Market Update 8.24.18 – SEC Reviewing 9 ETF Applications

| Publish date: 08/24/2018
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SEC Reviewing 9 ETF Applications

The US Securities and Exchange Commission (SEC) is reportedly going to review its decision of rejecting 9 Bitcoin based Exchange Traded Fund (ETF) application. The SEC had rejected the applications on Wednesday this week, a total of 9 applications for BTC ETFs that had been filed by 3 separate companies. The SEC said that none of these applications complied with the Exchange Act’s section 6(b)(5).

However, shortly after the rejections went public, the SEC sent out letters, stating their intention to review these 9 cases another time. However, none of these letters have given a deadline by which the new decision will be announced.

Find out the details of this story here.

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Indiegogo Promoting New Real-Estate-Backed Token

The international crowdfunding company Indiegogo announced through an official post on its website that it was going to promote a new real-estate-backed cryptocurrency token. This will enable investors to own shares in St. Regis Aspen hotel in the form of cryptocurrency.

According to media reports, this new crypto token is already registered with the US Securities and Exchange Commission and will be available for purchase in US dollars as well as Bitcoin and Ether. This crowdfunding project is expected to be launched today, August 24.

Read the rest of the story here.

Infighting Could Split BCH Code

According to media reports, the infighting between Bitcoin Cash developers could lead to a split in the project’s code. While the community seemed united in its stand against the scaling debate with its parent network Bitcoin, the constant disagreements with regard to technicalities within the network has taken a toll on the community and a split seems imminent.

And now, Bitcoin ABC, one of the leading BCH implementations, has released a new software, which is being perceived by others in the community as a declaration of war. This new software includes a series of upgrades, some which are not sitting well with other majors in the Bitcoin Cash community.

Find out the details here.

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Total Market Cap: August 24

Trading volume continues to slide, with a current status of $10.48 billion. The market value of all cryptocurrencies also continues to stay low at $211.56 billion.

Bitcoin Price Analysis: August 24

Bitcoin’s price is now $6540.33, a jump of 1.25% in the last 24 hours. The market value of BTC is now $112.79 and its trading volume is $3.53 billion.

Ethereum Price Analysis: August 24

Ethereum’s price rose by 0.48% to its current price of $275.89. The trading volume in the digital asset is currently $1.27 billion and its market value has gone up to $28.04 billion.

State of the Top 10 Cryptocurrencies: August 24

90% of the top ten cryptocurrencies have been in the green in trading so far today. The only exception is Tether, which dropped by 0.08%. Of the others that have shown gains, the biggest have been seen by EOS, which is up by 3.08%, Cardano, which gained 2.65% and Stellar, which has risen by 2.31% in today’s trading so far.

  • Bitcoin rose 1.25% to trade at $6540.33. The asset’s capitalization is currently $112.79 billion.
  • Ethereum rose 0.48% to trade at $275.89. The asset’s capitalization is currently $28.04 billion.
  • Ripple rose 0.5% to trade at $0.325403. The asset’s capitalization is currently $12.86 billion.
  • Bitcoin Cash rose 1.69% to trade at $529.50. The asset’s capitalization is currently $9.16 billion.
  • EOS rose 3.08% to trade at $4.92. The asset’s capitalization is currently $4.45 billion.
  • Stellar rose 2.31% to trade at $0.214688. The asset’s capitalization is currently $4.03 billion.
  • Litecoin rose 1.48% to trade at $56.67. The asset’s capitalization is currently $3.28 billion.
  • Tether dropped 0.08% to trade at $1. The asset’s capitalization is currently $2.79 billion.
  • Cardano rose 2.65% to trade at $0.092543. The asset’s capitalization is currently $2.39 billion.
  • Monero rose 0.37% to trade at $89.57. The asset’s capitalization is currently $1.46 billion.
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