Weekend Berminal Brief (8/19/2018): Ethereum Classic Goes Live On Coinbase And Binance Launches…

The State Of The Market: The total market cap went below $200 Billion for the first time in 2018, to a low of $192 Billion. However, towards the weekend, the recovery was swift and the market is now at $215 Billion. Most cryptocurrencies went down by more than 10% during the crash, except Bitcoin. Bitcoin (BTC) remained stable above $6,000 as Ethereum (ETH) touched a low of $250. The recovery was led by Ethereum, which is now back up at $302.

1) Ethereum Classic (ETC) is finally live on Coinbase and Coinbase Index Fund. The exchange took two months to test ETC after initially announcing support for it in June. Right after it went live on Thursday, the price of Ethereum Classic went up from $12 to $15. Ethereum Classic (ETC) is currently priced at $13.38, losing 3.87% in the last 24 hours (read more).

2) After months of teasing, Binance finally launched its first Fiat-to-Crypto exchange in Liechtenstein, in partnership with Liechtenstein Cryptoassets Exchange (LCX). Liechtenstein is a German-speaking country in Europe which shares its borders with Austria and Switzerland. Binance will provide technical support and infrastructure to run the exchange, while LCX will take care of compliance and other regulations (read more).

3) Fidelity Investments, which manages $2.4 Trillion worth assets began offering Bitcoin exposure to its clients through Bitcoin Exchange Traded Notes (ETN). The ETN is offered by XBT provider on Nasdaq on Fidelity’s OTC market against US Dollar. This is very different from ETFs because XBT buys and holds Bitcoin purchased by its clients (read more).

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