Market Update 9.28.18 – US House Passes Bill on Crypto Task Force
Market News
US House Passes Bill on Crypto Task Force
The US House of Representatives passed a bills this week that will lead to the establishment of a crypto task force whose aim will be to combat the use of cryptocurrencies by terrorists.
The bill, House Resolution 5036, is actually an amended version of a previous bill that had been proposed by Rep. Ted Budd in January. The proposal had been tables to the Committee on Financial Services, recommending that an Independent Financial Technology Task Force be set up which would fight the illicit use of cryptocurrencies.
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Sierra Leone, UN and Kiva Partnering for Blockchain ID System
The nation of Sierra Leone is partnering with two divisions of the United Nations and the non-profit organization Kiva to launch a Blockchain powered identification system.
The United Nations Capital Development Fund (UNCDF), the United Nations Development Program (UNDP), Sierra Leone’s President Julius Maada Bio as well as the non-profit Kiva announced during the 73rd session of the United Nations General Assembly in New York that they were launching this project to modernize the credit bureau.
Read the details of this story here.
Tom Lee Makes Another Prediction
Tom Lee, the head of research for Fundstrat, made yet another prediction about the cryptocurrency market, this time about Ethereum. According to him, Ethereum is about to see a massive trend reversal and will rally so strongly that it will end up at about $1,900 a token by the end of 2019. Lee, in a note to his clients, said the current overly negative sentiment against the altcoin was going to change soon and that the crypto was going to rebound strongly in the near future.
Lee used past data to show that every time Ethereum underperformed against its peers by two standard deviations, it rebounded strongly after that. Based on this information, Lee feels that Ethereum will touch the $1,900 figure by the end of next year. This figure is still 40% higher than the altcoin’s record high of $1,349.
Find out more here.
Total Market Cap: Sep 28
The cryptocurrency market is currently experiencing trading volumes of $16.94 billion and has a market capitalization of $224 billion.
Bitcoin Price Analysis: Sep 28
Bitcoin’s currently trending at $6737.13, a 3.90% rise in token price since yesterday. Bitcoin’s market valuation in trading so far is $116.52 billion and trading volumes are $4.82 billion.
Ethereum Price Analysis: Sep 28
Ethereum’s currently at $230.65, gaining 6.66% since yesterday. The crypto’s capitalization is $23.51 billion and it is currently trading at volumes of $2.14 billion.
State of the Top 10 Cryptocurrencies: Sep 28
The top ten cryptos have been in the green in trading so far today. The biggest gainer so far are Litecoin, which went up by 9.97%, Cardano, which has risen by 9.42% and Ethereum, which is up by 6.66%.
- Bitcoin’s price is trending at $6737.13, rising 3.90%. The market value of this asset is $116.52 billion.
- Ethereum’s price is trending at $230.65%, rising 6.66%. The market value of this asset is $23.51 billion.
- Ripple’s price is trending at $0.541168, rising 3.79%. The market value of this asset is $21.57 billion.
- Bitcoin Cash’s price is trending at $558.83, rising 6.32%. The market value of this asset is $9.70 billion.
- EOS’s price is trending at $5.83, rising 4.65%. The market value of this asset is $5.28 billion.
- Stellar’s price is trending at $0.260743, rising 3.95%. The market value of this asset is $4.89 billion.
- Litecoin’s price is trending at $63.64, rising 9.97%. The market value of this asset is $3.72 billion.
- Tether’s price is trending at $1, rising 0.01%. The market value of this asset is $2.81 billion.
- Cardano’s price is trending at $0.086956, rising 9.42%. The market value of this asset is $2.25 billion.
- Monero’s price is trending at $120.51, rising 4.93%. The market value of this asset is $1.98 billion.