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Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies

04/08/2022 by Idelto Editor

Coinbase Partners With the World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies

On August 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies.

Blackrock Chooses Coinbase to Connect Aladdin Clients to Crypto

Coinbase’s institutional arm will help the world’s largest asset manager, Blackrock (NYSE: BLK), provide Aladdin’s institutional clients with access to digital currencies. The company noted that Blackrock chose Coinbase due to the firm’s “scale, experience, and integrated product offering.” The publicly traded company Coinbase (Nasdaq: COIN) has a long history in the crypto space since it was founded in 2012 by Brian Armstrong and Fred Ehrsam.

The New York-based multinational investment management corporation Blackrock is one of the largest financial institutions worldwide. Blackrock deals with roughly $10 trillion in assets under management (AUM) recorded in 2021. Coinbase considers the partnership with Blackrock and Aladdin a “milestone” for the crypto asset company. The Aladdin platform stands for the Asset, Liability, Debt, and Derivative Investment Network and it’s an investment management and trading platform designed specifically for Blackrock’s institutional clients.

“Blackrock and Coinbase will continue to progress the platform integration and will roll out functionality in phases to interested clients,” Tejpaul and Tusar wrote on Thursday. In mid-June, Rick Rieder, chief investment officer (CIO) of global fixed income at Blackrock, explained that cryptocurrencies like bitcoin (BTC) are durable assets. In April, Blackrock launched a blockchain exchange-traded fund and Blackrock was named “a primary asset manager of USDC cash reserves” the same month.

Blackrock Exec: ‘Institutional Clients Are Increasingly Interested in Gaining Exposure to Digital Asset Markets’

Joseph Chalom, the global head of strategic ecosystem partnerships at Blackrock, remarked that Blackrock’s clientele has been gravitating toward digital currencies. “Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” Chalom said on Thursday. The Blackrock executive added:

This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes.

Following the Coinbase and Blackrock partnership announcement, COIN shares increased more than 16% higher during the morning trading sessions on Thursday (EST). However, COIN is down 72.46% in value from the stock’s all-time price high. Moreover, at the end of June, Goldman Sachs downgraded COIN to a sell rating.

The news follows the alleged U.S. Securities and Exchange Commission (SEC) probe reported on July 25, and the company’s recent European expansion. In mid-June, Coinbase also revealed it had to cut back 18% of the firm’s workforce to “ensure [Coinbase stays] healthy during this economic downturn,” according to the company’s co-founder and CEO Brian Armstrong.

What do you think about Coinbase partnering with Blackrock and integrating with the firm’s Aladdin platform? Let us know your thoughts about this subject in the comments section below.

Study Shows Dogecoin, XRP Saw Largest Network Fee Increases Last Year

26/01/2022 by Idelto Editor

Study Shows Dogecoin, XRP Saw the Largest Network Fee Increases Last Year

There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of metrics have changed. A recent report from forexsuggest.com shows that dogecoin fees saw the largest increase since January 1, 2021, jumping 4,230% in a year. Ethereum’s transaction fees were the most expensive at the end of 2021, as the average transfer fee was $52.45 per transaction.

Dogecoin, XRP, Blackcoin Saw the Highest Transfer Fee Rises in 12 Months

Digital currencies saw significant growth last year in terms of value and onchain data. The average cryptocurrency transaction fees in 2021 changed a great deal as well. A study published by forexsuggest.com highlights 15 different crypto assets in order to compare average fees and the growth over 12 months. Some of the assets chosen were relatively unknown and older cryptos such as feathercoin (FTC) and blackcoin (BLK).

According to the researchers, dogecoin (DOGE) saw the largest fee increase in the year, spiking 4,230% from $0.01 per transfer to $0.433. Xrp (XRP) saw the second-largest increase in 12 months jumping 3,810% from $0.000166 to $0.00649 per transfer.

