Market Update 8.30.18 – California Passes Bill for Blockchain Working Group

| Publish date: 08/30/2018
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California Passes Bill for Blockchain Working Group

The California State Legislature has passed bill AB 2658, which calls for the setting up of a Blockchain technology working group. The bill has been passed by both Houses of the state and is heading for final approval by the Governor of California. According to this bill, the Secretary of Government Operations Agency is required to form a Blockchain focused working group latest by July 1, 2019.

The bill also states that the group’s members should have representation from both technology as well as non-tech industries, law as well as organizations related to privacy as well as consumer interest.

Find out more here.

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TMON Raises $32 Million in Seed Round

TMON, the founder of the $1.4 billion startup called Unicorn, announced this week that it has raised a $32 million seed round which he is going to use to create a stablecoin. This stablecoin is going to be called Terra and is attracting some really big investors.

This is because while there may be a number of stablecoins that have been launched in the last few years, Terra is unusual in that it comes with an existing user base. This project already has a significant consortium of partners, together who form the Terra Alliance.

Read the rest of the story here.

OpenFinance Debuts ATS for Securities Tokens

Security token trading platform, OpenFinance revealed that it has debuted a new regulated ATS (Alternative Trading System) focused on security tokens. An ATS is a trading venue that is not an exchange and it matches buyers to sellers for transactions. These venues are usually classified as broker-dealers rather than exchanges.

Earlier in August, the company had announced that it had gone into a partnership with cryptocurrency exchange Huobi as a way to creating a more regulated securities token market.

Find out more here.

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Total Market Cap: August 30

Trading volumes in the crypto market are at $12.91 billion, a slight drop in the last 24 hours. The valuation of the market has also slipped by about $5 billion to $225.65 billion.

Bitcoin Price Analysis: August 30

Bitcoin’s price slipped 1.15% since yesterday to $6991.63. The valuation of Bitcoin is at $120.49 billion and its volume in trading is $4.14billion.

Ethereum Price Analysis: August 30

Ethereum’s price dropped by 3.05% since yesterday to $283.98. ETH’s value in the market is now $28.79 billion and its volume of trade is $1.46 billion.

State of the Top 10 Cryptocurrencies: August 30

Most of the cryptocurrencies are in the red during trading so far today. The biggest drop was witnessed in the top ten cryptocurrency list by IOTA, which plunged by 11.54%. Other cryptocurrencies in the top ten that performed badly were Ripple, which fell by 4.09%, Stellar, which dropped by 4.02% and Ethereum, whose price nosedived by 3.05%

  • Bitcoin slipped 1.15% to trade at a price of $6991.63. The crypto’s market valuation is currently $120.49 billion.
  • Ethereum slipped 3.05% to trade at a price of $283.98. The crypto’s market valuation is now $28.79 billion.
  • Ripple slipped 4.09% to trade at a price of $0.331802. The crypto’s market valuation is now $13.15 billion.
  • Bitcoin Cash slipped 2.36% to trade at a price of $544.91. The crypto’s market valuation is now $9.43 billion.
  • EOS slipped 1.71% to trade at a price of $5.90. The crypto’s market valuation is now $5.34 billion.
  • Stellar slipped 4.02% to trade at a price of $0.221849. The crypto’s market valuation is now $4.16 billion.
  • Litecoin slipped 2.95% to trade at a price of $60.52. The crypto’s market valuation is now $3.51 billion.
  • Tether gained 0.42% to trade at a price of $1. The crypto’s market valuation is now $2.78 billion.
  • Cardano slipped 2.49% to trade at a price of $0.101004. The crypto’s market valuation is now $2.61 billion.
  • IOTA slipped 11.54% to trade at a price of $0.686185. The crypto’s market valuation is now $1.90 billion.
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