Market Update 9.06.18 – ETH and ADA Hit Their Lowest in a Year
Market News
ETH and ADA Hit Their Lowest in a Year
Two of the top ten cryptocurrencies by market value are now trading at their lowest levels in the last one year. Ethereum (ETH) is currently trading (at the time of writing) at $228.77, down by 19.64% in the last 24 hours. This is world’s second largest crypto’s biggest drop in one year. The last time ETH traded so low was on July 30, 2017.
The second crypto in the top ten list that dropped to its lowest in a year is Cardano (ADA). Cardano is currently trading at $0.085757, an 18.70% drop in the last 24 hours.
Read the details of the story here.
Smart Valor Approved to Operate in Financial Markets
Smart Valor, the Swiss Blockchain based startup, has won regulators’ approval to operate in local Swiss financial markets. The startup will operate under regulations laid out by local regulatory body, the Financial Services Standards Association (VQF) instead of the national regulator, the Financial Market Supervisory Authority (FINMA). FINMA did, however, check Smart Valor for AML (anti money laundering) compliance.
Thanks to regulatory approval, Smart Valor will achieve more credibility in the financial markets, as the company plans to launch its own online platform for alternate investments such as cryptocurrencies.
Read more about the story here.
Bruegel Calls for Unified Legislation on Cryptos
A report created by the Belgian think tank Bruegel will reportedly be issued to European Union ministers. This report calls for unified legislation on cryptocurrencies across the EU. It also states that more scrutiny is required on how these digital assets are distributed to investors.
The report has been released just before an informal meeting is due to take place in Austria from September 7 to September 8 this month. The meeting is being attended by the ministers of economic and financial affairs of the EU and discussions will be centered on crypto investments as well as taxation of the crypto industry.
Find out more details here.
Total Market Cap: Sep 06
Trading volumes jumped up by almost $7 billion in the last 24 hours to $20.08 billion. The value of the crypto market has nosedived by $35.1 billion to $204.12 billion.
Bitcoin Price Analysis: Sep 06
Bitcoin’s price is $6467.09, a massive 12.21% plunge in the last 24 hours. The crypto’s value has also nosedived to $111.56 billion while sell-offs have shot up trading volumes to $6.61 billion.
Ethereum Price Analysis: Sep 06
Ethereum’s price is now at $229.17, plunging 19.38% since yesterday. Ether’s market value has fallen to $23.25 billion and trading volumes have spiked to $2.72 billion.
State of the Top 10 Cryptocurrencies: Sep 06
After strong gains over the last few days, the cryptocurrency market plunged into massive losses overnight. The top ten cryptos – with the exception of stablecoin Tether – all saw massive losses. ETH and ADA both dropped to 2017’s first half prices. Bitcoin dropped by 12.21%, but the biggest losses were felt by EOS, which was the only one of the top ten to experience a more than 20% drop in its prices. EOS dropped by 21.35%, followed by ETH, which lost 19.38%, and then by BCH, which plunged by 19.06%.
- Bitcoin’s price is $6467.09, plunging 12.21%. The asset’s value is $111.56 billion.
- Ethereum’s price is $284.28%, plunging 19.38%. The asset’s value is $23.25 billion.
- Ripple’s price is $0.287689, plunging 13.19%. The asset’s value is $11.40 billion.
- Bitcoin Cash’s price is $508.56, plunging 19.06%. The asset’s value is $8.81 billion.
- EOS’s price is $5.11, plunging 21.35%. The asset’s value is $4.62 billion.
- Stellar’s price is $0.198062, plunging 13.92%. The asset’s value is $3.71 billion.
- Litecoin’s price is $56.07, plunging 17.09%. The asset’s value is $3.26 billion.
- Tether’s price is $1, inching up 0.13%. The asset’s value is $2.75 billion.
- Cardano’s price is $0.085993, plunging 18.45%. The asset’s value is $2.22 billion.
- Monero’s price is $115.09, plunging 16.37%. The asset’s value is $1.88 billion.