Market Update 3.17.18 – Multiple SEC Investigations into ICOs
Market News
Multiple SEC Investigations into ICOs
A Securities and Exchange Commission (SEC) official confirmed that there were investigations being carried out into multiple Initial Coin Offering projects.
The Co-Director of SEC’s Enforcement Division, Stephanie Avakian said in a statement to Bloomberg BNA that the regulatory agency was conducting dozens of investigations related to cryptocurrency and ICO projects. The statement was made at the week’s Investor Association conference which was held in Washington, D.C. this Wednesday.
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Plattsburgh, NY Bans Crypto Mining
The Plattsburgh, NY city council unanimously voted to ban cryptocurrency mining from their town for the next 18 months. However, this embargo applies only to new Bitcoin mining operations and not already existing ones.
Mayor Colin Read tabled this idea to the city council in January after residents started complaining of inflated electricity bills. The city council will use the 18 months of the mining ban to figure out how to resolve the problem of keeping residents’ electricity bills down while also allowing for the growth of industry.
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AirAsia May Launch ICO
AirAsia, South Asia’s low cost carrier, may be launching an Initial Coin Offering (ICO) to remove costs from its business model, according to a news report by TechCrunch on Friday.
The Chief Executive Officer of AirAsia, Tony Fernandez spoke with TechCrunch at the Money 20/20 Asia conference. He confirmed to the online news site that the company was looking at creating a payment platform to join its “BIG Loyalty” reward program with tokens for an ICO. He said BIG Points could easily be converted into tokens and transferred to a blockchain.
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Total Market Cap: Mar 17
The cryptocurrency market continues to struggle with low trading volume. In the last 24 hours, the market’s volume has gone down even more to $11.75 billion. However, the cryptocurrency market’s value has gone up a little to $329.25 billion.
Bitcoin Price Analysis: Mar 17
Bitcoin seems to be inching along, gaining a tiny bit of momentum in the last 24 hours. The most valuable cryptocurrency in the world went up by a Bitcoinregained a little momentum today, gaining a tiny 0.86% to trade at$8,279.48.The cryptocurrency’s volume in trading continued to decline, dropping even further to $4.82 billion. However, the value of the digital currency went up to $140.12 billion.
Ethereum Price Analysis: Mar 17
Ethereumhas followed in Bitcoin’s footsteps, taking tiny steps upwards. The number one altcoin has a price of $602.54 right now, which is a tiny 0.36% in last one day. Ethereumhas a trade volume of$1.31 billion and its market capis $59.19 billion.
State of the Top 10 Cryptocurrencies: Mar 17
Here is the performance of the top ten cryptocurrencies in the world, showing current price, percentage increase/decrease in price and the cryptos’ current market cap in order of rank.
- Bitcoinis now trading at a price of $8,279.48, increasing0.86%. The currency’s value is$140.12 billion.
- Ethereumis now trading at a price of$602.35, increasing0.36%.The currency’s value is$59.19billion.
- Rippleis now trading flat at a price of$0.68.The currency’s value is$26.71billion.
- Bitcoin Cashis now trading at a price of$1,019.14, jumping by11.67%.The currency’s value is$17.34billion.
- Litecoinis now trading at a price of$162.02, increasing1.30%.The currency’s value is$9.01billion.
- Cardano is now trading at a price of$0.174357, slipping2.28%. The currency’s value is $4.52 billion.
- NEOis now trading at a price of$68.74, increasing3.05%.The currency’s value is$4.46billion.
- Stellaris now trading at a price of$0.229109, slipping1.07%. The currency’s value is$4.23billion.
- EOS is now trading at a price of$5.06, increasing1.40%. The currency’s value is $3.71 billion.
- Monero is back in the top 10andis now trading at a price of$213.20, increasing3.89%. The currency’s value is $3.38 billion.