Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $9,217.84 (+0.27%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $239.45 (+0.4%), while XRP has jumped by 0.24% and is now trading at $0.197.
The crypto derivatives platform has recently announced the launch of Bitcoin options trading. This new tool will start to be available on the platform before the end of this quarter. According to Decrypt, each contract will be equivalent to 0.001 BTCs. Huobi Futures will charge trading and delivery fees.
Huobi Futures is one of the leading platforms in the Bitcoin futures market. According to Skew, the trading volume of this instrument at Huobi Futures has risen over the past day to $1.9B. In terms of open interest, the exchange ranks third with $0.56B after OKEx ($0.8B) and Binance ($0.9B).
Crypto broker Voyager Digital, which is listed on the Canadian Stock Exchange, has reported an unaudited revenue of $1.1M for the current fiscal year. Compared to the previous period, the company's revenue has increased almost 13-fold.
Voyager Digital is registered with the Financial Crimes Enforcement Network (FinCEN) and offers commission-free digital asset trading. During the last quarter of 2019, the company's revenue grew by 701% compared to the same period in 2018.
The broker has also recorded a 750% increase in the number of users compared to the previous fiscal year. During the same period, the principal value traded grew from $20M to $165M.
FxPro's team of analysts say:
"Bitcoin is trading at around $9,200, remaining in a long-term sideways trend with a trading volume of approximately $16B. FTX's small capitalization altcoin index has recorded an increase of 144%, almost double that of Bitcoin. This means it does not matter how popular Bitcoin is, as small cap cryptos continue to attract the attention of small investors, who are buying them hoping to find a new 'unicorn.'
In addition to small cap cryptos, Ethereum is emerging as a serious competitor to Bitcoin. According to Messari, the growth in the number of Ethereum active wallets is several times that of Bitcoin with a 118% growth since the beginning of the year. Demand from the DeFi sector is becoming the next engine of growth, creating the basis for buying tokens not only for speculative purposes. All this is preventing the reference crypto from surpassing the $10,000 barrier. The overwhelmingly speculative interest is allowing altcoins to compete with the reference crypto, which is still waiting for triggers from the traditional stock market."
According to CoinMarketCap’s ranking, 6 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $272,407,065,613.
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