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Cryptocurrencies see broad-based rally, most major coins up double-digits

Dec 17, 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$3538.99 -1.51% 8.33% 1.25% USD$61,678,415,901 USD$5,302,739,043
Ethereum ETH USD$95.15 -1.41% 10.37% 4.17% USD$9,882,106,990 USD$2,082,705,053
EOS EOS USD$2.39 -0.34% 23.7% 22.9% USD$2,165,198,748 USD$1,003,496,015
Litecoin LTC USD$29.34 -2.2% 13.13% 18.77% USD$1,749,205,884 USD$611,706,979
XRP XRP USD$0.32 -3.23% 11.04% 6.09% USD$13,078,462,438 USD$595,640,435

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$2.39 -0.34% 23.7% 22.9% USD$2,165,198,748 USD$1,003,496,015
Qtum QTUM USD$2.1 -1.66% 20.2% 31.71% USD$186,805,624 USD$153,846,164
VeChain VET USD$0.0 -2.5% 16.45% 4.56% USD$221,306,032 USD$9,232,648
IOTA MIOTA USD$0.26 -2.36% 14.4% 7.66% USD$710,919,480 USD$10,348,121
Litecoin LTC USD$29.34 -2.2% 13.13% 18.77% USD$1,749,205,884 USD$611,706,979

 

Crypto Market Recap

  • Cryptocurrencies are observing a broad-based rally that is sending most major coins higher by double-digits as the price of Bitcoin (BTC) is up 8.25% in the last 24 hours to USD$3,537.03. Among major cryptocurrencies, EOS (EOS) is the top performer, up a massive 23.22% in the last 24 hours to USD$2.38 -- the spike in EOS has sent the decentralized network back into the position as the 4th largest cryptocurrency by market capitalization. No major cryptocurrencies are negative in the last 24 hours, although Bitcoin SV (BSV) lags major coins, up 5.41% to USD$80.97. Only 3 of the top 100 cryptocurrencies by market capitalization are negative in the last 24 hours.

Crypto Developments in Financial Services

  • A new report published by data researchers from the Blockchain Transparency Institute finds that a majority of the top 25 Bitcoin (BTC) trading pairs listed on CoinMarketCap.com (CMC) are based up trading volumes that are, “grossly,” inflated. According to the Blockchain Transparency Institute’s, “Exchange Volumes Report,” published last Thursday, “Most of these pairs’ actual volume is under 1% of their reported volume on CMC. We noted only 2 out of the top 25 pairs not to be grossly washing trading their volume, Binance and Bitfinex.” 
  • KfW, a state-owned German bank, and Burkina Faso’s Ministry of Finance are planning to test a blockchain application geared towards public finance management, according to an official announcement on Monday. KfQ, which is Germany’s third-largest bank by total assets, will test TruBudget, an open source application it developed in the country of Burkina Faso within the next six months. KfQ hopes that TruBudget will effectively shorten lengthy manual processes while ensuring that funds are properly allocated.  
  • Overstock.com’s subsidiary tZero is being hired by private equity firm GSR Capital to develop a cobalt-backed digital token, according to an official announcement. Overstock said on Monday that up to USD$200mm of cobalt could be tokenized in 2019. As a result of the deal, an agreement for GSR to invest up to USD$404mm in Overstock and tZero will be delayed. The agreement was set to close on December 15th, but just one day prior, ‘GSR contacted us and asked for an extension to allow a key partner in the cobalt initiative from outside of China to participate in the deal,” said Patrick Byrne, CEO of Overstock.  
  • Coinbase.com retailer users can begin trading cryptocurrencies directly against other cryptocurrencies, according to an announcement by the exchange on Monday. Crypto-to-crypto trading is a feature that has been long available to users of Coinbase.com’s professional cryptocurrency trading service. Crypto-to-crypto trading services will allow Coinbase.com users to avoid 2x trading fees if they wish to convert from one cryptocurrency to another -- in the past, users were forced to convert a crypto to fiat before converting the fiat to another crypto.

Crypto Regulatory Environment

  • The Italian Companies and Exchange Commission, Italy’s securities regulators, has officially issued 90-day suspensions to two projects that allegedly conducted fraudulent investment schemes. According to an announcement on the regulator’s website, Bitsurge Token and Green Energy Certificates are banned from offering investments from 90 days -- both of these projects are reportedly scam project from Avalon Life, a firm based outside of the European Union.

General Crypto News

  • The number of total unique Ethereum (ETH) wallet addresses reached a milestone on Saturday, surpassing 50 million, according to data from Etherscan, an ETH block explorer.  Despite the growing number of ETH wallets, the number of active ETH addresses has decreased steadily through 2018 -- since reaching a high of more than 1 million active addresses in January 2018, total active wallets have fallen roughly 70% to just 328,400. As comparison, the total number of Bitcoin (BTC) active wallets currently sits at around 461,000.

 

 

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

Sources:

https://coinmarketcap.com/ 
https://coin360.io/ 
https://cointelegraph.com/news/report-claims-over-80-percent-of-top-25-btc-trading-pair-volumes-on-cmc-are-wash-traded 
https://www.blockchaintransparency.org/ 
https://bitcoinist.com/binance-bitfinex-not-fake-volume/ 
https://cointelegraph.com/news/german-state-bank-kfw-tests-blockchain-app-for-public-finance-management-in-burkina-faso 
https://www.kfw.de/KfW-Konzern/Newsroom/Aktuelles/Pressemitteilungen-Details_500800.html 
https://www.coindesk.com/overstock-tzero-cobalt-token-gsr-hong-kong 
http://investors.overstock.com/mobile.view?c=131091&v=203&d=1&id=2363163 
https://www.sec.gov/Archives/edgar/data/1130713/000110465918073205/a18-41722_18k.htm 
https://www.coindesk.com/coinbase-adds-crypto-crypto-trading-pairs-for-retail-customers 
https://cointelegraph.com/news/italy-securities-regulator-suspends-two-crypto-firms-for-alleged-scam-investment-schemes 
http://www.consob.it/web/area-pubblica/newsletter/documenti/news/2018/anno_xxiv_n-47_17_dicembre_2018.htm?nav=false 
https://cointelegraph.com/news/ethereum-unique-addresses-break-50-million-active-wallet-number-keeps-dropping 
https://etherscan.io/chart/address