The rise in the price of Bitcoin in autumn and winter of 2017 gained considerable attention from the media and investors. After a strong fall and a lingering flatline, many expect that the capitalization of the cryptocurrency market will still slightly increase through inertia by the end of the year. One cannot say for sure that another bullrun is awaiting us, but nevertheless, the autumn-winter season promises to be saturated with fundamentally important events, and they will be no less heated than last year. Among the significant events expected on the cryptocurrency market is the launch of Bakkt, the entry of Rothschild’s IMMO, as well as the launch of the licensed DxExchange.
The launch of Bakkt cryptoplatform
Rumors about this platform began to appear in May. In early August, the Intercontinental Exchange (ICE), which is the owner of the New York Stock Exchange (NYSE), officially announced its plans to create a cryptocurrency platform – Bakkt. Not so long ago, the launch date was announced for December 12th.
The implementation of this idea will occur in conjunction with companies such as Microsoft, Starbucks, BCG (Boston Consulting Group) and other participants. The platform will allow its customers to buy, sell, and store digital assets in the global network. Bitcoin, as the most liquid cryptocurrency, will be the first in the listing on the new platform and will trade in pairs with fiat currencies. In addition, the Bakkt ecosystem will include applications for services and consumers, as well as solutions for the trade and storage of digital assets.
As Bakkt itself has declared officially on Twitter, the first products of the platform will be futures with a physical delivery of bitcoins, which can be purchased for three fiat currencies: US dollar, British pound and euro:
Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.— Bakkt (@Bakkt) September 25, 2018
There is an opinion that the launch of Bakkt can be fraught with a number of technological and financial risks, and the arrival of large players can lead to significant centralization and regulation on the cryptocurrency market.
Entry into the market of the Rothschild crypto-project – IMMO
A mysterious project, which has been spoken of since the spring of 2018, as the first cryptocurrency project of the Rothschild bankers dynasty. It has remained in the shadows for a long time. According to media reports, the project has begun an active phase of development, and is already attracting investment from private investors. Accounts of closed meetings with IMMO representatives and large businesses have already begun to come in from the financial capitals of the world. Most recently, IMMO Evangelists were spotted in Tokyo. 70 Japanese investors were reported to have attended a private IMMO event, seeking participating in IMMO Token Distribution during the Partner Sale stage.
The IMMO project managed to attract the attention of experts such as Vitalik Buterin (CEO Ethereum), Lon Wong (CEO NEM), Ryan Taylor (CEO Dash), Jimmy Song (the veteran Bitcoin Core developer), Tim Draper (CEO Draper VC), and other influential people in the crypto space. There are rumors that IMMO was discussed among employees of G20 finance ministries, whose conference was held this summer in Buenos Aires. IMMO was even suspected of manipulating the Tether course. This was announced by an anonymous employee of the Bitfinex cryptocurrency exchange. An authoritative economist, and now cryptocritic, Nouriel Roubini, shared on Twitter his personal opinion on this matter. He believes that Bitfinex linked Tether’s manipulations with the Rothschild’s IMMO “to cover their shady tracks”.
The project has created a community of crypto experts – the IMMO High1000. On the basis of the DAO model, which will develop and regulate the activities of the IMMO Foundation. It is impossible to deny the possible involvement in the project of some of the people listed above.
According to an official document of the project, the IMMO token has an Intrinsic Value and includes a diversified portfolio of valuable resources, the cost of which, over time, at least does not fall, but grows. According to some data, among the resources may be real estate, land, and also water resources. Resource management will take place according to the legal structure of the trust, which has not been implemented in the framework of the Blockchain technology, but has been tested for centuries.
Apparently, High1000 communication takes place through closed channels, meaning that information is only available to a narrow circle of people. But during the upcoming autumn-winter period, one can expect increased activity of the project, and, possibly, official statements.
Licensed Exchange DxExchange
DxExchange is a cryptocurrency exchange that is built on the NASDAQ infrastructure. DxEchange is licensed to operate in Estonia, Israel, and Cyprus, and also received two licenses from the Ministry of Economic Affairs and Communications of the country, which indicates a high degree of trust in the exchange, since Estonia is in the legal field of the European Union. To date, over 500 thousand users have already been registered on the exchange, but the exchange itself has not yet begun.
With the help of this exchange, institutional traders will be able to access a reliable and secure platform that will create special working conditions and connections via API. At the start, trading with more than 20 cryptocurrencies will be available.
As the CEO of DxExchange Daniel Skowronski states: “We are fully regulated, a number of Banks and Brokers have reached out on how they can connect directly to the exchange to give their clients access. Expectations are high, and we will not let down the 500,000 who believe in us, and the remaining members of the Crypto-community as well.”
DxExchange uses a subscription model and completely excludes the trading fee. To access the exchange you need to pay 10 euros per month.
Now it is not the most famous cryptocurrency exchange in the world. But their willingness to do new things and focus on legal approval can quickly put DxExchange on the same level as established crypto giants.
The cryptocurrency market is experiencing a protracted crisis, but nevertheless, every day the market is filled with new institutional players. Only time will tell how the emergence of large private investors and licensed centralized exchanges will affect the development of cryptocurrencies. But it can be said for sure that the development of regulation and the increased interest of such reputable bankers, such as the Rothschilds, are a signal to the upcoming mass adoption of cryptocurrencies and the Blockchain technology.
Hayden Schmit (31 years old) is a journalist from Berlin. He is experienced in Broadcast Journalism, which covered radio, television, mobile and digital journalism. Having experience in small editions, Hayden is now engaged in news and analytical articles on the topic of cryptocurrency. Hayden became interested in cryptocurrency in 2016, and now has good experience and knowledge in the field.]
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