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Cryptocurrencies continue to rally on news of Morgan Stanley offering Bitcoin swaps, Ethereum recovers to over $200

Sep 13, 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$6483.81 0.23% 2.23% -0.04% USD$111,951,061,498 USD$4,218,028,607
Ethereum ETH USD$205.83 1.46% 13.43% -9.52% USD$20,982,357,889 USD$2,230,942,688
EOS EOS USD$5.43 0.81% 10.28% 5.71% USD$4,921,594,763 USD$697,209,950
Bitcoin Cash BCH USD$467.73 3.29% 9.08% -8.82% USD$8,113,489,412 USD$381,098,075
XRP XRP USD$0.28 0.88% 4.42% -6.58% USD$11,115,621,830 USD$306,060,758

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
Ethereum ETH USD$205.83 1.46% 13.43% -9.52% USD$20,982,357,889 USD$2,230,942,688
EOS EOS USD$5.43 0.81% 10.28% 5.71% USD$4,921,594,763 USD$697,209,950
TRON TRX USD$0.02 0.95% 9.27% -6.71% USD$1,300,184,287 USD$123,131,597
Bitcoin Cash BCH USD$467.73 3.29% 9.08% -8.82% USD$8,113,489,412 USD$381,098,075
Monero XMR USD$111.91 -0.02% 9.05% -2.81% USD$1,835,696,323 USD$43,456,884

Crypto News

  • According to a report by the World Economic Forum titled, “Trade Tech – A New Age for Trade and Supply Chain Finance”, technologies like blockchain could generate over USD$1 trillion in new trade over the next ten years. Trade finance would benefit from blockchain innovation as it has historically relied on legacy technology that is inefficient.  
  • After the Reserve Bank of India (RBI) filed an affidavit Wednesday in the Supreme Court to clarify its stance on cryptocurrencies, the central bank told courts that the constitution has not defined any legal system for virtual currencies. Due to provisions like The Coinage Act and The RBI Act, existing legal systems are not able to recognize cryptos as either a currency or money, meaning they are not a valid payments system.  
  • Data from Coin Dance reveals that cryptocurrency trading volume has spiked in not only Venezuela, but Argentina as well. Argentinian users exchanged 6.9 million pesos with digital assets in the week ending September 9th, setting a record for the region. Venezuela had its second highest week, in terms of crypto trading volume, exchanging almost 295 million bolivars.  
  • Despite cryptocurrencies being banned in Zimbabwe, citizens are running towards cryptos as the country is faced with a shortage of foreign currency and surrogate currency, called bond notes. As a result, many Zimbabweans have begun to use cryptocurrencies like bitcoin as means of payment.  
  • FOAM, a decentralized application (dapp) that aims to build a reliable world map using smart contracts, went live Thursday morning. CEO Ryan John King discussed FOAM, saying that people believe location and GPS is a solved problem, but the mapping services so many people use every day is controlled by the governments and military organizations, and is ultimately vulnerable and unreliable. FOAM’s solution is to put the work of cartography on the shoulders of individual users using a cryptographic technique called proof of location.  
  • A marketplace for crowdfunding paramilitary mujahideen (those engaged in jihad) has been uncovered on the dark web. Only accessible through a Tor browser, users can send Bitcoin or Monero to SadaqaCoins to help aspiring jihadists purchase various equipment, including guns, ammo, and vehicles. The site claims to have not raised any funds so far from cryptocurrency donations after operating for a month.  
  • United States crypto wallet and blockchain security firm, BitGo, has been awarded a state trust company charter from South Dakota’s Division of Banking, effectively making BitGo a qualified custodian for cryptocurrencies. As a result, BitGo will be subject to know-your-customer and anti-money-laundering regulations. CEO Mike Belshe went on to say that secure crypto custodians are, “a missing piece for infrastructure. Hedge funds need it, family offices need it, and they can’t participate in digital currency until they have a place to store it that’s regulated.” 

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

Sources:

https://cointelegraph.com/news/blockchain-can-add-1-trillion-to-world-trade-by-2028-says-world-economic-forum 
https://www.ccn.com/current-legal-system-cant-recognize-bitcoin-indias-central-bank-tells-supreme-court/ 
https://bitcoinist.com/not-just-venezuela-bitcoin-south-america/ 
https://news.bitcoin.com/faced-with-cash-and-forex-shortages-zimbabweans-turn-to-bitcoin-even-when-its-banned/
https://www.coindesk.com/foam-is-live-decentralized-world-map-launches-on-ethereum/ 
https://www.ccn.com/crypto-crowdfunding-terrorists-marketplace-for-jihadist-crowdfunding-found-on-dark-web/ 
https://cointelegraph.com/news/us-blockchain-security-co-bitgo-gets-regulators-green-light-to-become-crypto-custodian