#CryptoCorner: Altcoins Outperform BTC, Bithumb Acquisition Plans May Fall Through, SIX Digital Exchange Organizes Backers for Initial Digital Offering
#CryptoCorner: Altcoins Outperform BTC, Bithumb
Acquisition Plans May Fall Through, SIX Digital Exchange Organizes Backers for
Initial Digital Offering
Point Roberts, WA, Delta BC September 30,
2019 - Investorideas.com, a leader in crypto and blockchain investing news
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Volatility in the
crypto market has abated somewhat over the weekend with Monday morning trading
prices largely in the green, according to data from CoinMarketCap. Bitcoin (BTC), though still
comfortably the market dominator and accounting for more than 67 percent of the
market share, has grown noticeably less than several altcoins. While Bitcoin
has seen 1.5 percent growth in the last 24 hours, leading altcoins Ether (ETH), XRP and Bitcoin Cash (BCH) have seen growth
of 4.2 percent, 7.9 percent and 5.6 percent, respectively. Meanwhile, despite
dipping below its current $8K support level earlier this morning, Bitcoin is
currently trading for about $8,175.
The
Korea Herald
reports that a deal that would see Singapore-based fintech company BK Global
Consortium buy a stake in South Korea’s biggest crypto exchange Bithumb for
$333 million USD, could fall through. BK made a downpayment of $100 million
last year to Bithumb majority owner BTC Holdings, but has since extended the
payment deadline twice. The latest deadline expires today, but BK investor Cho
Yoon-hyeong of electronics manufacturer Cornerstone, said today:
“The deal is proceeding smoothly, and we’re working on
details with BTC Holdings.”
Swiss stock
exchange SIX Group’s blockchain-based unit SIX Digital Exchange (SDX) has put
together a global consortium of financial institutions to back its initial
digital offering (IDO). The head of SDX, Thomas Kindler, told CoinDesk:
“We are not just looking to Abu Dhabi sovereign wealth
fund to give us money. We are looking at our clients to invest, but at the same
time commit business and help us validate what we built and get it off the
ground. The key focus is not money; it’s money linked to business and
validation of the business model.”
The IDO is expected
to launch in the middle of 2020, and will resemble a traditional IPO with SDX
security tokens taking the place of shares.
According to a blog
post
published today, Ripple has expanded its European operations into Iceland. This
move was facilitated by Ripple’s acquisition of Icelandic crypto trading firm
Algrim. Algrim CEO Dadi Armannsson commented:
“The decision to join the Ripple team was a natural fit
— both companies share a vision to enable widespread adoption of digital assets
and blockchain technology, which aligns directly with what we’ve been working
towards for the past several years. We are big believers in XRP and the XRP
Ledger, and eager to help build the future of payments at Ripple.”
Sam Mowers,
Investorideas
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