The cryptocurrency market is trying to finish off the week on a positive note and, more importantly for Bitcoin, above the $4,000 level. For the month, Bitcoin is up around 5% and Ethereum is also set to finish in the green, albeit with a gain of only 1.5%. On the other hand, EOS is up nearly 20% and its most recent surge has been driven by a positive note from Weiss Crypto Ratings which stated that "EOS is the leading cryptocurrency challenging Ethereum, and Bitcoin is likely to become a popular store of value for savers and investors."
In related news, further inversion of the BTC futures curve has been observed heading into the futures expiration; as of 9.30 am GMT, the CME real-time index rate was trading at $4001 vs the June contract at $4020, while the Deribit June equivalent was trading at $3976.50. Overall, strong indications for another push higher, with $4,200 registering as a key resistance area.
Looking elsewhere, CoinDesk reported that a global study of 216 exchanges by the reg-tech startup Coinfirm found 69% of these businesses do not have “complete and transparent” know-your-customer (KYC) procedures. The study also found that only 26% of crypto exchanges had a “high” level of anti-money laundering (AML) procedures, such as ongoing transaction monitoring and in-house compliance staff experienced in AML.
In other news, cryptocurrency hedge fund Pantera Capital is close to reaching its funding goal for its third venture fund, having already raised $160 million. To date, Pantera says, Venture Fund III has already injected $38 million of capital in 11 portfolio companies, leading five of those rounds itself.
Finally, UMA, a smart contracts platform, is bringing the S&P 500 to the blockchain with the launch of a new ERC20 token that’ll represent ownership in the largest 500 companies in U.S. financial markets. MakerDAO, the firm behind stable coin DAI, is also involved in the new token.
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