Beginning today, Flipside Crypto’s fundamental health rating system, FCAS, will be available to all registered users of CoinMarketCap’s API. FCAS stands for Fundamental Crypto Asset Score, a single, consistently comparable value for measuring cryptocurrency project health. This is the second phase of a relationship for CoinMarketCap and Flipside Crypto: FCAS has appeared on CoinMarketCap’s asset pages since March of 2019.
FCAS is produced using primarily blockchain transaction data and developer activity to characterize cryptocurrencies. Daily FCAS Ratings for more than 500 crypto assets are now accessible via CoinMarketCap’s new API version upgrade (v.1.16.0) across all pricing tiers, including the Basic Tier, which is free for personal use. In addition, CoinMarketCap’s updated API provides ROI, ATH, ATL, and other “price performance statistics” with its new endpoint.
“We couldn’t be happier to announce CoinMarketCap as the first-ever API distributor of FCAS and its subcomponents,” said Flipside Crypto CEO, Dave Balter. “Crypto organizations are maturing, and their ability to develop product and whether they can attract and retain customers are key signals that will impact long term value and price, so it’s only natural to distribute via CoinMarketCap as an industry leader.”
Beyond FCAS, Registered CoinMarketCap API Users will also be able to access Flipside Crypto’s daily subcomponent ratings for User Activity, Developer Behavior, and Market Maturity.
“We are excited to bring Flipside’s quantitative data to our API, so that users of our API are now empowered to draw ever more accurate conclusions using multiple data points,” said Carylyne Chan, Chief Strategy Officer of CoinMarketCap, “As we expand future paid offerings on the API in partnership with Flipside, we are confident that these will support even more data-backed decisions, spanning price, volume, and fundamental metrics.”
Flipside Crypto’s FCAS is produced by ingesting blockchain transaction data and applying behavioral tags to understand the actions of customers, speculators and 16 other segments, as well as evaluating more than 30 data points across 18,000 github, gitlab and bitbucket developer code repositories. Over 100 billion events are analyzed to generate a clear comparative picture of individual crypto asset performance.
Flipside Crypto was founded in 2017 by veteran entrepreneurs Dave Balter, Eric Stone and Jim Myers. The team previously built Smarterer, a machine-learning skill assessment platform that was acquired in 2014 by Pluralsight. Flipside Crypto is venture backed by True Ventures, Coinbase Ventures, Digital Currency Group and other investors.
Riot Blockchain Announces September 30, 2019 Quarterly Results
Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”) announced the filing of its September 30, 2019 Quarterly Report on Form 10-Q, which can be viewed on the Company’s website or at SEC.gov.
Riot today announced financial results for its period ended September 30, 2019. The Company posted quarterly revenue of $1.7 million and raised a total of $23.6 million through its at-the-market offering (“ATM”) during the nine months ending September 30, 2019.
- Generated approximately $1.7 million in revenue on the production of 157.2 bitcoin, and 400.2 litecoin for the quarter. This compares to Q3/18 revenues of $2.3 million on the production of 319.3 bitcoin, and 1,182.2 litecoin. The industry faced continuing increases in the bitcoin difficulty index, increasing 61% during the latest quarter, which negatively affected BTC production and reported revenues.
- The average price of bitcoin for the latest quarter was $10,382, compared to $8,297 in Q2/19 and $6,856 in Q3/18.
- Cash and digital currencies as of September 30, 2019 totaled approximately $18.3 million.
- The Company received gross proceeds from the sale of shares of its common stock under its ATM of approximately $23.6 million at a weighted average sales price of $3.10 per share during the nine months ended September 30, 2019.
- The Company’s financial position improved across the three and nine months ended September 30, 2019, with the Company reporting working capital of $16.5 million at September 30, 2019 as compared to a working capital deficit of $(4.3) million at December 31, 2018. Total stockholders’ equity also improved to $28.2 million at period end, an increase of $23.7 million over the December 31, 2018 balance.
- Gross margin percent, computed as mining revenues in excess of cost of revenues (exclusive of depreciation and amortization), improved to 14% from 13% in the three-month periods ended September 30, 2019 and 2018, respectively. Gross margin percent was 18% and 35% in the nine-month periods ended September 30, 2019 and 2018, respectively.
- Reduction in the Company’s selling, general, and administrative expenses (“SG&A Expenses”) to $1,762,000 in Q3/19, from $5,970,000 in Q3/18, a 70.5% decrease arising from ongoing expense reductions. SG&A Expenses reduced to $7,140,000 from $16,314,000 in the nine-month periods ended September 30, 2019 and 2018, respectively.