The third biggest increase over the last 12 months was blackcoin (BLK), with transfer fees increasing 1,886% from $0.00000442 to $0.0000878 per transaction. The most expensive transaction fees occurred on the Ethereum (ETH) network, and ETH was also the fourth largest gainer in terms of 12-month fee increases.

ETH transfer fees jumped 1,459% from $3.36 to $52.45 per transaction. The fifth-largest jump in fees stemmed from the Zcash (ZEC) network, as ZEC fees increased 806% in 12 months. ZEC fees on January 1, 2021, were around $0.00000406 and at the end of the year, ZEC transfer fees were $0.0000368.

Feathercoin, Monero, Bitcoin Fees Drop

Forexsuggest.com’s study shows three crypto assets that saw 12-month network fee decreases. Feathercoin (FTC) saw a 51% decrease in transfer fees, and monero (XMR) saw its transaction fees drop by 29%. Bitcoin (BTC) fees shed 26% during the course of the 12-month span.

FTC’s transfer fees on January 1, 2021, were $0.000194 and at the end of the 12-month cycle, FTC fees were $0.0000955. Bitcoin’s transfer fees were $5.55 per transaction at the start of the 12-month time span and at the end, data indicates BTC fees were $4.09 per transfer. The study’s researchers leveraged fee data sources from ycharts.com and bitinfocharts.com, and collected the metrics on the 1st day of every month last year.

Cryptocurrencies that offer transaction fees that are around a U.S. penny or less include dash (DASH) $0.0173, bitcoin cash (BCH) $0.00851, xrp (XRP) $0.00649, bitcoin gold (BTG) $0.00545, and ethereum classic (ETC) $0.0039.

Below ethereum’s $52.45 per transaction fee were bitcoin fees, followed by binance coin (BNB) at $0.562 per transfer as far as the most expensive transfer fees were concerned. Litecoin (LTC) fees recorded at the end of last year were around $0.0278 per transaction.

What do you think about the crypto transfer fee increases last year? Let us know what you think about this subject in the comments section below.

The Top Ten Altcoin Markets of 2014 – How Are They Faring Now?

01/06/2018 by Idelto Editor

With the number of altcoins listed on Coinmarketcap reaching 1,640 as of this writing, the question begs – how will all of these altcoin markets perform in the long term? When looking back four years at a historic snapshot of the leading markets from June 1st, 2014, one can see that only two of the top ten altcoins have retained their position in the top ten cryptocurrencies by market capitalization today. Additionally, only two markets have gained value over both fiat and BTC pairings, whilst four markets have lost value against both USD and BTC.

Also Read: New Binance Listings Are Losing Their Luster

The Cryptocurrency Markets Four Years Ago

At the time of the snapshot, the altcoin sphere was early in its development – with six of the ten cryptocurrency markets by capitalization then being less than 12 months old. Whilst the majority of markets have produced gains over the U.S. dollar (USD), most markets have produced dramatic losses against BTC.

BTC has maintained its position as the leading market by capitalization over the years. At the time of the snapshot, the BTC markets had a total capitalization of $8.2 billion, with bitcoin trading for approximately $640 each. Today, BTC boasts a market cap of nearly $127.2 billion, and the price of bitcoin has since risen to 1,065%, trading for approximately $7,450 as of this writing.

Many Leading Altcoins Lose Value Against BTC

Litecoin was the second largest crypto market on June 1st, 2014, then comprising a $320.5 million USD market, with LTC trading for $11.10 each. Litecoin has retained its position in top ten cryptocurrencies by market cap, today ranking sixth with a capitalization of roughly $6.725 billion. As of this writing, LTC is trading for $118.40 – an increase in USD-value of 966%. Despite the impressive gains, LTC has lost value against BTC – falling 9.14% from 0.0175 BTC to 0.0159 BTC.

At the start of June 2014, NXT was the third largest crypto market by capitalization. NXT was then trading for $0.057 and had a total capitalization of $57 million. Today, NXT is the one-hundred-and-fourth ranked market by capitalization with a market cap of approximately $123.3 billion. NXT is trading for $0.132 each as of this writing. Despite having gained 131.5% over USD, NXT has lost nearly 80% of its value when paired against BTC – falling from 8,802 satoshis to 1,780 satoshis in four years.

