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Cryptocurrencies extend rally, Novogratz ups stake in Galaxy Digital

Jan 02, 2019

 

 
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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$3924.52 0.53% 4.19% 2.54% USD$68,519,581,036 USD$5,195,198,746
Ethereum ETH USD$156.11 1.86% 11.54% 20.18% USD$16,260,066,318 USD$3,253,999,499
EOS EOS USD$2.87 0.21% 8.79% 11.87% USD$2,601,214,603 USD$807,664,371
XRP XRP USD$0.37 0.19% 4.0% 0.4% USD$15,280,896,524 USD$533,267,016
Litecoin LTC USD$33.36 0.78% 5.32% 9.34% USD$1,996,633,844 USD$411,910,203

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
Ethereum ETH USD$156.11 1.86% 11.54% 20.18% USD$16,260,066,318 USD$3,253,999,499
Monero XMR USD$52.36 -0.84% 10.69% 7.59% USD$873,962,143 USD$23,746,272
OmiseGO OMG USD$1.53 1.26% 10.66% 4.68% USD$215,182,456 USD$42,111,615
EOS EOS USD$2.87 0.21% 8.79% 11.87% USD$2,601,214,603 USD$807,664,371
IOTA MIOTA USD$0.39 0.14% 7.22% 17.97% USD$1,079,766,781 USD$13,027,803

 

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Crypto Market Recap

  • Cryptocurrencies are continuing to trade higher after rallying in New Year’s trading as the price of Bitcoin (BTC) is up 4.18% in the last 24 hours to USD$3,924.14. Ethereum (ETH) is continuing to lead the broad crypto market rally, up 11.47% in the last 24 hours to USD$156.01 while Monero (XMR) follows closely behind, up 10.69% in the last 24 hours to USD$52.36. Among major coins, Waves (WAVES) is the laggard, up just 1.92% in the last 24 hours to USD$3.16.

Crypto Developments in Financial Services

  • The Philippines Securities and Exchange Commission (PSEC) has postponed its deadline for issuing final Initial Coin Offering (ICO) regulation, according to local news outlet The Philippine Star. The regulator had previously set a deadline for ICO regulation by the end of 2018. In its draft regulatory guidelines, the PSEC concluded that tokens created during an ICO may be classified as securities, and, “therefore, these should be registered with the Commission and necessary disclosures need to be made for the protection of the investing public.” 
  • A working regulatory group dedicated to cryptocurrencies and blockchain technology has been established by the South African government, according to a report by news outlet BusinessLive. In a written reply to a parliamentary question by Freedom Front Plus MP Wouter Wessels, Tito Mboweni, South Africa’s Finance Minister, said, “It is anticipated that, following broad industry comment and participation, the crypto assets regulatory working group will be ready to release a final research paper on the subject during the course of 2019.” Additionally, Mboweni detailed that cryptocurrencies will be included in the country's tax forms next year.

Crypto Regulatory Environment

  • Mike Novogratz, a former Goldman Sachs partner and founder of Galaxy Digital, has upped his stake in the crypto-focused merchant bank, according to a report by Bloomberg. Novogratz reportedly increased his ordinary share holdings from 213.7mm to 221.2mm, increasing his total stake in Galaxy Digital from 79.3% to 76.6%. The 7.5mm shares acquired by Novogratz cost him roughly CAD$7.2mm (USD$4.8mm). Galaxy Digital is currently listed and trades on Canada’s TSX Venture Exchange. 
  • Lamassu, the oldest Bitcoin (BTC) ATM company in the world, has announced the move of its headquarters to Lucerne, Switzerland. Commonly referred to as, “Crypto Valley”, the city of Lucerne aims to be a global cryptocurrency haven. “Crypto Valley is alive and kicking and we’re excited to be in an area so rich in crypto development and blockchain events,” wrote Lamassu in an official Medium blog post.

General Crypto News

  • HitBTC, a notable cryptocurrency exchange, is facing mounting criticism after deliberately freezing account withdrawals on January 1st, just days before Trace Mayer’s Proof of Keys event. Proof of Keys is a call to action started last month that urges crypto investors to move their coins from third-party platforms in order to take control of their own private keys. The reason for the Proof of Keys event is to empower crypto investors to stop relying on middlemen while educating themselves about the industry.

 

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

Sources:

https://coinmarketcap.com/ 
https://coin360.io/ 
https://cointelegraph.com/news/south-african-government-establishes-crypto-assets-regulatory-working-group 
https://www.businesslive.co.za/bd/national/2019-01-02-government-tackling-crytocurrency-challenge-says-finance-minister/ 
https://cointelegraph.com/news/hitbtc-account-freezes-in-spotlight-as-trace-mayer-john-mcafee-claim-foul-play 
https://www.reddit.com/r/hitbtc/comments/abdh21/hitbtc_restricting_my_account_account_has_passed/ 
https://twitter.com/TraceMayer/status/1080287680804646918 
https://twitter.com/officialmcafee/status/1080308646028947457 
https://bitcoinist.com/hitbtc-trace-mayer-john-mcafee-keys/ 
https://bitcoinist.com/lamassu-bitcoin-atm-switzerland/ 
https://medium.com/@lamassu/we-are-now-lamassu-industries-ag-of-lucerne-switzerland-8b2dcf4882c8 
https://cointelegraph.com/news/mike-novogratz-ups-stake-in-galaxy-digital-to-own-almost-80-of-shares 
https://www.bloomberg.com/news/articles/2019-01-02/novogratz-increases-stake-in-galaxy-digital-in-wake-of-meltdown 
https://cointelegraph.com/news/novogratz-s-crypto-bank-galaxy-digital-to-start-trading-aug-1-on-canadian-exchange 
https://www.coindesk.com/novogratz-increases-stake-galaxy-digital-crypto-fund 
https://www.ccn.com/bitcoin-bull-mike-novogratz-boosts-stake-in-galaxy-digital-to-79-causing-stock-to-soar/ 
https://cointelegraph.com/news/philippine-securities-regulator-postpones-ico-regulation-release 
https://www.philstar.com/business/2018/12/31/1881056/sec-defers-issuance-final-rules-icos 
https://www.ccn.com/issuance-of-final-ico-regulations-in-the-philippines-postponed-by-market-regulator/

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