Market Update 11.13.18 – Lawsuit against XRP Moves to Federal Court

| Publish date: 11/13/2018
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Lawsuit against XRP Moves to Federal Court

A continuing legal battle between investors of XRP and the startup Ripple is moving to the Federal Court. According to documents published by the courts on Monday, Ripple Labs and its affiliates’ lawyers have filed to move the class-action lawsuit against them to the District Court from its current location at the San Mateo Superior Court.

The class action lawsuit is a combination of prior lawsuits filed by Vladi Zakinov, Avner Greenwald and David Oconer. According to the plaintiffs, they lost out due to the fact that XRP is now considered a security.

Read the details of the story here.

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Fight for Hash Power Prior to BCH Hard Fork

The fight for hash power continues to grow more heated as the scheduled date for Bitcoin Cash’s hard fork grows closer. Currently, most of the hash power seems to be in favor of Craig Wright’s nChain group.

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According to data collated by Coin Dance, 66% to 77% of BCH miners are backing the Bitcoin Cash SV iteration, vis-à-vis the only 18% to 29% that support Bitcoin Cash ABC led by crypto evangelist Roger Ver. However, the data also shows that of the 2,246 nodes that run on the BCH network, 1,079 are controlled by Bitcoin Cash ABC, while only 166 belong to Bitcoin Cash SV nodes.

Find out more here.

American Gets $1.1 Mm Fine & 15 Months’ Jail for Crypto Fraud

American citizen Joseph Kim has been fined $1.1 million and has been given 15 months’ jail time for cryptocurrency fraud. The US Commodity Futures Trading Commission (CFTC) reported that Kim, who is from Phoenix, Arizona, had stolen Bitcoin as well as Litecoin from multiple people before he was finally caught.

The CFTC discovered that Kim had cheated his employer, a Chicago-based trading company, of about $601,000 worth of BTC as well as LTC, which he had transferred to his own accounts in 2017. He tried to lie his way out of the fraud but his lie was caught and he was fired.

Read the rest of the story here.

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Total Market Cap: Nov 13

The crypto market is currently valued at $211.46 billion, with trading volumes of $13.30 million.

Bitcoin Price Analysis: Nov 13

From yesterday, the price of Bitcoin has slipped 0.57% to trade at $6366.43. Bitcoin’s market capitalization at this point in trading is 110.60 billion with volumes of $4.47 billion.

Ethereum Price Analysis: Nov 13

Ethereum is currently trading at a price of $208.65, which is a 1.04% drop from the previous day. The altcoin’s trading volumes are $1.46 billion and its capitalization is $21.52 billion.

State of the Top 10 Cryptocurrencies: Nov 13

Today, the top ten cryptos showed a mixed bag of performances in trading so far. 2 of the cryptos – Ripple (up 2.45%) and Monero (up 0.05%) are in the green right now, and the rest are marginally down. The biggest loss has been experienced by Stellar, which is down 3.52%, followed by Ether, which is down 1.04% and Litecoin, which is down by 0.85%.

  • Bitcoin’s price is $6366.43, losing 0.57%. The value of the token is currently $110.60 billion.
  • Ethereum’s price is $208.65, losing 1.04%. The value of the token is currently $21.52 billion.
  • Ripple’s price is $0.515866, gaining 2.45%. The value of the token is currently $20.74 billion.
  • Bitcoin Cash’s price is $507.27, losing 1%. The value of the token is currently $8.85 billion.
  • Stellar’s price is $0.265763, losing 3.52%. The value of the token is currently $5.03 billion.
  • EOS’s price is $5.35, losing 0.74%. The value of the token is currently $4.84 billion.
  • Litecoin’s price is $50.50, losing 0.85%. The value of the token is currently $2.98 billion.
  • Cardano’s price is $0.075209, losing 0.40%. The value of the token is currently $1.94 billion.
  • Monero’s price is $105.72, gaining 0.05%. The value of the token is currently $1.75 billion.
  • Tether’s price is $0.986860, losing 0.69%. The value of the token is currently $1.68 billion.
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