- Net loss in the three-month periods ended September 30, 2019 and 2018, respectively, totaled approximately $(1.8) million and $(6.2) million, or $(0.08) and $(0.46) /share. Net loss in the nine-month periods ended September 30, 2019 and 2018, respectively, totaled approximately $(16.6) million and $(46.6) million, or $(0.93) and $(3.56) /share.
Recent business update and highlights:
Riot has conducted two in-person meetings with its newly established Advisory Board over the past ninety days to begin and advance a dialog covering the Company’s bitcoin mining operations, efficiencies and possible strategic next steps. Riot previously announced establishment of an Advisory Board comprised of well-recognized creative leaders with a wealth of operational and strategic experience from across the blockchain space including: bitcoin software development, node projects, bitcoin education, start-up advisory, and venture capital/angel investing. The Advisory Board has been established to assist the Company in its strategic mission and enhance shareholder value through the advisors’ industry-leading insights and vast network of innovators and pacesetters.
The previously disclosed Securities and Exchange Commission investigation associated with the subpoena received by the Company in April 2018 is still ongoing, and the Company has been cooperating with the SEC in that investigation.
Galaxy Digital Serves as Co-Manager of Silvergate’s Initial Public Offering
Galaxy Digital Holdings Ltd. (TSXV: GLXY; Frankfurt: 7LX) (“Galaxy Digital” or the “Company”) today announced that Galaxy Digital Advisors LLC served as co-manager of Silvergate Capital Corporation’s initial public offering of 3,333,333 shares of its Class A common stock at a public offering price of $12.00 per share. Silvergate’s common stock trades under the trading symbol “SI” on the New York Stock Exchange.
“Galaxy Digital Advisors is pleased to have served as co-manager of Silvergate’s initial public offering,” said Ian Taylor, Head of Advisory Services at Galaxy Digital. “We are committed to building long-term relationships with leading companies in the digital asset and blockchain industry and leveraging our expertise to complete additional offerings for an array of firms going forward.”
SOURCE Galaxy Digital Holdings Ltd
eToroX Adds Dash, USDC, USDT and 5 New Stablecoins
eToroX, the blockchain subsidiary of global investment platform eToro, has added five new fiat stablecoins, a new cryptoasset, two further established stablecoins and a crypto-commodity pair, signalling its rapid growth, having only launched only six months ago. There are now 26 tradable assets available on the exchange.
The new assets announced today are:
- Turkish Lira (TRYX), Polish Zloty (PLNX), South African Rand (ZARX), Hong Kong Dollar (HKDX), and Singapore Dollar (SGDX)
- Peer-to-peer cryptoasset, Dash
- Circle’s USDC and Tether’s USDT stablecoins
- GOLDX/BTC pairing
eToroX is committed to supporting the needs of algo traders seeking to diversify into cryptoassets on a secure and regulated platform. These new additions also demonstrate eToroX’s focus on Asian markets.
Doron Rosenblum, Managing Director of eToroX commented, “We see the addition of USDC and USDT as a way for eToroX to further meet the needs of professional and institutional algo traders, particularly in the Asian markets. Adding five new stablecoins, plus the addition of the Dash cryptoasset, demonstrates our ongoing commitment to bridge the gap between the world of blockchain and traditional financial markets.”
GoldX – the tokenized gold stablecoin – is now available as a base currency for a trading as a pair with Bitcoin (GOLDX/BTC). Increasingly, bitcoin is being compared with gold as a store of value. Gold is viewed as a safe haven asset, and bitcoin is increasingly being referred to as ‘digital gold’.
Rosenblum continued: “Our Gold/Bitcoin pair provides a means to trade between the old and the new stores of value, making Gold/BTC an extremely special and interesting combination.”
With today’s new additions, eToroX has added a total of 96 trading pairs since its inception in April this year, and currently offers seventeen eToroX stablecoins in addition to USDC and USDT.
The pairs include: USDEX/ZARX, ZARX/JPYX, EURX/PLNX, USDEX/PLNX, USDEX/HKDX, USDEX/TRYX, USDEX/SGDX, ETH-USDT, XRP-USDT, LTC-USDT, BCH-USDT, XLM-USDT, EOS-USDT, TRX-USDT, BTC-USDC, ETH-USDC, XRP-USDC, LTC-USDC, BCH-USDC, XLM-USDC, EOS-USDC, and TRX-USDC.
As eToroX continues to open up the world of trading on the blockchain, more trading pairs will be announced. eToroX will also be adding additional cryptoassets and stablecoins to the exchange in the coming months.
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