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Wednesday, May 6, 2020

#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 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

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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

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