Market Update 11.22.18 – Kerner Compares Crypto Slump to Dot Com Crash

| Publish date: 11/22/2018

Market News

Kerner Compares Crypto Slump to Dot Com Crash

Venture capital firm CryptoOracle partner Lou Kerner, in an interview with CNBC stated that the current cryptocurrency market slump could be compared to the Dot Com crash that took place in the early 2000s. On the Worldwide Exchange show, Kerner said that the stronger coins should be viewed like the technology companies that survived the Dot Com crash.

Changelly - Exchange cryptocurrency at the best rate

Kerner gave the example of, saying that the online retail giant, which today is one of the greatest companies ever created, lost 95% of its market value for over 2 years before it began the process of recovery. Today, is only the second American company to reach a market valuation of $1 trillion.

Find out more about this story here.

Embed from Getty Images

Silvergate Bank Almost 500 Crypto Clients

As a part of its IPO (Initial Public Offering) filing with the US SEC (Securities and Exchange Commission), the parent company of Silvergate Bank, Silvergate Capital revealed its relationships with the crypto industry. According to that filing, the bank now is serving 483 cryptocurrency related startups as part of its client base. As of quarter 3 of 2018, these crypto clients have a total of $1.7 billion invested in non-interest-bearing deposits.

In September of 2017, the bank had only 114 crypto clients. This means that there has been a 323% increase in the number of crypto related companies banking with Silvergate Bank.

Read more here.

Santandar and BBVA Join IATBA

The two Spanish banking groups, Banco Santandar and BBVA have joined the European Union’s IATBA (International Association for Trusted Blockchain Applications). Representatives from the two banking groups were invited to attend the EU Blockchain roundtable in Brussels. They are among the first 5 banks to have been invited to join the IATBA.

The IATBA is an initiative that is being promoted by the European Blockchain Partnership in an effort to create a Blockchain services infrastructure in Europe which will support cross-border digital public services. However, the main aim of the organization will be to create EU regulations for the nascent industry and also prepare for the launch of region-wide Blockchain based applications.

Find out more about the story here.

Embed from Getty Images

Total Market Cap: Nov 22

The cryptocurrency market’s valuation has risen slightly since yesterday to $149.48 billion and its trading volumes have dropped to $16.35 billion.

Bitcoin Price Analysis: Nov 22

Bitcoin’s price is inching up once again, and is currently trading at $4572.87. Its market value has also gone up to $79.51 billion and trading volumes are at $5.65 billion.

Ethereum Price Analysis: Nov 22

The price of Ethereum has recovered slightly to trade at $135.36, a 1.60% increase, and its market value has also increased to $13.98 billion. The cryptocurrency is currently experiencing trading volumes of $2.44 billion.

State of the Top 10 Cryptocurrencies: Nov 22

Yesterday, BCH was the only crypto up in the top ten list. And today, BCH is the only crypto down in the top ten list. All the other top cryptos are in the green. The biggest gainers are LTC, which went up by 3.61%, ADA, which gained 2.88% and XMR, which has risen by 2.37%.

  • Bitcoin’s price is $4572.87, gaining 0.86%. The valuation of the cryptocurrency is$79.51 billion.
  • Ripple’s price is $0.443819, gaining 0.54%. The valuation of the cryptocurrency is$17.89 billion.
  • Ethereum’s price is $135.36, gaining 1.60%. The valuation of the cryptocurrency is$13.98 billion.
  • Bitcoin Cash’s price is $231.89, losing 1.32%. The valuation of the cryptocurrency is$4.05 billion.
  • Stellar’s price is $0.200359, gaining 0.45%. The valuation of the cryptocurrency is$3.83 billion.
  • EOS’s price is $3.80, gaining 1.44%. The valuation of the cryptocurrency is$3.44 billion.
  • Litecoin’s price is $34.53, gaining 3.61%. The valuation of the cryptocurrency is$2.04 billion.
  • Tether’s price is $0.986788, gaining 0.83%. The valuation of the cryptocurrency is$1.78 billion.
  • Cardano’s price is $0.047260, gaining 2.88%. The valuation of the cryptocurrency is$1.22 billion.
  • Monero’s price is $69.51, gaining 2.37%. The valuation of the cryptocurrency is$1.15 billion.

Related Posts

Market Update 10.21.18 – North Korea Hack...
Market News North Korea Hack Responsible for 65% Crypto…
Market Update 9.09.18 – Energy Giant Engie...
Market News Energy Giant Engie Partners With Maltem For…
Market Update 5.26.18 – BitGo Building Asset...
Market News BitGo Building Asset Custodian Four months ago,…