Market Update 3.26.19 – Buterin: Crypto Community Needs to Evolve Beyond Individualism
Market News
Buterin: Crypto Community Needs to Evolve Beyond Individualism
According to the co-founder of the Ethereum network Vitalik Buterin, the cryptocurrency community needs to evolve beyond the individualism seen in its early days. He said that the community needs to how harness this technology to create new systems that are equitable and have a positive social impact.
Buterin made these statements during his keynote speech on March 24 in Detroit at the RadicalxChange conference. He had initiated this conference jointly with Glen Weyl, the economist and co-author of the book Radical Markets.
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Bitmain’s IPO Has Expired
Bitmain, the cryptocurrency mining hardware manufacturer’s application for an IPO (initial public offering) with the HKEX (Hong Kong Stock Exchange) has officially expired. HKEX’s website shows an update that Bitmain’s application has been moved to the inactive applications group, and its status shows as lapsed.
If Bitmain still wishes to be listed on the exchange, then it will have to re-apply for its IPO, however then, the company would need to submit additional financial performance reports over and above what was submitted during its initial filing. The last public filing of its financial report was made for the quarter ending on June 30, 2018, which is almost 9 months ago.
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CoinMarketCap to Change Listing Metrics
CoinMarketCap (CMC), the online cryptocurrency market data resource platform stated on social media on March 25 that it would be changing its listing metrics after recent research provided significant evidence of fake trading volumes.
CMC is the cryptocurrency industry’s most well known and reputed market data tracking service for cryptos and exchanges that trade in cryptos. However, research analysis published by the crypto index fund Bitwise showed that nearly all the volume statistics that CMC hosted were fake. The information was passed on by Bitwise to the US SEC (Securities and Exchange Commission) has part of its application for launching a Bitcoin ETF (Exchange Trade Fund).
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Total Market Cap: Mar 26
The cryptocurrency market currently has a capitalization of $137.46 billion, while trading volumes are now at $33.48 billion.
Bitcoin Price Analysis: Mar 26
In the last 24 hours, the price of Bitcoin is down by 1.27% to trade at below the $4k mark once again, at $3958.89 per token. The crypto’s capitalization is now $69.71 billion and trading volumes are at $10.29 billion.
Ethereum Price Analysis: Mar 26
Since yesterday, the price of Ethereum has dropped by 1.85% to trade at $134.75 per token. The crypto’s market capitalization is now $14.20 billion and its trading volumes are at $4.58 billion.
State of the Top 10 Cryptocurrencies: Mar 26
In the last 24 hours, the capitalization of the cryptocurrency market has dropped, as have the values of the top ten cryptocurrencies by market value. Bitcoin Cash is currently the crypto which is experiencing the highest losses with a 3.97% drop in its token price. Binance Coin is close behind with a 3.46% fall in its token price. And Ripple is the third biggest loser with a 1.97% drop in its prices.
- Bitcoin’s trading at $3958.89, dropping 1.27%. Now, the valuation of the digital currency is $69.71 billion.
- Ethereum’s trading at $134.75, dropping 1.85%. Now, the valuation of the digital currency is $14.20 billion.
- Ripple’s trading at $0.302343, dropping 1.97%. Now, the valuation of the digital currency is $12.60 billion.
- Litecoin’s trading at $59.15, dropping 1.67%. Now, the valuation of the digital currency is $3.61 billion.
- EOS’s trading at $3.66, dropping 0.37%. Now, the valuation of the digital currency is $3.31 billion.
- Bitcoin Cash’s trading at $159.35, dropping 3.97%. Now, the valuation of the digital currency is $2.81 billion.
- Binance Coin’s trading at $16.37, dropping 3.46%. Now, the valuation of the digital currency is $2.31 billion.
- Tether’s trading at $1.01, dropping 0.30%. Now, the valuation of the digital currency is $2.03 billion.
- Stellar’s trading at $0.0102020, dropping 3.17%. Now, the valuation of the digital currency is $1.96 billion.
- Cardano’s trading at $0.059902, dropping 0.75%. Now, the valuation of the digital currency is $1.55 billion.