Market Update 4.04.19 – INATBA Launching in EU
Market News
INATBA Launching in EU
INATBA (the International Association of Trusted Blockchain Applications), a new Blockchain association focusing on the promotion of the technology’s adoption across the European Union, is launching on Wednesday. The association has been set up in the form of a global multi-stakeholder forum, which will focus on connecting users and developers of Blockchain technology across multiple sectors.
Ripple, SWIFT and IBM are among the approximately 100 firms as well as organizations that have joined this association. The association is planning to create a framework that will encourage collaboration between the public and the private sectors.
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At Least 40 Central Banks Assessing Blockchain Tech and Cryptos
According to the latest report by the World Economic Forum (WEF), at least 40 central banks across the world are currently conducting research and running pilots with Blockchain technology with the aim of addressing issues such as payments efficiency, financial inclusion as well as cyber-security.
The report cites a report that was issued in January this year by the BIS (Bank for International Settlements), and states that CBDCs (Central Bank Digital Currencies) will encourage faster as well as more cost-effective transactions. The biggest benefit of CBDC, according to the WEF, is the potential to improve KYC (Know Your Customer) and AML (Anti-Money Laundering) processes.
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US SEC Issues New Guidance for Token Issuers
After taking nearly half a year to create it, the US Securities and Exchange Commission (SEC) has finally published a new set of regulatory guidelines for token issuers. This framework focuses on tokens and details how as well as when these cryptocurrencies can be classified as securities. The document has examples of both tokens as well as networks that fall under securities laws as well as those that do not.
The Director of Corporation Finance of the SEC, William Hinman first revealed the SEC was creating such a framework in November last year. Since then, several SEC officials, including SEC Commissioner Hester Pierce and the head of the FinHub Valerie Szczepanik, have repeatedly stated that such a document was being worked on.
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Total Market Cap: Apr 04
The capitalization of the crypto market is now $174.43 billion and its trading volumes stand at $81.64 billion.
Bitcoin Price Analysis: Apr 04
Bitcoin continues to gain, up now by 1.48% to trade at $5025.95. BTC’s market cap is now $88.59 billion and it is seeing trading volumes of $21.77 billion.
Ethereum Price Analysis: Apr 04
ETH’s price has dropped by 1.69% to trade at $163.35. Its market capitalization is $17.23 billion and trading volumes are at $9.96 billion.
State of the Top 10 Cryptocurrencies: Apr 04
Bitcoin Cash is currently ruling the gains in the top ten most valuable cryptocurrencies list. The altcoin has jumped 18.32% in the last 24 hours, jumping two places and is now the 4th most valuable crypto in the world. Litecoin has also done well, with a 7.31% hike in its token’s price in the same time period.
- Bitcoin’s trading at $5025.95, up by 1.48%. The valuation in the market for the crypto is $88.59 billion.
- Ethereum’s trading at $163.35, down by 1.69%. The valuation in the market for the crypto is $17.23 billion.
- Ripple’s trading at $0.343550, down by 1.84%. The valuation in the market for the crypto is $14.34 billion.
- Bitcoin Cash’s trading at $301.93, skyrocketing 18.32%. The valuation in the market for the crypto is $5.34 billion.
- Litecoin’s trading at $86.77, up by 7.31%. The valuation in the market for the crypto is $5.30 billion.
- EOS’s trading at $5.24, up by 2.05%. The valuation in the market for the crypto is $4.74 billion.
- Binance Coin’s trading at $19.41, up by 0.02%. The valuation in the market for the crypto is $2.74 billion.
- Stellar’s trading at $0.0122666, down by 0.44%. The valuation in the market for the crypto is $2.36 billion.
- Cardano’s trading at $0.091077, up by 2.12%. The valuation in the market for the crypto is $2.36 billion.
- Tether’s trading at $1.01, down by 0.40%. The valuation in the market for the crypto is $2.08 billion.