Ethereum is not a security, crypto world rejoices
Dancing shoes? Check. Positive vibes? Check. Grease Lightning on repeat? Check. Whether you follow the daily musings of the SEC or not this is important news. There are so many ICOs built on the Ethereum blockchain the prospect that the very backbone of so many DAPPs being considered a security had many squirming in their pants. Well the SEC kinda sort of put that to bed. ETH is not a security. Let’s get this party started.
The top 5 in terms of marketcap remains unchanged but all dropped week to week. The overall cryptocurrency market in the past week declined from $344bln to $290bln representing a 15% decrease in the past seven days.
Sharp declines evident in the graphs below would have nocoiners running for the hills. But the OGs? Nah this ain’t nothing. Did you all notice the new Ripple logo? Snazzy.
Bitcoin: BTC dropped 12% to $6707 in the past week as of this post. Still waiting for that trend reversal? Bitcoin is restesting February lows but seeming to find support. Start boiling that water, you’re eating ramen tonight.
Ethereum: Ethereum, like bitcoin, dropped double digits percentage wise 13% over the past week settling at $518 as of this post. There was a time when everyone would tell you to buy ETH at 500. That you’d likely never see it there again. Well here we are, and we’re back at $500. Seriously people, #BTFD
ICONOMI (ICN): “A different way to invest”. ICONOMI is an investment platform based on the Ethereum network that boasts a variety of different tokens with different values and functions. Its also an actual company, one of the first cryptocurrency companies to aim on offering shares to the public through tokens.
ICONOMI operates an index fund for cryptocurrencies meaning that users can invest in many coins from one point of entry, one fund. These funds are called Digital Asset Arrays and they are managed by fund managers tasked with investigating, and making you cash money.
ICN is listed on six exchanges but has found trouble maintaining it’s price. After hitting all time highs of $4.93 in June 2018, it fell dramatically to $0.71 where it stands as of this post. The main problem with the ICN token is that it currently has no utility. In other words it is not used on the ICONOMI trading platform. But that may be changing. We recently interviewed Gregor Zupanc, an ICONOMI DAA Manager, and it seems the ICONOMI team will begin to integrate the token into the platform. UTILITY!
What’s new at Crypto is Coming
A transfer of wealth unlike anything weve ever seen – The Bitcoin transfer of wealth is a much-discussed event that raises the questions of if the market will pick back up and what it would take for that to happen.
Coinbase Cryptocurrency Index Fund Now Available To Big Investors – Cryptocurrency exchange, Coinbase, has announced the launch of its cryptocurrency index fund, effective today and available to US investors.
TOP 15 Recent/Upcoming ICOs – Great infographic from @ico_analytics detailing the top 15 recent and upcoming ICOs based off ratings from ICO reviewers. Check it out!
Coinbase Is On Track To Offer ICO Trading After Broker Acquisition – Cryptocurrency exchange, Coinbase, has said that they are on track to become a licensed and regulated cryptocurrency securities exchange, which will make it easier for investors to buy into ICOs by acquiring security tokens.
A Stablecoin What are they and Can It Even Be Done? – The crypto market is full of stablecoins that aren’t very stable. What is a stablecoin and are they even possible?
POMP on Tokenized securities (Twitter thread of the day) – Token securities are gonna be a thing .and very very soon. Coinbase making a move today to strike first in the security token trading space.
The blockchain could disrupt legal institutions .heres how! – Well established systems that have been around for a while, and essentially pretty big things to be meddling with, are going to be disreupted by the blockchain. Legal institutions are not immune.
Do We Really Need Cryptocurrency? A Modern Exploration of Money – A number of leading businessmen and economists have questioned the need for cryptographic currencies over traditional fiat (paper) ones. They just don’t get Bitcoin.
Wells Fargo Bans Credit Card Crypto Purchases But Debit Cards Still OK – Wells Fargo, one of the biggest banks in the US, has announced that they are banning customers from purchasing cryptocurrency using their credit cards, but have reiterated that Wells Fargo customers can still use their debit cards on exchanges and to buy currencies like Bitcoin.
EOS block producer proposal from EosMeso – An invitation to consider a vote for eosMeso, a BP candidate from MesoAmerica, headquartered in Guatemala.
How much do Crypto Exchanges make in revenue *every single day? InfoGraphic – Talk about printing money. Forget shitcoin trading, investing in an exchange was the best move to make during this cryptocurrency craze.
50 blockchain use cases (infographic) – Great infographic from Matteo Gianpietro Zago showcasing over 50 real world blockchain use cases.
Crypto Volume down across the board (graphic) – It looks like every exchange hast lost most of its volume in the past 6 weeks. Post consensus hasnt been as kind to the alt markets as most of us expected it to be.
Interview: Gregor Zupanc DAA Fund Manager at ICONOMI – In this interview, we speak to Gregor Zupanc, a Digital Assets Array (DAA) manager for Solidum Prime (SOPR), whom we met at the Madrid event.
Cryptocurrency news from around the internet
Bitcoin and ether are not securities, but some initial coin offerings may be, SEC official says – The SEC’s point man on cryptocurrencies and initial coin offerings (ICOs) says that bitcoin and ether are not securities
Bitcoin tumbles as hackers hit South Korean exchange Coinrail – South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, sparking a steep fall in bitcoin amid renewed concerns about security at virtual currency exchanges as global policy makers struggled to regulate trading in the digital asset.
Crypto Giant Binance to Offer Euro Trading Pairs This Year – Binance, one of the worlds largest cryptocurrency exchanges by traded value, will soon allow customers to convert digital tokens into fiat currencies such as the euro, according to Chief Executive Officer Zhao Changpeng.
Swarm to launch new tokens representing equity in Coinbase, Robinhood, Ripple, and Didi – Swarm (www.swarm.fund), the blockchain for private equity, today announced the launch of tokens representing equity in individual tech companies, allowing Swarm investors to purchase security tokens representing fractional shares in private companies.
Heres why EOS will confiscate your tokens if you HODL for too long – Were you thinking about #HODLing EOS? Better think twice.
BitLicense Holder itBit to Be First New York Exchange to List Stellar (XLM) – Institutional cryptocurrency exchange and BitLicense charter recipient itBit has announced that it has received approval from the New York Department of Financial Services (NYDFS) to list four new cryptocurrencies: ethereum (ETH), bitcoin cash (BCH), litecoin (LTC), and stellar (XLM).
We hope you enjoyed this weeks The Raven’s Dispatch! Don’t forget to sign up for our newsletter so you can receive notifications via email that a new Dispatch was released! Also if you have any interesting news you would like to submit contact us at email@example.com
Follow us on twitter @cryptoiscomin
Like us on Facebook
Visit our crypto swag store on Teespring