Crypto Market Update (10 September 2018)

Bitcoin Global News (BGN)

September 10, 2018 -- ADVFN Crypto NewsWire
 

 

 

General Market Outlook

The market continues leaning toward a downtrend over the weekend and through the past 24 hours. Nearly all coins are in the red and trading volume has hovered only around $11 billion in 24 hours. Industry experts believe the movement is associated with recent decisions by American government on Bitcoin exchange traded products and futures. Bitcoin Diamond (BCD) and Waves (WAVES) are the major stand outs of the top 100 coins by market cap - up over 23% and 20% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,300 for -1.5% and a total market dominance of about 55.9%, and Ethereum (ETH) is right at $200 for -3% change in the past 24 hours. Market cap for the overall cryptocurrency market dropped by about $4 billion, now at $195 billion total.

 

Major Headlines

Paxos Stablecoin Approved by NYDFS

Paxos is launching a stablecoin with regulatory backing from the state of New York. “Paxos Standard,” has been approved and will be regulated by the New York Department of Financial Services (NYDFS). It is fully backed USD. Paxos is already a qualified custodian, meaning it is legally regulated and approved by the U.S.SEC to hold client funds. The token is designed to provide liquidity for investors trading in crypto assets by providing a "digital alternative to cash" that can still see instant transaction settlements. It is based on Ethereum's ERC-20 standard, and can be sent between any two wallets on the ethereum network. Only verified Paxos customers can purchase or redeem tokens on the company's website.

 

SEC Halts Cryptocurrency ETNs

On Sunday the U.S. SEC announced temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) starting at 21:30 (UTC) on September 9 and ending at 03:59 (EDT) on September 21. Both ETNs are issued by Swedish company "XBT Provider", a wholly-owned subsidiary of UK company Global Advisors (Holdings) Limited. The SEC’s statement included some reasoning for the decision: “The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments… It appears to the Securities and Exchange Commission (SEC) that there is a lack of current, consistent and accurate information concerning Bitcoin Tracker One (Ticker Symbol: CXBTF) and Ether Tracker One (Ticker Symbol: CETHF).”

 

Citigroup is developing a cryptocurrency product

Citigroup is developing a cryptocurrency product to give institutional investors access to crypto markets without owning cryptoassets directly. They will reportedly use American Depositary Receipts (ADR), which is a type of security issued since the 1920s that represents securities of a non-U.S. company. The end product will be known as a Digital Asset Receipt (DAR). Development is in the early stages, with no timeline set in place.

 

Top 5 Gainers

FUTURAX (FTXT) +101.27% at $0.000171

Crypterium (CRPT) +40.13% at $0.315968

QunQun (QUN) +39.90% at $0.009947

Uquid Coin (UQC) +39.72% at $0.627735

HeroNode (HER) +34.10% at $0.003003

 

Top 5 Losers

PKG Token (PKG) -78.50% at $0.000075

Couchain (COU) -43.56% at $0.000036

EPLUS Token (EPLUS) -39.76% at $1.48

IGToken (IG) -34.61% at $0.000160

EliteShipperToken (ESHIP) -33.34% at $0.000029

 

New Coins Listed

Dentacoin (DCN) listed to LAToken

Quanta (QNTU) listed to Cryptopia

 

 

 

By: BGN Editorial Staff

















 

News:

Bitcoin (BTC)

Ethereum (ETH)

Bitcoin Diamond (BCD)

Waves (WAVES)

Cryptocurrencies

FUTURAX (FTXT)

Crypterium (CRPT)

QunQun (QUN)

UQUID CARD (UQC)

HeroNode (HER)

PKG Token (PKG)

Couchain (COU)

EPLUS Coin (EPLUS)

IGToken (IG)

EliteShipperToken (ESHIP)