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Cryptocurrencies are in the red as Ripple officially launches its xRapid platform

Oct 02, 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$6584.82 0.14% -0.2% 2.37% USD$113,922,406,652 USD$3,932,560,677
Ethereum ETH USD$228.66 -0.05% -0.51% 8.22% USD$23,396,094,270 USD$1,531,202,504
XRP XRP USD$0.56 1.04% -1.61% 23.72% USD$22,461,568,423 USD$1,196,413,220
EOS EOS USD$5.67 0.11% 0.11% 9.5% USD$5,138,062,864 USD$604,857,598
Bitcoin Cash BCH USD$535.85 -0.17% 0.42% 22.44% USD$9,313,221,478 USD$521,424,181

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
NEM XEM USD$0.11 -0.78% 10.34% 18.59% USD$988,761,739 USD$28,164,935
VeChain VET USD$0.01 0.15% 2.88% 6.16% USD$733,144,708 USD$16,000,718
Bitcoin Cash BCH USD$535.85 -0.17% 0.42% 22.44% USD$9,313,221,478 USD$521,424,181
Qtum QTUM USD$3.87 0.07% 0.38% 9.66% USD$344,593,538 USD$144,039,864
TRON TRX USD$0.02 0.04% 0.37% 7.32% USD$1,452,749,755 USD$108,441,525

Crypto News

  • According to a study by global professional services firm, Accenture, the semi-conductor industry is enjoying all-time high levels of bullish sentiment in regards to adoption in blockchain technology. A poll conducted as part of the study found that 88% of semi-conductor executives expect to integrate blockchain technology into their organization’s systems within the next 36 months. Blockchain technology’s ability to increase security while lowering costs and creating decentralization are the drivers of blockchain’s high adoption rate in the semi-conductor industry, per the study.  
  • After getting hit with charges from US regulators, Bitcoin futures firm, 1Broker, said it will begin to allow users to access a “read only” version of its platform. The United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) brought charges against 1Broker for allegedly allowing US investors to trade on 1Broker’s platform. The “read only” version of 1Broker’s website will allow users to view their account balances and transaction history 
  • At Ripple’s Swell conference on Monday, Ripple announced the official launch of its xRapid platform to handle international transactions. In the announcement, CEO Brad Garlinghouse detailed that Catalyst Corporate Federal Credit Union, Cuallix, and Mercury FX would be the first companies to implement the platform into day-to-day operations. XRapid will be used to facilitate international transactions with significantly higher transaction speeds and lower transaction costs.  
  • Following a report by the Wall Street Journal that claims USD$9 million of “dirty money” had traded through cryptocurrency exchange, ShapeShift, CEO Erik Voorhees has refuted the claims. Voorhees details that ShapeShift had worked with Wall Street Journal reporters for about five months, but under “false pretenses”. Voorhees explained that ShapeShift has a strict internal anti-money laundering program that leverages “blockchain forensics that are far more advanced than asking someone for their ‘name and address’”.  
  • In an official post on,, the developer of blockchain protocol EOS, acknowledged claims of collusion between nodes. In the post, CEO Brendan Blumer stated that the company is, “aware of some unverified claims regarding irregular block producer voting, and the subsequent denials of those claims.” Chinese crypto exchange, Huobi, is at the center of these claims after an alleged leaked spreadsheet surfaced from Huobi that contains a table titled, “node mutual voting table.” 
  • Korea Investment Partners, South Korea’s largest venture capital firm, announced Tuesday that it has invested in its first blockchain startup, Temco. Temco seeks to leverage blockchain technology to revamp South Korea’s supply chain management system, specifically for small and medium sized businesses. Korea Investment Partners has a very strong reputation in South Korea with previous early-stage investments in several billion-dollar South Korean companies, including the nation’s largest search engine and the country’s largest mobile messaging application. 
  • Kristoffer Inton, an equity analyst with Morningstar Research, stated in the Morningstar Minute research series that if Bitcoin did begin to replace gold as a safe haven asset, it would reprsent a “seismic shift” in the investment case for gold. Inton detailed that 40% of demand for gold comes from investors and a shift in this demand would be devastating to the price of gold. However, Inton does not believe digital assets like Bitcoin will replace Gold, as cryptocurrencies like Bitcoin did not score well on Morningstar’s framework for evaluating assets as stores of value.  
  • MIOTA, the cryptocurrency behind the IOTA software, ended September as the worst performer of the top 25 coins by market cap with a September return of –23.21%. MIOTA ended August on a rally to USD$0.79 but slumped to a low of USD$0.50.  
  • Philip Hammond, Great Britain’s Finance Minister, believes that blockchain technology may be the key to solving the issue of cross border trade with Ireland after Great Britain leaves the European Union. Great Britain has already agreed to sign a comprehensive free trade agreement upon leaving the European Union, however, the agreement would require the identification of products and their countries of origins to ensure compliance, which is where blockchain technology may be a solution.  
  • While sitting down for an interview on CNBC’s Fast Money with Bob Pisani, Chris Giancarlo, chair of the US Commodities Futures Trading Commission, said cryptocurrencies are here to stay. In the interview, Giancarlo state, “We’re very focused on the fraud and manipulation aspects of cryptocurrency markets right now. In fact, last week, we just won a big victory in Boston federal courts that  certifies our authority to prosecute fraud and manipulation in the crypto space and we’ve been very active at it.” 

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