Market Update 10.17.18 – Civil Issues Refunds After $8 Million Token Disaster
Market News
Civil Issues Refunds After $8 Million Token Disaster
Civil, which is startup based in New York that aims to put journalism on a blockchain, has revealed its plans to issue refunds to users who were involved in its token sale. It appears that the firm reportedly failed to reach a pre-set minimal requirement.
Matthew Iles, who is the CEO of Civil, wrote in a blog post that the startup closed the sales process of its proprietary CVL tokens on October 15. The only catch, however, is that it did not reach the goal of collecting at least $8 million. Having received a $5 million funding from the Ethereum startup Consensys last year, the company started the token sales on September 18 in hopes of raising an amount of somewhere between $8 million to $24 million by October 15. Its primary is to introduce a blockchain journalism platform.
Read the full report here.
Coinbase Now Lets Investors To Buy, Sell ZRX
Just almost a week following the addition of support for the 0x Protocol token (ZRX) on its professional investor platform, crypto exchange Coinbase has just confirmed its decision to enable full trading for all retail investors. The exchange made the announced on its official site, suggesting that all Android and iOS app users would be able to trade, buy, sell or store ZRX.
The news cames after the firm initially announced that its Coinbase Pro would support the token on October 11. ZRX is basically the first ERC-20 token to be listed by the exchange. At the time, the company said it would list the token on retail platforms at a later date. It is worth noting, however, that not all Coinbase customers will be given access to the token immediately. According to the blog post, it “will not initially be available for residents of the United Kingdom or the state of New York.”
Read the full report here.
Bitfinex Makes Unexpected Banking Business Move
Bitfinex, which is a cryptocurrency trading platform, has announced its decision to shift its banking business to the Hong Kong-based Bank of Communications. The narrative came from a source that is reportedly familiar with the subject, suggesting that the firm appears to be banking with the Bank of Communications through the private account “Prosperity Revenue Merchandising Limited.”
Bank of Communications, a company partly owned by HSBC, has been utilizing U.S.-based Citibank as the intermediary bank for U.S. dollar wire transfers to Bitfinex. Apparently, it seems HSBC was unaware of the process, which basically serves as a means for providing services for Bitfinex. Upon known, it subsequently closed the previous account.
Read the full report here.
Total Market Cap: October 17
The volume of trade in the crypto market reached $11.86 billion. Meanwhile, the market’s capitalization sat at $212.32 billion.
Bitcoin Price Analysis: October 17
In the past 24 hours, Bitcoin fell 0.70% to trade at $6,584.51. The leading cryptocurrency’s trade volume trickled to $4.04 billion, while its market slid to $114.09 billion.
Ethereum Price Analysis: October 17
Ethereum’s price fell 0.02% to trade at $210.27. As for the altcoin’s trading volume, it reached $1.45 billion; whereas its market capitalization hit $21.59 billion.
State of the Top 10 Cryptocurrencies: October 17
In the past 24 hours, most prices were down. Meanwhile, Monero dethroned TRON at the 10th spot.
- Bitcoin’s market price fell 0.75% to $6,584.51, and its value in the market is $114.09 billion.
- Ethereum’s market price fell 0.02% to $210.27, and its value in the market is $21.59 billion.
- XRP’s market price jumped 3.16% to $0.472119, and its value in the market is $18.88 billion.
- Bitcoin Cash’s market price fell 1.81% to $455.56, and its value in the market is $7.93 billion.
- EOS’ market price fell 0.59% to $5.45, and its value in the market is $4.93 billion.
- Stellar’s market price jumped 3.39% to $0.232734 and its value in the market is $4.4 billion.
- Litecoin’s market price fell 2.26% to $53.89, and its value in the market is $3.17 billion.
- Tether market price fell 0.06% to $0.975339, and its value in the market is $2.2 billion.
- Cardano market price jumped 1.02% to $0.076223, and its value in the market is $1.98 billion.
- Monero dethroned TRON at the 10th spot, but its market price fell 1.07% to $106.41, and its value in the market is $1.76 billion.