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Crypto losses deepen overnight, Huobi adds EOS support on its derivative market

Dec 28, 2018

 

 
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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$3670.46 0.03% -3.32% -9.06% USD$64,045,651,066 USD$4,963,125,538
Ethereum ETH USD$117.53 0.25% -6.53% 2.87% USD$12,230,058,146 USD$2,529,717,504
EOS EOS USD$2.35 0.52% -6.68% -12.19% USD$2,130,273,190 USD$729,640,062
XRP XRP USD$0.34 -0.13% -6.09% -6.82% USD$14,032,302,889 USD$618,644,609
Litecoin LTC USD$29.24 -0.58% -2.66% -8.35% USD$1,747,707,896 USD$400,883,017

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
Monero XMR USD$47.03 -0.0% -0.33% -11.42% USD$784,453,294 USD$17,730,842
IOTA MIOTA USD$0.33 0.55% -0.53% -1.8% USD$920,920,080 USD$11,951,978
Litecoin LTC USD$29.24 -0.58% -2.66% -8.35% USD$1,747,707,896 USD$400,883,017
Bitcoin BTC USD$3670.46 0.03% -3.32% -9.06% USD$64,045,651,066 USD$4,963,125,538
Stellar XLM USD$0.11 0.4% -4.0% -10.65% USD$2,156,491,304 USD$97,515,286

 

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Crypto Market Recap

  • Cryptocurrency losses deepened overnight with all major coins in the red and the price of Bitcoin (BTC) down 3.47% in the last 24 hours to USD$3,664.73. Bitcoin Cash (BCH) and Bitcoin SV (BSV) are falling the most among major coins, down 10.91% and 8.89% in the last 24 hours to USD$149.07 and USD$84.11, respectively. IOTA (MIOTA) appears to be the most resilient to losses among major coins, down just 0.42% in the last 24 hours to USD$0.32989.

Crypto Developments in Financial Services

  • The National Bank of Kuwait (NBK) is launching a cross-border blockchain remittance platform based on RippleNet, according to an official announcement Thursday. The NBK, which is the largest financial institution in Kuwait with USD$86.3bn of assets under management, will launch NBK Direct Remit in order to increase efficiencies for international transactions. NBK Deputy CEO of group operations and technology, Dimitrios Kokosioulis, explained the financial institution’s reasoning for joining RippleNet by citing an ability for customers to, “make money transfers within seconds,” and at, “any time of the day.” 
  • Huobi, the third-largest cryptocurrency exchange in the world by daily trading volume, has added support to altcoin EOS (EOS) on its derivative market, according to an official press release today. Huobi users will now be able to enter both long and short positions on EOS with a capability to leverage positions up to 20x. Huobi’s decision to add EOS support on its derivatives market comes as part of, “ongoing efforts to address customer demand.”

Crypto Regulatory Environment

  • Although US regulators have filed over 90 fraud cases relating to the cryptocurrency industry over the last 2 years, the Wall Street Journal (WSJ) reports that only USD$36mm has been recovered for victims. The WSJ notes in its report that the US Securities and Exchange Commission (SEC) has ramped up its efforts in 2018 to pursue crypto fraud cases; last month alone, the US SEC filed five individual cases, more than the four total cases filed in the entire year of 2017.

General Crypto News

  • A USD$4bn lawsuit against Craig Wright, a prominent crypto industry member and currency Chief Scientist of nChain, will move forward after a United States court rejected repeated requests for dismissal from Wright. The lawsuit pertains to the alleged theft of Bitcoin (BTC) from the estate of deceased cryptocurrency developer David Kleiman. The case originally came to courts in February when Kleiman’s family claimed Wright stole as much as 1.1mm BTC after Kleiman passed away.  
  • Researchers attending the 35C3 Refreshing Memories conference showed that they were able to hack the Trezor One, Ledger Nano S, and Ledger Blue hardware wallets on Thursday. Hardware designer and security researcher Dmitry Nedospasov, software developer Thomas Roth, and security researcher Josh Datko made up the research team behind the project, dubbed, “Wallet.fail”. The research team was able to successfully extract the private key from the Trezor One hardware wallet; the exploit only works, however, if the user did not set a passphrase for the hardware wallet.  

 

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

Sources:

https://coin360.io/ 
https://coinmarketcap.com/ 
https://coinmarketcap.com/rankings/exchanges/ 
https://cointelegraph.com/news/4-billion-lawsuit-against-craig-wright-moves-forward-as-judge-declines-dismissal-request 
https://cointelegraph.com/news/national-bank-of-kuwait-launches-ripple-based-cross-border-payments-product 
https://cointelegraph.com/news/research-team-demonstrates-hard-wallets-vulnerabilities-trezor-promises-firmware-update 
https://cointelegraph.com/news/third-largest-crypto-exchange-huobis-derivative-market-now-includes-eos 
https://media.ccc.de/v/35c3-9563-wallet_fail 
https://www.ccn.com/despite-taking-down-90-crypto-scams-us-regulators-recovered-just-36-million-for-victims/ 
https://www.coindesk.com/national-bank-of-kuwait-taps-ripple-for-new-remittance-service 
https://www.courtlistener.com/docket/6309656/68/kleiman-v-wright/ 
https://www.nbk.com/kuwait/news-and-insights/media-relations/news.html?news=nbk-launches--nbk-direct-remit--for-immediate-cross-border-transactions-using-the-ripplenet-international-network 
https://www.wsj.com/articles/crypto-craze-drew-them-in-fraud-in-many-cases-emptied-their-pockets-11545820200?mod=cx_picks&cx_navSource=cx_picks&cx_tag=contextual&cx_artPos=4#cxrecs_s

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