Daily Update — July 17, 2018

July 17, 2018

Market Snapshot

Total Market Cap: $269,998,194,436
24 Hour Volume: $13,898,386,299
BTC Dominance: 42.7%
BTC-O: $6,357.01
BTC-H: $6,741.75
BTC-L: $6,357.01
BTC-C: $6,741.75

LINE launches BitBox, a Singapore-based cryptocurrency exchange.

Today, LINE officially launched its cryptocurrency exchange, BitBox. The exchange is operated by LINE’s Singapore-based subsidiary, LINE Tech Plus. BitBox currently supports 28 cryptocurrencies and is available in 15 different languages. On the restriction front, BitBox is currently not available in Japan, USA, and a few other territories.

BitBox currently supports AION, BAT, BCH, BTG, CVC, DGB, ELF, ETC, ETH, GNT, KNC, LTC, MONA, NCASH, OMG, QSP, QTUM, RDD, REP, SALT, SNT, VEN, XLM, XRP, ZIL, and ZRX in various BTC, ETH, and USDT trading pairs.

Considering ICON’s recently announced venture with LINE, I’m surprised ICX didn’t make the cut. I’m guessing LINE’s priority for the platform’s initial launch was to support the popular Top 10 coins, along with a few of the more well-known ERC-20 tokens. Thus, ICX, which currently sits at #27 in market cap rankings and is no longer an ERC-20 token, didn’t make the list. BitBox’s launch should also put to rest all the rumors about LINE’s crypto exchange being ICON’s upcoming DEX. Nonsense.

I’m pretty impressed with BitBox’s UI, especially considering the service just launched. The interface is well laid out and uncluttered with a good choice of font families, sizes, and weights.

The trading charts look great as well, and LINE even built in a bunch of customizable indicators and settings for advanced users. Most importantly of all, the interface feels really responsive and snappy. I’m excited to see what LINE will bring to the table over the coming months.

It’ll be interesting to see how LINE plans to increase BitBox’s trading volume over the next few months, and if the company will market the exchange to a portion of its 200 million monthly active users of the LINE messaging app — many of which probably know next to nothing about cryptocurrencies.

Coinbase’s Index Fund is close to launching.

Earlier this year, Coinbase announced it’s upcoming cryptocurrency index fund, and it looks like the service is close to launching. A few hours ago, I was looking through my iPhone’s widgets and saw this.

Coinbase should probably change the display text to read “CBI,” but it looks like there is already an API to track prices for the index fund. As of 9:17 PM JST, CBI’s price was $3,049.59. Cool.


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