CBX Weekly Newsletter // 25 September 2019
- Bitcoin and other #AltCoins break descending triangle
- Slow start on BAKKT’s Bitcoin Futures
- Vevue Initial Auction Offering Coming Soon on CBX
Bitcoin and other #AltCoins break descending triangle
Since Bitcoin reached the yearly high of $14K during the last days of June, and then $9K; the largest cryptocurrency by market capitalization has been trading within that range for the last weeks. As volatility dropped, experts were claiming a descending triangle pattern which indicates a bearish pattern.
Bitcoin during yesterday’s trading hours, started falling sharply, eventually, falling below $9K which was held as support during the previous months. BTC which is the most important cryptocurrency fell over 15% finding support around $7.8K.
Other altcoins such as EOS dropped over 30%, and ETH over 20%.
Bakkt futures have launched this week, adding further options for the industry to increase adoption and liquidity. However, the expectations were higher than the actual results and the number of contracts traded was not even comparable to the volume of other crypto exchanges.
Bitcoin’s dominance is at 70% and the overall market capitalization according to coinmarketcap.com is $220 Billion.
Slow start on BAKKT’s Bitcoin Futures
Bakkt’s physically-backed bitcoin futures started trading this past Monday and are having a bit of a slow start.
After the launch, the first futures contract changed hands at $10,115. The number of contracts in the first hour stood at just 5 in total. At press time over 70.
“I’m shocked there isn’t any volume,” said Lanre Sarumi, CEO of LevelTradingField. “I absolutely thought that the contract was going to fly out of the gate. Very odd.”
By that time, trading in the monthly contract totaled 66 bitcoin.
Some online commentators believe the slow start is a natural progression for regulated futures products.
What do you think? Is this beneficial for the industry or not?
Vevue Initial Auction Offering Coming Soon on CBX
We are delighted to announce an upcoming initial auction offering of VUE tokens. The VUE tokens will be auctioned off on the CBX auction platform. Please look forward to further announcements on the auction details and instructions coming soon.
About the Vevue project and VUE tokens:
Vevue is revolutionizing the way people interact with, distribute, watch, and monetize social media content. Built on a first of its kind multi-token economy allowing users to transact using Vpay, own and manage content using Media token, and cash in and out of the system using the USDC stablecoin, the Vevue app monetizes all forms of engagement and creates unlimited possibilities for users to earn money.
For investors, Vevue is an unparalleled opportunity to receive real-time gross revenues. A portion of gross revenue from the Vevue platform will be distributed daily to VUE holders. To claim revenue from the dividend pool, investors simply purchase VUE tokens and watch their profits grow in real-time.
About the Vevue team:
With over 60+ years of combined entrepreneurial and multi-industry (Fortune 100 / entertainment) experience, Vevue’s pioneering global team understands what it takes to build the future for creatives.
To learn more about Vevue visit Vevue.com
Reach out to the Vevue team at investor.relations@vevue.com
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