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Cryptocurrencies are mixed after yesterday’s meltdown with Bitcoin below USD$6,500, Coinbase and BlackRock exploring launching a joint Bitcoin ETF

Sep 07, 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$6441.41 0.35% 0.03% -7.64% USD$111,142,152,332 USD$4,537,283,992
Ethereum ETH USD$221.99 0.8% -1.79% -20.89% USD$22,600,962,086 USD$1,693,342,702
EOS EOS USD$5.06 0.55% 0.16% -18.71% USD$4,581,431,041 USD$718,006,201
Bitcoin Cash BCH USD$507.74 0.72% 1.33% -5.9% USD$8,801,864,461 USD$368,549,015
XRP XRP USD$0.29 0.6% 2.61% -11.39% USD$11,669,865,202 USD$260,864,646

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
Stellar XLM USD$0.2 0.77% 4.13% -6.64% USD$3,850,382,562 USD$63,830,382
Ethereum Classic ETC USD$11.78 0.7% 3.5% -7.63% USD$1,229,738,935 USD$183,867,803
Dash DASH USD$176.97 1.64% 3.14% -5.65% USD$1,470,085,053 USD$187,842,195
NEO NEO USD$19.55 1.1% 2.89% -0.82% USD$1,270,541,907 USD$91,124,556
IOTA MIOTA USD$0.57 1.18% 2.86% -20.08% USD$1,581,147,505 USD$43,805,603

Crypto News

  • After making a controversial move to hold themselves to know-your-customer (KYC) regulations, ShapeShift exchange is facing criticism from users across the crypto industry. In explaining their decision, CEO Erik Voorhees explained that the idea of requiring customers to hand over private information is something the exchange has struggled with for a long time, but they believe this is the best decision to help the firm navigate the regulatory environment.  
  • Aussie fintech startup Bamboo is hoping to bring crypto investing to the masses by permitting users to invest spare change from electronic transactions into cryptocurrency portfolios, resembling the structure developed by Raiz Investment App (formerly Acorns).  Bamboo is hoping to launch its app in Australia and the US later this year.  The firm is managed by Colton Dillon and Taylor Culbertson, co-founders of Raiz’s US business. 
  • Bitcoin’s market capitalization is back to 55% of total digital currency market capitalization, the highest level since December 2017. 
  • Bitcoin Cash successfully navigated a stress test on September 1, where the network was flooded with 2.1mm transactions.  The “stress test” is a community driven test of the BCH mainnet and its services with the goal of testing “millions of minimum fee transactions” within 24 hours in order to prove the Bitcoin Cash blockchain’s capacity and scalability. 
  • Bittrex announced it is partnering with Cryptrofacil to launch a cryptocurrency trading exchange for Latin America.  The new exchange will be based out of Uruguay. 
  • Coinbase is allegedly exploring the potential for a Bitcoin ETF with BlackRock.  Business Insider is reporting that two firms are examining the potential to launch a joint product though BlackRock as formally stated it has no interest in becoming a crypto fund issuer itself. 
  • Consensys is partnering with online education provider Coursera to offer a coure on blockchain technology.  The course will be called Block: Foundations and Use Cases and will help students develop the skills needed to properly understand how distributed ledger technology works and how it is changing different industries. 
  • The Credits platform team, who specialize in providing a variety of services in launching DApps, announced on Tuesday in a Medium post that they have joined Lenovo’s New Vision Technology project. The goal of the project is to develop an Internet of Things network and AR/VR software that could be implemented across a variety of industries, such as fintech and logistics.  
  • Fundstrat’s Tom Lee is arguing that the recent sell-off in Altcoins offers an attractive entry point for investors.   
  • Goldman Sachs CFO Martin Chavez is saying news that the bank is abandoning plans to open its cryptocurrency trading desk is “fake news”.  Chavez clarified that Goldman Sachs thinks they need to first develop a custody solution before rolling out a strategy to physically trade Bitcoin. 
  • Cryptocurrency exchange Huobi is partnering with Singapore’s National Trading Union Congress (NRUC) to promote education on blockchain technology. 
  • A malware that targets Bitcoin ATMs is on sale in underground markets for approximately US$25,000 according to Trend Micro. The malware exploits a service vulnerability and utilizes Near-Field Communication or pre-written cards that are provided to the buyers of the malware.  
  • The creator of the first proof-of-stake based cryptocurrency, who goes by the pseudonym Sunny King, revealed in an interview with CoinDesk that he is working on a new supernode proof-of-stake concept. The new proof-of-stake Sunny described would utilize specialized hardware and potentially be better suited for highspeed blockchain transactions.  
  • A high-ranking official of Ukraine's Finance Ministry, Sergey Verlanov, explained in an interview that Ukrainians are expected to pay the regular 19.5% income tax on profits from crypto related activities. Verlanov went on to add that while cryptocurrencies have no official legal status in Ukraine, they are common items deemed intangible assets. 
  • Robinhood, the mobile zero-fee investment app, revealed Thursday that the firm is actively looking for a CFO while citing ‘definite’ plans for the firm to go public. Robinhood CEO Baiju Bhatt expanded, saying, “it’s definitely on the horizon, not in the immediate term, but that’s something we are thinking about.” 
  • A survey by YouGov Omnibus finds that half of American Millennials are interested in using cryptocurrencies.  The survey covered 1,202 persons and according to the results, 79% of the respondents knew of at least one cryptocurrency and 71% knew of Bitcoin.   
  • The Winklevoss twins have won a patent for a cold storage method of protecting crypto keys that involves air-gapped computers, geographically remote vaults, plastic cards, and papyrus. The patent, awarded on Tuesday, was awarded to the brothers’ firm, Winklevoss IP, LLC by the U.S. Patent and Trademark Office.  
  • Wyre, a crypto payments startup, has acquired Hedgy, a venture capitalist backed bitcoin smart contract development firm. Wyre hopes to leverage the acquisition of Hedgy in order to wider their crypt financial ecosystem, specifically by offering more financial instruments, such as forwards, swaps, and more.  

