Tuesday marked by weaker cryptos and Canaan's IPO

Posted 22 May, 2018

The crypto market is drifting downwards on Tuesday.

On the Bitfinex, bitcoin is priced at some $8,226, while the Ethereum, the second major coin, changes hands on this platform at $685. Ripple is quoted at $0.66536 and Litecoin price was at $132.99.

Despite weaker cryptos, the top-2 producer of mining facilities intends to get $2 billion from IPO slated for July. This is the largest initial public offering of this bitcoin-focused company. According to the news reports, Beijing-based Canaan, a supplier of crypto mining capacities, plans to attract funds as producer of chips for mining and AI, rather than as a bitcoin company. The company obtained permission for IPO last month, whereas crypto mining is banned in China.

With increasing crypto prices, users became more interested in mining, so demand for the capacities rose. However, Bitcoin has plunged 40% over the year, which explains slacker demand for mining.

After all, the company managed to increase revenue by some 3% to $204 million (RMB 1.3 billion).

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23 May, 2018 11:02

← US dollar stronger driven by upcoming release of Federal Reserve minutes

The US dollar has raised in price against the majors in the middle of the week after showing some weakening a day before. Investors have again become interested in risk assets seeing better relations between the USA and China. The markets are reportedly waiting for the minutes of US Federal Reserve meeting, expecting possible strong signals of the interest rate revision.

US dollar stronger driven by upcoming release of Federal Reserve minutes

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22 May, 2018 11:22

UK's LMAX launches institutional crypto platform in London →

LMAX Exchange Group is reportedly going to open the first platform for institutional investors in the UK – LMAX Digital. The exchange is said to be located in Londaon and initially to deal with BTC, ETH, BCH, LTC...Traders and investors will also get some bonuses on the platform, like single public rules and solutions for crypto assets storage

UK's LMAX launches institutional crypto platform in London
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