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Cryptocurrencies largely down despite positive news headlines that two stablecoins have received regulatory approval

Sep 10, 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$6316.27 -0.01% -1.57% -13.25% USD$109,022,768,447 USD$3,800,533,438
Ethereum ETH USD$195.97 1.42% -2.96% -32.41% USD$19,965,401,239 USD$1,515,256,202
EOS EOS USD$5.01 0.4% -2.33% -22.62% USD$4,543,232,630 USD$574,694,716
Bitcoin Cash BCH USD$465.57 -0.62% -4.79% -25.9% USD$8,073,662,247 USD$299,095,687
Litecoin LTC USD$53.96 0.26% -3.83% -17.55% USD$3,142,050,594 USD$253,185,270

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
Dash DASH USD$199.33 -0.75% 1.36% -7.64% USD$1,657,016,283 USD$223,386,851
Bitcoin BTC USD$6316.27 -0.01% -1.57% -13.25% USD$109,022,768,447 USD$3,800,533,438
IOTA MIOTA USD$0.57 -0.64% -1.84% -19.21% USD$1,571,605,184 USD$36,868,549
OmiseGO OMG USD$3.42 0.45% -2.21% -22.6% USD$479,539,739 USD$26,053,727
TRON TRX USD$0.02 0.34% -2.32% -22.92% USD$1,276,259,468 USD$100,356,964

Crypto News

  • Despite Bitcoin’s recovery from the 25-day lows it saw over the weekend, near-term bearish bias has yet to be alleviated. Analysts explained, saying that while Bitcoin fell into oversold territory, the chart’s downward sloping 5-day and 10-day moving averages indicate the next move of least resistance is to the downside.  
  • Blockchain research firm and accelerator Cryptic Labs has onboarded two Nobel-winning economists to their Board of Advisors. Announced via press release Monday, the firm stated that Dr. Eric S. Maskin and Sir Christopher Pissarides will “provide insights in incentive mechanisms, game theory, and macro-economic policies.” 
  • Chain, a blockchain start-up that received funding from notable financial institutions including Visa and Nasdaq, was acquired by Lightyear.io, a startup that has been building on the Stellar Protocol. The deal, announced Monday and closed last Wednesday, will cause the two entities to combine, forming Interstellar. Chain CEO Adam Ludwin will serve as Interstellar’s CEO while creator of XRP and Stellar protocols, Jed McCaleb, will serve as Interstellar’s CTO.  
  • European Commission Vice President Vladis Dombrovskis stated after a meeting of the EU Economic and Financial Affairs Council (ECOFIN) on Friday that the council's take on cryptocurrencies is that they are here to stay, despite recent market turbulence.  
  • Lumi, a crypto wallet provider, announced the release of their “first real app” that will store crypto related collectibles. Unlike Lumi’s previous platform that operates as an extension built in to internet browsers, this application should provide a more secure solutions to storing unique and game-based collectibles in one wallet.  
  • Paxos, a blockchain trust company, detailed in a press release the launch of a U.S. dollar backed stablecoin after approval by the New York State Department of Financial Services. Dubbed ‘Paxos Standard’, the stablecoin is backed 1:1 by the dollar and operates on an Ethereum based blockchain.  
  • A research report released by consulting firm GreySpark Partners studied the ICO market and concluded that as many as 890 token sales since 2017 (nearly half of all ICOs) did not raise any funds at all. The report also indicated that 743 token sales reached the milestone of US$1 million.  
  • The Supreme People’s Court of China ruled that blockchain records will be accepted as legal evidence in court. This detail comes after the Supreme People’s Court of China posted a publication of new rules stating that blockchain records will be admissible during legal disputes on China’s new ‘internet courts’ system.   
  • Tyler and Cameron Winklevoss, creators of cryptocurrency trading platform Gemini, have received approval from the New York Department of Financial Services to launch their own stablecoin. Trading began today for the ‘Gemini Dollar’, marking Gemini’s first cryptoasset after the firm’s Bitcoin ETF was rejected for a second time by regulators in July.

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

Sources:

https://www.coindesk.com/bitcoin-retains-bear-bias-despite-recovery-from-25-day-low/ 
https://www.coindesk.com/crypto-research-firm-adds-2-nobel-prize-winners-as-advisors/ 
https://www.coindesk.com/interstellar-arrives-visa-citi-backed-chain-acquired-by-stellar-startup/ 
https://www.ccn.com/cryptocurrencies-here-to-stay-market-growing-despite-recent-turbulence-eu-watchdog-chief/ 
https://cointelegraph.com/news/crypto-wallet-provider-released-new-app-to-store-collectibles-and-game-assets 
https://cointelegraph.com/news/blockchain-trust-company-paxos-launches-ny-regulator-approved-usd-backed-stablecoin 
https://www.coindesk.com/report-nearly-half-of-all-icos-fail-to-raise-funds/ 
https://www.ccn.com/blockchain-records-will-now-be-accepted-as-legal-evidence-chinas-supreme-court-rules/ 
https://cointelegraph.com/news/winklevoss-brothers-launch-fiat-backed-stablecoin-after-new-york-regulators-green-light