Blockchain Market Update – October 29, 2018

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October 29, 2018 by
Blockchain Market Update – October 29, 2018

Coinbase: Confirms the company is raising an IPO of $500M at a valuation of $7.2B to $8B. The IPO will take place in two rounds, comprising of preferred equity and common stock—Other

Taiwan: The Financial Supervisory Commission (FSC) of Taiwan is drawing up national standards for ICOs to make virtual tokens as easy to invest in as stocks and just as liquid. The draft is to be completed by June next year. —Regulation

Fidelity: President of Digital Asset Services, Tom Jessop, explained that Fidelity is not building their own crypto exchange and is more focused on providing custody services for institutions looking to become involved in cryptocurrency—Other

Ukraine: The Ministry of Economic Development and Trade of Ukraine has reportedly made its intention of legalizing the crypto industry and has planned to do this in two phases. The first one is scheduled for 2018–2019, which entails defining the status of the digital assets and to commence an intensive oversight of the industry and improve the regulatory system. The second one will be carried out in 2020–2021, and will define eligible platforms capable of providing standard crypto wallet services to its user and also develop legislation to regulate crypto assets and ICOs—Regulation

Tether: Another 100M USDT were removed from Bitfinex and placed in the Tether treasury wallet. The share of USDT in BTC trading has been sliding, going down to around 44% from peaks of nearly 60% in the past weeks. As a share of the entire crypto market, USDT still commands about 18% of all trades, down from 21% in recent days—Trading

Zcash: Looking to upgrade their network, predicted to happen before October ends. The upgrade is expected to cut down on the memory and computational power used when performing Zcash’s shielded transactions. This would enable its use on more lightweight systems and removes the need to run a full node to perform shielded transactions—Project Development

Ant Financial: Partners with Tsign in an effort to launch China’s first blockchain-based digital labor contract platform at the China Human Resource and Digital Tech Forum of 2018. The contract platform is accepted by courts and has all the qualifications required—Project Development

Beacon Chain: A representative from Sigma Prime, which is working on an Ethereum 2.0 client called Lighthouse, reveals that Beacon Chain is expected to be live by March of 2019, with the update involving Proof of Concept and Sharding. A representative from Status, which is also working on a different Ethereum 2.0 client, confirmed the timeline—Project Development

BitGo: The Wrapped Bitcoin (WBTC) initiative, led by blockchain asset security company BitGo, Kyber Network, and Republic Protocol, organizes with the aim to bring Bitcoin and Ethereum together. The WBTC will launch as a fully backed Bitcoin ERC20 token on Ethereum in January 2019. The initiative aims to bridge Bitcoin liquidity and the decentralized ecosystem on Ethereum—Project Development

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

Name Price
Bitcoin (BTC)
$10,587.31
Ethereum (ETH)
$223.83
Bitcoin Cash (BCH)
$311.93
XRP (XRP)
$0.323256
Litecoin (LTC)
$99.78
Cardano (ADA)
$0.058711
IOTA (MIOTA)
$0.307481
Dash (DASH)
$111.61
NEM (XEM)
$0.068276
Monero (XMR)
$84.22
Stellar (XLM)
$0.088108
EOS (EOS)
$4.11
TRON (TRX)
$0.025877
Bitcoin Gold (BTG)
$27.01
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