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Cryptocurrencies reverse, turn lower, as Binance enables crypto purchasing through credit cards

Jan 31, 2019

 

 
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies

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$3466.82 0.45% -0.6% -3.74% USD$60,710,700,066 USD$5,776,037,053
Ethereum ETH USD$107.37 0.56% -1.47% -8.45% USD$11,236,822,889 USD$2,753,056,036
XRP XRP USD$0.31 1.39% -2.65% -1.84% USD$12,834,338,853 USD$779,817,405
EOS EOS USD$2.33 0.57% -0.52% -4.82% USD$2,109,942,349 USD$665,300,561
Litecoin LTC USD$31.61 0.44% -0.94% -3.01% USD$1,904,699,553 USD$649,893,172

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

On Mobile/Tablet scroll to the right

Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
EOS EOS USD$2.33 0.57% -0.52% -4.82% USD$2,109,942,349 USD$665,300,561
Bitcoin BTC USD$3466.82 0.45% -0.6% -3.74% USD$60,710,700,066 USD$5,776,037,053
Dash DASH USD$68.48 0.27% -0.9% -6.64% USD$589,318,479 USD$134,247,921
Litecoin LTC USD$31.61 0.44% -0.94% -3.01% USD$1,904,699,553 USD$649,893,172
Ethereum ETH USD$107.37 0.56% -1.47% -8.45% USD$11,236,822,889 USD$2,753,056,036

 

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Crypto Market Recap

  • Cryptocurrencies reversed this morning and are trading broadly lower this afternoon as the price of Bitcoin (BTC) is down 0.79% in the last 24 hours to USD$3,460.32. All but one of the 20 largest cryptocurrencies by market capitalization are in the red with Binance Coin (BNB) being the exception, up 0.32% in the last 24 hours to USD$6.18. TRON (TRX) is seeing the steepest losses among major coins today, down 5.49% in the last 24 hours to USD$0.025726.

Crypto Developments in Financial Services

  • Binance, the world’s largest cryptocurrency exchange by daily trading volume, has added support for cryptocurrency purchases using a credit card, according to an official press release. Binance is enabling cryptocurrency purchases through use of a credit card by partnering with Simplex, a payments processor. Binance CEO Changpeng Zhao discussed that he, “wants to provide Binance traders with fast and easy access to crypto, in the most secure way possible.”  
  • Boerse Stuttgart Group, Germany’s second-largest stock exchange, has officially launched a mobile cryptocurrency trading application, according to an official tweet today. Dubbed Bison, the cryptocurrency trading application was developed by FinTech Sowa Labs, a subsidiary of Boerse Stuttgart Digital Ventures. The application offers free trading of major cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Blocknox, another subsidiary of Germany’s second-largest stock exchange, will act as the custodian for funds held by users through the application.  
  • Staked, aa cryptocurrency startup that targets institutional investors of proof-of-stake cryptocurrencies, announced that it raised USD$4.5mm in a fundraising round led by Pantera Capital. Other major crypto firms participated in the fundraising round, including Coinbase Ventures, Digital Currency Group, Winklevoss Capital, Global Brain, Fabric Ventures, and Blocktree Capital. On news of an investment in Staked, Pantera Capital partner Paul Veradittakit commented, “Pantera invests in many leading proof-of-stake projects, so we knew we needed a staking solution. We liked Staked because of the experienced team, focus on institutions, and broader vision around helping investors earn yield on their cryptocurrency.”

Crypto Regulatory Environment

  • South Korea’s Financial Services Commission (FSC) confirmed in a press release Wednesday that it will continue to keep and enforce its country-wide ban on Initial Coin Offerings (ICOs). South Korea’s FSC initially banned ICOs in September 2017 due to their lack of stability and vulnerability to manipulation. In September 2018, South Korea’s FSC discovered from conducting a survey that firms conducting ICOs were making use of foreign jurisdictions while still raising funds from South Korean nationals.

General Crypto News

  • Merck, a global pharmaceutical giant, has been awarded a blockchain patent by the United States Patent and Trademark Office (USPTO), as per a report by Cointelegraph. The patent describes a system that uses a combination of Artificial Intelligence (AI) and blockchain technology to determine whether or not physical objects are authentic. Merck elaborated on the patent in a press release, saying, “The new technology uses machine learning to link physical objects to a blockchain through their own unique identifiers or ‘fingerprints’.” The technology can be applied to various unique patterns, including chemical signatures, DNA, and/or image patterns.  
  • Energinet, a Danish state-owned energy company, intends to expand its partnership with distributed ledger network Iota in order to explore new applications for Internet of Things (IoT) in the energy industry. According to an Iota blog post, “This collaboration will include services applicable to Energy and adjacent areas such as smart cities, smart buildings, and mobility,” adding, “This will be done through joint Proofs of Concepts (PoCs) and participation in collaborative IOTA initiatives.”  
  • Wrapped Bitcoin (WBTC), a token based on the Ethereum (ETH) network and backed 1:1 by Bitcoin (BTC), officially launched Thursday, as per a press release on the network’s website. Developed in partnership by BitGo, Kyber Network, and other blockchain technology firms, Wrapped Bitcoin is meant to provide users with a, “wide variety of new decentralized use cases including on decentralized exchanges (DEXs), as collateral for stablecoins or lending, for payments, and flexible smart contracts within the Ethereum ecosystem.”

 

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

Sources:

http://www.fsc.go.kr/info/ntc_news_view.jsp?bbsid=BBS0030&page=1&sch1=&sword=&r_url=&menu=7210100&no=32932 
https://blog.iota.org/energinet-and-the-iota-foundation-to-drive-internet-of-things-integration-in-the-energy-ecosystem-b29ffa150513?gi=451027abcaca 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/danish-governments-energinet-signals-iota-deal-to-improve-energy-sector-offerings 
https://cointelegraph.com/news/ethereum-based-wrapped-token-backed-by-bitcoin-launches 
https://cointelegraph.com/news/germanys-2nd-largest-stock-exchange-boerse-stuttgart-launches-crypto-trading-app 
https://cointelegraph.com/news/germanys-2nd-largest-stock-exchange-to-launch-zero-fee-crypto-trading-app 
https://cointelegraph.com/news/global-pharma-giant-merck-wins-us-blockchain-ai-patent-for-product-authenticity 
https://cointelegraph.com/news/new-ethereum-based-token-to-be-backed-by-bitcoin 
https://cointelegraph.com/news/pantera-capital-coinbase-back-crypto-startup-staked-in-45-million-round 
https://cointelegraph.com/news/south-korea-will-keep-ico-ban-says-financial-services-commission 
https://cointelegraph.com/news/top-exchange-binance-adds-support-for-credit-card-purchases-of-major-cryptos 
https://de.cointelegraph.com/news/merck-patentiert-sicherheitsverfahren-auf-basis-von-ki-und-blockchain-technologie 
https://medium.com/@staked/staked-raises-seed-round-to-help-investors-compound-their-crypto-assets-f72049821974 
https://twitter.com/bisonapp/status/1090920632659922945 
https://www.boerse-stuttgart.de/de-de/handel/kryptowaehrungen-handeln/bison/ 
https://www.coindesk.com/binance-users-can-now-pay-for-crypto-with-credit-cards 
https://www.coindesk.com/germanys-no-2-stock-exchange-launches-mobile-app-for-crypto-trading 
https://www.coindesk.com/pantera-coinbase-join-4-5-million-round-in-staking-as-a-service-startup 
https://www.coindesk.com/south-korea-will-maintain-ico-ban-after-finding-token-projects-broke-rules

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