Market Update 3.08.18 – SEC Requires Registration
Market News
SEC Requires all Platforms Trading in Securities Must Register Exchanges
The US Securities and Exchange Commission issued a public statement yesterday, stating that all platforms that trade in digital assets that meet the description of securities have to be registered as exchanges.
This would mean that all cryptocurrency exchanges would then be subject to the same rules and regulations that govern regular exchanges. The SEC also stated that entities operating as Alternative Trading Systems (ATS) would also be expected to adhere to the same regulatory standards.
Read more here.
Searches for Cryptos on Google Decline Sharply
It seems that public interest in cryptocurrencies is on the decline. Data shows that Google searches for Bitcoin, Ether and Litecoin have dropped sharply in recent weeks.
After 2017’s crazy crypto-ride, 2018 has been very quiet, with most digital assets not doing anything spectacular. And with the lack of anything exciting happening in the crypto market, even public interest in the digital currency world has declined.
Read the full story here.
Two Crypto Exchanges in Japan Suspended
The Financial Services Agency (FSA) in Japan today issued business suspension orders to two crypto exchanges – Bit Station and FSHO. This order will be effect for one month starting immediately. The suspension was imposed due to the FSA’s findings that internal systems were lacking and anti-money laundering measures were inadequate.
Since the Coincheck heist, in which hackers did away with $500 million in cryptocurrencies, the FSA has been actively assessing crypto exchanges operating in Japan.
Find out more here.
Total Market Cap: Mar 08
The cryptocurrency market has traded with a volume of $21.85 billion since yesterday. The total cryptocurrency market capitalization in the last 24 hours has been $395.77 billion.
Bitcoin Price Analysis: Mar 08
Bitcoin has dropped even further by 7.24% to below the $10,000 market to a price of $9,876.66 in the last 24 hours. The struggling cryptocurrency’s trading volume has been at $9.11 billion in trading. The crypto’s valuation in the market is $166.98 billion.
Ethereum Price Analysis: Mar 08
Ethereum has fallen by another 5.69% to a trading price of $748.71 and has a volume of trading of $2.24 billion. The number 2 cryptocurrency has a value of $73.41 billion in the market right now.
State of the Top 10 Cryptocurrencies: Mar 08
**The information given here is the trading data for the 10 most valuable cryptocurrencies in the market for the time between March 7 and March 8:
- Bitcoin is trading at a price of $9,876.66, falling 7.24%, with a market cap of $166.98 billion.
- Ethereum is trading at a price of $748.71, falling 5.69%, with a market cap of $73.41 billion.
- Ripple is trading at a price of $0.86, falling 5.13%, with a market cap of $33.74 billion.
- Bitcoin Cash is trading at a price of $1,101.67, falling 6.81% with a market cap of $18.73 billion.
- Litecoin is trading at a price of $183.17, falling 5.12%, with a market cap of $10.17 billion.
- NEO jumped up one place and is trading at a price of $97.67, falling 9.12%, with a market cap of $6.34 billion.
- Cardano is trading at a price of $0.233709, falling 14.66%, with a market cap of $6.05 billion.
- Stellar is trading at a price of $0.3180856, falling 3.32%, with a market cap of $5.87 billion.
- Monero is trading at a price of $312.79, falling 9.67%, with a market cap of $4.94 billion.
- EOS is trading at a price of $6.45, falling 8.25%, with a market cap of $4.60 billion.