Market Update 11.04.18 – Bithumb, Series One Launching Security Token Exchange
Market News
Bithumb, Series One Launching Security Token Exchange
South Korean crypto exchange Bithumb has teamed up with crowdfunding platform seriesOne to launch a compliant security token exchange in the U.S. The joint venture was revealed in a press release from seriesOne, which adds that the exchange launch is still subject to regulatory approvals from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
SeriesOne already offers an SEC-regulated platform that supports projects launching initial token offerings, as well as traditional equities and debt offerings.
“I believe that our companies will be able to create a unique product to not only tokenize major assets, but that could also create liquidity through a compliant token exchange,” said seriesOne CEO Michael Mildenberger.
Read the full report here.
Crypto Markets See Mixed Signals
Crypto markets have seen mixed signals over the day, with most of the top 20 cryptocurrencies by market cap experiencing slight fluctuations. Bitcoin Cash (BCH) and Stellar (XLM) are seeing significant gains on the day of more than 3.5 percent.
Following a slight price rebound, Bitcoin (BTC) has failed to foothold the $6,400 price point today. The major cryptocurrency is down around 0.4 percent over the past 24 hours and is trading at around $6,348 at press time. The intraday high of Bitcoin’s price has amounted to $6,400, while the lowest price point has constituted to $6,342.
Earlier today, it was reported on the research by a group of analysts from Northeastern University and the University of Maryland claiming that Ethereum smart contracts have a lack of diversity, which reportedly poses a threat to ETH blockchain ecosystem.
Read the full report here.
Russian State Duma Committee Issues Stablecoin
The chairman of Russia’s State Duma Committee on Financial Markets has claimed that the entity is considering the launch of state-backed cryptocurrency pegged to the Russian ruble. Speaking at a press conference on the increase of the household debt load, Chairman Anatoly Aksakov expressed his confidence that the government will back a cryptocurrency, “but it will be a ruble-pegged cryptocurrency.”
The deputy clarified that the implied coin will represent a blockchain-powered stablecoin pegged 1:1 to the ruble. Aksakov further described the model of creating the stablecoin, stating that the cryptocurrency will be backed by a banking deposit of a certain amount. After that, a banking institution is set to issue a corresponding amount of crypto assets by using blockchain technology and adhering to the 1:1 proportion.
Read the full report here.
Total Market Cap: November 4
The volume of trade in the crypto market sat at $12.11 billion. The market’s capitalization, on the other hand, reached $208.40 billion.
Bitcoin Price Analysis: November 4
In the past 24 hours, Bitcoin jumped 0.05% to trade at $6,369.28. The leading cryptocurrency’s trade volume trickled to $3.97 billion, while its market slid to $110.54 billion.
Ethereum Price Analysis: November 4
Ethereum’s price jumped 0.28% to trade at $200.42. As for the altcoin’s trading volume, it reached $1.40 billion; whereas its market capitalization hit $20.64 billion.
State of the Top 10 Cryptocurrencies: November 4
In the past 24 hours, most prices were up. Meanwhile, Tether dethroned TRON at the 10th spot.
- Bitcoin’s market price jumped 0.05% to $6,369.28, and its value in the market is $110.56 billion.
- Ethereum’s market price jumped 0.28% to $200.42, and its value in the market is $20.64 billion.
- XRP’s market price fell 0.09% to $0.456018, and its value in the market is $18.33 billion.
- Bitcoin Cash’s market price jumped 14.34% to $532.35, and its value in the market is $9.28 billion.
- EOS’ market price jumped 1.23% to $5.41, and its value in the market is $4.90 billion.
- Stellar’s market price jumped 3.04% to $0.241639, and its value in the market is $4.57 billion.
- Litecoin’s market price jumped 4.26% to $53.15, and its value in the market is $3.14 billion.
- Cardano market price jumped 3.42% to $0.073961, and its value in the market is $1.92 billion.
- Monero market price jumped 1.35% to $106.56, and its value in the market is $1.76 billion.
- Tether dethroned TRON at the 10th spot, but its market price fell 1.20% to $0.990543. As for its value in the market, it is $1.76 billion.