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Cryptocurrencies Trade Mostly Lower as US Regulator Meets with Facebook over Stablecoin Launch

Jun 03, 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$8582.24 0.03% -1.3% -2.2% USD$152,237,706,456 USD$20,941,846,893
Ethereum ETH USD$262.14 -0.1% -2.32% -2.92% USD$27,876,090,861 USD$9,009,623,497
Litecoin LTC USD$112.23 0.23% -1.53% -2.89% USD$6,965,450,025 USD$3,547,499,871
EOS EOS USD$7.24 0.02% -5.26% -5.31% USD$6,648,100,055 USD$3,523,853,502
XRP XRP USD$0.44 0.04% 0.94% 4.56% USD$18,728,516,660 USD$2,433,087,653

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
Cardano ADA USD$0.1 -0.04% 1.46% 6.12% USD$2,471,221,549 USD$213,323,173
XRP XRP USD$0.44 0.04% 0.94% 4.56% USD$18,728,516,660 USD$2,433,087,653
TRON TRX USD$0.04 -1.11% 0.16% 9.36% USD$2,536,073,461 USD$1,430,773,132
Ethereum Classic ETC USD$9.41 0.08% 0.16% 18.88% USD$1,043,795,690 USD$1,078,895,402
Monero XMR USD$94.11 -0.34% -0.72% -3.04% USD$1,601,744,115 USD$119,665,538

 

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Crypto Market Recap

  • Cryptocurrencies are trading mostly in the red this afternoon with the price of Bitcoin (BTC) down 1.37% over the last 24 hours to $8,575.78. Among major cryptocurrencies, EOS (EOS) and Tezos (XTZ) are leading the declines, falling 5.29% and 5.53% over the last 24 hours to $7.24 and $1.43, respectively. Bitcoin SV (BSV) is leading the broad market in gains today, surging 16.23% over the last 24 hours to $220.03. Cosmos (ATOM) is following closely behind BSV, rallying 15.37% over the last 24 hours to $7.06.

Crypto Developments in Financial Services

  • TRON (TRX) founder and CEO Justin Sun has won the annual eBay charity auction to sit down for lunch with renowned investment guru and prominent crypto critic Warren Buffet. According to an announcement by Sun, he won the auction with a record breaking $4,567,888 bid – Buffet has hosted the auction in each of the last 20 years. The winner of the auction is allowed to bring seven guests of their choice to the dinner with Buffet and Sun has expressed an interest in bringing along other crypto industry proponents to the dinner.

Crypto Regulatory Environment

  • US Securities and Exchange Commission Commissioner Hester Peirce called on fellow regulators to institute a less cautious approach regarding innovations of exchange-traded funds (ETF), according to the Financial Times. Peirce commented that the SEC is, “still smothering ETFs with personalized attention as if they were infants.” Regarding cryptocurrencies, Peirce also discussed that she believes the SEC was wrong to reject the Bitcoin (BTC) ETF application introduced by the Winklevoss twins and Gemini, a popular US-based crypto exchange.  
  • Tech giant Facebook is reportedly in talks with the Commodity Futures Trading Commission (CFTC) regarding the launch of its upcoming stablecoin, according to a report this weekend from the Financial Times. The report cites CFTC Chairman J. Christopher Giancarlo, who said in regards to Facebook’s stablecoin, “We’re very interested in understanding it better.” Facebook has yet to submit a formal application to the CFTC regarding the launch of its stablecoin, dubbed Globalcoin,  according to Giancarlo.

General Crypto News

  • Block.one, the parent company behind major altcoin EOS (EOS), has announced intentions to launch Voice, a blockchain-based social media platform. According to a press release on June 1st, Voice will leverage the EOS blockchain to institute transparency in its operations without utilizing hidden algorithms or content pushing systems that users are typically unaware of. As per comments from CEO Brendan Blumer in the press release, “The truth is, current social media platforms are designed to use their users. Just look at the business model. Our content. Our data. Our attention. These are all incredibly valuable things. But right now, it’s the platform, not the user, that reaps the reward.”

 

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

Sources:

https://bitcoinist.com/facebook-globalcoin-cftc-bitcoin-permission/ 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/eos-developer-blockone-announces-blockchain-based-social-media-platform-voice 
https://cointelegraph.com/news/ft-us-regulator-cftc-in-talks-with-facebook-over-rumored-crypto-plans 
https://cointelegraph.com/news/sec-commissioner-hester-peirce-encourages-less-caution-toward-etf-innovation 
https://cointelegraph.com/news/trons-justin-sun-wins-ebay-charity-auction-in-457m-bid-to-lunch-with-warren-buffett 
https://www.bloomberg.com/tosv2.html?vid=&uuid=fd148120-8617-11e9-88a3-81760e59b787&url=L25ld3MvYXJ0aWNsZXMvMjAxOS0wNi0wMS9idWZmZXR0LXMtY2hhcml0eS1hdWN0aW9uLWJyZWFrcy1yZWNvcmQtd2l0aC00LTU3LW1pbGxpb24tYmlk 
https://www.coindesk.com/block-one-is-launching-a-social-media-platform-on-the-eos-blockchain 
https://www.ft.com/content/3b2084fe-83c6-11e9-b592-5fe435b57a3b 
https://www.ft.com/content/91a7a30c-d2a7-3c4d-9ccd-5908e88599a3 

 

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