Global Developments in the Cryptocurrency Market

PR Newswire

NEW YORK, December 5, 2017 /PRNewswire/ --

The cryptocurrency market is experiencing rapid growth this year. The increasing applications in cryptocurrency have attracted more investors and institutions to the market. According to Reuters, Venezuelan President Nocolas Maduro said in his regular Sunday televised broadcast that the country plans to create a cryptocurrency called the 'petro'. The new cryptocurrency will be backed by oil, gold and diamond reserves and will be used to help Venezuela overcome the financial blockade. Increased interest from investors helped boost the price of bitcoin, which is now trading at above $11,000, according to data from CoinDesk. Chineseinvestors.com, Inc. (OTC: CIIX), Cboe Global Markets Inc (NASDAQ: CBOE), Digatrade Financial Corp. (OTC: DIGAF), HIVE Blockchain Technologies Ltd. (OTC: PRELF), Bitcoin Investment Trust (OTC: GBTC).

According to Coinmarketcap, bitcoin accounted for more than half of the total cryptocurrency market value. It now has a market cap of $193 billion. The trading volume continued to increase in the past few months. Japan accounted for most of the trading after China announced a ban on Initial Coin Offerings and shut down cryptocurrency exchanges in China earlier this year. According to CryptoCompare, bitcoin trading in Japanese yen accounted for about 58 percent of trading volume, while U.S. dollar-bitcoin trading accounted for about 23 percent.

Chineseinvestors.com, Inc. (OTCQB: CIIX) just earlier today the company announced breaking news that it has entered into an agreement with Blockchain BTM, LLC to host a Bitcoin ATM at its San Gabriel, California office with plans to expand to serve other Chinese Communities throughout the United States. The Bitcoin ATM, located in the lobby of the Company's offices in the highly trafficked San Gabriel Hilton Plaza, is open from 9 a.m. to 6 p.m., Monday through Friday, making it convenient and easy to purchase Bitcoin. Purchasers will have access to on site customer service representatives available to provide instruction regarding the Bitcoin ATM in both Chinese and English. The machine however offers translation into five languages including traditional and simplified Chinese, English, Spanish, French and Korean.

Cryptocurrency enthusiasts can purchase up to $7,000 worth of Bitcoin daily from the ATM. If the purchaser does not already have a digital wallet to hold the cryptocurrency, the ATM is able to digitally print a wallet. Alternatively, there are many digital wallet smartphone apps available for download for Android and iPhone. For those that wish to make a more significant investment, over $7,000, the Company can provide information on how to facilitate much larger transactions.

In recent weeks the Company unveiled its new cryptocurrency education and information services, including the first Chinese Daily Video Newscast, Bitcoin Multimillionaire, broadcast from the NYSE covering Cryptocurrency and Blockchain Technology. In November the Company launched a free bitcoin news and education website in the Chinese language under the domain name newcoins168.com to serve Chinese cryptocurrency investors globally. In addition, the Company will launch new cryptocurrency subscription products in January 2018.

"Although there has been some volatility in the cryptocurrency market, Bitcoin's price resilience is impressive, reaching over $11,000.00 in the last week, with a Friday close of $10,814. With each rebound in price relative to news, we see more evidence that the concept of digital currency is taking root with investors and the general public alike," says Warren Wang, Founder and CEO of CIIX. "In addition to providing skilled investors with news about digital currency, ChineseInvestors.com, Inc. hopes to satisfy the average person's curiosity about cryptocurrency, including how to purchase Bitcoin. Moreover, the underlying Blockchain Technology is extremely compelling and we expect to see many interesting developments in this area. Bitcoin ATMs are just one example of how this area is moving forward. We are excited to make this service available to the Chinese community."

Cboe Global Markets Inc (NASDAQ: CBOE) announced yesterday that it plans to offer trading in bitcoin futures beginning at 5:00 p.m. CT on Sunday, December 10, 2017, at the start of Global Trading Hours. Monday, December 11, will be the first full day of trading, and trading will be free1 through December. Cboe's bitcoin futures will trade on CFE under the ticker symbol 'XBT'. XBTSM futures are cash-settled contracts based on Gemini's auction price for bitcoin, denominated in U.S. dollars. Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin. XBT futures are specifically designed to allow participants to implement straightforward trading strategies, through settlement to a single, tradeable auction price.

Digatrade Financial Corp. (OTCQB: DIGAF) announced recently the listing addition of Ethereum 'ETH' paired to BTC on the trading platform. As previously announced, this will afford Digatrade customers and shareholders first access to register for the Digafund21 (D21) token release on the already established, safe and secure Digatrade platform. Further ICO information will be provided as it materializes. The Company is currently evaluating security protocol to increase crypto-currency pairings that may include DASH, EOS, BITCOIN CASH, TETHER, MONERO, MERCURY, ZCASH, NEO among others.

HIVE Blockchain Technologies Ltd. (OTC: PRELF) reported last month that it has closed its previously announced bought deal private placement, including the exercise in full of the Underwriters' (as hereinafter defined) option. A total of 12,322,250 units were sold at a price of C$2.80 per Unit for aggregate gross proceeds of $34,502,300 (the "Offering"). The Offering was underwritten by a syndicate of underwriters led by GMP Securities L.P. and included Haywood Securities Inc., Eventus Capital Corp., and PI Financial Corp. Each Unit consists of one common share (a "Share") and one Share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of $3.90until November 14, 2019. The Shares and the Warrants issued under the Offering are subject to a hold period expiring March 15, 2018. In connection with the Offering, the Underwriters received a cash commission equal to 6% of the gross proceeds raised in the Offering, excluding any proceeds raised from Genesis Mining Ltd.

Bitcoin Investment Trust (OTCQX: GBTC) announced recently that it has declared a distribution and established a record date for the distribution of a portion of the rights to Bitcoin Gold tokens currently held by the Trust as a result of the fork in the Bitcoin blockchain on October 24, 2017 to shareholders of record as of the close of business on December 4, 2017. On the Record Date, pursuant to the terms of the Trust Agreement governing the Trust, the Trust will appoint Grayscale Investments, LLC as agent (the "Agent") on behalf of the Record Date Shareholders and transfer the rights to Bitcoin Gold tokens held by the Trust to the Agent on behalf of the Record Date Shareholders.

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