Dash Gains 130% Over BTC

Fours years ago, Dash was the fourth largest cryptocurrency market cap with a total capitalization of nearly $50 million, despite having traded for only four and a half months.

Today, Dash is still a leading market, ranking fourteenth by capitalization with a market cap of almost $2.5 billion. Dash is one of two top ten altcoin markets to have gained over both fiat and BTC pairs since four years ago – gaining 2,550% from $11.50 to $305, and nearly 130% from 0.0178 BTC to 0.0409 BTC.

Peercoin Falls 92% Against BTC

Since the time of the snapshot, Peercoin’s market cap ranking has slid from fifth to two-hundred-and-twelfth – growing modestly from $43.3 million to $46.3 million.

The price of PPC has lost against both fiat and bitcoin pairings – falling by 7.5% from $2.02 to $1.87, and dropping by 92% from 0.0032 BTC to 0.00025 BTC.

XRP Gains 15,250% Over USD in Four Years

Ripple is the only top ten altcoin market from June 2014 to have since ascended in its ranking by market cap – climbing from sixth with a total capitalization of $31.7 million four years ago, to third with a market cap of over $24 billion today.

The gains produced by the price of XRP over the last four years exceed those posted by all other top ten markets from the time of the snapshot – with XRP having since gained 15,250% from $0.004 to $0.614, and 1,243% from 615 satoshis to 8,260 satoshis.

DOGE Gains Over USD, Drop Against BTC

At the time of the snapshot, Dogecoin was the seventh-ranked cryptocurrency by capitalization with a market cap of $28 million. Today, the Dogecoin markets are ranked forty-seventh with a capitalization of nearly $390 million.

The price of DOGE has increased against fiat but fallen against BTC – gaining roughly 875% from $0.000349 to $0.0034 over the dollar, whilst dropping 16.3% from 55 satoshis to 46 satoshis.

Top 6-10 Ranked Altcoin Markets Lose Over 90% Since June 2014

Fours years ago, Namecoin was the eighth-ranked crypto by market cap with a capitalization of $21.1 million. Namecoin has since fallen to rank three-hundred-and-sixteenth, with its market cap currently sitting at $25.37 million. NMC has lost value against both USD and BTC – falling 27.4% from $2.37 to $1.72, and dropping 93.6% from 0.0036 BTC to 0.00023 BTC.

Blackcoin was the ninth-ranked cryptocurrency by market cap with a capitalization of $19 million at the time of snapshot. Blackcoin’s market cap has since shrunk to $15.9 million – ranking it three-hundred-and-ninety-second. BLK has suffered significant losses since the snapshot – dropping 19.15% from $0.256 to $0.207, and falling roughly 93.5% from 42,000 satoshis to 2,780 satoshis.

On June 1st, 2014, Omni was the tenth largest cryptocurrency by market cap with a capitalization of $13.6 million. Today, Omni is ranked four-hundred-and-twenty-seventh with a market capitalization of nearly $13.8 million. The price of OMNI has gained 11.4% from $22.6 to $24.58, however, has lost 91% against bitcoin – plummeting from 0.037 BTC to 0.0033 BTC in four years.

At the time of the snapshot, Bitshares PTS was the eleventh largest crypto market with a capitalization of $7.5 million. Four years ago, PTS was trading for roughly 742,000 satoshis each. Today, the Bitshares PTS markets appear dead with the last trade recorded on Coinmarketcap having occurred on the September 7th, 2016 for 27 satoshis – a 99.99% drop against USD from $4.59 to $0.000165.

What were your opinions on bitcoin and cryptocurrency in 2014? Join the discussion in the comments section below!

Images courtesy of Shutterstock, Coinmarketcap

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The post The Top Ten Altcoin Markets of 2014 – How Are They Faring Now? appeared first on Bitcoin News.