Summary:
- A large commercial Nigerian bank threats to shut down a number of cryptocurrency-related accounts without explanation
- China revises its cryptocurrency ranking
- NASDAQ plans to launch a Bitcoin futures market as soon as the next year
Wednesday is another day bringing some increases in the cryptocurrency market. The leaders of today’s trading are Ethereum Classic (ETHERCLASSSIC on xStation5) and Litecoin (LITECOIN on xStation5) gaining 9-11%. Bitcoin (BITCOIN on xStation5) has also risen but at a less impressive pace gaining around 4.5%. The capitalization of the whole market bounced off the $120 billion mark yesterday, and now it sits a notch above $130 billion.
The capitalization of the cryptocurrency market touched $120 billion yesterday. Source: Macrobond, XTB Research
Nigerian bank to close crypto accounts
A Nigerian commercial bank (Union Bank of Nigeria) headquartered in Lagos has threatened that it might shut down an undisclosed number of cryptocurrency-related account even without explanation. In its official statement it wrote that “In order to guarantee the security of our customers’ funds, Union Bank will monitor accounts being used for cryptocurrency transactions and may impose restrictions including closure of such accounts.” The 100-year old bank added that the steps it has taken does not meant that it necessarily suspects that some customers are violating anti-money laundering laws. Let us remind that the Nigerian central bank issued a statement in February saying that “virtual currencies are not legal tender in Nigeria”. Even as the bank has not announced it will for sure close any accounts, some crypto investors have become nervous being afraid of freezing their accounts.
Bitcoin is trading with moderate rises the second day in a row. Source: xStation5
Will Nasdaq introduce a Bitcoin futures market?
Nasdaq, the world’s second largest stock exchange, is planning to list Bitcoin futures next year, according to Bloomberg referring to two people familiar with this matter. As Bloomberg’s sources reported, Nasdaq has been working to receive a regulatory approval from the Commodities and Futures Trading Commission (CFTC) - the stock exchange wants to introduce a Bitcoin futures market in the first quarter of 2019. Let us recall that the New York Stock Exchange’s parent company has announced recently its Bitcoin futures market will probably start with a tiny delay on January 24, 2019. Today’s news may prove that reputable financial institutions keep an eye on cryptocurrencies despite a heavy sell-off seen over the recent weeks.
Ethereum, like its bigger crypto peer, has jumped. The cryptocurrency is fluctuating around $114 on Wednesday. Source: xStation5
Chinese crypto ranking updated
China’s Center for Information and Industry Development operating under the Ministry of Industry and Information Technology published the updated cryptocurrency ranking last week. The first place of crypto ranking is still occupied by EOS, and its dominance over other peers is noticeable. The cryptocurrency reached 152 pts in the ranking while Ethereum was ranked second getting 133.9 pts. Note that these two cryptocurrencies have been placing at the same places since June. What’s interesting, Bitcoin jumped from the 19th place seen previously to the 13th place this time, and Bitcoin Cash, whose hard fork has shaken the crypto market lately, was slightly downgraded to the 29th place in China’s ranking.
