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Cryptocurrency sell-off resumes as Bitcoin (BTC) trades below $3,300

Dec 13, 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$3303.04 0.03% -5.45% -7.83% USD$57,542,656,190 USD$4,215,909,561
Ethereum ETH USD$85.72 0.0% -6.0% -8.52% USD$8,896,216,254 USD$1,686,588,351
EOS EOS USD$1.85 -0.25% -7.48% -3.86% USD$1,678,076,919 USD$590,976,059
Litecoin LTC USD$23.69 0.27% -4.61% -13.57% USD$1,410,887,993 USD$324,429,841
XRP XRP USD$0.3 0.15% -2.86% -5.85% USD$12,237,668,318 USD$299,708,766

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
Qtum QTUM USD$1.76 0.08% 3.39% 3.99% USD$156,630,790 USD$194,206,407
Ethereum Classic ETC USD$3.85 -0.19% -1.34% 4.39% USD$410,748,458 USD$98,586,450
XRP XRP USD$0.3 0.15% -2.86% -5.85% USD$12,237,668,318 USD$299,708,766
OmiseGO OMG USD$1.23 1.23% -2.98% -3.86% USD$172,481,762 USD$27,326,955
TRON TRX USD$0.01 0.15% -3.3% -0.94% USD$863,567,596 USD$84,098,933

 

Crypto Market Recap

  • Cryptocurrency prices continued to fall lower this afternoon as the price of Bitcoin (BTC) is down 5.60% in the last 24 hours to USD$3,298.76. Bitcoin Cash (BCH) is the worst performing major cryptocurrency today, down 11.56% in the last 24 hours to USD$90.33 while the forked Bitcoin SV (BSV) is down 9.25% in the last 24 hours to USD$81.57. Ethereum Classic (ETC) and Ripple (XRP) are the best performing major coins, meanwhile, down just 1.25% and 2.97% in the last 24 hours to USD$3.85 and USD$0.298726, respectively.

Crypto Developments in Financial Services

  • TokenSoft, a security token offering (STO) startup, has acquired a 20% stake in regulated broker-dealer Marpine Securities LLC in order to launch its own regulated broker-dealer. After acquiring the 20% stake, TokenSoft will launch its new regulated broker-dealer entity, called TokenSoft Global Markets, that will be registered through the Financial Industry Regulatory Authority (FINRA). The new regulated broker-dealer entity will allow TokenSoft to advise token issuers through every step of the Initial Coin Offering (ICO) process. Additionally, TokenSoft will now be able to legally operate in services related to insurance and management.
  • PricewaterhouseCoopers (PwC), a big four consulting firm, is partnering with Bitfury Group, a large blockchain software and mining firm, to develop a blockchain accelerator specific to Russian businesses. As per an official press release by PwC, the partnership will leverage Exonum, Bitfury’s open source framework to build blockchain applications, for educational courses and seminars. The partnership aims to meet the, “current needs,” of PwC’s enterprise clients in Russia.  
  • UAE Exchange, an exchange based in the United Arab Emirates (UAE), is partnering with Ripple to launch a blockchain-based cross-border remittances platform by 1Q2019, as per a Reuters report on Thursday. The report details further that Finablr, a payments and foreign exchange company that owns UAE Exchange, observes a high level of remittance inflows from expatriate workers in the Middle East region. “We expect to go live with Rippel by Q1, 2019 with two other Asian banks,” said Finablr CEO Promoth Manghat, adding, “This is for remittances to start with, from across the globe into Asia.”

General Crypto News

  • A new study published by the Cambridge Centre for Alternative Finance on Wednesday finds that the number of unique ID-verified cryptocurrency users nearly doubled in in the first 3 quarters of 2018. The study details that total ID-verified users increased to 35mm in the first three quarters of 2018 from 18mm at the end of 2017, representing an increase of 94%. As per an analysis of the study by Bloomberg, the growth of crypto’s userbase despite the market decline, “could signal that an eventual recovery could be coming.” 
  • Orbs, a unique hybrid blockchain platform, raised more than USD$15mm in cryptocurrencies to fund its development of a public blockchain, according to a company blog post. South Korean application provider Kakao lead the fundraising efforts with a representative telling CoinDesk that the company, “always seeks to invest and support innovative startups, and Orbs is a good example.” In total, Orbs raised 139,000 Ether (ETH) and 892 Bitcoin (BTC), amounting to roughly USD$15.4mm. Orbs aims to build a public blockchain with this funding that is, “universal,” and, “scalable,” for decentralized applications (DApps) with the, “liquidity of a base layer.”

 

 

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

Sources:

https://coinmarketcap.com/ 
https://coin360.io/ 
https://cointelegraph.com/news/number-of-crypto-users-nearly-doubled-in-2018-study-says 
https://www.jbs.cam.ac.uk/faculty-%20research/centres/alternative-finance/publications/2nd-global-cryptoasset-benchmarking-%20study/#.XBI8fS2ZNLa 
https://www.bloomberg.com/news/articles/2018-12-12/ranks-of-crypto-users-swelled-in-2018-even-as-bitcoin-tumbled 
https://www.ccn.com/mainstream-2018-brought-54-million-new-crypto-users-despite-bear-market/ 
https://www.coindesk.com/south-koreas-kakao-leads-15-million-raise-for-public-blockchain-startup-orbs 
https://medium.com/orbs-network/kakao-investment-dives-in-to-orbs-eb7f397070bb 
https://cointelegraph.com/news/pwc-partners-with-bitfury-to-create-blockchain-accelerator-in-russia 
https://www.pwc.ru/ru/press-releases/2018/bitfuty-group-pwc-accelerator.html 
https://www.coindesk.com/ico-facilitator-tokensoft-acquires-stake-in-regulated-broker-dealer 
https://brokercheck.finra.org/firm/summary/297979 
https://www.coindesk.com/stellar-gets-another-boost-with-tokensoft-ico-services-expansion 
https://www.coindesk.com/compliant-icos-bitcoin-ogs-launch-regulated-token-sale-service 
https://www.coindesk.com/uae-remittance-firm-launching-ripple-based-payments-in-q1-2019 
https://cointelegraph.com/news/uae-exchange-ripple-to-launch-blockchain-remittances-to-asia-by-q1-2019 
https://www.forbes.com/sites/tobyshapshak/2018/05/21/global-remittances-reach-613bn-says-world-bank/#7057e83c5ddc 
https://www.reuters.com/article/us-finablr-ripple-payments/finablrs-uae-exchange-ripple-to-begin-blockchain-payments-by-first-quarter-idUSKBN1OC0IR