Bitcoin’s Value Slips Back Toward 50% of Total Crypto Market

Bitcoin's  rising rate, or its share of the entire cryptocurrency market, is on the point of falling below 50% since seven months.

At press time, the world's biggest cryptocurrency accounts for 50.9% of their entire capitalization of the crypto market and fell as low as 50.54 on March 17, based on data from CoinMarketCap.

Earlier 2017, bitcoin's dominance speed was in excess of 70 percent, but it started to deflate as new cryptocurrencies were created and marketed to investors in initial coin offerings (ICOs), causing bitcoin's dominance rate to drop to a low of 32.48 percent on Jan. 13, 2018.

Ever since, Aug. 11 of this past year, nevertheless, bitcoin's share of this cryptocurrency marketplace hasn't fallen below 50 percent.

Having traded between $3,200 and $4,300 since Dec. 2018, bitcoin's current drop in market dominance can be attributed to a powerful performance from the wider altcoin market, constituted of all cryptocurrencies excluding bitcoin, rather than any substantial depreciation to its own market.

In the past 90 days , names like enjin (ENJ), binance coin (BNB) and litecoin (LTC) have seen significant price increases of 406, 181 and 97% respectively, according to statistics from Messari.

Because of this, the market capitalization of all cryptocurrencies excluding bitcoin has increased 33 percent since hitting a 2019 low of $51 billion on Feb. 6 into its existing worth of roughly $69 billion.

At precisely the exact same time period, bitcoin's market capitalization has also witnessed notable growth, but to a lesser extent compared to altcoin market. Since Feb. 6, bitcoin's market cap has increased from $59 billion into its present value of $71 billion -- a jump of 20 percent.

Bitcoin's decreasing dominance can be regarded as a sign the crypto markets are shifting into a"risk-on" environment where shareholders favor riskier resources, as altcoins are believed to be. The speed falling below 50 percent would be a greater sign of this kind of opinion coming to fruition.

As it stands, the entire capitalization of the wider cryptocurrency market records $140.6 billion, down 83 percent from its all-time high of $835 billion set on Jan. 7, 2018.

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Spanish Authorities Has Added 23 Forex and Cryptocurrency Companies to Warning List

The Spanish National Securities Market Commission has included 23 unapproved forex and cryptocurrency entities into its own warning list on Jan. 14.

One of the companies added to the list is Blonde Bear OÜ, also known as Black Parrot Ltd., which says to be a forex and cryptocurrency exchange operator but purportedly works in Spain with no permit.

The company, which worked on the trade111.com and tradex1.com domain names, has also been flagged from the Polish Financial Supervision Authority for working in Poland without the required license.

Another company added into the CNMV's warning record is Dax300, also known as Brown Fox Ltd., for operating in Spain with no permit. This business is involved in the trading of contracts for difference (CFD) tracking cryptocurrencies, commodities and foreign exchange.

Since Cointelegraph reported in December last year, Spain was one of the seven states which have signed a declaration calling for aid in the promotion of Distributed Ledger Technology's (DLT) usage in the European area.

Also in December 2018, Spanish renewable energy firm ACCIONA Energía declared it intended to set up blockchain to trace electricity production.

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Nasdaq Still Plans To Launch Bitcoin Contracts in 2019 Despite Crash

 

U.S. stock exchange operator Nasdaq is sticking with plans to establish bitcoin futures contracts early next year.

A Bloomberg report on Tuesday, citing"people knowledgeable about the matter," said that Nasdaq will probably still list its own bitcoin futures contracts Q1 2019, regardless of the weak crypto markets throughout the previous year. It is now working through regulatory issues with the Commodity Futures Trading Commission (CFTC), they added.

Back in February, the CFTC strengthened its review procedure for cryptocurrency futures products. As trades present new crypto products onto the market its new checklist pertaining to Designated Market Contracts and Derivatives Clearing Organizations was aimed to assist authorities.

The Nasdaq contracts have been said to be predicated on bitcoin's spot cost on"numerous" exchanges, and will be published by New York-based investment management company VanEck.

Nasdaq was first disclosed to be planning to supply bitcoin futures in November of last year.

The very first bitcoin futures contracts struck the markets almost a year ago, with offerings from CBOE and CME Group arriving as bitcoin prices peaked for their all-time large near $20,000 in December.

More lately, the Intercontinental Exchange (ICE) announced it is launching a delivered bitcoin futures product through a new exchange named Bakkt. That launch was postponed from a December 2018 launch date to January 2019 due to the "volume of interest" in the business and the"work needed to get all the pieces in place," the firm said.