QTUM Partners With Amazon Web Services And Tether Panic Continues

The State of The Market — October 18, 2018BTC: $6,540.86 (+0.12%)ETH: $206.24 (-0.43%)XRP: $0.46269 (-0.29%)

After the sudden surge on Monday and a correction after that, the market remains stable. In fact, the top 5 cryptocurrencies moved by less than 1% in the last 24 hours. Bitcoin remains stable at $6,500, while Ethereum continues to hold above $200.

In other news, U.K.-based global security firm G4S is developing a cryptocurrency custody solution. The firm, which typically provides security to events, prisons and other more traditional sectors, believes it has the solution to the risk of theft plaguing the cryptocurrency industry. Also, cryptocurrency compliance and investigative firm Chainalysis has partnered with Binance to fight Crypto money laundering. Chainalysis will deploy its real-time cryptocurrency monitoring program that uses pattern recognition, open source references, and complex algorithms to track and alert suspicious cryptocurrency transactions.

1) PoS- based smart contract blockchain Qtum has teamed up with Amazon Web Service (AWS) China division to broaden the hosting service’s blockchain-as-a-service (BaaS). The partnership will see the development of a smart contract platform on AWS that will enable users and developers to efficiently, cost-effectively and quickly manage, launch and code smart contracts systems. The solution would make use of Amazon Machine Image (AMI) together with core software for startup, Gmix web IDE and solidity. Also, Qtum would now be able to access Amazon’s business, marketing, sales, and technical resources. (Read More)

2) Bitcoin was trading at a $300 premium on Bitfinex amid Tether’s decline. Tether (USDT) has seen its market capitalization plunge from the $2.8 billion area to just above $2 billion in a matter of ten days and is seeing 5% haircut as traders exchange for Bitcoin. Many believe the price upswing is because the traders who purchased Tether via the exchange are now looking to sell their holdings for Bitcoin. (Read More)

3) A CME report shows that Bitcoin futures trading on the exchange have gone up by 41% in Q3, 2018. Also, the number of open contracts rose by 19%. CME also notes that when Q3 results are compared to Q2 there is noticeably slower growth in trading dynamics. Bloomberg recently reported that CME has no plans to introduce additional cryptocurrency futures as they prefer to continue analyzing Bitcoin futures. BTC futures have been a controversial topic as some believe they helped to stabilize the BTC bubble before it exploded and others think the instrument is directly responsible for the 2018 cryptocurrency bear market. The Federal Reserve Bank of San Francisco has also suggested that the “subsequent fall in the price [of BTC]” after the Bitcoin Futures launch does not appear to be a “coincidence.” (Read More)

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