Project Pai PAI/BTC on Bitfinex exchange is 0.02. The trading volume on Bitfinex is 8.08. Project Pai average change within 24 hour is 3.8 against …
As at 2019-09-14 average Project Pai price is 0.02202230 USD, 0.00000211 BTC, 0.00011684 ETH.
Project Pai PAI/USDT on Huobi Korea exchange is 0.02. The trading volume on Huobi Korea is 1662.08.
At the same time Project Pai PAI/BTC on Huobi US (HBUS) exchange is 0.02. The trading volume on Huobi US (HBUS) is 48.27.
Project Pai PAI/ETH on Lbank exchange is 0.02. The trading volume on Lbank is 453949.00.
Project Pai PAI/BTC on BitRabbit exchange is 0.02. The trading volume on BitRabbit is 289.43.
Project Pai PAI/BTC on Bitfinex exchange is 0.02. The trading volume on Bitfinex is 8.08.
Project Pai average change within 24 hour is 3.8 against USD, 2.43 against BTC, -0.22 against ETH. Weekly report: -1.13 against USD, 0 against BTC, -5.74 against ETH. Monthly report: -13.29 against USD, -14.98 against BTC, -14.03 against ETH.
In this regard, 24 hour trading volume is 986662.36977659 USD or 94.53406775 BTC. At the same time Project Pai market capitalization is 32007550 USD or $3066 BTC.
It’s noteworthy that is issued into circulation Project Pai.
Coinbase may create and IEO platform, according to their head of institutional sales in Asia, Kayvon Pirestani. The IEO platform is an “interesting …
Coindesk’s Invest Asia Conference concluded this week and the two-day event which went from September 11-12th has seen some big announcements.
Hosted in Singapore, the event promised to be, “an exploration of the people and topics driving” the Asian market. The event would also introduce new ideas and projects into the Asian market. It is safe to say that Coindesk’s event did not disappoint. Here is a rundown of the key announcements and moments:
Bobby Lee announces a new wallet
Bobby Lee, the man behind China’s first crypto exchange has announced his intention to return to the industry with a new wallet. Called Ballet, the credit card-sized product made from steel will be a cold wallet that accepts Bitcoin and fourteen AltCoins with another eighteen to be added. It has already reached it Beta program with people about to be signed up.
2. The Marshall Islands plans national cryptocurrency
The Marshall Islands in the Pacific plans to launch its very own government-backed cryptocurrency. The token, called the Marshallese sovereign (SOV), will be introduced via a pre-sale open to the public around the world on the SOV Development Foundation website. However, nothing is official as of yet due to regulatory concerns and some other hurdles that needed to be crossed. It is expected to be available to the public in 18 to 24 months. The US government and the International Monetary fund group have voiced concerns.
3. Binance announces USD backed token
Binance announced that their US dollar-backed cryptocurrency, BUSD, is set to be listed and ready for trading next week. The coin made in partnership with Paxos Trust Company who recently got approval from the New York Department of Financial Services (NYDFS) for the token. The stable token will be the second foray by Binance into this market following the launch of Binance GBP (BGBP) in Jersey.
4. Legacy Trust to make crypto custody business
Legacy Trust is expanding its horizons it was announced. The trust and custody services provider will now have an independent company that deals with cryptocurrency custody solutions. The company will be called First Digital Trust and is set to be made a legal entity in Hong Kong by November. According to a Coindesk report, “Legacy Trust envisions the accumulation of $28 billion worth of digital assets in the custody of First Digital Trust within the first three years of its launch.”
5.Coinbase alludes to initial exchange offering (IEO) product
Coinbase may create and IEO platform, according to their head of institutional sales in Asia, Kayvon Pirestani. The IEO platform is an “interesting opportunity” for Coinbase and may come about in the “next few months”. This move would mirror that of other exchanges who have gone down the IEO route. Binance, Huobi, and OkEx have all made their own versions in recent times.
One Project Pai coin can now be purchased for about $0.0220 or 0.00000212 BTC on exchanges including HBUS, Bitfinex, OOOBTC and Huobi.
Project Pai (CURRENCY:PAI) traded 6.4% higher against the US dollar during the 24 hour period ending at 10:00 AM Eastern on September 14th. Project Pai has a market capitalization of $31.96 million and approximately $705,334.00 worth of Project Pai was traded on exchanges in the last day. One Project Pai coin can now be purchased for about $0.0220 or 0.00000212 BTC on exchanges including HBUS, Bitfinex, OOOBTC and Huobi. During the last week, Project Pai has traded up 1.6% against the US dollar.
Here is how related cryptocurrencies have performed during the last day:
Huobi Token (HT) traded up 0.2% against the dollar and now trades at $4.08 or 0.00039376 BTC.
Maker (MKR) traded up 2% against the dollar and now trades at $464.62 or 0.04486603 BTC.
Crypto.com Coin (CRO) traded 0.4% higher against the dollar and now trades at $0.0396 or 0.00000382 BTC.
IOStoken (IOST) traded down 0.3% against the dollar and now trades at $0.0396 or 0.00000526 BTC.
