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Cryptocurrency sell-off resumes, Stellar (XLM) flips Bitcoin Cash (BCH)

Nov 23, 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$4319.88 0.04% -3.88% -22.8% USD$75,122,140,050 USD$4,941,085,139
Ethereum ETH USD$122.12 -1.02% -7.22% -31.39% USD$12,624,722,905 USD$1,977,548,428
EOS EOS USD$3.57 -0.54% -4.03% -21.96% USD$3,238,567,346 USD$885,389,866
XRP XRP USD$0.41 -0.32% -6.42% -13.24% USD$16,489,145,852 USD$711,005,534
Litecoin LTC USD$32.1 0.17% -4.68% -25.46% USD$1,903,023,532 USD$504,866,715

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
IOTA MIOTA USD$0.31 -0.75% -2.12% -24.44% USD$874,150,406 USD$11,170,585
Bitcoin BTC USD$4319.88 0.04% -3.88% -22.8% USD$75,122,140,050 USD$4,941,085,139
EOS EOS USD$3.57 -0.54% -4.03% -21.96% USD$3,238,567,346 USD$885,389,866
Litecoin LTC USD$32.1 0.17% -4.68% -25.46% USD$1,903,023,532 USD$504,866,715
Monero XMR USD$64.95 -0.32% -4.72% -26.23% USD$1,077,636,146 USD$15,019,354

 

Crypto News

  • Cryptocurrencies are sustaining notable losses as the price of Bitcoin (BTC) is down 3.72% in the last 24 hours to USD$4,329.47 and total cryptocurrency market capitalization losing USD$7bn in the last 24 hours, falling to USD$140bn. Bitcoin Cash (BCH) has fallen 10.50% in the last 24 hours, allowing Stellar (XLM) to flip the forked coin and take over the position as cryptocurrency’s fourth largest coin. Ripple (XRP) is down about 6% in the last 24 hours to trade at USD$0.41087/token while Ethereum is down 6.44% in the last 24 hours to trade at USD$123.64, its lowest level since May 2017. 
  • Bitcoin’s (BTC) 2018 bear market that has seen the staple cryptocurrency fall 79.7% from its high of USD$19,500 in January to a low of USD$4,035 in November is so far the smallest correction of five that BTC has observed to date. Four major corrections are defined in BTC’s history: from June 11th, 2011 through November 21st, 2011, the price of BTC fell 94.3%; from August 19th, 2011 until November 21st, 2011, BTC fell 83.3%; from April 10th, 2013 through April 12th, 2013, the price of BTC dropped 82.6%; and from November 29th, 2013 through August 18th, 2015, BTC fell 86.7%. 
  • France’s tobacco federation, The Federation des Buralistes, has reportedly been approved to sell Bitcoin (BTC) at tobacco distribution locations starting January 2019, although the French central bank does not support the plan. As per French radio station Europe 1, French tobacco retailers have formed a partnership with cryptocurrency startup Keplerk, who will provide a cash register software system to enable the BTC purchases. French tobacco retailers will offer to sell BTC vouchers in denominations of 50, 100, or 250 euros beginning January 1st, 2019. According to the French tobacco federation’s website, 25,000 tobacco retailers across France will take part in the partnership. 
  • In what is being called a “disaster” for the country’s cryptocurrency industry, the Norwegian Parliament has decided to roll back a tax structure that allowed for cryptocurrency miners to be taxed at the same rate as other industries in the country that use substantial amounts of power. Lars Haltbrekken, a Norwegian parliamentary representative, told local news outlet Aftenposten.no, “Norway cannot continue to provide huge tax incentives for the most dirty form of cryptographic output as bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally.” Prior to this decision by the Norwegian Parliament, Norway’s cryptocurrency mining industry was one of the cleanest in the world, with 99% of energy usage being generated from hydropower. 
  • Mike Lempres, head of policy at US-based Coinbase, has left the exchange and wallet provider to join investment giant Andreessen Horowitz. According to a Bloomberg report, Lempres left his position at Coinbase after being promoted from a position as Coinbase’s legal head in September. A statement from Coinbase quoted by the Bloomberg report reads, “As chief legal and risk officer during a time of tremendous growth for Coinbase, Mike was instrumental in building the company’s legal and compliance functions and driving our vision of trust through compliance.”
  • Swiss Federal Railways (SBB), the national railway company of Switzerland, announced in a press release that it has successfully completed a proof-of-concept for a “self-sovereign” blockchain identity management system. Developed by Linum Labs, the blockchain system leverages uPort, an Ethereum-based identity management protocol, in order to increase efficiencies associated with paper-based processes used by the railway company’s workforce. Workers will be able to create digital identities and sign in and out of construction sites using the uPort application on their smartphones. 
  • The Gibraltar Blockchain Exchange (GBX), a venture by the Gibraltar Stock Exchange (GSX), has been awarded a license from the Gibraltar Financial Services Commission (GFSC), the county’s financial regulator. The blockchain platform, which was originally announced in November 2017, hopes to, “become the world’s first nationally regulated digital asset marketplace and ecosystem.” The blockchain exchange currently supports trading of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), and the exchange’s native Rock Token (RKT).

 

Cryptocurrencies Today

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

 

Sources:

https://coinmarketcap.com/currencies/ethereum/#charts
https://www.ccn.com/not-all-gloomy-79-drop-of-bitcoin-is-smallest-major-correction-to-date/
https://bitcoinist.com/yeah-bitcoin-is-down-but-its-only-the-4th-biggest-bubble-in-history/
https://www.coindesk.com/french-tobacco-retailers-to-sell-bitcoin-from-january
http://www.europe1.fr/economie/information-europe-1-les-bureaux-de-tabac-vont-vendre-des-bitcoins-a-partir-du-1er-janvier-3804650
https://cointelegraph.com/news/france-central-bank-does-not-endorse-plans-for-tobacco-shops-to-sell-bitcoin
https://www.ccn.com/french-tobacco-shops-to-sell-bitcoin-from-2019/
http://www.buralistes.fr/qui-sont-les-buralistes
https://www.ccn.com/norway-removes-tax-breaks-for-bitcoin-mining-a-disaster-says-bitcoin-company/
https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=https%3A%2F%2Fwww.aftenposten.no%2Fnorge%2Fi%2Fng6b9B%2FStromsubsidiering-av-bitcoinfabrikker-tar-slutt&edit-text=
https://cointelegraph.com/news/national-swiss-railway-operator-completes-pilot-of-blockchain-id-management-system
https://medium.com/linum-labs/swiss-federal-railway-trials-first-digital-identity-pilot-on-ethereum-4a3cb3c6621
https://www.coindesk.com/swiss-railway-tests-blockchain-identities-for-workplace-safety-boost
https://cointelegraph.com/news/coinbase-policy-head-mike-lempres-leaves-company-for-vc-giant-andreessen-horowitz
https://www.bloomberg.com/news/articles/2018-11-21/coinbase-loses-chief-policy-officer-michael-lempres
https://blog.coinbase.com/welcome-brian-brooks-coinbases-new-chief-legal-officer-a23ce203454e
https://cointelegraph.com/news/gibraltar-stock-exchanges-blockchain-platform-secures-licence-from-financial-regulator
https://gbx.gi/news/the-gbx-digital-asset-exchange-is-now-open-to-the-public/