قالب وردپرس درنا توس
Home / Business / Why Nasdaq's Real-Time Crypto Data Portal may soon show Ripple

Why Nasdaq's Real-Time Crypto Data Portal may soon show Ripple



Ripple (XRP) is on a winning knit right now.

Yesterday, the world's third largest crypto race jumped 12% higher after Coinbase confirmed it would [X459005] list XRP on its Coinbase Pro platform.

Now There is an XRP index in the works, and there is a good chance that it will be listed on Nasdaq, the world's second largest stock exchange.

Bitcoin and Ethereum indexes now Live on Nasdaq

On February 25, Nasdaq launched long-awaited bitcoin and ethereum indexes on the platform.

The indexes, run by Brave New Coin, aim to provide a stable and accurate spot price for the crypto curve. The listing on Nasdaq is a major step forward for the crypto industry and a Wall Street approval key.

Hidden in yesterday's announcement, Brave New Coin confirmed that it was in the "final phase" of launching a Ripple Liquid Index. With Nasdaq already on board as a partner, it seems inevitable that the XRP index list follows.

A springboard to a Bitcoin ETF?

Traders have mostly brushed over the launch of crypto indexes on Nasdaq, but that is a major development.

As CCN previously reported, crypto index approval could track the approval of bitcoin investment products, such as a bitcoin ETF. Bitcoin and Ethereum Liquidity Indexes (BLX and ELX respectively) will provide price transparency and market stability. As Brave New Coins CEO explains:

"There is still a large price difference between exchanges and countries, differing by as much as USD 1,000 at any time."

The indexes on Nasdaq will fix this by creating a composite price from multiple exchanges. The listing will also integrate Nasdaq's monitoring technology to identify and stamp out price manipulation.

  bitcoin liquid index index price cryptocurrency

Bitcoin BLX index provides a stable price compared to Bitfinex high premium. | Source: Brave New Coin

The move will help address SEC's major manipulation and price differential concerns in crypto. The upcoming ripple index will only broaden the transparency and confidence of crypto massages.

A Benchmark Ripple (XRP) Prize

Brave New Coin's ripple index will start under the ticker RLX and take into account multiple exchange rates. At the time of writing, Coinbase Pro is not part of the participating crypto exchange, but it can change as liquidity grows.

Like bitcoin and ethereum indexes, RLX will fully comply with the regulations set by the International Organization of Securities Commissioners (IOSC). This will further guarantee institutional confidence in the indices.

"BNCs & # 39; Liquid Index (LX) indexes are sub-qualitative and partial quantitative, factoring in constituency stability and quality, as well as volume, book depth, cross-size, and other factors of qualified market participants, to calculate a fair global value for the price of Bitcoin and Ethereum, expressed in USD, every 30 seconds. "

A great week for XRP

After years of rumors, Coinbase finally confirmed that the XRP would be made available to resellers.

From Monday, Coinbase Pro receives XRP deposits. Once sufficient liquidity is reached, trade will be turned on in the United States (except New York), Canada, Singapore, the United Kingdom, Australia and other European nations.

Traders reacted positively and sent the price up 12%. After a brief withdrawal, XRP is currently trading at $ 0.32 according to the CCN price index.

Featured image from Shutterstock


Source link