Market Update 7.16.18 – US Ranked Most Favorable Country for ICOs
Market News
US Ranked Most Favorable Country for ICOs
A report was created by analysts who are associated with the Crypto Finance Conference states that the US has been ranked as the most favorable country for ICOs (Initial Coin Offerings). The number two and three spots were taken by Switzerland and Singapore.
The report was compiled using publically available data about the top 100 ICOs segregated by country in terms of amount of funds raised, and then ranked by number of projects launched. The US has launched 30 projects using ICOs, Switzerland has 15 and Singapore 11.
Read on here.
Banco Estado Ordered to Resume Business with Orionx
The government owned bank, Banco Estado was ordered by the Court of Appeals in Chile to reopen cryptocurrency exchange Orionx’s bank deposit account. Banco Estado had closed the crypto exchange’s account in late March this year, citing the lack of regulatory recognition of crypto trading as the reason for doing so. Orionx took the bank to court.
The Fourth Chamber of the Court of Appeals of Santiago agreed with the appeal filed by Orionx, calling the closure of its account by the bank an arbitrary as well as illegal action that constituted the deprivation of the right to equality before the law (according to the Political Constitution of the Republic of Chile).
Read the rest of the story here.
Thailand Planning “Bond” Coin
The Thailand Bond Market Association (TBMA), a self-regulatory body in Thailand, is planning to create a custom cryptocurrency token designed to speed up corporate bond settlements in the country. The Association announced that it got the Thailand Securities and Exchange Commission’s approval to develop the private blockchain that would be specifically for players in the bond market, such as registered users, depository organizations and investors.
According to the local news, the TBMA announced that the project would be divided into three different stages, and would commence next month. According to TBMA’s executive vice president, Chaitat Prachuabdee, this new infrastructure is expected to improve transparency in corporate bond information as well as reduce transactions times significantly.
Find out more about the story here.
Total Market Cap: July 16
The cryptocurrency market’s trading volume is currently at $12.11 billion and its capitalization is now $256.61 billion.
Bitcoin Price Analysis: July 16
Bitcoin inched up to a price of $6381.82, a 1.08% increase since yesterday. Trading volume is $4.03 billion and Bitcoin’s market value is $109.56 billion.
Ethereum Price Analysis: July 16
Ethereum’s price went up by 3.19% to $453.87 per token. Ethereum’s current trading volume is $1.90 billion and its value is $45.77 billion.
State of the Top 10 Cryptocurrencies: July 16
The cryptocurrency market continues to gain as it did over the weekend. The top ten cryptos in the world by capitalization all have showed gains in trading today so far. The highest gains have been by Stellar, which went up by 4.97%, EOS, which gained 4.25% and Cardano, which also climbed by 3.49%. IOTA took back its number nine spot from Tether over the weekend.
- Bitcoin gained by 1.08% to a price of $6381.82. The cryptocurrency’s market cap is now $109.56 billion.
- Ethereum gained by 3.19% to a price of $453.87. The cryptocurrency’s market cap is now $45.77 billion.
- Ripple gained by 1.15% to a price of $0.445267. The cryptocurrency’s market cap is now $17.50 billion.
- Bitcoin Cash gained by 2.93% to a price of $727.14. The cryptocurrency’s market cap is now $12.56 billion.
- EOS gained by 4.25% to a price of $7.35. The cryptocurrency’s market cap is now $6.62 billion.
- Litecoin gained by 1.79% to a price of $78.81. The cryptocurrency’s market cap is now $4.53 billion.
- Stellar gained by 4.97% to a price of $0.221096. The cryptocurrency’s market cap is now $4.18 billion.
- Cardano gained by 3.49% to a price of $0.143411. The cryptocurrency’s market cap is now $3.72 billion.
- IOTA gained by 2.33% to a price of $1. The cryptocurrency’s market cap is now $2.79 billion.
- Tether continues to trade flat at $1. The cryptocurrency’s market cap is now $2.70 billion.