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

Sources:

https://www.ccn.com/crypto-exchange-shapeshift-sees-criticism-for-mandating-memberships-with-kyc-norms/ 
https://www.ccn.com/australian-startup-to-enable-users-invest-in-crypto-with-spare-change/ 
https://www.ccn.com/bitcoin-dominance-hits-55-as-crypto-market-struggles-to-recover-convincingly/ 
https://cointelegraph.com/news/bitcoin-cash-stress-test-results-21-million-transactions-cause-no-surge-in-fees 
https://cointelegraph.com/news/bitcoin-cash-stress-test-results-21-million-transactions-cause-no-surge-in-fees\ 
https://bitcoinist.com/coinbase-explores-a-crypto-etf-with-wall-street/ 
https://cointelegraph.com/news/consensys-partners-with-online-education-platform-to-launch-blockchain-course 
https://www.newsbtc.com/2018/09/07/fundstrats-lee-virtually-all-crypto-are-down-70-from-ath-positive-signal/ 
https://bitcoinist.com/sharepost-newest-survey-consumers-and-investors-are-bullish-regarding-crypto-industry/ 
https://www.ccn.com/80-of-americans-are-aware-of-bitcoin-study-reveals/ 
https://cointelegraph.com/news/goldman-sachs-cfo-recent-reports-about-crypto-trading-desk-are-fake-news 
https://www.ccn.com/crypto-giant-huboi-partners-singapore-trade-union-to-promote-blockchain-skills/ 
https://www.coindesk.com/the-creator-of-proof-of-stake-thinks-he-finally-figured-it-out/ 
https://www.coindesk.com/crypto-and-stock-trading-startup-robinhood-is-eyeing-an-ipo/ 
https://www.ccn.com/malware-targeting-bitcoin-atms-goes-on-sale-for-us25000/ 
https://cointelegraph.com/news/lenovo-partners-with-blockchain-platform-to-develop-its-iot-and-ar-vr-hybrid-software 
https://news.bitcoin.com/ukrainians-advised-to-pay-19-5-tax-on-crypto-incomes/ 
https://cointelegraph.com/news/robinhood-plans-to-launch-ipo-seeks-cfo-amid-audits-from-regulators 
https://cointelegraph.com/news/survey-half-of-american-millennials-interested-in-using-crypto 
https://www.coindesk.com/winklevoss-brothers-win-patent-for-crypto-key-storage-system/ 
https://www.coindesk.com/payments-startup-wyre-acquires-bitcoin-smart-contract-developer/