Welcome back to Altcoins at Glance. This week has been spectacular for the crypto community as Bitcoin, the king of digital assets, has pumped above thirty thousand. A pump from BTC usually takes a big chunk of the altcoin market with it.
In this week’s edition, we have EDX markets, Bitcoin Cash, Vechain (Vet), Tether (USDT), and more.
Only Three Altcoins and BTC are Listed by EDX Markets
- The new crypto exchange EDX Markets was launched last June 20.
- EDX Markets is backed by financial giants, such as Citadel Securities, Fidelity Digital Assets, Virtu Financial, Sequoia Capital, and Charles Schwab.
- EDX Markets will only be listing four assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
- It is interesting to note that BTC, LTC, and BCH are all proof-of-work (PoW) assets and did not have an initial coin offering (ICO). This is probably the company’s way of avoiding regulatory scrutiny.
- All four crypto assets have surged in price after the launch of EDX Markets.
Bitcoin Cash Saw a 100% Pump
- Bitcoin Cash (BCH) is a product of Bitcoin’s hard fork in 2017.
- This asset saw more than a 100% increase in value after it was listed by a new crypto exchange, EDX Markets.
- This pump has surprised the market since BCH has been trading flat for a while.
- Bitcoin Cash is being traded at $202 at the time of writing.
Coinbase Adds VeChain (VET) to its Roadmap
- Coinbase, the largest crypto exchange in the US, has announced that it is adding VeChain (VET) and VeThor (VTHO) to its listing roadmap. This opens the possibility of the altcoins being listed in the exchange.
- The price of VET had an 18% pump on the day of the announcement. The price jumped to 0.019 from a low of 0.0168 in just 24 hours.
- VTHO also pumped from 0.00118 to 0.00125 in just one day.
- Both assets are currently retracing at the time of writing.
- VeChain is a blockchain solution for various industries, such as supply chain, logistics, agriculture, and healthcare. Gas fees within the network are paid with VTHO tokens.
Tether Executive Says That They Are Not Competing with Banks
- Paolo Ardoino, CTO of Tether, says that they are not competing with banks. He stated this in an interview with The Wolf of All Streets.
- Tether’s CTO said that they cater to a different market.
- Tether, the issuer of the largest stablecoin USDT, is targeting people of do not have bank accounts. He noted that most people in Europe and the US have bank accounts, but there are places in the world that do not have good banking infrastructures.
- Ardoino’s comments are exactly why crypto was created. Crypto was created to empower people who are neglected by the traditional financial system.
Thank you for joining us at Altcoins at a Glance, and we hope that you have enjoyed the gains made by the market these past few days. We hope to see you next week.
Featured Image from Pixabay
