Cryptocurrencies fall further, Bitcoin SV inches closer to Bitcoin Cash ABC
Dec 06, 2018
Top 5 Cryptocurrencies sorted by 24 hour Volume
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Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change
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Crypto Market Recap
- Cryptocurrency markets continue to see red as Bitcoin (BTC) is trading 2.60% lower in the last 24 hours to USD$3,681.62 and Ripple (XRP) is trading down 3.77% in the last 24 hours to USD$0.327055. In an unexpected turn, Bitcoin SV (BSV) is trading a massive 18.61% higher in the last 24 hours to USD$103.29 while Bitcoin Cash ABC (BCH) is trading 13.74% lower to USD$114.82 -- Bitcoin SV now trails Bitcoin Cash ABC by just USD$0.2bn in total market capitalization. Current total cryptocurrency market capitalization now sits at just USD$117.2bn, its lowest value since September 2017.
Crypto Developments in Financial Services
- Binance, the world’s largest cryptocurrency exchange by daily trading volume, released a statement today announcing Binance Blockchain Week, the exchange’s first conference, to be held in Singapore in January 2019. Binance Blockchain Week will last two days and be the, “first-ever Binance SAFU (Secured Assets For Users) Hackathon,” the company release details. This news comes after Binance spent the beginning of the week teasing the launch of Binance Chain, a highly-anticipated decentralized exchange venture that will feature, “millions of coins.”
- Coinbase, the major US-based cryptocurrency exchange, has applied to trademark the cryptocurrency-industry term “BUIDL”, as per an application filed through the US Patent and Trademark Office. The word is an intentional spelling of the word “build” and is a play on the mainstream crypto community term “HODL”, which refers to the long-term holding of cryptocurrencies, rather than the actual use of them. The patent application specifically details a software-as-a-service (SaaS) product, detailing that BUIDL SaaS services would include, “software for managing, buying, selling, storing, transacting, exchanging, sending, and receiving virtual currency.”
- Morgan Creek Digital, a cryptocurrency-focused institutional asset manager, announced a USD$1mm bet that its Digital Asset Index Fund will outperform the S&P 500 Index, as per a press release. Morgan Creek’s Digital Asset Index Fund tracks a basket of ten major cryptocurrency assets. The bet, dubbed Buffet Bet 2.0, echoes a similar bet made by Warren Buffet in 2008, who wagered USD$1mm that the S&P 500 Index would outperform a group of hedge funds over a ten-year timeframe. The wager begins on January 1st, 2018 and will last 10 years.
Crypto Regulatory Environmental
- United America Corporation, a Florida-based company that experiments with blockchain technology, is taking multiple Bitcoin Cash (BCH) actors to court today, accusing the actors of a conspiracy to work towards their deterrent. The suit alleges that, amid the Bitcoin Cash hard fork in November, Bitcoin.com’s conversion of Bitcoin (BTC) mining hardware as well as the renting of additional hardware for the benefit of the Bitcoin Cash ABC network was unfair practice and should have been allowed to complete under the rules of consensus of Bitcoin Cash. In the past, United America Corporation launched BockchainDomes, a unique approach to cryptocurrency mining hardware.
General Crypto News
- Swiss Post, Switzerland’s national postal service, is partnering with Swisscom, a state-owned telecommunications provider, to build a, “100% Swiss,” blockchain infrastructure, as per a press release today. The common blockchain shared between Swiss Post and Swisscom will be based on Hyperledger Fabric 2.0 software and will be the first private or permissioned blockchain to be operated jointly between two entities. The first aim of the blockchain infrastructure will be to build a system to handle sensitive business processes required by both enterprises and public authorities.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio