Market Update 10.09.18 – Coinfloor Laying Off Employees

| Publish date: 10/09/2018
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Coinfloor Laying Off Employees

The oldest cryptocurrency exchange in the UK, Coinfloor is laying off most of its employees according to local news reports. The crypto exchange, which is London based, was founded in 2013 and has been focused on institutional as well as sophisticated investors.

The company has about 40 employees and according to people who know about the matter, most of the employees are being laid off. The Chief Executive Officer of the exchange, Obi Nwosu stated that Coinfloor has seen a huge change in trading volume across the market.

Read the details of this story here.

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Australia Testing Blockchain App for Disabled Citizens

The Australian federal science agency is partnering with one of the Big Four banks to test a new Blockchain app which is focused on making it simpler for disabled citizens to settle their insurance payments. The two organizations, the Commonwealth Scientific and Industrial Research Organization (CSIRO) and CommBank (Commonwealth Bank of Australia) released a joint statement today that they were testing a proof-of-concept that was a part of a project called Making Money Smart.

The idea is that a Blockchain token that is coded with smart contracts will be introduced to the Australian National Disability Insurance Scheme (NDIS). This will ensure that clients and the insurers can carry out insurance payments one pre-defined conditions.

Read more about this story here.

ESMA Examining ICOs to Plan Regulations

The ESMA (European Securities and Markets Authority) announced that it was examining how ICOs (Initial Coin Offerings) work so that the agency could determine how the segment could be regulated.

The ESMA, established in 2011, aims to develop a standard set of rules for the financial markets across the European Union (EU) and then subsequently supervise these markets. The agency also works in partnership other European Supervisory Authorities to regulate markets.

Now, the ESMA is evaluating ICOs to assess how well they comply with existing market regulations as well as how much they impact the fund raising segment of the market.

Read more details here.

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Total Market Cap: Oct 09

Trading volumes of the crypto market have gone up by $1.54 billion to $12.13 billion in trading today. The value of the crypto market has also gone up by $2.24 billion to $220.83 billion.

Bitcoin Price Analysis: Oct 09

Bitcoin’s price is $6639.56, going up by 0.77% since yesterday. The crypto’s market value is up to $115.02 billion and is trading in volumes of $3.84 billion.

Ethereum Price Analysis: Oct 09

Ethereum’s trading at a price of $229.67, which is a 1.97% gain over yesterday. The altcoin’s market value is $23.53 billion and its trade volume is $1.45 billion.

State of the Top 10 Cryptocurrencies: Oct 09

The cryptocurrency market is showing a general, though moderate uptrend, with most of the digital assets in the top ten list trading positively. Tether lost 0.04% in trading so far today and Ripple is trading flat since yesterday. However, the rest of the cryptos are up, with EOS gaining the most so far with a 3.10% gain. The other two cryptos that are also trading marginally better than the others are Cardano, up by 2.81%, and Litecoin, which is up by 2.59%.

  • Bitcoin is currently priced at $6636.56, gaining 0.77%. Bitcoin’s capitalization is $115.02 billion.
  • Ethereum is currently priced at $229.67%, gaining 1.97%. Ethereum’s capitalization is $23.53 billion.
  • Ripple is currently priced at $0.483898, trading flat since yesterday. Ripple’s capitalization is $19.32 billion.
  • Bitcoin Cash is currently priced at $523.43, gaining 0.90%. Bitcoin Cash’s capitalization is $9.1 billion.
  • EOS is currently priced at $5.91, gaining 3.10%. EOS’s capitalization is $5.35 billion.
  • Stellar is currently priced at $0.246869, gaining 1.34%. Stellar’s capitalization is $4.66 billion.
  • Litecoin is currently priced at $59.24, gaining 2.59%. Litecoin’s capitalization is $3.47 billion.
  • Tether is currently priced at $0.997264, losing 0.04%. Tether’s capitalization is $2.79 billion.
  • Cardano is currently priced at $0.086352, gaining 2.81%. Cardano’s capitalization is $2.23 billion.
  • Monero is currently priced at $114.03, losing 0.70%. Monero’s capitalization is $1.87 billion.
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