The crypto markets reported mixed performances today with majority of the top 20 cryptocurrencies recording moderate gains or losses in the last 24h. The total market cap remained stable and is hovering around USD 134 billion over the last 24h. The trading still continues to be robust and in a USD 29 billion range. The market breadth in top 100 was neutral with an advance to decline ratio of 44/56. In the top 100, WAX was the best performer with a +20.0% jump as it teamed up with Z1BR to give away thousands of exclusive, limited-editions skins. WAX was followed by Bitcoin Diamond (+13.6%) and PIVX (+12.2%). Bitcoin and Ether were marginally down at USD 3,908 and USD 133 respectively while XRP improved +1.0% to USD 0.3132 in the last 24h.
In a boost to blockchain adoption, the New York Times, the second-largest newspaper in the U.S. by circulation is reportedly planning to experiment with blockchain technology even as the U.S. Department of the Treasury added a Moscow-based bank, Evrofinance, to the Specially Designated Nationals list, as it was the primary international bank that helped finance disputed Venezuelan president Nicolas Maduro’s failed petro project. In regulatory development, the central bank of Mexico has published rules on crypto assets that put crypto exchanges in a catch-22 type of situation stating that they would not authorize any cryptocurrency to be offered by regulated financial companies while the Basel Committee on Banking Supervision (BCBS), a supranational banking watchdog, has warned banks stating that the growth of crypto assets pose a threat to banks and global financial stability, despite very limited direct exposures and laid down the guidelines for banks that plan to enter the cryptocurrency market recommending, as a minimum requirement, banks should improve their risk management and disclosure processes to reduce risk. The research conducted by the team at Hard Fork, has found that China has the most blockchain patents with 790 approved patetns in the world despite the fact that cryptocurrencies are banned there. United States is in the second position with 762 while Europe seems to be trailing behind in this regard as the United Kingdom is the only European nation in the top 10 with 26 patents. Separetely, a new report made by PwC’s Strategy with help from the Swiss Crypto Valley Association, affirms that there is no fundamental difference between ICOs and STOs but they are known to be more mature and regulated ways of getting funds, especially as they determine that their tokens are securities.
Have a great day!
Your Blocksmatter Team