Karatgold Coin (KBC) traded down 5.9% against the dollar and now trades at $0.0363 or 0.00000351 BTC.
Clipper Coin (CCCX) traded 2.3% higher against the dollar and now trades at $0.0311 or 0.00000300 BTC.
THETA (THETA) traded 3.2% higher against the dollar and now trades at $0.12 or 0.00001133 BTC.
Pundi X (NPXS) traded down 2.2% against the dollar and now trades at $0.0004 or 0.00000003 BTC.
IOST (IOST) traded up 0.5% against the dollar and now trades at $0.0068 or 0.00000066 BTC.
Aurora (AOA) traded down 15.1% against the dollar and now trades at $0.0101 or 0.00000098 BTC.
Project Pai Profile
Project Pai (PAI) is a coin. Its launch date was May 24th, 2018. Project Pai’s total supply is 1,621,177,500 coins and its circulating supply is 1,453,379,293 coins. Project Pai’s official Twitter account is @projectpai. The official website for Project Pai is projectpai.com. Project Pai’s official message board is medium.com/project-pai. The Reddit community for Project Pai is /r/ProjectPai and the currency’s Github account can be viewed here.
Buying and Selling Project Pai
Project Pai can be bought or sold on the following cryptocurrency exchanges: Huobi, Bitfinex, HBUS, BitForex, LBank and OOOBTC. It is usually not currently possible to buy alternative cryptocurrencies such as Project Pai directly using U.S. dollars. Investors seeking to acquire Project Pai should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Project Pai using one of the aforementioned exchanges.
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Used to describe the sort of bundled services that investment banks offer, it has little application to the cryptosphere, because there are no bitcoin …
Prime brokerage firms are coming for crypto in what’s likely to be a race of winner-takes-almost-all. Goldman Sachs is synonymous with institutional wealth and power, even to those who’ve never purchased a financial product in their life. Like the eponymous tower it occupies in Jersey City, Goldman Sachs dominates the prime brokerage trade. What will happen when crypto gains its own Goldman Sachs – an institutional investment company whose AUM grant it unprecedented sway?
Prime brokerage is a term that’s synonymous with financial markets, but never with crypto. Used to describe the sort of bundled services that investment banks offer, it has little application to the cryptosphere, because there are no bitcoin investment banks. At least not in the traditional sense. For all its innovation, however, crypto has a habit of borrowing from the world it was meant to have deviated from. Think custodial services for cold storage of digital assets, which evoke banks with their dusty vaults and safety deposit boxes; or consider annualized interest from defi platforms that mirrors that once offered by personal savings accounts. The more things change, the more they stay the same.
It should come as no surprise, therefore, to learn that HNW individuals will soon have their own all-in-one firms willing to manage their wealth across a range of verticals, altcoins, blockchains, and sectors. If you’re willing to trust a third party to custody your crypto – as many investors are – you might as well trust them to invest your assets into the bargain, putting them to use in a manner that will generate the best return. It’s a world away from the financially sovereign one that Satoshi and Hal Finney envisaged, but then a lot has changed in Bitcoin in a decade.
The Quest to Become the Goldman Sachs of Crypto
Troy Trade is one company eyeing the lucrative prime brokerage market, with the sort of all-in-one service that will be familiar to traditional investors: institutional-grade trading, including margin and OTC, together with quant strategies, and a suite of dynamic data tools. Having secured $10 million in funding from the likes of Block VC and Consensus Labs, Troy is now promising institutional investors direct market access to all tier-one exchanges such as Binance, Huobi, and Bitfinex.
Newcomers such as Troy will face competition from several of the same exchanges whose liquidity they’re tapping into. In the last two years, virtually every major U.S. and global exchange has courted institutional investors through laying on services such as custody and OTC, and slashing trading fees for high volume traders. Binance and Huobi have made significant headway in provisioning turnkey services tailored to the needs of institutional investors, but have struggled to shed their reputation as retail trading venues. It’s one thing to offer a suite of services under one roof; it’s another to successfully be all things to all people simultaneously, as the needs of distinct investor groups are very different.
What Institutional Investors Are Looking For
In crypto, as in traditional finance, institutional investors are seeking certain provisions before they’ll bring their money, and that of their clients, to the table. These include:
Advanced trading interface
Sophisticated data analytics
High speed order execution
Competitive rates and trading fees
Wide range of quantitative solutions
This latter caveat is particularly important, as institutional traders demand more comprehensive and sophisticated datasets from which to base their trading decisions. This includes detailed historical data, plus tools to facilitate the construction of proprietary trading systems. In addition, low latency, to maximize the performance of high frequency trading algorithms, is a must.
Looking around the cryptosphere, there aren’t many companies that can meet these sorts of demands. When reputable exchanges such as Kraken are experiencing $4,000 wicks, like the example below, it’s safe to say that institutional-grade liquidity still isn’t there, or at the very least, it’s beyond the reach of any single exchange right now.
