Market Update 11.09.18 – Binance Launches Analysis Division

| Publish date: 11/09/2018
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Binance Launches Analysis Division

The world’s largest cryptocurrency exchange in terms of trading volume, Binance has launched a new analysis wing which will develop “institutional-grade” research reports. This new division will be called Binance Research and will prepare research reports with the focus of increasing transparency as well as improving the quality of information within the cryptocurrency industry.

Binance Research is not the first project the exchange is fostered beyond its original business operations. In early October, Binance had announced that it was going to donate all its listing fees to charity. The exchange would also allow developers to decide the amount they wished to pay – without setting a minimum fee.

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Shrem Wins First Round Against Winklevoss Twins     

The entrepreneur and early BTC supporter Charlie Shrem has won the first round in an ongoing lawsuit that was filed against him by the Winklevoss Twins, Tyler and Cameron. The lawsuit was filed through their company, Winklevoss Capital Fund.

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The US District Court for the Southern District of New York’s Judge Jed Rakoff filed a court document on Thursday, lifting a $30 million attachment that had earlier been granted against Shrem. The attachment order had been granted on October 2, but had remained under seal till October 26. This order allowed the US Marshall for the Southern District to freeze Shrem’s assets.

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DMG Energizes New Crypto Mining Facility

DMG Blockchain Solutions Inc., the Canadian cryptocurrency and Blockchain company, has put its new cryptocurrency mining facility into operation. In an announcement that was published on November 8, DMG stated that the new crypto mining facility would start with a capacity of 60 megawatts but could later be scaled up to 85 megawatts.

It was earlier in July that DMG had announced its intention to launch a cryptocurrency mining facility, one that would operate at an industrial scale and would have direct support from both the local government as well as local electricity providers.

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Total Market Cap: Nov 09

The crypto market’s valuation slipped a little more by $1.99 billion to $214.26 billion. The market’s volume of trade also fell by another $0.51 billion to $14.16 billion.

Bitcoin Price Analysis: Nov 09

The price of Bitcoin fell another 0.98% to trade at $6439.20 since yesterday. BTC’s market worth is $111.82 billion and is trading at volumes of $4.67 billion.

Ethereum Price Analysis: Nov 09

Ethereum dropped another 1.58% to its current price of $212.47 in the last 24 hours. The crypto’s market valuation is currently at $21.90 billion and its volumes of trading are at $1.76 billion.

State of the Top 10 Cryptocurrencies: Nov 09

Stellar is the only one of the top ten cryptocurrencies that is currently in the green in trading so far today. The altcoin is up by 2.15%. The rest of the top ten cryptos are all in the red. The biggest loss is being felt by Ripple, which is down by 4.79%, followed by Bitcoin Cash, which has lost 4.58% so far, and Monero, which has dropped by 3.25% since yesterday.

  • Bitcoin’s price is $6485.17, sliding 0.98%. The digital currency’s current worth is $111.82 billion.
  • Ethereum’s price is $212.47, sliding 1.58%. The digital currency’s current worth is $21.90 billion.
  • Ripple’s price is $0.502447, sliding 4.79%. The digital currency’s current worth is $20.20 billion.
  • Bitcoin Cash’s price is $571.72, sliding 4.58%. The digital currency’s current worth is $9.97 billion.
  • EOS’s price is $5.50, sliding 1.60%. The digital currency’s current worth is $4.98 billion.
  • Stellar’s price is $0.261227, gaining 2.84%. The digital currency’s current worth is $4.95 billion.
  • Litecoin’s price is $52.51, sliding 2.15%. The digital currency’s current worth is $3.10 billion.
  • Cardano’s price is $0.076332, sliding 1.43%. The digital currency’s current worth is $1.97 billion.
  • Monero’s price is $107.35, sliding 3.25 %. The digital currency’s current worth is $1.77 billion.
  • Tether’s price is $0.993741, sliding 0.13%. The digital currency’s current worth is $1.76 billion.
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