Market Update 10.12.18 – Nevada Public Utilities Eyeing Blockchain
Market News
Nevada Public Utilities Eyeing Blockchain
Nevada’s Public Utilities Commission, a state run agency that supervises and regulates power utility services in the state, is looking at the possibility of implementing a Blockchain based solution for its energy credit tracking system.
The Commission has been assessing whether Blockchain technology would help to track as well as certify Portfolio Energy Credits (PECs) more efficiently so that Nevada’s Renewable Portfolio Standard was met more easily. In the state of Nevada, producers of renewable energy earn PECs that are sold to utilities companies and can be used to comply with the Portfolio Standard. One PEC is the equivalent of one kilowatt-hour of electricity.
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SEC Increases Pressure on ICOs
The US Securities and Exchange Commission (SEC) has increased its pressure on Initial Coin Offerings (ICOs). This crackdown is now putting hundreds of ICOs and their related projects at risk, since they found out that the token sales that they had conducted had actually ended up violating securities laws. This has happened despite ICOs trying their utmost to comply with government regulations.
Due to the pressure being imposed by the SEC, numerous ICOs have quietly agreed to pay fines and refund investors’ money rather than trying comply with the regulations. This is because many of the projects that were subpoenaed by the SEC were not told how they could comply with the agency’s demands and had no support on how to proceed.
Read more about this here.
Coinbase Lists First ERC-20 Token
The cryptocurrency exchange Coinbase has listed its first ever ERC-20 token, called 0x (ZRX) on its platform. ERC-20 tokens are created and utilized only on the Ethereum network. ERC is the acronym for Ethereum Request for Comment and the number 20 is the request number for this type of token. ERC-20 makes the development of new crypto tokens extremely easy, which is one of the reasons why the ETH platform became so popular with ICOs in the first place.
According to the announcement by Coinbase, the crypto exchange is launching support for ZRX on its platform Coinbase Pro. However, the exchange cautioned that trading on this token would only commence once there were enough liquidity generated.
Get more details here.
Total Market Cap: Oct 12
The crypto market’s trading volume has dropped by $1.71 billion to $13.38 billion in today’s trading. The market’s cap has inched up $0.74 billion to $201.96 billion.
Bitcoin Price Analysis: Oct 12
Bitcoin’s price is $6299.59, inching up 0.29% since yesterday. The crypto’s market capitalization inched forward to $109.09 billion and volumes are $4.14 billion.
Ethereum Price Analysis: Oct 12
Ethereum’s is now $197.47, another 1.51% slip since yesterday. The value of ETH is $20.24 billion and trading volume is $1.65 billion.
State of the Top 10 Cryptocurrencies: Oct 12
While markets still have not completely stabilized since yesterday’s rout, there are some digital assets in the top ten list that are in the green today. The biggest gainers today have been Ripple, whose price is up 4.17%, Litecoin, which gained 1.26% and Stellar, which is up 0.67%.
- Bitcoin has a price of $6275.74, gaining 0.29%. Its token is now worth $109.09 billion.
- Ethereum has a price of $197.47%, falling 1.51%. Its token is now worth $20.24 billion.
- Ripple has a price of $0.427666, gaining 4.17%. Its token is now worth $17.10 billion.
- Bitcoin Cash has a price of $447.03, falling 0.79%. Its token is now worth $7.77 billion.
- EOS has a price of $5.20, falling 2.45%. Its token is now worth $4.71 billion.
- Stellar has a price of $0.216215, gaining 0.67%. Its token is now worth $4.08 billion.
- Litecoin has a price of $52.67, gaining 1.26%. Its token is now worth $3.09 billion.
- Tether has a price of $0.991948, falling 0.34%. Its token is now worth $2.68 billion.
- Cardano has a price of $0.074048, falling 1.50%. Its token is now worth $1.91 billion.
- Monero has a price of $102.93, falling 0.64%. Its token is now worth $1.69 billion.