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Bitcoin Still Positive With Other Major Cryptocurrencies in the Red As Deadline for SEC Decision On ProShares Bitcoin ETF Approaches

Aug 20, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6487.27 0.02% 0.44% 3.43% USD$111,718,260,484 USD$3,457,982,074
Ethereum ETH USD$287.29 -0.42% -4.36% -0.39% USD$29,144,930,134 USD$1,399,262,625
EOS EOS USD$5.08 -0.35% -3.18% 8.75% USD$4,606,308,489 USD$570,138,679
Bitcoin Cash BCH USD$542.74 -0.55% -4.15% 1.39% USD$9,391,333,183 USD$363,914,661
XRP XRP USD$0.34 1.42% -0.74% 21.18% USD$13,464,878,380 USD$296,649,834

Source: CoinMarketCap

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change 

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Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Monero XMR USD$98.68 -1.09% 1.32% 9.97% USD$1,611,901,470 USD$20,676,453
Bitcoin BTC USD$6487.27 0.02% 0.44% 3.43% USD$111,718,260,484 USD$3,457,982,074
XRP XRP USD$0.34 1.42% -0.74% 21.18% USD$13,464,878,380 USD$296,649,834
Stellar XLM USD$0.22 -1.26% -1.34% -1.05% USD$4,164,787,543 USD$54,359,988
TRON TRX USD$0.02 -0.26% -1.37% 8.65% USD$1,432,123,268 USD$96,744,238

Source: CoinMarketCap 

Crypto News

  • The CEO of the of the new digital assets platform being launched by the Intercontinental Exchange (ICE), Bakkt, stated today that the cryptocurrency trading platform won’t support trading on margin or the use of outright leverage. 
  • Bitcoin developers Alex Morcos and Matt Corallo from Chaincode Labs are at a hackathon for the Lightning Network from October 22 to 26. Chaincode’s goal is to help more developers get comfortable building new apps for the new protocol with the hope that a greater volume of apps using the Lightining Network will help Bitcoin go “mainstream”. 
  • According to CoinDesk, the SEC has until this Thursday, August 23rd to make a decision on the ProShares Bitcoin ETF and ProShares Short Bitcoin ETF.  Unlike the Winklevoss Twins application for a Bitcoin ETF (or the VanEck-SolidX proposal), the ProShares ETFs will hold Bitcoin Futures that trade on the CME of CBOE futures exchange.   
  • Gartner, in its latest reports, “Hype Cycle for Emerging Technologies”, suggest interest in blockchain technology is decelerating.   
  • Norwegian tax authorities are urging citizens use more dilligence after news that two domestic miners paid NOK74,000 in taxes on holdings of 34 BTC.   
  • Seven Stars Cloud Group, Chinese a blockchain and AI technology company, signed an exclusive contract with National Transportation Capacity Ltd (NTS), the largest electric bus operator in China, that will permit them to issue fixed income lease financing-based products.  The arrangement should help Seven Stars raised USD$24bn. 
  • Japanese Financial Giant SBI Holdings is making a new investment in a cryptocurrency exchange that is currency under investigation by the Japanese Financial Services Agency (FSA). The cryptocurrency trading platform, LastRoots, is among the unlicensed cryptocurrency exchanges that are being scrutinized by the FSA following the USD$520mm hack of Coincheck in January 2018. 
  • The Shanghai Stock Exchange (SSE) and Insurance Asset management Association of China have agreed to work together to improve local insurance and pension industries through the use of blockchain technology. SSE, the fourth largest stock exchange in the world, will be partnering with IAMAC, Changjiang Pension Insurance Company, Tokyo Maritime Sunshine, and others. 
  • A group of lawmakers, judges and industry experts in South Korea are forming a new group to discuss legal issues. Blockchain Law Society will hold its founding conference on August 24th where participants will be able to discuss regulatory issues surrounding blockchain. 
  • The Winkelvoss Twins, through their cryptocurrency trading platform Gemini, are partnering with Bittrex and bitFlyer USA to form the Virtual Commodity Association Working Group (VCAWG). The VCAWG will be a self-regulatory organization (SRO) that will try to institute and enforce industry standards for the emerging cryptocurrency industry.   


Source: Stockdio

Sources:

https://www.coindesk.com/bakkt-ceo-crypto-trading-platform-wont-support-margin-trading/ 
https://www.coindesk.com/bitcoins-lightning-network-is-getting-its-own-hacker-camp/ 
https://www.coindesk.com/sec-faces-thursday-deadline-for-proshares-bitcoin-etf-decision/ 
https://www.coindesk.com/blockchain-enters-trough-of-disillusionment-on-gartners-hype-scale/ 
https://bitcoinist.com/norway-tax-office-crypto-gains-miners-see-millions-profits/ 
https://www.coindesk.com/blockchain-firm-to-raise-24-billion-for-electric-bus-upgrades-in-china/ 
https://www.coindesk.com/sbi-holdings-again-invests-in-crypto-exchange-under-scrutiny/ 
https://cointelegraph.com/news/japan-finance-giant-sbi-makes-new-investment-in-lastroots-crypto-exchange-will-aid-license-acquisition 
https://cointelegraph.com/news/shanghai-stock-exchange-partners-with-major-insurance-firms-to-improve-industry-with-blockchain 
https://www.coindesk.com/district-judge-forms-blockchain-law-study-group-in-south-korea/ 
https://www.newsbtc.com/2018/08/20/major-crypto-exchanges-collaborate-to-create-self-regulatory-organization/ 
https://bitcoinist.com/winklevoss-gemini-exchanges-sro/