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Cryptocurrencies Continue to Fall as Binance Launches Research Arm to Publish ‘Institutional-Grade’ Research

Nov 09, 2018

 

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$6401.43 -0.07% -1.49% 0.79% USD$111,176,269,524 USD$4,560,799,544
Ethereum ETH USD$210.18 -0.42% -2.41% 5.37% USD$21,668,817,403 USD$1,737,083,963
Bitcoin Cash BCH USD$566.0 -2.27% -5.32% 27.63% USD$9,875,998,951 USD$781,523,710
EOS EOS USD$5.4 -0.86% -3.02% 1.28% USD$4,896,779,097 USD$716,509,336
XRP XRP USD$0.49 -1.32% -3.6% 7.82% USD$19,879,577,024 USD$597,825,637

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
Stellar XLM USD$0.26 -1.31% 1.08% 13.5% USD$4,872,140,471 USD$93,580,306
Ethereum Classic ETC USD$9.44 -0.14% -0.65% 3.95% USD$1,000,194,154 USD$133,318,570
Bitcoin BTC USD$6401.43 -0.07% -1.49% 0.79% USD$111,176,269,524 USD$4,560,799,544
NEM XEM USD$0.09 -0.42% -2.28% 0.55% USD$831,682,407 USD$4,712,132
Monero XMR USD$108.0 -0.05% -2.3% 3.04% USD$1,788,013,004 USD$15,751,381

 

Crypto News

  • Binance, the world’s largest cryptocurrency exchange, is launching a new division, Binance Research, to produce “institutional-grade” research reports. As detailed in a press release published on Thursday, Binance Research aims to increase transparency and improve the quality of information in the cryptocurrency industry. So far, Binance Research has published two research reports on its website; one that discusses Loom, a layer-2 scaling solution for Ethereum, and another that analyzes Gochain, a scalable decentralized blockchain that supports smart contracts and distributed applications. 
  • Coinbase, a US-based cryptocurrency exchange and wallet provider, has launched full trading services for the Basic Attention Token (BAT) on its website as well as on Android and iOS applications. BATs are the native token of Brave, an open-source web browser developed by Brave Software, Inc. Coinbase initially announced that it would begin offering trading services for BATs in a post last week, sending the value of BATs 20% as a result.  
  • Galaxy Digital Capital Management, the cryptocurrency investment bank headed by Mike Novogratz, has hired ex-Goldman Sachs banker Ian Taylor to head the company’s advisory-services arm. Taylor worked at Goldman Sachs for nearly 19 years before accepting the new position with Galaxy Digital Capital Management. Novogratz himself was a partner of Goldman Sachs before he began to woo top-executives away from his former employer -- in April 2018, Novogratz also hired Goldman executive Richard Kim to serve as COO of Galaxy Digital.  
  • JP Morgan Chase, one of the world’s largest investment banks and financial services firms, identified three public companies who stand to benefit the most from their applications of blockchain technology. In a note issued to its clients, JP Morgan Chase highlighted US-based content delivery network and cloud service provider, Akamai Technologies Inc. (AKAM), US-based tech and digital transaction management services firm, DocuSign (DOCU), and cloud-based platform provider for the mortgage finance industry, Ellie Mae (ELLI) as public companies set to benefit the most from blockchain applications. Also in its note, JP Morgan Chase recommended that investors, “should be looking to identify where the opportunity to replace a middleman is the biggest, or where trust is needed where none exists, or what companies are best positioned to offer blockchain as a service (BAAS).” 
  • Kaleido, a blockchain startup launched by ConsenSys, and Amazon Web Services (AWS) officially launched their full-stack platform geared at helping enterprises build and implement blockchain solution, as per a press release on Thursday. Dubbed Kaleido Marketplace, the platform, “eliminates 80% of the custom code,” typically required to build a blockchain platform by providing enterprises with an array of tools and protocol meant to, “plug-and-play." Kaleido is reportedly already working with trade and finance network Komgo, who works alongside global financial institutions like Citi, ING, and Societe Generale. 
  • The French lower house of parliament, the Assemblee Nationale, is reportedly backing a proposed plan from the country’s finance commission that will lower the taxes on Bitcoin (BTC) gains to that of other capital gains taxes in the country. According to French news site Le Figaro, the proposed plan would see the tax lowered on BTC capital gains from 36% to 30%. In order to become official, the plan must pass through France’s general legislative session and be included in the country’s 2019 budget.  
  • The Thai Securities and Exchange Commission (SEC), the country’s top securities regulator, will approve, “at least one,” initial coin offering (ICO) portal for legal operation in the country, according to a report by the Bangkok Post. Secretary General of the Thai SEC, Rapee Sucharitakul, told the local news outlet that he could see ICOs themselves begin to be approved as soon as December of this year. This step by the Thai SEC is one of the final steps in a push to regulate the country’s cryptocurrency market that began in May with the issuance of a royal decree.  
  • Venezuela will present the country’s state and oil-backed cryptocurrency, the Petro, to the Organization of the Petroleum Exporting Countries (OPEC) for its use as the digital currency for oil transactions worldwide. Venezuela will wait to present the Petro to OPEC until the first quarter of 2019, according to a tweet from the President of the country’s state-owned oil company PDVSA, Manuel Quevedo. Quevedo hopes that global adoption of the Petro in oil markets will drive economic growth and prosperity in Venezuela. 

 

 

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

Sources:

https://info.binance.com/research/LOOM-2018-11-8.html 
https://info.binance.com/research/GO-2018-11-8.html 
https://info.binance.com/en/research 
https://support.binance.com/hc/en-us/articles/360018941712 
https://cointelegraph.com/news/binance-launches-research-wing-to-create-institutional-grade-research-reports 
https://blog.coinbase.com/buy-and-sell-bat-on-coinbase-454a7eb9f3a 
https://cointelegraph.com/news/coinbase-launches-full-trading-of-basic-attention-token 
https://www.coindesk.com/coinbase-users-can-now-buy-and-sell-braves-basic-attention-token/ 
https://www.ccn.com/mike-novogratzs-galaxy-digital-hires-goldman-sachs-exec-to-oversee-blockchain-unit/ 
https://www.bloomberg.com/news/articles/2018-11-08/novogratz-s-galaxy-digital-hires-former-goldman-banker-taylor 
https://www.cnbc.com/2018/04/09/another-goldman-exec-dumps-wall-street-for-crypto-world.html 
https://cointelegraph.com/news/jp-morgan-identifies-three-companies-whose-stock-could-benefit-from-blockchain 
https://www.cnbc.com/2018/11/08/jp-morgans-three-potential-winners-in-blockchain.html 
https://cointelegraph.com/news/jp-morgan-identifies-three-companies-whose-stock-could-benefit-from-blockchain 
https://cointelegraph.com/news/consensys-kaleido-amazon-web-services-launch-blockchain-marketplace-for-enterprises 
https://www.prnewswire.com/news-releases/kaleido-launches-blockchain-marketplace-with-plug-and-play-services-and-solution-partnership-program-300746670.html 
https://www.ccn.com/french-lawmakers-want-to-give-bitcoin-investors-a-tax-cut/ 
https://cointelegraph.com/news/thailand-legal-framework-for-cryptocurrencies-comes-into-force 
https://cointelegraph.com/news/thailand-to-legitimize-first-ico-portal-via-new-regulation-says-sec-head 
https://www.bangkokpost.com/business/finance/1571914/first-ico-portal-en-route 
https://www.coindesk.com/venezuela-to-present-petro-at-opec-as-the-digital-currency-for-oil/