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Cryptocurrencies on Pace to Close Mixed as CoinJar Announces Launch of Cryptocurrency Index Funds

Aug 07, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6959.72 -1.91% 0.2% -10.09% USD$119,678,279,522.0 USD$4,372,681,385.12
Ethereum ETH USD$391.83 -3.18% -3.36% -9.36% USD$39,646,745,276.0 USD$1,669,501,090.23
Ethereum Classic ETC USD$17.29 -3.76% -5.39% 5.04% USD$1,791,793,341.0 USD$714,731,688.11
EOS EOS USD$6.77 -3.9% -3.45% -7.12% USD$6,135,186,550.0 USD$521,836,716.25
Bitcoin Cash BCH USD$685.96 -2.52% -0.45% -11.04% USD$11,853,548,661.0 USD$352,457,230.23

On Mobile/Tablet scroll to the right  Source: S&P Capital IQ

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Stellar XLM USD$0.24 -2.33% 0.97% -13.52% USD$4,468,085,116.0 USD$60,988,922.16
Bitcoin BTC USD$6959.72 -1.91% 0.2% -10.09% USD$119,678,279,522.0 USD$4,372,681,385.12
Cardano ADA USD$0.13 -1.99% -0.21% -9.32% USD$3,359,940,046.0 USD$49,858,159.12
Bitcoin Cash BCH USD$685.96 -2.52% -0.45% -11.04% USD$11,853,548,661.0 USD$352,457,230.23
NEM XEM USD$0.14 -1.33% -0.55% -12.67% USD$1,270,870,795.0 USD$7,271,148.25

On Mobile/Tablet scroll to the right  Source: S&P Capital IQ

  • ConinJar, a Bitcoin startup based in Australia, is introducing a digital currency fund which will track both Bitcoin and a combination of Bitcoin, Ethereum, Ripple and Litecoin (based on total supply).  In order to qualify for the fund, investors will need to have AUD$2.5mm in net assets and AUD$250,000 in annual income.  Cryptocurrency assets will be held in multi-signature digital wallets which should provide extra levels of security for investors.
  • Development of the new CryptoDredge Nvidia GPU miner is moving forward very fast with new patches bringing performance improvements.  
  • KB Financial Group, a South Korean financial holding company, issued a report yesterday that finds only 2% of South Koreans are interested in investing in cryptocurrencies.  The report is a summary of a survey of 600 households with financial assets of USD$447k or more and 400 households with USD$894k or more.  74.8% respondents say they have no intention of investing in cryptocurrencies.
  • South Korea biotech company Macrogen, the leading gene sequencing service provider in South Korea, is developing a blockchain platform based on genomic big data.  Macrogen is working with a local tech firm, Bigster, to bring this product to the marketplace.  The two companies hope to use blockchain technology to create a medical big data ecosystem that will provide better security for sensitive genomic and personal information.
  • Swiss private bank Maerki Baumann has agreed to begin serving cryptocurrency firms.  However, unlike its Zurich counterpart Falcon Bank, Maerki does not plan on currently offering cryptocurrency asset management or custody services.
  • Softbank and Tencent, two of the largest technology companies in Asia, have reportedly backed crypto mining hardware manufacturer Bitmain.  According to company report, Bitman generated USD$1.1bn in revenues for C1Q2018 and has seen its valuation rise to USD$12bn from USD$400mm in June.
  • Turr Demeester, an economist, investor and one of the oldest commentators on Bitcoin, believes the benchmark cryptocurrency will not see new all-time highs this year.  His analysis points to a sideways market for Bitcoin and that investors may experience further downside potential given the hesitation of institutional capital to participate in the Bitcoin marketpalce, weak retail demand and a valuation dependent on on-chain activity.
  • UK Financial Conduct Authority (FCA) is looking to create a new global initiative (GFIN) to improve collaboration between different fintech technologies, something similar to blockchain.  GFIN will work with 11 different financial regulators to help fintech firms interact more easily with other financial authorities across different countries.
  • The Ukraine Central Election Commission is investigating the possibility of using blockchain technologies in elections going forward.  The commission is running tests on the NEM blockchain platform with 28 nodes to see if it is a viable option.  At the moment, the tests imply a cost of ~USD$1,227 to place a node which can be used to vote in every police station.

 

 

 

Data in Price Return; Source: Stockdio