#CryptoCorner Episode 398: #Bitcoin Passes $9000…Again, CME (NasdaqGS: $CME) Open Positions Surge, Riot (NasdaqGS: $RIOT) Releases April Production Update
#CryptoCorner
Episode 398: #Bitcoin Passes $9000…Again, CME (NasdaqGS: $CME) Open Positions
Surge, Riot (NasdaqGS: $RIOT) Releases April Production Update
Point Roberts, WA, Delta BC May 6, 2020
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Bitcoin Passes $9000…Again, CME (NasdaqGS: $CME) Open
Positions Surge, Riot (NasdaqGS: $RIOT) Releases April Production Update
Stocks discussed: (NasdaqGS:CME) (NasdaqGS:RIOT)
(CSE:BIGG) (CSE:BCFN)
We are midway
through the week and Bitcoin (BTC) is trading decidedly above $9,000.
According to data from CoinMarketCap, the flagship cryptocurrency
currently registers a trading price of about $9,240, which comes after days of
criss-crossing the $9,000 support level. CoinDesk reports that this coincides with a
surge in open positions (i.e., number of futures contracts outstanding) on the
Chicago Mercantile Exchange (NasdaqGS:CME). The piece quotes from a monthly
report from market analyst Arcane Research:
"The uptick in the CME open interest is indicative
of professional traders returning to the bitcoin market.”
Riot Blockchain,
Inc. (NasdaqGS:RIOT) has released its production update results for the
month of April 2020. Highlights include production of 108 newly mined bitcoins
following the full deployment of the company’s new Bitmain S17s, and the
purchasing of an additional 1,000 Bitmain Antminer S19 Pros expected to
increase its aggregate operating hash rate by 46 percent. Riot had also last
month announced a co-location mining services
contract with digital currency data centers operator Coinmint, LLC. Ashton
Soniat, CEO of Coinmint, explained:
"Coinmint has expanded our co-hosting services to
meet the needs of first-in-class cryptocurrency mining companies and we are
excited to partner with Riot Blockchain. With the upcoming halving, Coinmint's
low-cost electricity and 120MW of capacity will allow Riot to continue to grow
operations even as bitcoin rewards are reduced."
Blockchain
Intelligence Group (BIG), a subsidiary of BIGG Digital Assets Inc. (CSE:BIGG), has partnered with Blockchain Foundry (CSE:BCFN) “to deliver Stablecoin development
solutions utilizing BIG’s comprehensive suite of tools to provide trust and
real-time risk mitigation for stablecoin creation.” BIG President Lance Morginn
explained:
"Partnering with Blockchain Foundry is a great
opportunity for BIG to partner with a team that created one of the world’s
first asset token platforms. They are true leaders in innovation with a proven
delivery model that ensures customer success. I feel that BIG’s comprehensive
suite of tools will provide trusted and real-time risk mitigation for
stablecoin creators. We are excited to be seen again as the solution to remove
the allure of criminality from cryptocurrency. Our tools are part of the crypto
future and we are excited to be a part of it.”
Sam
Mowers, Investorideas
For investors following the sector Investor Ideas has a
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