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Cryptocurrencies are down across the board as Bitcoin tumbles below USD$6,500, Coinbase launching GBP£ pairs

Sep 06, 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 Volume
Bitcoin BTC USD$6442.02 0.32% -8.35% -6.96% USD$111,140,572,664 USD$6,167,180,371
Ethereum ETH USD$225.91 -0.07% -12.62% -19.48% USD$22,995,158,711 USD$2,506,753,674
EOS EOS USD$5.03 0.37% -13.73% -14.94% USD$4,561,648,003 USD$993,610,624
Bitcoin Cash BCH USD$499.72 0.28% -11.67% -6.71% USD$8,662,007,647 USD$527,226,727
Litecoin LTC USD$55.09 -0.23% -11.68% -8.0% USD$3,204,953,847 USD$389,993,361

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 Volume
XRP XRP USD$0.29 -0.19% -6.37% -13.69% USD$11,326,745,196 USD$365,446,590
Bitcoin BTC USD$6442.02 0.32% -8.35% -6.96% USD$111,140,572,664 USD$6,167,180,371
NEM XEM USD$0.1 2.02% -9.09% -2.82% USD$897,939,900 USD$17,767,580
Stellar XLM USD$0.2 0.04% -9.14% -9.91% USD$3,694,688,182 USD$71,529,326
Ethereum Classic ETC USD$11.34 0.21% -9.94% -10.91% USD$1,183,009,754 USD$238,593,379

Crypto News

  • Belgium’s top financial regulator, The Financial Services and Market Authority (FSMA) released an official warning of crypto fraud, saying “cryptocurrencies are the hype of the year” while warning investors of the risks associated with cryptos. The regulator specifically warned investors of fraud associated with cryptocurrencies. 
  • Breugel, a Belgium-based think tank, argues that the EU should create a single standard for regulating cryptocurrencies for the Euro-bloc.  The group believes there should be common regulations for crypto exchanges and ICOs. 
  • Bitmain’s AntPool has activated AsicBoost, a controversial method of mining Bitcoin more efficiently.  AsicBoost exploits a previously known weakness in Bitcoin’s proof-of-work algorithm that allows for faster mining. Bitmain notably holds a patent in China for a system that exploits the Bitcoin network’s weakness in order to increase mining productivity. 
  • Brian Kelly, founder and CEO of digital currency firm BKCM, LLC believes ICOs are here to stay but believes the ability to simply write a whitepaper and raise USD$30mm are over.  During an interview with Cointelegraph.com, Brian highlights that cryptocurrencies and blockchain technology are still in their early stages and expects we will see massive growth over the next few years.  He compares the current situation for digital currencies and distributed ledgers to Amazon.com two decades ago – starting as an online book seller and morphing into a major online retailer with a dominant video streaming platform. 
  • Cannabis publication, High Times, reported Wednesday that they would be accepting cryptocurrency for its ongoing initial public offering (IPO). High Times initially announced that it would accept bitcoin and Ethereum in the beginning of August; however, it rolled back on its announcement citing regulation issues. Despite the rollback, it appears that bitcoin has remained a payment option in the publication’s IPO.  
  • Coinbase announced Thursday of plans to roll out new crypto trading pairs for the British pound. David Farmer, general manager of Coinbase Pro, said in a blog that Coinbase Pro will begin offering trading services for the pound against Ethereum, Bitcoin Cash, Ethereum Classic, and Litecoin. Coinbase Pro already offers trading services for the pound against bitcoin.  
  • Crypto.com is launching its first cryptocurrency debit card in Singapore.  The company raised USD$25mm this past June in its an ICO.  Crypto.com will be partnering with payment provider Visa to deliver its debit card. 
  • Cryptocurrency ATMs are seeing increased popularity in Greece according to reporting by the Greek Reporter.  The first cryptocurrency ATM was installed in Grecee in mid-CY2015. 
  • Business Insider is reporting that Goldman Sachs is pausing its push to launch a cryptocurrency trading desk.  Instead, the investment bank plans to focus on the custody framework which will help it hold and track cryptocurrencies for clients. 
  • Cryptocurrency exchange, Kraken, has denied a popular rumor suggesting that the firm will be shutting down operations amid security issues. The exchange said on twitter Wednesday that they could confirm that they are not shutting down operations in any specific place, and there has been no breach of security.  
  • Polymath is partnering with Monarch Wallet to create a custody solution for ST-20 tokens.  Users who issue security token on the Polymath platform will now be able to store the POLY they earn while investors who buy security tokens. 
  • TransferGo, a payments provider focused on emerging markets, has opened a remittance network from Europe to India using Ripple’s blockchain technology.   
  • Zhongshan, a southern Chinese city, has begun utilizing a blockchain system that monitors the movements of ex-prisoners to improve the quality of ‘community correction’.  The southern Chinese city applied this blockchain system to community centers, where parolees are required to check in regularly.  

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

Sources:

https://cointelegraph.com/news/report-belgian-think-tank-calls-for-crypto-exchange-and-ico-regulations-at-eu-level 
https://www.coindesk.com/belgian-government-issues-cryptocurrency-fraud-warning/ 
https://www.coindesk.com/think-tank-report-argues-for-standardized-crypto-rules-within-eu/ 
https://www.newsbtc.com/2018/09/06/bitmains-antpool-activates-controversial-asicboost-for-faster-bitcoin-mining/ 
https://cointelegraph.com/news/brian-kelly-icos-here-to-stay-but-days-of-a-whitepaper-and-a-dream-are-over 
https://www.coindesk.com/high-times-now-says-its-accepting-cryptocurrencies-payments-for-its-ipo/ 
https://www.coindesk.com/coinbase-to-offer-new-crypto-trading-pairs-for-british-pounds-on-friday/ 
https://bitcoinist.com/crypto-com-to-begin-singapore-debit-card-rollout-as-execs-eye-loan-market/ 
https://bitcoinist.com/cryptocurrency-atms-set-to-multiply-in-greece/ 
https://cointelegraph.com/news/business-insider-goldman-sachs-drops-plans-to-open-crypto-trading-desk 
https://bitcoinist.com/goldman-sachs-shelves-bitcoin-trading-desk-plans-amidst-lingering-regulatory-uncertainty/ 
https://www.coindesk.com/crypto-exchange-kraken-denies-rumor-of-office-closure-security-breach/ 
https://www.cryptoninjas.net/2018/09/06/polymath-partners-with-monarch-wallet-to-provide-storage-of-security-tokens/ 
https://www.coindesk.com/transfergo-opens-payments-corridor-to-india-using-ripple-tech/ 
https://www.ccn.com/transfergo-launches-instant-payments-to-india-with-ripple-blockchain-tech/ 
https://www.coindesk.com/transfergo-opens-payments-corridor-to-india-using-ripple-tech/ 
https://www.coindesk.com/chinese-city-is-using-blockchain-to-track-convicts-on-parole/