blog

Latest from the Quantamize Blog

Cryptocurrency prices fall throughout the day as pre-fork BCH trading on Poloniex indicates that investors favor Bitcoin ABC

Nov 08, 2018

Top 5 Cryptocurrencies sorted by 24 hour Volume

On Mobile/Tablet scroll to the right

Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$6511.9 0.36% -0.25% 1.95% USD$113,084,592,451 USD$4,510,536,209
Ethereum ETH USD$216.07 0.64% -1.42% 8.41% USD$22,271,620,142 USD$1,626,685,179
Bitcoin Cash BCH USD$602.45 1.07% -4.04% 42.09% USD$10,511,009,632 USD$899,542,418
EOS EOS USD$5.59 0.69% -1.52% 6.19% USD$5,065,517,151 USD$702,484,035
XRP XRP USD$0.51 0.63% -3.49% 13.89% USD$20,684,208,730 USD$622,750,671

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

On Mobile/Tablet scroll to the right

Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Dash DASH USD$169.04 0.25% 1.79% 10.25% USD$1,425,468,982 USD$172,310,327
Monero XMR USD$110.69 0.34% 0.27% 7.0% USD$1,832,337,585 USD$14,733,932
IOTA MIOTA USD$0.5 1.15% -0.18% 7.15% USD$1,395,031,801 USD$7,998,072
Bitcoin BTC USD$6511.9 0.36% -0.25% 1.95% USD$113,084,592,451 USD$4,510,536,209
TRON TRX USD$0.02 0.74% -0.31% 5.88% USD$1,564,390,340 USD$57,222,580

 

Crypto News

  • After Poloniex, a cryptocurrency exchange operated by Goldman Sachs-backed blockchain firm Circle, launched pre-fork trading of two Bitcoin Cash (BCH) variants, early indicators are signaling that investors favor Bitcoin ABC to Bitcoin SV. Bitcoin ABC is the more established version of Bitcoin Cash’s software and has generated roughly 4x the trading activity of Bitcoin SV. Although pre-fork trading only began earlier today, BCHABS (the pre-fork token for Bitcoin ABC) is trading at roughly USD$465.10/token while BCHSV (the pre-fork token for Bitcoin SV) is trading at USD$112.51/token.
  • Bitmain, a cryptocurrency mining giant, is rushing to roll out 90,000 units of its new Antminer S9 machines in Xinjiang, a western Chinese region, in time for the November 15th, 2018 Bitcoin Cash (BCH) hard fork. Bitmain is allegedly strategizing amid an upcoming computing “power war” by contacting local mining farms in the region of Xinjiang. Bitmain has reportedly been in talks with these local mining farms since early October and has successfully persuaded the farms to incorporate nearly 90,000 of its new Antminer S9 units in their farms. According to an unnamed source familiar with the matter, Bitmain has sent “half of its market staff to Xinjiang to talk with local mining operators about deploying its equipment.”
  • Jeffrey Berns, the CEO of Blockchains LLC and a cryptocurrency millionaire, purchased 67,000 acres of land in Nevada for USD$170 earlier this year for an unknown reason -- earlier in the week, Blockchains LLC announced plans to build a smart city with a decentralized, public blockchain infrastructure that underlies all interactions. According to the announcement, every member of the city will have voting powers and ownership rights recorded on a public, transparent blockchain, immune to manipulation. The announcement also details that other innovative technologies will be focused on in the city, including nanotechnology, AI, and 3D printing.
  • Nine substantial shipping companies and terminal operators have signed a Memorandum of Understanding (MoU) to launch a prospective open and digital global shipping network based on distributed ledger technology (DLT). The MoU also aims to create a consortium of shipping industry members, called the Global Shipping Business Network (GSBN). CargoSmart, a Hong Kong-based firm that specializes in shipping and logistics, will develop the software solution for the prospective shipping network.
  • South Korea’s government will allocate USD$35 million in next year's budget in order to pursue and develop blockchain technology and distributed ledger technology (DLT) solutions. In a meeting between various South Korean government agencies that included the country’s Ministry of Science and ICT, Ministry of Information and Communication, and the Democratic Party of Korea, government officials agreed to increase the budget for blockchain and DLT initiatives to USD$35 million, a threefold increase from the prior year’s budget. This year alone, South Korea’s Ministry of Science and ICT received 72 blockchain project applications from 41 different South Korean institutions -- only 6 of the projects were selected for implementation in the public sector.
  • Square, a popular merchant payment service provider that utilizes mobile card readers and applications, announced its CY3Q2018 financial that included USD$43 million in revenue from Bitcoin (BTC) transactions. Square reported a 68% y/y revenue increase with BTC transactions making up ~5% of total revenue. The USD$43 million of BTC transactions generated about USD$500,000 of profit, a 20% increase in BTC transaction profit since the previous quarter.
  • The United States Securities and Exchange Commission (US SEC) has charged Zachary Corburn, the founder of crypto token trading platform EtherDel, with illegally operating an unregistered securities exchange. EtherDel was a notable secondary exchange where users could buy and sell ERC20 tokens through an order book that employed smart contracts, also known as a decentralized exchange. In its 18-month lifespan, EtherDel processed more than 3.6 million orders, some of which involved what the US SEC considers securities. Coburn neither refuted or admitted to the charges, however, he cooperated with the investigation and agreed to pay USD$300,000 in unlawful profits, USD$13,000 in prejudgment interest, and a USD$75,000 penalty. 

 

 

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

Sources:

https://www.coindesk.com/early-trading-shows-clear-preference-in-divide-over-bitcoin-cash-hard-fork/ 
https://cointelegraph.com/news/mining-giant-bitmain-hurries-to-deploy-90-000-s9-antminers-ahead-of-bitcoin-cash-hard-fork 
https://www.newsbtc.com/2018/11/08/new-blockchain-city-in-nevada-a-gift-back-to-crypto-community/ 
https://cointelegraph.com/news/nine-leading-shipping-operators-launch-global-business-network-based-on-blockchain 
https://cointelegraph.com/news/south-korea-to-triple-the-budget-for-blockchain-projects-compared-to-2018 
https://www.ccn.com/43-million-in-bitcoin-trades-help-square-beat-earnings-estimates/ 
https://bitcoinist.com/square-bitcoin-quarterly-profit-q3/ 
https://cointelegraph.com/news/us-sec-charges-fines-etherdelta-founder-with-operating-unregistered-securities-exchange 
https://www.coindesk.com/sec-charges-etherdelta-founder-with-running-unregistered-securities-exchange/ 
https://www.newsbtc.com/2018/11/08/sec-charges-etherdelta-founder-with-operating-an-unregistered-exchange/ 
https://www.ccn.com/will-etherdelta-charges-lead-to-the-demise-of-decentralized-crypto-exchanges/