Market Update 9.15.18 – Draper: Crypto Market Cap at $80 Trillion in 15 Years
Market News
Draper: Crypto Market Cap at $80 Trillion in 15 Years
According to Tim Draper, the cryptocurrency proponent and venture capital investor, the total market capitalization of the cryptocurrency market could hit $80 trillion in the next 15 years. Draper was made this prediction at the DealStreetAsia PE-VC Summit 2018 held at Singapore this week.
Draper argued that the current slide in the crypto market could be attributed to people who had still not adopted cryptos as an asset class. He said that once people were more comfortable with the new technology, adoption would increase exponentially. He also stated that once this happened, many important industries would be transformed.
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Digifinex Replacing Tether with TrueUSD
A world top-20 cryptocurrency exchange based out of Singapore, Digifinex, announced that it is replacing the stablecoin Tether (USTD) with its rival, TrueUSD (TUSD). By trading volumes in the last 24 hours, Digifinex handled volumes of $131 million, making it the 16th largest crypto exchange in the world.
The co-founder of the exchange, Kiana Shek stated that she had been looking for a way to get rid of Tether for months now. She said that she personally did not believe in the stablecoin, but had no choice but to list it. She also stated that after a lot of due diligence, research and interactions with the TrustToken team, she has come to believe that TrueUSD is a better choice as they are committed to industry-leading best practices.
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RSPP Working on Alternate Crypto Regulation Bill
A lobby group of the RSPP, the Russian Union of Industrialists and Entrepreneurs, is working on creating an alternative cryptocurrency regulation bill, which is supposed to eliminate the current contradictions in Russian state draft laws on Digital Financial Assets. This alternative bill is going to be developed by a team of high-ranking managers like Vladimir Potanin, the owner of Nornickel, the nickel and palladium mining and smelting giant, as well as Viktor Vekselberg, the head of the innovation fund Skolkovo. Both Potanin and Vekselberg are among the top ten richest businessmen in Russia.
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Total Market Cap: Sep 15
Trading volumes have slipped by $2.44 billion to $12.04 billion. The valuation of the total crypto market is $201.38 billion, rising $2.12 billion since yesterday.
Bitcoin Price Analysis: Sep 15
Bitcoin’s current price is $6514.79, up 0.29% from the same time yesterday. Bitcoin’s market valuation is $112.36 billion and the crypto’s trade volumes are currently $3.85 billion.
Ethereum Price Analysis: Sep 15
Ethereum’s trading price at this time is $213.01, going up by another 2.80% since yesterday. Ether’s market capitalization is $21.72 billion with volumes at $1.99 billion.
State of the Top 10 Cryptocurrencies: Sep 15
Since the last two days’ rally, the crypto market today is showing a mixed bag of performances, with half of the top ten gaining in price and the other half losing their price. The biggest loser today so far has been Bitcoin Cash, which has dropped by 4.42%. The biggest winner today in trading so far is Monero, which has gained 2.95%.
- Bitcoin is at $6514.79, gaining 0.29%. The virtual currency’s market cap is $110.75 billion.
- Ethereum is at $213.01%, gaining 2.80%. The virtual currency’s market cap is $21.72 billion.
- Ripple is at $0.277853, losing 2.25%. The virtual currency’s market cap is $11.01 billion.
- Bitcoin Cash is at $448.17, losing 4.42%. The virtual currency’s market cap is $7.77 billion.
- EOS is at $5.26, losing 3.20%. The virtual currency’s market cap is $4.76 billion.
- Stellar is at $0.201389, losing 3.26%. The virtual currency’s market cap is $3.78 billion.
- Litecoin is at $56.57, gaining 2.59%. The virtual currency’s market cap is $3.29 billion.
- Tether is at $1, gaining 0.21%. The virtual currency’s market cap is $2.76 billion.
- Monero is at $118.73, gaining 2.95%. The virtual currency’s market cap is $1.94 billion.
- Cardano is at $0.067928, losing 3.40%. The virtual currency’s market cap is $1.76 billion.