Market Update 11.28.18 – NYSE Chair: Cryptos will Survive
Market News
NYSE Chair: Cryptos will Survive
The Chairman of the New York Stock Exchange Jeffrey Sprecher, while speaking at the Consensus Invest event, expressed his confidence that cryptocurrencies as an asset class would survive. Sprecher, who is also the Chief Executive Officer of NYSE’s mother company Intercontinental Exchange (ICE), saw headlines asking whether cryptos would survive. He said that the “unequivocal” answer to that question was “yes”.
Sprecher was joined by his wife, Kelly Loeffler, who is the Chief Executive Officer of the new cryptocurrency exchange being launched by ICE, Bakkt.
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Tether Reopening Account Verification for New Customers
The creator of the controversial stablecoin Tether (USDT), Tether Ltd. announced on Tuesday that it was reopening account verification for new customers and was also going to allow its users to redeem Tether coins for fiat currencies directly via their platform.
The company, in an official post on its website, stated that it was planning to go back to its original vision of having a wallet for creating Tether accounts, where users could also redeem their Tether tokens directly for US dollars. The white paper of the company says that each Tether is backed by dollar on a 1:1 ratio.
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Blockchain Could Add $3 Trillion in International Trade by 2030
The World Trade Organization (WTO) released a report about the effect of Blockchain technology on international trade on November 27. According to this report, the new technology’s economic value-add on a worldwide scale could be as much as $3 trillion by the year 2030.
This study analyzes Blockchain technology’s applications as well as the challenges that it must face before it can deployed in various industries and sectors. The study considered the impact of Blockchain on industries such as Finance, Logistics, Transportation and customs clearance.
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Total Market Cap: Nov 28
Volatility in the cryptocurrency market continues with most cryptos recovering from yesterday’s drops. Currently, market capitalization is up to $131.05 billion and trading volumes are at $18.19 billion.
Bitcoin Price Analysis: Nov 28
Bitcoin has finally climbed up above the $4000 mark and is trading at $4020.32, a 6.43% increase since yesterday. Capitalization of the digital asset is $69.94 billion and trading volumes are currently $6.46 billion.
Ethereum Price Analysis: Nov 28
Ether is up by 7.48% and is currently trading at a price of $115.02. The crypto’s market capitalization is $11.90 billion and trading volumes for this token are at $2.55 billion.
State of the Top 10 Cryptocurrencies: Nov 27
Bitcoin SV seems to have made a spectacular entrance into the top ten crypto list and is set to make as spectacular an exit – all in the last 24 hours. The new altcoin has dropped by 21.64% since yesterday. Monero ousted Cardano from the top ten list to take 10th position. With the exception of Bitcoin SV, Bitcoin Cash (down 0.62%) and EOS (down 0.29%), all other cryptocurrencies have seen gains in today’s trading.
- Bitcoin’s trading at $4020.32, rising by 6.43%. The digital currency is now worth $69.94 billion.
- Ripple’s trading at $0.373245, rising by 5.36%. The digital currency is now worth $15.05 billion.
- Ethereum’s trading at $115.02, rising by 7.48%. The digital currency is now worth $11.90 billion.
- Bitcoin Cash’s trading at $182.74, dropping by 0.62%. The digital currency is now worth $3.19 billion.
- Stellar’s trading at $0.152695, rising by 6.91%. The digital currency is now worth $2.92 billion.
- EOS’s trading at $3.13, dropping by 0.29%. The digital currency is now worth $2.83 billion.
- Litecoin’s trading at $32.08, rising by 7.39%. The digital currency is now worth $1.90 billion.
- Tether’s trading at $0.987039, rising by 0.59%. The digital currency is now worth $1.83 billion.
- Bitcoin SV’s trading at $86.60, nosediving by 21.64%. The digital currency is now worth $1.51 billion.
- Monero’s trading at $60.29, rising by 11.80%. The digital currency is now worth $1 billion.