By As of 21st August 2019, the world’s biggest stock exchange, NASDAQ, had added Ripple’s XRP to its new index. They recently built the index on a new website, new.nasdaq.com. XRP ranked as the 3rd biggest crypto asset on NASDAQ.
Changed Plans Led to Early Announcement
In spring, NASDAQ announced its intentions to add XRP Liquidity Index to its crypto-asset index in the future. However, their plans suddenly changed and NASDAQ listed XRP on 16th August. Now, XRP is legitimately part of the new NASDAQ market index.
Previously, the platform added XRP Liquid Index (XRPLX) to its service working with global financial data. The liquid index is designed to provide a real-time spot for the price of 1 XRP, quoted in USD, and based on the most liquid ends of their markets. The XRPLX is the latest addition to Brave New Coin’s group of Liquid Indices Program.
It stated in the announcement that this was part of NASDAQ’s cooperation with Brave New Coin. The latter is an analytical company that works in the field of cryptocurrency. Brave New Coin intended to send the data on its concurrent XRP index to the global index data service run by NASDAQ (GIDS). BNC developed GIDS to meet the marketplace requirement for a single, dependable, and fair USD price for XRP – based on live real-world trading activity.
News Catalyzed XRP
Following the news of the new listing, XRP plummeted to above $0.3000. By Tuesday, 20th August, XRP hit a high of $0.3175. A couple of hours later, it stood at $0.316.
A few days ago, Bakkt made headlines with its announcement that it would launch its physically-settled Bitcoin futures in 23rd September 2019. In the future, the company may be adding top five altcoins to its trading platform too.
Bitcoin has more than tripled in 2019. It has moved from under $4000 at the start of the year and then topping out a little under $14,000 in June.
All Institutional Investors to Seek Bitcoin Soon
Anthony Pompliano yesterday commented on Bitcoin Investments. The crypto expert and investor from Morgan Creek Digital tweeted that Bitcoin would eventually become part of every institutional investor’s portfolio in just a matter of time. Among the things he said in the interview, Pompliano stated three significant things that prevent a global 100% adoption of Bitcoin and its immediate price charge:
1. Global regulation
2. Only a tiny part of the world’s population is aware of Bitcoin’s existence and understand how BTC and crypto in general work;
3. Difficulties of buying BTC: setting up an account on an exchange, verifying it, depositing it, etc.
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