Market Update 12.17.18 – Federal Authorities Still Struggle with Crypto Regulations

| Publish date: 12/17/2018
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Federal Authorities Still Struggle with Crypto Regulations

While individual states in America are vying for the position of being the most crypto-friendly state, the US Federal government is still struggling over how to define and regulate cryptos.

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According to this news report, it is not just stakeholders that are concerned about the state of affairs in relation to federal policies about cryptocurrencies. Academicians have also voiced their concern about this issue. University of Arkansas Law School’s Professor Carol Goforth has outlined facts in an article in the forthcoming Journal of Financial Transformation, which summarize what experts in the industry have been raising concerns about all this time.

Read more about this article here.

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Omniex CEO: Intrinsic Value of Crypto Has Not Changed

According to the co-founder and Chief Executive Officer of Omniex, Hu Liang, the intrinsic value of cryptocurrencies has not changed, despite the “bubble” bursting. Omniex is the first crypto-asset platform designed for institutional investors.

According to the CEO of Omniex, the intrinsic value of the cryptocurrency is its ability to build decentralized networks that lead to the creation of new types of businesses. He stated that cryptocurrencies should be viewed as a stand-alone class of assets within a multi-asset portfolio.

Read more about his analysis here.

Tim May Passes Away of Natural Causes

Tim May, the co-founder of Cyptopunks, has reportedly died of natural causes at his home in Corralitos in California. May is also the author of the book The Crypto Anarchist Manifesto, which was published in 1992. In this book he had foretold some of the elements of cryptocurrencies. In his book, May has predicted that the government would try to halt or slow down this technology, using national security, drug dealers and tax evaders using cryptos for criminal purposes and the disintegration of society as a reason for doing so.

May also stated in his Manifesto that a lot of these concerns would be valid.

Find out more about this story here.

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Total Market Cap: Dec 17

The capitalization of the cryptocurrency market is now at $104.37 billion and trade volumes are $10.33 billion.

Bitcoin Price Analysis: Dec 17

Bitcoin has started the week by going up 0.36% in the last 24 hours to trade at $3284.95 per token. The capitalization of cryptocurrency is now $57.24 billion and trading volumes are currently at $3.71 billion.

Ethereum Price Analysis: Dec 17

Ether’s price is $86.93 per token, which is a 0.38% increase in the last 24 hours. The crypto’s market cap is $9.02 billion and volume of trade is now $1.49 billion.

State of the Top 10 Cryptocurrencies: Dec 17

XRP is the only cryptocurrency in the top ten list that is down, but the altcoin has lost only 0.10% of its price in the last 24 hours. The other top cryptos are up, however, most of them are also just marginally in the green. The outliers are Litecoin, which is up by 5.79%, Bitcoin SV, which is up 2.47% and Bitcoin Cash, which is up by 2.15%.

  • Bitcoin’s price is $3284.95, inching up 0.36%. The digital asset’s capitalization is $57.24 billion.
  • Ripple’s price is $0.289628, slipping by 0.10%. The digital asset’s capitalization is $11.85 billion.
  • Ethereum’s price is $86.93, inching up 0.38%. The digital asset’s capitalization is $9.02 billion.
  • Stellar’s price is $0.097859, inching up 0.32%. The digital asset’s capitalization is $1.87 billion.
  • Tether’s price is $1.01, inching up 0.03%. The digital asset’s capitalization is $1.86 billion.
  • EOS’s price is $1.97, going up by 2.23%. The digital asset’s capitalization is $1.78 billion.
  • Litecoin’s price is $27.40, going up by 5.79%. The digital asset’s capitalization is $1.63 billion.
  • Bitcoin Cash’s price is $83.34, going up by 2.15%. The digital asset’s capitalization is $1.45 billion.
  • Bitcoin SV’s price is $76.48, going up by 2.47%. The digital asset’s capitalization is $1.33 billion.
  • TRON’s price is $0.013139, inching up 0.38%. The digital asset’s capitalization is $873.23 million.
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