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Cryptocurrencies' Gains Have Turned to Losses As The SEC Decision On The ProShares Bitcoin ETF Proposal Is Expected Tomorrow

Aug 22, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

On Mobile/Tablet scroll to the right

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6375.61 -0.34% -1.49% -0.66% USD$109,820,236,227 USD$4,351,826,988
Ethereum ETH USD$267.81 -2.03% -4.25% -7.87% USD$27,180,563,652 USD$1,395,531,855
EOS EOS USD$4.64 -0.48% -4.4% -1.82% USD$4,204,460,816 USD$547,058,501
Bitcoin Cash BCH USD$518.51 -0.06% -2.22% -0.66% USD$8,973,962,188 USD$305,818,691
XRP XRP USD$0.32 -0.39% -4.36% 10.1% USD$12,450,061,069 USD$266,906,480

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

On Mobile/Tablet scroll to the right

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6375.61 -0.34% -1.49% -0.66% USD$109,820,236,227 USD$4,351,826,988
Bitcoin Cash BCH USD$518.51 -0.06% -2.22% -0.66% USD$8,973,962,188 USD$305,818,691
Litecoin LTC USD$54.79 0.32% -2.49% -2.9% USD$3,175,804,746 USD$216,128,637
Qtum QTUM USD$4.1 -0.55% -2.86% -9.51% USD$364,519,929 USD$100,344,517
Ethereum ETH USD$267.81 -2.03% -4.25% -7.87% USD$27,180,563,652 USD$1,395,531,855

Crypto News

  • This morning’s USD$300mm move in one minute in Bitcoin was related to the release of 100mm new tokens of Tether. The Tether funds were sent through Bitfinex. 
  • BitMEX has rented the most expensive skyscraper in Hong Kong, raising its profile as one of the leading cryptocurrency exchanges in the world. BitMEX is renting the 45th floor of the Cheung Kong Center, the most highly valued skyscraper in Hong Kong. 
  • The Chinese government is banning commercial crypto and blockchain events after pressuring local financial authorities to speed up the development of blockchain technology.  Crypto commentators suggest this is part of a strategy to enable stricter capital controls across the country by making it difficult for local crypto investors to use cryptocurrencies as a vehicle to move funds outside of the country. 
  • Dash is seeing wide adoption in Venezuela as hyperinflation is forcing merchants and consumer to adopt different forms of currencies. In comparison to Bitcoin, Dash offers much faster and cheaper transaction times and is currently being used by merchants such as Subway and Calvin Klein in Venezuela. 
  • A survey by Deloitte finds that 70% of executives view themselves as either “excellent” or “experts” with blockchain technology. The survey covered 1,053 senior executives across Canada, China, Germany, France, Mexico, United Kingdom and the United States. All respondents work at companies with annual revenue in excess of USD$500mm.   
  • MetLife Asia affiliate LumenLab has successfully tested a blockchain-powered insurance product, Vitana, that offers financial protection to pregnant women with gestational diabetes. Vitana connects customers’ electronic medical records to mobile devices. Policies are issued within minutes and are sent to the mobile phones. Automatic payouts are made should customers receive a diagnosis, without requiring access to customer files. 
  • Several Indian municipal corporations will begin using blockchain technology to issue birth certificates. The local governments will be using a platform developed by Lynked.World to simplify the engagement and identification processes in India by permitting users to maintain control of a digital repository that will be used to verify personal, educational, and professional information through a P2P network. 
  • Fintech startup Revolut is launching a new metal debit card to premium customers in the UK that will allow them to withdraw up to 1% cashback in either fiat or cryptocurrency on transactions outside Europe, or 0.1% of any transaction within Europe. Revolut is a prepaid debit card service that permits UK customers to receive, send, and withdraw money in different currencies at real exchange rates. At the moment, Revolut only supports five cryptocurrencies; Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. The company also allows the in-app exchange of 25 fiat currencies and enables travelers to spend a total of 150 fiat currencies abroad without fees. 
  • Ping An Insurance, a Chinese insurance company and one of the largest insurance companies in the world, released a white paper advocating for blockchain technology, artificial intelligence, big data and cloud computing.   
  • Union Bank AG, a Liechtenstein bank, is issuing its own security token and native cryptocurrency in hopes of becoming the world's first blockchain investment bank.   
  • An article in Wired today slams the Venezuelan government-back Petro as a stunt launched by a “centralized and debt-saddled" country. 

Source: Stockdio

Sources:

https://www.ccn.com/this-mornings-bitcoin-price-pump-was-fueled-by-100-million-in-new-tethers/ 
https://www.newsbtc.com/2018/08/22/bitmex-rents-worlds-most-expensive-skyscraper-rising-status-of-crypto-exchanges/ 
https://www.newsbtc.com/2018/08/22/china-bans-all-crypto-events-after-spending-3-billion-to-fund-blockchain-startups/ 
https://www.ccn.com/does-beijings-commercial-crypto-ban-signal-a-further-govt-crackdown/ 
https://bitcoinist.com/china-officially-bans-crypto-activities/ 
https://www.newsbtc.com/2018/08/22/dash-sees-surging-adoption-rates-in-hyperinflation-stricken-venezuela/ 
https://bitcoinist.com/new-survey-over-70-of-executives-think-they-are-experts-on-blockchain-technology/ 
https://www.coindesk.com/metlife-asia-affiliate-trials-blockchain-insurance-product/ 
https://www.newsbtc.com/2018/08/22/indian-municipal-corporations-issue-birth-certificates-blockchain/ 
https://www.ccn.com/revolut-launches-metal-debit-card-with-cashback-in-cryptocurrency/ 
https://www.newsbtc.com/2018/08/22/fintech-startup-revolut-launches-cryptocurrency-supported-debit-card/ 
https://cointelegraph.com/news/china-insurance-giant-ping-an-releases-white-paper-on-smart-cities-advocates-for-blockchain 
https://cointelegraph.com/news/liechtenstein-bank-issues-own-crypto-stable-coin-aims-to-become-blockchain-investment-bank 
https://cointelegraph.com/news/experts-venezuelas-petro-is-a-smokescreen-backed-by-centralized-debt-crippled-entity