This Week in Crypto: Aug 3, 2018
Don’t Tread on My Trend Line
The asset-wide crypto marketplace took a strike this week. Following a week of near-gains that was nixed by a discerning sell-off following the SEC’s rejecting of the Winklevosses’ latest ETF filing, crypto’s altogether marketplace tip has depressed 8% on the week. At $263 billion, it’s sitting just above some of the lowest numbers it’s posted this year.
Bitcoin: At $7,400, Bitcoin has mislaid 6% of the value over the week.
Ethereum: Fairing worse, Ethereum is down 10% on the week at $413.
XRP: Nearly stagnant, XRP has only mislaid 2% this week, sporting a cost tab of $0.43.
Dept. of Treasury’s Recent Fintech Report Briefly Addresses Blockchain: In a news to President Trump entitled “A Financial System That Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation,” the US Department of the Treasury broached the subject of blockchain along other burgeoning FinTech technologies like AI, cloud computing, and others. “New technologies, like predictive information analytics, synthetic intelligence, and blockchain or distributed bill technology, are examples of earnest innovations that could be used by financial services firms. They are also technologies for which regulatory diagnosis might be uncertain, if for no other reason than that innovative record requires time to mature,” the news reads.
In the US, Blockchain Funding In 2018 is Exceeding 2017 Numbers: In a news by KPMG, the big 4 organisation found that, along with general FinTech investments outpacing 2017’s sum so distant into 2018, blockchain investments in the US are on the rise, as well. “In the first half of 2018, blockchain investment in the US exceeded the sum investment seen in 2017, led by $100 million+ appropriation rounds to R3 and Circle Internet Finance. A number of other poignant blockchain deals also occurred during Q1 and Q2’18, including Paxos’ $65 million Series B lift directed at assisting it scale operations for smoothness of the blockchain platform,” the news reads.
Long Blockchain, Formerly Long Island Iced Tea, Slapped With Subpoena From SEC: At the tallness of bitcoin’s hype last year, Long Island Ice Tea decided it would change the name to Long Blockchain. The pierce was a bonus to the tea maker, as the batch rose over 300% in response to the rebranding. Well, the SEC took notice, requesting financial papers with a Jul 10th subpoena. “The association is entirely auxiliary with the SEC’s investigation,” the association pronounced in a statement. “The association can't envision or establish either any move might be instituted by the SEC in tie with the summons or the outcome of any move that might be instituted.”
Bill Clinton to Kickoff Ripple‘s Oct Tech Conference With Keynote Address: The 42nd President of the United States, Big daddy Bill Clinton, is slated to give the rudimentary keynote debate at Ripple’s tumble conference, Swell, which will be hold in San Francisco, CA on the 1st and 2nd of October. Ripple chose the former boss to open the discussion because, “[at] a time when groundbreaking record and law were mostly on a collision course, President Clinton helped chaperon in a duration of impassioned expansion and adoption of the Internet, moulding what it is today. He also determined programs that bridged the “digital divide” and brought new record to underserved communities around the world,” the announcement’s blog post reads.
— Ripple (@Ripple) July 31, 2018
Study: Only 2% of US Investors Hold Bitcoin, Crypto in Some Form: A jointly conducted check by Gallup and Wells Fargo shows that bitcoin is still comparatively uncharted domain for most US investors. According to the study’s finding, “just 2% of investors contend they now possess bitcoin, and reduction than 1% devise to buy it in the nearby future. While most investors contend they have no seductiveness in ever shopping bitcoin, about one in 4 (26%) contend they are intrigued by it but won’t be shopping it anytime soon.”
Decentralized Exchange Launches in San Francisco, Uses XRP as Base Currency: San Francisco-based DCEX sell launched this week. Using XRP as a bottom currency, the sell is powered by a blockchin tallness built by AlphaPoint. “DCEX is a next-generation crypto-to-crypto marketplace, with all currencies trade opposite XRP (XRP) as a bottom currency. Clients will be means to trade a sum of 15 silver pairs – XRP, Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum classical (ETC), OmiseGo (OMG), EOS (EOS), DASH (DASH), Tron (TRX), Monero (XMR), VeChain (VEN), IOTA (IOTA), ZCash (ZEC), and stable-coin TrueUSD (TUSD), with skeleton to supplement Neo (NEO), Cardano (ADA), and more pairs in the entrance months. Additionally, DCEX offers entrance to all 10 coins listed in the Bloomberg Galaxy Crypto Index (BGCI) in one location,” an central blog post reads.
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Indian State Government to Implement Blockchain Technology: On Jul 26th, the Indian state of Telangana announced initiatives to precedence blockchain to lessen the pervasive crime and fake activity embedded in state and inhabitant governments.
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New British Market Study Highlights Lack of Cryptocurrency Understanding: Even though the courtesy will be a decade old soon, there’s still copiousness of disagreement surrounding it.
