Market Update 11.17.18 – ICO Party Officially Over

| Publish date: 11/17/2018
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ICO Party Officially Over

The US Securities and Exchange Commission (SEC) has forced two companies to register their ICO token sales (Initial Coin Offerings) as securities offerings. This is the first time that the SEC has taken such civil actions without added fraud charges.

The SEC announced that while this was the first time that it had penalized two startups with civil penalties, it had already reached settlements with both companies. As part of the settlement, the two companies, CarrierEQ Inc. (Airfox) and Paragon Coin Inc., would need to register their tokens as securities, pay $250,000 in penalties, refund their investors and submit periodic reports to the SEC for the next one year.

Read the details of the story here.

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Virginia Uses Blockchain Successfully in Mid-Term Elections

The West Virginia Secretary of State Mac Warner reported that they had successfully carried out the first instance of remote Blockchain voting during this year’s mid-term elections.

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Warner reported that 144 military personnel who were stationed in 24 different countries were able to cast their votes in the 2018 mid-term elections using a mobile, Blockchain platform called Voatz. Warner stated that this was a first-of-its-kind project that let military services personnel and citizens living overseas to cast a ballot thanks to Blockchain technology.

Read the rest of the story here.

Bitcoin Price Surge May be on Its Way

According to market experts, Bitcoin may be looking at a price surge in the short term – if past history is a guide. After the 10% plunge the cryptocurrency experienced on Wednesday, BTC dropped to an intra-day low of $5188 the next day, however, managed to close the trading day back up at $5580 – more or less unchanged from the previous day.

This price fluctuation created what is called a long-tailed doji candle on the daily trading charts. This usually implies market indecision about an asset. Because this candle appeared towards the end of the most recent market sell-off, it could mean that there is indecision mostly among the sellers and could imply bearish exhaustion.

Read more about this analysis here.

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Total Market Cap: Nov 17

The capitalization of the crypto market slipped another $1.95 billion to $182.25 billion. The trading volumes also continue to slip to $14.46 billion, losing $5.35 billion since yesterday.

Bitcoin Price Analysis: Nov 17

The price of BTC continues to drop, falling another 0.53% since yesterday to trade at $5548.30 a token. The crypto’s capitalization is now $96.43 billion and trading volumes in the digital currency are at $4.85 billion.

Ethereum Price Analysis: Nov 17

Ethereum continues to be the third most valuable cryptocurrency for the third day in a row. The token’s price is now $175.10, down 1.63% from yesterday. Its market capitalization is now $18.07 billion and trading volumes are also down to $1.88 billion.

State of the Top 10 Cryptocurrencies: Nov 17

The value of the cryptocurrency market continues to slip, and of the top ten cryptocurrencies, only Ripple (up 0.43%) and Tether (up 0.18%) are in the green. The biggest plunge has been seen in Bitcoin Cash, which is down by 6.01%. The second biggest drop has been seen in Litecoin, which is down by 2.42%, followed by Monero, which is down by 1.89%.

  • Bitcoin’s price is $5548.30, sliding 0.53%. Its market value is $96.43 billion.
  • Ripple’s price is $0.472551, rising 0.43%. Its market value is $19.03 billion.
  • Ethereum’s price is $175.10, sliding 1.63%. Its market value is $18.07 billion.
  • Bitcoin Cash’s price is $389.13, dropping 6.01%. Its market value is $6.79 billion.
  • Stellar’s price is $0.239458, sliding 1.25%. Its market value is $4.61 billion.
  • EOS’s price is $4.55, sliding 0.30%. Its market value is $4.12 billion.
  • Litecoin’s price is $42.03, sliding 2.42%. Its market value is $2.48 billion.
  • Tether’s price is $0.989166, rising 0.18%. Its market value is $1.68 billion.
  • Cardano’s price is $0.060892, sliding 1%. Its market value is $1.57 billion.
  • Monero’s price is $86.53, sliding 1.89%. Its market value is $1.57 billion.
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