Market Update 3.01.18 – SEC Initiates ICO and Cryptocurrency Probe

| Publish date: 03/01/2018 (Last updated: March 22, 2018 04:19 PM)
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SEC Initiates ICO and Cryptocurrency Probe

The United States Securities and Exchange Commission has launched a probe into the budding ICO and cryptocurrency industry. Anonymous sources informed the Wall Street Journal that an unknown number – maybe hundreds – of subpoenas and requests for information have been issued to ICOs and other businesses related to the cryptocurrency industry.

This increase in pressure on cryptocurrency businesses may signify that ICOs and token sales by many entities may be in violation of securities laws. To read the full story, click here.

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HSBC Close to Piloting Live Blockchain Transactions

HSBC, UK’s international banking giant, could be launching multiple pilot programs in a bid to transition to live blockchain transactions. These programs are based on proof-of-concept projects that the bank has been working on for some time now.

According to Joshua Kroeker, this launch would be the culmination of the work done in the last two years which include trials conducted using blockchain technology to replicate letters of credit. To find out more, click here.

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Porsche becomes First Auto Maker to Successfully Test Blockchain Technology in a Car

Porsche issued a press release on Feb 22 that the car maker would be the first to successfully test as well as implement blockchain technology in a car. Yesterday, Cointelegraph auf Deutsch reported the news that the company was now working with XAIN, a German start-up, to explore options on using blockchain apps in Porsche vehicles.

These options could range from controlling the locking mechanism of car doors using an app to creating improved business models via encrypted logging of data. The car maker said that blockchain technology may even be used to increasing the safety and enhancing the capabilities of autonomously driven vehicles.

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Total Market Cap: Mar 01

The cryptocurrency trading volume in the past 24 hours has been $17.44 billion. The current market value of all digital assets is $440.11 billion.

Bitcoin Price Analysis: Mar 01

When writing this analysis, Bitcoin is priced at $10,401.80, which denotes a gain of 0.53%. The cryptocurrency’s volume of trade has been $6.85 billion in the last 24 hours. Bitcoin’s market value is currently at $175.71 billion.

Ethereum Price Analysis: Mar 01

Ethereum’s price currently $857.35, which shows a drop of 2.01% in the last 24 hours. The cryptocurrency’s volume of trade has been $1.93 billion and its market value is $83.94 billion.

State of the Top 10 Cryptocurrencies: Mar 01

**The data presented here covers the last one day of trading for the top 10 cryptocurrencies.

  • Bitcoin’s price is at $10,401.80, a gain of 0.53%. BTC’s market value currently is $175.71 billion.
  • Ethereum is trading at $857.35, a loss of 2.01%. ETH’s market value currently is $83.94 billion.
  • Ripple is trading at $0.90, a loss of 5.26%. XRP’s market value currently is $35.18 billion.
  • Bitcoin Cash is trading at $1,207.85, a loss of 4.87%. BCH’s market value currently is $20.52 billion.
  • Litecoin is trading at $203.52, a loss of 7.91%. LTC’s market value currently is $11.28 billion.
  • NEO is trading at $128.65, a loss of 10.11%. NEO’s market value currently is $8.36 billion.
  • Cardano is trading at $0.3, a loss of 10.44%. ADA’s market value currently is $7.79 billion.
  • Stellar is trading at $0.323 a loss of 11.17%. XLM’s market value currently is $5.96 billion.
  • EOS is trading at $8.38, a loss of 5.31%. EOS’s market value currently is $5.86 billion.
  • IOTA is trading at $1.88, a loss of 6%. MIOTA’s market value currently is $5.22 billion.
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