Blockchain Market Update – September 24, 2018

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September 24, 2018 by
Blockchain Market Update – September 24, 2018

U.S. Congressman: Tom Emmer announced he will introduce three bills to pave the way for blockchain tech and establish a framework for it. The three bills cover the stance of the local government towards emerging technologies and a provision for blockchain entities as well as for individual taxpayers—Regulation

Argentina Central Bank: Exploring possibility of diversifying currency reserves into BTC because of BTCs stability compared to Argentinian Pesos. This follows their easing of regulations that allowed for 12 BTC ATMs to be installed in Buenos Aires—Regulation

Grupo XP: The largest independent brokerage in Brazil plans to launch a BTC and ETH trading platform by year’s end. While the CEO is not a fan of cryptos as a store of value, he feels obligated to advance in the market because investment firms are required to meet the demands and needs of their clients. Their move is supported by the gov’t, with the gov’t taking steps to legitimize the market with stable financial services and banking partners—Project Development

USDT: Study shows no correlation between Tether issuance and BTC price movement. The study was undertaken by Wang Chun Wei and published by University of Queensland. The study noted that there is a positive relationship between USDT issuance and increased crypto-trading the following day—Other

Reserve Bank of India: Argues that Supreme Court should not interfere with its decision. This is in response to one of the petitions  against RBI’s crypto banking ban. RBI notes that it has acted within its power and none of the petitioners have shown reasonable grounds for the Supreme Court to intervene—Regulation

IcelandTheir crypto industry to shift from crypto mining to actual blockchain businesses, according to local industry insiders—Other

Satis: Global Trading Volume expected to overtake the U.S. Corporate Debt market this 2018. Based on historical trading data, Satis estimates 2018 trading volume for crypto will be at $7,300B ($7.3T), $243B more than US corporate debt’s $7,056B ($7.05T)—Trading

Dodgers: The first ever baseball tokenized cards by a major sports team are already finding their way onto eBay where they’re going for around $25 or 0.1 ETH at current prices. There’s a number of listings, each attracting around 10 bids, with none yet finalized, so it remains to be seen at what price they will actually be sold—Other

Ikigai: A former Point72 Manager left billionaire Steven Cohen’s fund to start his own fund that focuses on digital assets. Travis Kling expects to launch Ikigai on Oct. 1, with plans to add another $15M of outside capital on Nov. 1. Kling plans to increase Ikigai’s tokens portfolio to $100M and its venture fund to $33M by mid-2019—Financial Institution

Dubai: The Department of Finance partnered with Smart Dubai Office to launch blockchain-powered payment system, as reported by a local news site. The platform, called ‘Payment and Reconciliation Settlement’ was launched on Sept. 23. It is geared for gov’t entities, such as the Police, Roads and Transport Authority, Dubai Health Authority, and others—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)
Ethereum (ETH)
Bitcoin Cash (BCH)
Litecoin (LTC)
Cardano (ADA)
Dash (DASH)
Monero (XMR)
Stellar (XLM)
Bitcoin Gold (BTG)
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