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Major cryptocurrencies are bouncing back this morning after SEC commissioners say they will review SEC staff decision to reject ProShares Bitcoin ETF proposal

Aug 24, 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$6566.43 0.11% 1.85% 1.02% USD$113,127,126,462 USD$3,656,094,468
Ethereum ETH USD$277.84 0.09% 1.84% -7.57% USD$28,207,739,694 USD$1,313,120,356
EOS EOS USD$4.93 0.02% 3.25% -0.29% USD$4,466,627,339 USD$508,245,481
Bitcoin Cash BCH USD$531.69 -0.04% 2.35% -2.53% USD$9,203,754,561 USD$292,607,568
XRP XRP USD$0.33 0.09% 1.12% 2.81% USD$12,875,365,091 USD$223,981,262

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
OmiseGO OMG USD$3.84 0.08% 8.33% -5.42% USD$538,006,622 USD$22,111,317
NEO NEO USD$17.77 1.13% 5.52% -2.06% USD$1,154,803,017 USD$49,852,781
TRON TRX USD$0.02 -0.53% 5.47% -2.27% USD$1,382,586,508 USD$91,626,027
NEM XEM USD$0.1 -0.1% 4.01% -7.92% USD$906,331,978 USD$8,421,383
EOS EOS USD$4.93 0.02% 3.25% -0.29% USD$4,466,627,339 USD$508,245,481

Crypto News

  • Alibaba’s Ant Financial is working with Chinese regulators to examine P2P cryptocurrecny trading on Alipay.   
  • Chinese regulators issued a warning Friday about business schemes looking to raise funds illegally by claiming to be related to blockchain and/or cryptocurrency projects.  The People’s Bank of China, the Ministry of Public Security, the Banking Regulatory Commission, the General Administration of Market Supervision and the Central Network Information Office issued a joint statement condemning these blockchain projects, notably those that have operations using overseas IP addresses but solicit investment from Chinese residents. 
  • Coinsquare, a Canadian cryptocurrency exchange, has announced it is entering the European market. Coinsquare will support trading in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, Dogecoin, and Dash. In addition, Coinsquare will offer fiat to crypto conversion in all the aforementioned coins. 
  • A report from Arizona State University suggested that mining blocks of 896 kB or greater on the Dash network are uneconomical. The analysis was conducted as part of a USD$350k partnership with Dash to determine the scaling challenge and potential opportunities for the Dash blockchain network. The report assumes a transaction fee of  .01 DASH per MB fee density, a mining reward of 1.67 DASH and an economic orphan rate increase of 2.15% per MB. It is feasible for the Dash network to scale to block sizes of 10MB when using the xthin block propagation protocol while it could scale to between 6MB and 8MB block sizes when employing the compact block propagation protocol. The Arizona State researchers recommend that the coded limit on block size not exceed 5MB while limiting the capacity to under 890KB for every block. 
  • Ernst & Young has announced it has acquired the software behind a new cryptocurrency investment system. The firm Elevated Consciousness has created a program, Crypto-Asset Accounting and Tax (CAAT), which permits users to invest in cryptocurrency (both funds and individual coins).    
  • Ethereum stakeholders will participate in a live-streaming event hosted by the Ethereum Foundation to address platform issues and challenges, ahead of the network's upgrade in October. Difficulty bomb, Ether issuance and ASIC resistance are issues expected to be brought up during the community “townhall”.  
  • Factom, a blockchain technology that supports auditing and securing data records, has filed a blockchain patent for a system enabling document validation on the blockchain.  The system will secure sensitive financial and personal information protected with a hashing algorithm that splits the sensitive information into different shares and then distributes the shares across different blockchains for added security. The data is essentially encrypted and then stored in separate blockchain data vaults, a design that could prove very highly secure if well-implemented. 
  • Indiegogo, an international crowdfunding firm, will be using real estate backed tokens to raises funds from accredited investors. According to the online webiste The Verge, the  digital token, called Aspen Coin, is registered with the SEC and will be available for purchase with U.S. dollars, as well as major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). 
  • The Russian city of Leningrad as built the largest cryptocurrency mining farm in Russia (total cost USD$7.3mm) with more than 3,000 mining machines installed and 20mW of energy capacity.
  • Adult entertainment site Pornhub has announced a partnership with PumaPay, a cryptocurrency payment and billing startup, to let customers make payments in cryptocurrencies.  
  • The SEC announces it will review its decision on Wednesday to reject 9 Bitcoin ETF proposal, including the two proposals from ProShares. SEC Chairman Jay Clayton and the commissioners will review each application individually to determine whether SEC staff ruled fairly. 
  • The Singapore Stock Exchange is working with the Monetary Authority of Singapore (MAS) to roll-out a blockchain technology that will permit Delivery vs. Payment (DvP) stocks settlement to move to a distributed ledger. The objective of the partnership is to move DvP settlement to blockchain-based smart contracts. 
  • The UK government has directed the Department for International Trade announced that Entrepreneur First (EF), a pre-seed investment company, to support blockchain startups.  

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://www.coindesk.com/alibaba-affiliate-to-step-up-scrutiny-over-crypto-otc-trading-using-alipay/ 
https://www.ccn.com/crackdown-continues-chinese-authorities-issue-joint-warning-on-illegal-crypto-fundraising/ 
https://www.coindesk.com/chinese-watchdogs-blast-illegal-crypto-fundraising-in-new-joint-warning/ 
https://www.newsbtc.com/2018/08/24/canadas-biggest-crypto-exchange-moves-to-europe-with-ripple-to-fiat-support/ 
https://bitcoinist.com/ernst-young-investment-software/ 
https://www.coindesk.com/a-phone-call-could-impact-ethereums-future-and-its-happening-today/ 
https://www.ccn.com/factom-seeks-patent-for-secret-data-sharing-on-a-blockchain/ 
https://cointelegraph.com/news/crowdfunding-firm-indiegogo-to-sell-real-estate-backed-security-tokens 
https://bitcoinist.com/russias-leningrad-region-unveils-the-largest-crypto-mining-farm/ 
https://cointelegraph.com/news/pornhub-partners-with-pumapay-to-accept-crypto-as-payments 
https://www.coindesk.com/sec-says-it-will-review-bitcoin-etf-rejections/ 
https://cointelegraph.com/news/us-sec-to-review-rejection-of-nine-bitcoin-etf-applications 
https://bitcoinist.com/sec-will-review-wednesday-decision-to-reject-btc-etf-proposals/ 
https://www.coindesk.com/singapore-stock-exchange-taps-blockchain-for-faster-settlement/ 
https://www.coindesk.com/uk-government-backed-accelerator-will-sponsor-blockchain-startups/