Market Update 9.17.18 – Gemini Custodian Can Change Gemini Dollar Transactions

| Publish date: 09/17/2018
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Gemini Custodian Can Change Gemini Dollar Transactions

According to a study published on Medium, a Gemini Custodian can completely change transactions of the brand new stablecoin Gemini Dollar (GUSD). The study was conducted by Blockchain researcher Alex Lebed in partnership with cryptocurrency consultancy Alexey Akhunov.

In this study, the authors reviewed the code used in the Gemini Dollar smart contract to show that the transactions related to the GUSD can be frozen or can even become non-transferrable at any time, as described in the stablecoin’s white paper.

Read the rest of the story here.

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Ether’s Price Could Drop Even if Ethereum Succeeds

According to the author of this analysis, the movements in Ether’s price have revealed the token’s connection to the ICO’s success or failure. Further research into how cryptocurrencies work show that the correlation between a token such as Ether’s price and its utility to its Blockchain network (Ethereum) is actually very low.

The previously held fat protocol thesis is now being debunked. The idea was first put forward by Albert Wagner, a partner at Union Square Ventures, and it stated that the rising prices of utility tokens is what allowed developers of platforms that had open access to derive value for the work that they do – even if the foundation protocol is open for all and free.

Read the rest of the report here.

LG UPlus Launches Blockchain International Payments System

According to local media, the South Korean mobile carrier LG UPlus is launching a Blockchain powered cross-carrier international payments system. LG UPlus is a subsidiary of the country’ fourth largest conglomerate, LG Corp.

Last week, on Thursday, September 13, the mobile carrier signed a Memorandum of Understanding (MoU) to develop this new service along with three global partners – Far EasTone Telecommunications from Taiwan, SoftBank from Japan and TBCASoft from the US. With this new service, users of any one of these mobile carriers will be able to make seamless transactions between all payment networks.

Read the rest of the story here.

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Total Market Cap: Sep 17

Since last week’s volumes, trading volumes today are low at $9.97 billion, but the cryptocurrency market’s capitalization is holding steady at $202.53.

Bitcoin Price Analysis: Sep 17

Bitcoin’s current token price is $6498.83, up 0.51% in the last 24 hours. Bitcoin’s market cap is $112.25 billion and its trade volumes are currently $3.21 billion.

Ethereum Price Analysis: Sep 17

Ethereum’s trading price is $219.55, going up by 2.05% since yesterday. The crypto’s market cap is now $22.30 billion with volumes of trading $1.40 billion.

State of the Top 10 Cryptocurrencies: Sep 17

While volumes of trade have been low in trading, the cryptocurrency market’s capitalization has held steady over the weekend and today. With the exception of Tether, which dropped 0.02%, however the rest of the top ten cryptocurrencies are currently in the green. The biggest gainer of the day is currently Bitcoin Cash, which is up by 3.56%.

  • Bitcoin is at a price of $6498.83, gaining 0.51%. The digital currency is now valued at $110.75 billion.
  • Ethereum is at a price of $219.55%, gaining 2.05%. The digital currency is now valued at $22.30 billion.
  • Ripple is at a price of $0.281052, gaining 1.11%. The digital currency is now valued at $11.18 billion.
  • Bitcoin Cash is at a price of $451.19, losing 3.56%. The digital currency is now valued at $7.82 billion.
  • EOS is at a price of $5.38, gaining 1.56%. The digital currency is now valued at $4.87 billion.
  • Stellar is at a price of $0.204467, gaining 1.90%. The digital currency is now valued at $3.84 billion.
  • Litecoin is at a price of $56.83, gaining 2.30%. The digital currency is now valued at $3.31 billion.
  • Tether is at a price of $1, losing 0.02%. The digital currency is now valued at $2.76 billion.
  • Monero is at a price of $118.21, gaining 2.84%. The digital currency is now valued at $1.94 billion.
  • Cardano is at a price of $0.068617, gaining 1.77%. The digital currency is now valued at $1.77 billion.
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