Market Update 5.17.18 – SEC Launches Fake ICO to Educate
Market News
SEC Launches Fake ICO to Educate
The Securities and Exchange Commission’s (SEC’s) Office of Investor Education and Advocacy has launched a fake ICO website to increase awareness about what a typical ICO scam could look like. This effort also is hoping to help with cryptocurrency investor education.
The fake ICO website is called HoweyCoins.com, and is a classic example of what a fraudulent Initial Coin Offering website would contain – including the “too good to be true” investment opportunity. The site includes examples of what a fake White Paper would look like, the types of guarantees on returns, endorsements by celebrities as well as countdown clock that urges customers that to sign up before they lose out on the deal of a lifetime.
Find out more here.
Clearmatics and Axoni Team Up
Two of the Blockchain industry’s leading startups, Clearmatics and Axoni, are teaming up to address the difficult but inescapable issue of interoperability between Blockchain networks.
At the Consensus 2018 conference that took place this week, the two companies showed how a financial derivative is issued via a smart contract triggers a payment on one blockchain network and an atomic cross-chain transfer takes place into a completely different network. This is the first time that it has been demonstrated that transactions between networks are possible.
To find out more, click here.
Polymath Acquiring Stake in Barbados Stock Exchange
The crypto-project Polymath announced that it may be acquiring the domain Token.com this week. This has been one of several announcements the ICO has made recently and is part of the project’s plan to dominate the issuance of tokenized securities in the industry.
The firm also announced that it was in the final stages of acquiring a large stake in the Barbados Stock Exchange. Additionally, Polymath also said that it was negotiating a deal with the trading system tZero.
These two partnerships Polymath believes that will then have the platform it needs to create the tokens that will actually be able to trade as well as dominate the oncoming transition from traditional equity trading to cryptocurrency trading.
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Total Market Cap: May 17
The volume of trade in the cryptocurrency market went down further to $19.65 billion, but the capitalization has gone up slightly, but stayed below the $400 billion mark, to $384.08 billion.
Bitcoin Price Analysis: May 17
BTC’s price went up slightly to trade at $8361.69, which is a gain of 1.32%. Since yesterday, trading volume for BTC is $6.25 billion, its market value is $141.89 billion.
Ethereum Price Analysis: May 17
Ethereum’s token price rose 2.75% in the last 24 hours to trade at $707.39. The trading volume is now $2.34 billion and its market value is $70.10 billion.
State of the Top 10 Cryptocurrencies: May 17
The one-day-up-one-day-down momentum continues in the cryptocurrency market, with all top ten cryptos up in terms of price as well as market cap. However, trading volume was lower than yesterday. The biggest gainers today have been EOS, which gained 7.03% and TRON, that rose by 6.93%.
- Bitcoin’s price gained slightly by 1.32% to $8361.69. Market value for the token is $141.89 billion at this time.
- Ethereum’s price gained slightly by 2.75% to $707.39. Market value for the token is $70.10 billion.
- Ripple’s price gained slightly by 1.90% to $0.698458. Market value for the token is $27.37 billion.
- Bitcoin Cash’s price gained slightly by 3.01% to $1299. Market value for the token is $22.25 billion.
- EOS’s price gained by 7.03% to $13.23. Market value for the token is $11.39 billion.
- Litecoin’s price gained slightly by 1.66% to $138.82. Market value for the token is $7.85 billion.
- Cardano’s price gained slightly by 2.45% to $0.253876. Market value for the token is $6.58 billion.
- Stellar’s price gained slightly by 0.01% to $0.334681. Market value for the token is $6.21 billion.
- IOTA’s price gained slightly by 1.58% to $1.92. Market value for the token is $5.34 billion.
- TRON’s price gained by 6.93% to $0.070392. Market value for the token is $4.62 billion.