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Cryptocurrencies continue losing streak as Ethereum touches new 13-month low

Sep 12, 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$6340.47 -0.11% 0.7% -7.54% USD$109,463,785,439 USD$3,998,427,523
Ethereum ETH USD$181.41 0.48% -1.05% -25.27% USD$18,488,741,484 USD$1,862,975,988
EOS EOS USD$4.93 -0.08% 1.29% -9.24% USD$4,465,473,449 USD$709,374,126
Bitcoin Cash BCH USD$428.48 -0.34% -2.05% -20.21% USD$7,431,889,223 USD$334,965,271
XRP XRP USD$0.27 -0.15% 2.6% -8.42% USD$10,654,931,726 USD$289,041,587

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
OmiseGO OMG USD$3.23 -0.53% 2.83% -18.85% USD$452,622,064 USD$29,567,691
VeChain VET USD$0.01 1.88% 2.72% -18.96% USD$748,252,361 USD$22,999,553
XRP XRP USD$0.27 -0.15% 2.6% -8.42% USD$10,654,931,726 USD$289,041,587
Stellar XLM USD$0.2 -0.37% 1.54% -4.5% USD$3,763,491,632 USD$98,985,685
EOS EOS USD$4.93 -0.08% 1.29% -9.24% USD$4,465,473,449 USD$709,374,126

Crypto News

  • Anthony Di Lorio, one of cryptocurrency’s most prominent entrepreneurs, is launching a new ‘all-in-one' crypto wallet aimed at becoming the most versatile app in the crypto ecosystem. Dubbed Jaxx Liberty, De Lorio launched the wallet today after several months of beta testing and called it, “almost like an app store” where users, “do not have to send money outside of a single system.” 
  • Cryptocurrency exchange, Seed CX, raided about USD$15 million in its Series B funding round, Coindesk reported Wednesday. Seed CX offers trading and settlement services for derivatives and spot markets under the Commodity Futures Trading Commission’s authority. After the Series B round, Seed CX’s total funds raised has reached USD$25 million.  
  • Ether (ETH) shorts reached a new high today with 248,247 shorts after setting a record high last Friday with 247,611 shorts. This shorts record comes as ETH touched a 13-month low of about USD$170.41 today. According to Coindesk, ETH shorts have risen 200% in the last four weeks.  
  • After stablecoins Gemini Dollar and Paxos Standard were approved by regulators earlier this week, a University of Berkeley professor said stablecoins are not viable just because they are pegged to reserves of fiat currency. The professor expanded further, saying just because stablecoins remove speculation and volatility does not make them viable.  
  • Huobi Japan Holding Ltd, a subsidiary owned by Huobi Global, has acquired a majority stake in Japanese crypto exchange BitTrade, one of just 16 regulated crypto exchanges in the country. Acting President of Huobi Japan, Haiteng Chen, was named as the chairman of BitTrade while Chris Lee, who has held previous executive roles with OkCoin, was appointed as independent director. Reported Wednesday, Huobi Japan will, “aggressively work to scale up the platform.”  
  • India’s Union Cabinet, which is an executive decision-making body made up of senior government officials and led by the prime minister, said it would allow the country’s export-import bank (Exim Bank) to conduct research into blockchain technology. Exim Bank has already signed a Memorandum of Understanding to research this concept alongside Brazil, China, Russia, and South Africa.  
  • The People’s Bank of China is backing a new trade and finance blockchain platform that has already started its pilot operations, as reported by news outlet 21jingi. This platform is reportedly being backed jointly by the People’s Bank of China with the Central Bank Shenzhen Central Branch. The blockchain platform should help to reduce trade financing costs for small and medium Chinese business from about 8% to below 6%. 
  • The Supreme Court of India has sent a delegation of government officials to Japan, the UK, and Switzerland with a task of studying cryptocurrency regulations in other markets that possess digital asset exchanges. This comes as India’s Supreme Court is fielding the crypto exchange industry’s case against the Indian central bank’s heavy-handed crypto regulation.  

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

Sources:

https://www.coindesk.com/jaxx-liberty-crypto-wallet-app/ 
https://www.coindesk.com/bain-capital-leads-15-million-funding-round-for-regulated-crypto-exchange/ 
https://www.coindesk.com/ether-shorts-hit-another-record-high-as-price-sinks/ 
https://cointelegraph.com/news/not-viable-berkeley-professor-takes-dim-view-of-stablecoins-in-new-critique 
https://cointelegraph.com/news/huobi-buys-majority-stake-in-japanese-licensed-crypto-exchange-bittrade 
https://www.coindesk.com/indian-government-approves-banks-blockchain-research/ 
https://cointelegraph.com/news/chinas-central-bank-backed-blockchain-trade-finance-platform-pilot-kicks-off-in-shenzhen 
https://www.ccn.com/is-india-ready-to-legalize-crypto-officials-visit-japan-uk-to-study-policies/