OKEx to support UnitedBitcoin trading

OKEx crypto exchange announced support for airdrop, deposit, and trading of UBTC which is a fork of Bitcoin implemented on December 12 of 2017
08 January 2018   1217

UnitedBitcoin is the upgrade of Bitcoin implementing smart contracts. Its features include proof-of-work inherited from Bitcoin with new high-speed smart contracts and faster transactions through the Lightning network. It forked from Bitcoin blockchain at block height #498,777 on December 12 of 2017.

On January 8, OKEx exchange has announced that users would be able to claim, deposit, and trade UnitedBitcoin (UBTC) with details as follow:

  • UBTC deposit will be available at 18:00, January 8 (Hong Kong Time, GMT +8)
  • UBTC claim and trading will be available at 20:00, January 8 (Hong Kong Time, GMT +8)

As it is stated in the announcement, the users will receive UBTC based on their BTC balance on a 1:1 ratio at the time of the BTC snapshot. All claimed UBTC will be deposited directly into their OKEx spot trading account.

At the moment of press, these are main market parameters of UnitedBitcoin:

  • Average price: $306,79
  • 24h volume: $153 667

Bitcoin May Pass Gold Market Cap, - Novogratz

Mike Novogratz continues to be Bitcoin and cryptocurrency optimist 
25 March 2019   86

The founder of Galaxy Digital, Mike Novogratz, expressed the opinion that over the next 20 years, Bitcoin’s capitalization would “easily” surpass the gold market, currently estimated at $ 7.5 trillion. It is reported by The Daily HODL.

In a conversation with the founder of Morgan Creek Digital, Anthony Pompiano, Novogratz stressed that the inflow of institutional money to the cryptocurrency market is only a matter of time, and major players like Goldman Sachs and the Intercontinental Exchange (ICE) are already mastering a new industry.

I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.

Mike Novogratz

Founder, Galaxy Digital

According to him, the growth potential of Bitcoin is strong and therefore it is advisable for investors to include the first cryptocurrency in their portfolios:

I think the macro case for [Bitcoin] is pretty strong. And so, if you can put a couple percent of your portfolio in, there’s a decent chance it catches wind. Fidelity is just getting set up. Bakkt continues to get delayed a little bit, but it’s not going to be delayed forever. They’re going to be in the game. And there’s lots of other players coming.

Mike Novogratz

Founder, Galaxy Digital

According to him, the volume of the gold market is $ 7.5-8 trillion and in order to outperform this market, the first cryptocurrency needs to grow in price at least 100 times.

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet.

Mike Novogratz

Founder, Galaxy Digital

The founder of Galaxy Digital also touched on the topic of bitcoin futures.

The reality is, the CME kicked their butts. And these guys have limited resources on what they’re going to spend their focus, and they decided to spend it elsewhere. Finding leverage in Bitcoin is going to get easier as the architecture in the space gets better. You’re already seeing the lending market around Bitcoin went from 10% to like 3%. So once you can borrow you can short. And so now it’s not so hard to short Bitcoin. It used to be almost impossible to short Bitcoin in 2016… It wasn’t great, but it’s not critical. 

Mike Novogratz

Founder, Galaxy Digital

In February Mike expressed the opinion that, thanks to institutional money, Bitcoin will reach $ 8,000.