethereum’s price trajectory

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2021 has been quite a favorable year for Ethereum. With a significant market dominance, the largest altcoin has witnessed an exponential surge in volumes traded over the past few months. 

While the alt’s price looked to be consolidating at the $3.3k mark, the $10k buzz has been doing the rounds for quite some time now, especially on crypto-Twitter. 

Source: Glassnode

As indicated in the above chart, the number of ETH addresses in profit, reached a new all-time high recently. Institutional investors could potentially lead ETH’s rally to $10k. Right from the beginning of 2021, Ethereum market has seen a fresh infusion of funds. As Ki-Young Ju, CEO of CryptoQuant, recently pointed out, the US institutional investors were buying ETH in bulk at Coinbase.

Fundstrat, an independent research firm, asserted that the entire crypto-economy was on track to hit the $5 trillion mark. 

Source: Funndstrat

Its latest report stated, 

“Ethereum’s market cap has risen to 30 percent of Bitcoin’s over recent weeks. During the last market cycle, Ethereum broke this level and headed as high as 80% of Bitcoins value.”

Source: Fundstrat

Citing Bitcoin’s price surge as precedent, popular analyst ‘Credible Crypto’ took to Twitter to state,

“Remember that time when BTC broke 20k and then flew to 60k in a matter of weeks? Well, now ETH wants to play follow the leader. 3k is just the start.”

In the case of XRP, the analyst stated that the digital asset would mirror the steps of Ethereum.

He also went on to reassert that should XRP retrace, he would buy the dip. He stated:

“Up nearly 60% from where my bids were filled earlier in the “ideal bid” region. Now pushing into H4 supply. Locking in some profits here and will reload if we get a dip. $XRP.”


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Source: https://ambcrypto.com/whats-this-analysts-take-on-xrp-following-ethereums-price-trajectory

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How Coinbase is Driving the Crypto Market to the Richest Fintech Hands

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Coinbase Listing May Boost Bitcoin to $70,000 - Bloomberg’s Chief Analyst Says

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Not every cryptocurrency proponent is a fan of the giant exchange platform Coinbase. But if sentiments are kept aside, it is crystal clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will ever know.

Between last year and this year, some of America’s biggest institutions have tapped the exchange to help it purchase cryptocurrencies. This was the case for Tesla. The $1.5 billion Bitcoin purchase made by the platform was largely possible due to Coinbase’s involvement. 

We also reported a while back that some of America’s top universities including Yale and Harvard, have made Coinbase their middleman, as they silently partake in the act of buying digital currencies in large numbers. Sometime last month, Social investment app Invstr teamed up with Coinbase to launch a trading feature that will allow U.S users to buy and sell digital currencies.

More recently, the leading American-based fine art auction house Sotheby has revealed it will be making a major entrance into the cryptocurrency market through Coinbase. The art place is set to launch a historic art auction in the week ahead and will accept bidders’ payments in Bitcoin and Ethereum. This is the first time the company is accepting cryptocurrencies, as it explains that its previous artwork saw over 3,000 bidders, forcing the platform to consider an alternative payment method: digital currency.

Why Coinbase’s relevance in the Crypto industry is unmatched

The case of Sotheby’s tapping Coinbase to serve as a middleman is a unique case. Had Coinbase not established itself as home to institutional platforms of many kinds, opportunities like these could’ve easily slipped past the industry’s net.

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While there are many other reliable exchanges in the U.S, Coinbase is one of the few ahead, in terms of popularity and diversity of services. This gives the platform an edge over others and places it in a position favorable to the cryptocurrency community as it is at least, likely to pop up as one of the top three platforms that fintech institutions interested in the cryptocurrency community could tap.

It is safe to imply Coinbase’s market value is directly tied to its branding. Because of how well coinbase has branded itself as a diverse platform, it is not surprising that it remains a top choice amongst investors. The result of this is largely reflected in its market value of nearly $100 billion.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/how-coinbase-is-driving-the-crypto-market-to-the-richest-fintech-hands/

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Caving To The Mania: Rapper Meek Mill Invests In Dogecoin As DOGE Continues To Smash Records

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Elon Musk's SNL Performance Could Send Dogecoin to Never-Before-Seen Levels

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Dogecoin is becoming the digital currency of the stars.

The cryptocurrency’s monstrous upsurge has attracted the attention of many A-list celebrities and business moguls, including singer Gene Simmons, rapper Snoop Dogg, adult entertainment star Mia Khalifa — and now American rapper Meek Mill.

The rapper told his 10.8 million-strong Twitter following that he had caved and purchased $50,000 worth of Dogecoin after getting tired of missing out.

Dogecoin was originally created as a parody in 2013. But after one of its co-founders exited from the project, the Shiba Inu-branded cryptocurrency continued growing and has ended up becoming a fan favorite.

It comes as no surprise that more business moguls and celebrities are jumping on the DOGE wagon. The cryptocurrency has been on a tear in recent months, thanks in large part to many campaigns on TikTok to try to push the price to $1. But in the past day, the DOGE price soared over 37%, reaching a fresh lifetime high above $0.69.

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Caving To The Mania: Rapper Meek Mill Invests In Dogecoin As DOGE Continues To Smash Records
DogeUSD Chart By TradingView

The pump followed a listing by multi-asset brokerage firm eToro. In the early hours of Tuesday, Winklevoss-owned Gemini exchange announced that it too would be listing Dogecoin on its platform, further fueling the coin’s ascent. 

With the face-melting rally, Dogecoin’s market capitalization has skyrocketed to $86.32 billion, making it the world’s fourth-biggest cryptocurrency. This means that the meme cryptocurrency has overtaken Ripple’s XRP.

It should be noted that this is not Meek Mill’s first crypto rodeo. In January, the Philadelphia rapper vocalized his support for bitcoin via his Twitter account, even following Elon Musk’s example and adding it to his bio.

Not Everyone Is Sold On Dogecoin

As aforementioned, Dogecoin’s list of well-known supporters has been growing at a rapid clip over the course of the past couple of months. But despite the out-of-this-world success, not all industry pundits are buying into the hype. 

For instance, CoinShares CEO Meltem Demirors told CNBC last month that Dogecoin is a bubble, adding that there is a reason her crypto investment firm has steered clear of the cryptocurrency. Bitcoin bull Anthony Pompliano has also revealed that he owns $0 worth of DOGE.

All in all, Dogecoin fans are anticipating some buzz to erupt from Elon Musk’s hosting of Saturday Night Live this weekend — subsequently taking their favourite cryptocurrency to the moon.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/caving-to-the-mania-rapper-meek-mill-invests-in-dogecoin-as-doge-continues-to-smash-records/

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