Candles of this extremity are unusual, it’s true, but their very existence shows that the cryptosphere still has work to do before it can open for business to the big boys. Combining the liquidity of multiple exchanges, as brokerage services such as Troy Trade, Tagomi, and Caspian are doing, is a start, but institutional demands run deeper. What they’re really seeking is a prime broker they can trust, and that’s something which can’t be bought or acquired by plugging in to the trust of others. It will take time and flawless service for any of the emerging institutional brokers to become crypto’s own Goldman Sachs. Until then, expect to see intense competition among crypto brokers and established exchanges to woo Wall Street.
What Prime Brokerage Will Do for Crypto
The rise of prime brokerage firms may be good for institutional investors, but what will it mean for the rest of the market?
Lower volatility: When Cboe and CME launched BTC futures in late 2017, the talk was of big money “taming” bitcoin, but as history has shown, bitcoin doesn’t like being told what to do. As more money enters the market from institutional coffers, some of the intra-day moves should be flattened out, but lower volatility should not be mistaken for low volatility. This bronco will still buck.
Greater protection: Bitcoin, to all practical intents and purposes, cannot be killed. As such, it doesn’t need institutional investors to park their wealth in it to prevent the U.S. government from overregulating it. That said, the deeper crypto roots itself into the financial system, the harder it will be to weed out. By the time it’s a trillion-dollar asset class, the Federal Reserve and the IMF can bump their gums all they like – crypto won’t be going anywhere.
New products: Why trade an asset when you can trade derivatives of it, gaining exposure without the risk of custody? It won’t be retail investors who drive the innovation of new synthetic instruments for trading BTC, ETH, BCH, and other leading assets. The demand for new crypto derivatives will come from institutional investors, and as synthetic assets catch on, more money will flow into crypto. At the moment, there are limits on what you can do with bitcoin as an institutional investor, save for going long or short and playing around with leverage. Expect more levers to be added in future, and more complexity added, for the benefit of sophisticated traders with an appetite for such things.
For retail investors seeking a means to buy and sell cryptocurrency, platforms such as exchange.Bitcoin.com are more than up to the task. Institutional investors, however, tend to demand more bespoke solutions. For these entities, prime brokerages are the answer. The question is, which broker will be the first to step up and claim that crown?
Do you think the arrival of more institutional money will be good for the crypto market? Will there be any downsides to greater institutional participation? Let us know in the comments section below.
Images courtesy of Shutterstock.
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As someone who was there from virtually the start, Roger Ver has seen and done it all in Bitcoin. A… read more.
Kai’s been manipulating words for a living since 2009 and bought his first bitcoin at $12. It’s long gone. He’s previously written whitepapers for blockchain startups and is especially interested in P2P exchanges and DNMs.
One TrustVerse token can currently be bought for approximately $0.0242 or 0.00000235 BTC on cryptocurrency exchanges including Bithumb Global …
TrustVerse (CURRENCY:TRV) traded 1.2% lower against the dollar during the 1-day period ending at 7:00 AM ET on September 14th. One TrustVerse token can currently be bought for approximately $0.0242 or 0.00000235 BTC on cryptocurrency exchanges including Bithumb Global and Cobinhood. TrustVerse has a total market cap of $5.49 million and approximately $27,040.00 worth of TrustVerse was traded on exchanges in the last 24 hours. Over the last seven days, TrustVerse has traded up 1.8% against the dollar.
Here is how other cryptocurrencies have performed over the last 24 hours:
Huobi Token (HT) traded 1.3% lower against the dollar and now trades at $4.03 or 0.00039017 BTC.
Maker (MKR) traded 1.5% higher against the dollar and now trades at $460.32 or 0.04457971 BTC.
Crypto.com Coin (CRO) traded 1.2% lower against the dollar and now trades at $0.0395 or 0.00000382 BTC.
IOStoken (IOST) traded 0.3% lower against the dollar and now trades at $0.0396 or 0.00000526 BTC.
Karatgold Coin (KBC) traded down 6.3% against the dollar and now trades at $0.0367 or 0.00000356 BTC.
Clipper Coin (CCCX) traded 0.9% higher against the dollar and now trades at $0.0306 or 0.00000296 BTC.
THETA (THETA) traded 3% higher against the dollar and now trades at $0.12 or 0.00001116 BTC.
Pundi X (NPXS) traded up 0.2% against the dollar and now trades at $0.0004 or 0.00000003 BTC.
IOST (IOST) traded up 0.3% against the dollar and now trades at $0.0068 or 0.00000066 BTC.
Aurora (AOA) traded down 2.1% against the dollar and now trades at $0.0118 or 0.00000114 BTC.
TRV is a token. It launched on July 5th, 2017. TrustVerse’s total supply is 1,000,000,000 tokens and its circulating supply is 226,649,090 tokens. TrustVerse’s official website is trustverse.io. TrustVerse’s official Twitter account is @TravelCoins_. The official message board for TrustVerse is medium.com/@trustverse_official.
Buying and Selling TrustVerse
TrustVerse can be traded on the following cryptocurrency exchanges: Cobinhood and Bithumb Global. It is usually not presently possible to buy alternative cryptocurrencies such as TrustVerse directly using US dollars. Investors seeking to acquire TrustVerse should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy TrustVerse using one of the exchanges listed above.
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