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Cryptocurrencies starting the week positive in contrast to Emerging Markets Fiat Currencies

Aug 13, 2018

 

Top 5 Cryptocurrencies sorted by 24 hour Volume

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6467.58 -0.0% 2.01% -7.68% USD$111,288,890,290 USD$6,661,753,882
Ethereum ETH USD$322.26 -0.05% 0.04% -21.1% USD$32,644,639,904 USD$1,744,663,051
EOS EOS USD$5.18 0.3% 1.08% -26.12% USD$4,694,817,317 USD$631,287,897
Bitcoin Cash BCH USD$585.01 -0.37% 2.11% -16.02% USD$10,115,009,772 USD$345,920,555
Litecoin LTC USD$60.31 0.01% 0.44% -18.84% USD$3,487,317,451 USD$316,889,514

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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 -1.2% 6.67% -0.76% USD$4,450,001,359 USD$77,524,475
NEM XEM USD$0.11 -0.87% 5.74% -20.25% USD$1,032,054,533 USD$12,084,054
Monero XMR USD$97.07 -0.04% 2.37% -16.34% USD$1,579,008,873 USD$22,130,118
Bitcoin Cash BCH USD$585.01 -0.37% 2.11% -16.02% USD$10,115,009,772 USD$345,920,555
Bitcoin BTC USD$6467.58 -0.0% 2.01% -7.68% USD$111,288,890,290 USD$6,661,753,882

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  • Blockchain drones are being used in Russia to help move goods to remote cities in an effort to help deliveries to cities that are normally hard to reach by truck and train.
  • Bitmain’s upcoming IPO is coming under scrutiny as investors continue to worry about its long-term viability.  Specifically, there seem to be concerns about Bitmain’s reserve of Bitcoin Cash which is considered an illiquid position given the daily turnover in current Bitcoin Cash markets.  Bitmain’s IPO is currently being valued at USD$18bn.
  • NewsBTC speculates whether Bitcoin is a better than fiat money after the 24-25% drop in the Turkish Lira the past week.  While Bitcoin has fallen more than the Lira over the past 12-month, Bitcoin users can still withdraw Bitcoin out of their accounts without any major issues.  
  • The China Communist Party has published a blockchain guidelines book for party officials, 
  • Deviant coin releases its whitepaper ahead of the launch of its hybrid decentralized exchange and its open-source hardware wallet.  The novelty of Deviant is that it proposed to create rewards within its ecosystems without the typical centralized control of node operators.  The Deviant network offers improved speed with stealth addresses for complete anonymity, encrypted messaging for secure communication, low transaction fees, lower confirmation time, and a limited total supply. 
  • IBM files updates to a pending patent for managing a databases management system (DBMS) using a blockchain database.  The patent was initially filed in December 2017 and covers the idea of connecting a blockchain databases with a traditional central database.
  • According to ICO Rating, 1 in 2 ICOs (55%) failed during C2Q2018.  In terms of returns, this translates to an average return of -55% in comparison to an average return of +50% in C1Q2018.  However, according to Michael Spencer, Editor of Future Sin, the deterioration of ICOs in C2Q2018 is related to the quality of the blockchain projects, not investor interest.  Business Insiders highlights that investments into ICOs were ~USD$8.3bn in C2Q2018 in comparison to USD$3.3bn in C1Q2018.
  • Microsoft recent patent applications suggests the company is looking to use trusted execution environments (TEEs) within its blockchain technology.  TEEs are pre-determined types of blockchain or other security protocols in validation nodes.  TEEs will help assist in the implementation of consortium blockchain networks and will also assist in verifying blockchain transactions on networks where multiple pre-authorized entities must interact. 
  • Tether is issuing an additional batch of tokens that are estimated to be worth USD$50mm.  
  • According to the Bangkok Post, a 22-year old cryptocurrency millionaire in Thailand lost more than 5,500 BTC in an investment scam (in Thailand).
  • The Tokyo Stock Exchange (TSE) is publicly expressing concerns about the acquisition of Beat Holdings, listed on the TSE,  by Noah Ark Technologies, a Hong Kong-based cryptocurrency frim.  The TSE concerns are related to management’s bias to stay away from the cryptocurrency sector.
  • The national government of Vietnam has decided to ban imports of cryptocurrency mining equipment.  According to the Ho Chi Minh City Customs Department, 3,664 ASIC devices were imported into the city in C1H2018.  The ban of cryptocurrency mining equipment is related to a government investigation into a ICO-fraud that scammed USD$660mm from 32,000 domestic investors.  At the moment, cryptocurrencies are outlawed as payments in Vietnam after the Vietnamese Central Bank refused to accept cryptocurrencies as a recognizable form of non-cash payments.
     

Sources:

https://www.coindesk.com/chinas-communist-party-publishes-blockchain-tech-101-for-officials/

https://www.coindesk.com/where-roads-cant-reach-blockchain-drones-just-might-travel/

https://bitcoinist.com/ico-failure-rate-skyrocketing-2018/

https://www.ccn.com/asias-largest-stock-exchange-is-honestly-troubled-by-a-cryptocurrency-firm/

https://www.newsbtc.com/2018/08/13/does-50-decline-in-the-turkish-lira-prove-bitcoin-is-better-than-fiat/