Market Update 9.27.18 – China’s ICO Ban Being Circumvented

| Publish date: 09/27/2018
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Market News

China’s ICO Ban Being Circumvented

According to an investigation conducted by the Xinhua News Agency, it is possible to circumvent the Initial Coin Offering (ICO) ban in China. According to the report, despite the ban, investors have been circumventing the law by using an overseas shell company as one method.

After the ban, domestic crypto exchanges opened shop overseas. However, while they appeared closed in China, they continued to provide trading services for their customers in the country.

Read the full story here.

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FedEx Also Joins Hyperledger Consortium

FedEx, the global shipping behemoth, has now become one of the 14 new members of the Hyperledger consortium. Hyperledger announced in a press release on Wednesday that FedEx, along with Honeywell International and a number of cryptocurrency startups have joined the consortium, as it focuses on building Blockchain powered platforms and applications for entities across the globe.

Hyperledger’s executive director Brian Behlendorf stated the group was gaining traction in segments ranging from finance, healthcare, logistics and even government. He said that this kind of growth was indicative of the increasing recognition of the value of Blockchain.

Read the rest of the story here.

Baidu Releases “Super Chain” White Paper

Baidu, China’s web services and search engine giant, released the Baidu Blockchain White Paper V1.0 yesterday, which outlines the development of a “Super Chain” system. Baidu’s Blockchain Lab released this white paper, introducing the idea of commercializing the company’s cloud Blockchain-as-a-service platform as well as adding 6 apps based on the Super Chain. These apps are Degree Universe, Totem, Treasure Chest, Baidu Association, Hubert and Encyclopedia Online.

Read more about this story here.

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Total Market Cap: Sep 27

Trading volumes are current running at $14.88 billion and the crypto market’s capitalization is currently around $214.63 billion.

Bitcoin Price Analysis: Sep 27

Bitcoin’s price is currently trending at $6483.94, which is a 0.64% increase since yesterday. Bitcoin’s value in the market is currently $112.15 billion and trading volume of the crypto is $6.49 billion.

Ethereum Price Analysis: Sep 27

Ethereum’s token price is currently trending at $216.24, going up by 1.71% in the last one day. The capitalization of Ethereum is at $22.10 billion and its trading volume is currently at $1.65 billion.

State of the Top 10 Cryptocurrencies: Sep 27

Three of the top ten cryptocurrencies  in the market are going down in their token prices; Ripple has lost 0.86% of its price in trading so far today, Tether is down by 0.13% and Cardano is down by 0.09% so far today. However, Bitcoin Cash is the market leader at this time, with its token price soaring at gains of 18.69% for the day so far. The rest of the cryptos are showing only modest gains, with EOS leading the pack with a 3.93% gain.

  • Bitcoin’s token price is trending at $6483.94, increasing by 0.64%. The crypto token’s market value is currently $112.15 billion.
  • Ethereum’s token price is trending at $216.24%, increasing by 1.71%. The crypto token’s market value is currently $22.10 billion.
  • Ripple’s token price is trending at $0.519666, decreasing by 0.86%. The crypto token’s market value is currently $20.71 billion.
  • Bitcoin Cash’s token price is trending at $525.47, increasing by 18.69%. The crypto token’s market value is currently $9.12 billion.
  • EOS’s token price is trending at $5.59, increasing by 3.93%. The crypto token’s market value is currently $5.06 billion.
  • Stellar’s token price is trending at $0.250780, increasing by 1.11%. The crypto token’s market value is currently $4.71 billion.
  • Litecoin’s token price is trending at $57.90, increasing by 0.86%. The crypto token’s market value is currently $3.38 billion.
  • Tether’s token price is trending at $0.999838, decreasing by 0.13%. The crypto token’s market value is currently $2.80 billion.
  • Cardano’s token price is trending at $0.079658, decreasing by 0.09%. The crypto token’s market value is currently $2.06 billion.
  • Monero’s token price is trending at $114.90, increasing by 0.37%. The crypto token’s market value is currently $1.88 billion.
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