Market Update 8.29.18 – Hong Kong Attracting Blockchain Professionals

| Publish date: 08/29/2018
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Hong Kong Attracting Blockchain Professionals

Hong Kong is looking at attracting Blockchain professionals to the island and has launched a special immigration policy for such workers. On Tuesday, the authorities in Hong Kong released a “talent” list which covers 11 different professions that will now be eligible for special consideration when foreigners apply for the city’s Quality Migrant Admission Scheme (QMAS).

The QMAS, which was launched in 2006, lets applicants who qualify enter and settle down in China’s special administrative region without needed to first get a job offer from local employers.

Read more about this story here.

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Lloyd’s of London Enters Crypto Insurance Markets

The centuries old insurance marketplace, Lloyd’s of London has entered the cryptocurrency insurance market with little fanfare. The firm is now providing its customers insurance against cryptocurrency theft.

Kingdom Trust, a qualified custodian of about 30 different cryptos, announced on Tuesday that it was increasing its safe-keeping services by offering insurance cover for the loss of or the theft of cryptocurrencies. The custodian said that the insurance underwriters were Lloyd’s of London.

Read the rest of the story here.

Crypto Firms Show Caused by State Securities Commissioner

The Colorado State Securities Commissioner Gerald Rome has issued a show cause to three cryptocurrency related companies for reportedly promoting unregistered ICOs (Initial Coin Offerings). A show cause order is an order from the judicial court that requires the accused to explain, justify or prove innocence in court.

This show cause notice is a part of ongoing state level investigations of a growing number of allegedly fraudulent firms that are looking for ways in which to make quick money. These investigations are being carried out by the Division of Securities, which is under the Department of Regulatory Agencies (DORA).

The three crypto firms that are under fire are Sybrelabs Ltd., Bionic Coin and Global Pay Net.

Read more here.

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Total Market Cap: August 29

Trading volumes remain stable in the cryptocurrency market at $13.37 billion. The good news is that the value of the market continues to rise for the third day in a row to $230.78 billion.

Bitcoin Price Analysis: August 29

Bitcoin’s price gained another 1.93% since yesterday to $7073.17. The valuation of BTC is now $121.96 billion and its volume of trade is $4.47 billion.

Ethereum Price Analysis: August 29

Ethereum’s price rose another 2.35% since yesterday to $292.93. ETH’s valuation is $29.73 billion and its volume of trade is $1.48 billion.

State of the Top 10 Cryptocurrencies: August 29

This week so far has been great for the cryptocurrency market with most of the top ten in the green. The exception still remains Tether, whose valuation continues to slip. Bitcoin broke through the $7k mark in the last 24 hours and is still gaining. The biggest jump was seen by EOS, whose price soared by 11.12%. The other high flier is IOTA, which shot up by another 8.82% in the last 24 hours.

  • Bitcoin went up 1.93% to trade at $7073.17. The cryptocurrency’s market capitalization is now $121.96 billion.
  • Ethereum went up 2.35% to trade at $292.93. The cryptocurrency’s market capitalization is now $29.73 billion.
  • Ripple went up 1.09% to trade at $0.346287. The cryptocurrency’s market capitalization is now $13.71 billion.
  • Bitcoin Cash went up 1.94% to trade at $556.60. The cryptocurrency’s market capitalization is now $9.63 billion.
  • EOS went up 11.12% to trade at $5.95. The cryptocurrency’s market capitalization is now $5.39 billion.
  • Stellar went up 1.37% to trade at $0.229782. The cryptocurrency’s market capitalization is now $4.31 billion.
  • Litecoin went up 3.05% to trade at $62.05. The cryptocurrency’s market capitalization is now $3.60 billion.
  • Tether fell by 0.07% to trade at $0.998136. The cryptocurrency’s market capitalization is now $2.77 billion.
  • Cardano went up 1.50% to trade at $0.102979. The cryptocurrency’s market capitalization is now $2.66 billion.

IOTA went up 8.82% to trade at $0.770837. The cryptocurrency’s market capitalization is now $2.14 billion.

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