Cryptocurrency Market Capitalization: What Is It? How Do You Use It?: A beginner metric, marketplace tip is an essential apparatus for any financier and trader.
Ethereum vs. EOS | An Analysis of Blockchain’s Two Largest Dapp Platforms: If Bitcoin and Bitcoin Cash are healthy opposites, Ethereum and EOS are pitter-patter up a adversary to opposition crypto’s two biggest hostile coins.
Part 3: Interview with Andy Levine on Steem Today and Tomorrow: Check out turn 3 of our talk with Steem’s Andy Levine.
Bermuda, Malta, Gibraltar, and Liechtenstein Lure Cryptocurrency Companies: These small countries are looking to attract big players to their borders.
How to Buy Ripple on GateHub | Step-by-Step Guide: A laconic beam to purchasing Ripple on GateHub.
uPort’s Danny Zuckerman on Self-Sovereign Identity: Please suffer this ominous review on the stream state and expansion of digital identity.
Cryptocurrency News From Around the World
Indian State Government to Implement Blockchain Technology: The Indian state of Telangana announced a horde of initiatives this week that will look to blockchain to military the crime and rascal that plagues Telangana’s government. Last month, the state introduced blockchain solutions into the government’s land registry and income departments in a bid to boost transparency, a medicine response to firm the temptation that occurs in roughly 38% of the state’s genuine estate transactions.
Börse Stuttgart, Germany’s Second Largest Stock Exchange, Plans ICO, Multilateral Trading Facility: Börse Stuttgart is adding to the workload. A month out from the recover of the expected Bison crypto trade app, Germany’s second largest batch sell has announced the skeleton to emanate an ICO platform, as well as a multilateral crypto trade venue. The two services would be useful avenues of liquidity for any in the ICO marketplace who use it while also fluctuating Börse Stuttgart strech into the industry. “At the trade venue tokens released around our ICO tallness can be traded on the delegate market. This is an critical success cause for ICOs. At the same time we are responding to direct from both sell and institutional investors for a regulated and arguable sourroundings for trade with cryptocurrencies,” CEO Alexander Höptner pronounced in a statement.
Boerse Stuttgart to Host Crypto Trading and Coin Offerings – https://t.co/iG6GsvLKcp
Advertise #ICO https://t.co/89O4ciDsi7
#bitcoin #btc #bitcoinnews #cryptocurrency #blockchain #btcusd #比特幣新聞 pic.twitter.com/Q6XPXWWeEn
— Bitcoin News (@TheBitcoinNews) August 3, 2018
South Korean Financial Agency Makes a Case for Blockchain’s Integration into Stock Market: In a news to internal and regulators and officials, the South Korean Financial Supervisory Service (FSS) has implored domestic municipalities to start building solutions for blockchain’s formation with normal financial systems and platforms. The group binds that blockchain could make settling batch marketplace sell faster and safer than stream software. According to the report, it took note of blockchain’s use in general batch markets, profitable special courtesy to Nasdaq’s use of blockchain for record gripping and private data.
Morgan Stanley Hires Credit Suisse Crypto Advocate, Trader as Head of Digital Markets: One of the world’s largest multinational banks, is inching serve toward the cryptocurrency industry. This time in the form of a new hire, the investment bank has hired Andrew Peel, an worker at Credit Suisse and a self-described consultant in cryptocurrency trading, as the new conduct of digital markets. Peel formerly spent 12 years at Credit Suisse, portion 9 of them as a derivatives trader, and he’s been a cryptocurrency disciple since 2013.
Binance Acquires TrustWallet, the Exchange’s First Public Acquisition: Binance has bought out TrustWallet, a decentralized, open source Ethereum wallet that supports “over 20,000 different Ethereum formed tokens (ERC20, ERC223 and ERC721),” according to a Binance blog post. The merger of TrustWallet will supplement an on-chain mobile wallet to the list of Binance services with other destiny formation possibilities. The TrustWallet code and group will keep the liberty and leisure to rise the core product while benefiting from the increasing synergy from Binance, including the extended user bottom and the arriving DEX,” the post continues to read. Binance CEO Changpeng Zhao indicated that acquisitions have an critical purpose to play for sappy this industry, hinting that this could be the first of many for Binance: “We’re looking for clever tech teams. Acquisition will be a very pivotal member to stability to grow and contributing to this industry.”
Bitmain Posts Impressive $1 bln in Profit for Q1 of 2018, Plans IPO: Chinese mining hulk Bitmain has netted a towering $1 bln in profit–not revenue, mind you–in Q1 of 2018. On the tail end of this news, an unnamed source told Fortune that the association was creation advance with the IPO, which Juhan Wu, Bitmain’s CEO, hinted at in June. The source indicated that the IPO will launch “very soon” in an abroad marketplace that will concede investors to buy into the charity with USD.
Article source: https://coincentral.com/this-week-in-crypto-august-3-2018/