Crypto Daily: PewDiePie Switching to DLive’s Blockchain Streaming Platform; 47% Of Crypto Traders Hold Their Portfolio’s Majority In Altcoins
The Planet’s Most Popular Streamer
【cryptoslate】Felix Kjellberg, known by his streamer handle PewDiePie, is one of the world’s most popular streamers. As of April 2019, his channel received 93 million subscribers and 21 billion views, comparable to every person on Earth watching three of his videos.
On YouTube, he is the most subscribed and tenth-most viewed content creator on the platform. Estimates put his annual income from the platform at over $10 million, with YouTube receiving a comparable amount of income from the streamer.
On Apr. 9, PewDiePie announced a partnership with DLive, a blockchain-based streaming platform built on the Lino test network, a “decentralized autonomous content ecosystem.”
Beginning on April 14th, he will exclusively stream on the platform.
Risk Takers: 47% Of 10,661 Crypto Traders Hold Their Portfolio’s Majority In Altcoins Over Bitcoin
【cryptopotato】 According to a recent poll on Twitter, the majority of cryptocurrency traders have the predominant share of their portfolio stacked in altcoins rather than Bitcoin. Perhaps that’s somewhat understandable at the current period, as 2019’s altcoin season is seemingly blossoming. But how safe is that?
While altcoins provide for notable and relatively quick gains, they are also comparatively riskier. The notion of big returns has been brought up plenty of times, but there are important investment principles to be considered.
Institutional Bitcoin Trading Volume Grows For 4 Consecutive Months
【bitcoinist】A new report from curated data platform Diar reveals that institutional Bitcoin trading volumes record growth for the 4th month in a row.
Popular cryptocurrency data outlet Diar reports that institutional Bitcoin trading volumes have moved into growth for the 4th consecutive month. According to the report, they are hitting new highs against US-based exchanges as a percentage of the total trading volume.
As seen on the chart, the current volume is around 9 percent more compared to December 2018.
Notably, CBOE is the biggest loser, which doesn’t come much as a surprise. The Chicago Board Options Exchange revealed in March that it will no longer offer any new contracts for its cash-settled XBT Bitcoin futures product moving forward.
CME Group, on the other hand, is marking gains. As Bitcoinist reported last week, CME Bitcoin futures volume soared 950 percent on April 4th compared to the beginning of the month. As of Monday, April 8th, CME saw around 16,000 Bitcoin futures contract.
Grayscale’s Bitcoin Investment Trust (GBTC) which is traded on OTC markets has also lost dominance. The report outlines that GBTC has accounted for over 50 percent of the entire market share when it comes to institutional products but it is now standing in less than 24 percent.
Declining Price Didn’t Affect Institutional Demand
Bitcoin has gone through a 15-month bear market, which dragged Bitcoin’s price down to yearly lows of around $3,200 from an all-time high of $20,000. In other words, the cryptocurrency is down around 85 percent from its peak.
According to Diar’s report, however, the decline in value failed to translate into more institutional demand, perhaps hinting that price isn’t such a prominent factor for institutions.
In any case, the rising interest in institutional Bitcoin trading products could be interpreted as a bullish sign. However, veteran trading expert Tone Vays has warned that Bitcoin’s recent rally doesn’t necessarily mean that the bear is over.
Others, however, have suggested that price may have bottomed as it’s now resembling a pattern seen prior to the previous bull-run if not a new parabolic advance.
ϟ Disclaimer: Crypto Daily is curated by DigiFinex for your reference only, it is NOT our investment advice.
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