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Cryptocurrencies reverse overnight, crypto ETP trading volume spikes

Dec 12, 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$3475.81 -0.18% 1.93% -9.95% USD$60,545,322,939 USD$4,566,442,879
Ethereum ETH USD$90.75 -0.17% 2.68% -15.12% USD$9,415,967,480 USD$1,645,107,714
EOS EOS USD$1.95 0.08% 5.7% -15.29% USD$1,771,299,255 USD$713,326,944
Litecoin LTC USD$24.64 -0.26% 3.62% -18.64% USD$1,467,097,614 USD$383,392,229
XRP XRP USD$0.31 0.07% 2.64% -11.02% USD$12,582,948,659 USD$368,271,861

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
EOS EOS USD$1.95 0.08% 5.7% -15.29% USD$1,771,299,255 USD$713,326,944
NEO NEO USD$6.15 -0.34% 5.38% -14.77% USD$399,892,219 USD$114,255,404
Cardano ADA USD$0.03 -0.07% 4.73% -16.0% USD$791,512,958 USD$10,604,668
Litecoin LTC USD$24.64 -0.26% 3.62% -18.64% USD$1,467,097,614 USD$383,392,229
Ethereum ETH USD$90.75 -0.17% 2.68% -15.12% USD$9,415,967,480 USD$1,645,107,714

 

Crypto Market Recap

  • Cryptocurrencies are in the green for the first time this week as the of Bitcoin (BTC) is up 1.89% in the last 24 hours to USD$3,481.29. Binance Coin (BNB) and EOS (EOS) are the best performers among top cryptocurrencies, up 9.38% and 5.31% in the last 24 hours to USD$5.05 and USD$1.95, respectively. IOTA (MIOTA) and Ethereum Classic (ETC), meanwhile, are the only major cryptocurrencies in the red, down 3.17% and 1.13% in the last 24 hours to USD$0.232201 and USD$3.87, respectively. 

Crypto Developments in Financial Services

  • A cryptocurrency exchange-traded product (ETP) that trades on Switzerland’s Six Exchange saw record trading volumes on Thursday and Friday last week, suggesting that institutional investors may be buying the dip in cryptocurrencies. Four major cryptocurrencies underlie the HODL ETP, including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). While HODL ETP’s one-month average daily trading is 20,000 shares, on Thursday, December 6th, and Friday, December 7th, 53,233 shares and 62.986 shares were traded, respectively.
  • Kraken, a notable cryptocurrency exchange, is seeking to raise funding with a USD$4bn valuation for the company and a USD$100,000 investment minimum, according to CoinDesk. In an email to investors, Kraken CEO Jesse Powell wrote, “There is presently a limited time opportunity available to a very small select number of clients to purchase shares.” The email goes on to detail that the exchange will close its offer on December 16th.  
  • OKEx, the second-largest cryptocurrency exchange by daily trading volume, will begin listing Bitcoin Cash ABC under the original Bitcoin Cash ticker (BCH), as per an official announcement Tuesday. Additionally, OKEx will change the Bitcoin Cash SV ticker from BCHSV to BSV. The announcement by OKEx comes after other notable cryptocurrency exchanges have made the same switch, including Coinbase and Gemini.
  • The United Arab Emirates’(UAE) central bank is partnering with the Saudi Arabian Monetary Authority (SAMA) to develop a cryptocurrency to facilitate cross border transactions between the two countries, according to a report by news outlet GulfNews. In a meeting pertaining to global banking standards and regulation in the Arab region, Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said, “This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region.” The prospective digital currency will be used by both central banks and financial institutions in the countries.

Crypto Regulatory Environment

  • Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), expressed his optimism for distributed ledger technology’s potential impact on traditional financial markets in a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs yesterday. According to a transcript published on the SEC’s website, Clayton said, “I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors.” Additionally, Clayton highlighted that the SEC is, “Focusing a significant amount of attention and resources on digital assets and initial coin offerings (ICOs).” 

General Crypto News

  • Samsung has reportedly filed patent applications for three different blockchain-related trademark requests that all pertain directly to smartphones, according to news outlet Galaxy Club. Specifically, the patents named “Blockchain KeyStore”, “Blockchain Key Box”, and “Blockchain Core” all pertain to cryptocurrency custody capabilities on smartphones. This news comes amid the release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, both of which are being marketed as blockchain smartphones with cryptocurrency custody capabilities.

 

 

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

Sources:

https://coinmarketcap.com/ 
https://coin360.io/ 
https://bitcoinist.com/bitcoin-etp-swiss-six-record-volume/ 
https://bitcoinist.com/switzerland-amun-bitcoin-etf-hodl/ 
https://www.sec.gov/news/testimony/testimony-oversight-us-securities-and-exchange-commission-0#_ftn27 
https://cointelegraph.com/news/sec-chairman-expresses-optimism-about-dlt-investment-opportunities-in-senate-testimony 
https://www.coindesk.com/kraken-is-seeking-war-chest-investment-at-a-4-billion-valuation 
https://twitter.com/MannerCookie/status/1072555878337921024 
https://cointelegraph.com/news/okex-crypto-exchange-lists-bitcoin-cash-abc-under-original-bitcoin-cash-ticker 
https://support.okex.com/hc/en-us/articles/360020804771 
https://blog.coinbase.com/what-to-expect-during-the-bitcoin-cash-hard-fork-f15fd03687db 
https://cointelegraph.com/news/bitcoin-cash-hard-fork-battle-who-is-winning-the-hash-war 
https://www.ccn.com/samsung-files-for-cryptocurrency-trademarks-in-the-eu-for-smartphones/ 
https://www.ccn.com/hands-on-with-the-sirin-labs-finney-the-worlds-first-crypto-native-smartphone/ 
https://www.galaxyclub.nl/nieuws/trademarks-wijzen-op-samsungs-crypto-plannen-voor-smartphones-blockchain-keystore-en-meer/ 
https://cointelegraph.com/news/uae-central-bank-saudi-arabia-to-develop-joint-cryptocurrency-for-interbank-transactions 
https://gulfnews.com/business/uae-saudi-working-on-a-joint-crypto-currency-1.2140573 
https://www.ccn.com/uae-and-saudi-arabian-central-banks-to-jointly-launch-a-cross-border-cryptocurrency/