Crypto Tracker Reveals Wall Street Betting on Bitcoin (BTC) – Plus Ripple, XRP, Ethereum, Tron, EOS, Cardano
From new insight on the number of institutional bets on Bitcoin to a push to boost XRP liquidity from Ripple, here’s a look at some of the stories breaking in the world of crypto.
According to new data from Skew Markets, Wall Street traders are increasingly betting on a new Bitcoin rally.
The firm says 870 BTC is now net long. That number was 660 BTC last week – which represents a 30% increase in a matter of days.
Institutional longs at CME – one month high
Could we see a breakout soon > 1.5k BTC? pic.twitter.com/y9SmywwVE0
— skew (@skewdotcom) November 2, 2019
Despite the rise in BTC longs, crypto analyst Filbfilb says he believes Bitcoin will drop to $8,500 in the short term to fill a CME futures gap that was created when the markets closed at around $8,700 on October 25th and reopened at around $9,500.
Meanwhile, Bakkt’s physically-settled Bitcoin futures contracts are also on the rise, according to the Bakkt Volume Bot.
The data tracker reveals a sharp rise in the number of futures contracts on the platform over the past week.
Daily summary of Friday's Bakkt Bitcoin Monthly Futures:
📈 Traded contracts: 623 (+81%)
📅 Day before: 345
🚀 All time high: 1183
— Bakkt Volume Bot (@BakktBot) November 2, 2019
Ethereum, EOS, Tron
The dollar value of cryptocurrency flowing through Tron-based decentralized apps (DApps) is ahead of both EOS and Ethereum.
According to DappReview, $8.6 million worth of Tron (TRX) moved through DApps on the network in the last 24 hours, compared to $3.8 million worth of EOS and $3.7 million worth of Ethereum (ETH) on their respective networks.
#DApp Daily Report:
— DappReview (@dapp_review) November 3, 2019
Ripple and XRP
Ripple is looking for a new product manager to boost the XRP ecosystem.
According to a new job listing, Ripple is looking for someone based in the UK who can boost adoption of Ripple’s XRP-based cross-border payment solution called On-Demand Liquidity.
“This Product Manager will bring strong execution skills and creativity to the On Demand Liquidity team to wholly own novel new features of this product.
The role is best suited for someone with a background in order systems, trading technology and a passion for building products that are part of an ecosystem. You understand industry trends around digital assets and currency exchange and have the know how to turn those opportunities into feature sets that drive adoption of cross border payments with XRP.”
After dropping a surprise AMA on Saturday where the creator of Cardano explored the implications of Google’s quantum computing milestone, Charles Hoskinson just sat down for an interview with The Cryptoviser.
The interview covers Cardano’s ambassador program, the role of IOHK in the platform’s development, the blockchain’s current state of development and more.