- Bitcoin Price: Does the Bounce Over $8,400 Suggest BTC Just Bottomed? ;
- SEC Reaches $24 Million Settlement With EOS Parent Firm Block.one ;
- Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week ;
- Coinbase-Led Group Aims to Help Crypto Firms Avoid Securities Violations ;
- Venezuela Considers Moving its Bitcoin and Ethereum Stash ;
- 🗞 Daily Crypto News, October, 1st 💰
- STEEM Trading Update
Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!
🗞 Bitcoin Price: Does the Bounce Over $8,400 Suggest BTC Just Bottomed?
Bitcoin (BTC) price has had a volatile start to the week. Asia kicked off the trading week with a 4% selloff that brought Bitcoin price from $8,050 to $7,700. The ball was then passed to the Europeans who started a rally which continued through to the New York trading session. By the end of the day, Bitcoin had rallied 8% from the bottom to highs of $8,325, which was near a 3.5% gain for the day.
Altcoins have also been moving higher on the same basis, with Ethereum and XRP being notable gainers of 6% and 9% respectively.
The crypto market has largely been following the risk-on price action today, with traditional markets moving higher and commodities moving lower. We will take a closer look at the key timeframes to try and examine if Bitcoin is nearing a bottom.
Weekly Bitcoin price chart
🗞 SEC Reaches $24 Million Settlement With EOS Parent Firm Block.one
The United States Securities and Exchange Commission (SEC) has reached a settlement with Block.one to pay $24 million in penalties for conducting an unregistered initial coin offering (ICO).
On Sept. 30, the SEC announced in a press release that it has settled the charges against the firm behind the EOS network and corresponding token in the form of a civil monetary penalty. Block.one settled the charges without admitting or denying the findings.
According to the press release, Block.one’s ICO of 900 million tokens “began shortly before the SEC released the DAO Report of Investigation and continued for nearly a year after the report’s publication.”
🗞 Coinbase-Led Group Aims to Help Crypto Firms Avoid Securities Violations
Crypto industry leaders are taking the initiative to help firms in the space avoid running afoul of securities rules.
In a company blog post, Coinbase announced it has co-founded the Crypto Rating Council, a member organization purposed with assisting cryptocurrency companies determine if they comply with current U.S. federal securities law.
Coinbase is joined at launch by seven other firms: Anchorage, Bittrex, Circle, DRW Cumberland, Genesis, Grayscale Investments and Kraken.
As part of the effort, the council will issue a 1–5 rating for a given cryptocurrency or token’s similarity to a security. Under the rating system, a 1 constitutes a crypto asset with few functional similarities to a security, while a 5 would be consistent with the definition of a security.
As of now, the council has rated 20 crypto assets, with the top cryptocurrency by market cap, bitcoin, rated a 1. Notably, XRP, maker (MKR) and polymath (POLY) landed scores of 4 or 4.5.
🗞 Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week
The Intercontinental Exchange’s highly anticipated bitcoin futures contract mustered just $5 million of total trading – and its daily product traded fewer than five contracts across its first week.
According to the exchange’s Bakkt division, set up last year by the Atlanta-based company as a new marketplace for digital assets, some 623 monthly bitcoin futures contracts changed hands last week. Both the monthly and daily contracts debuted on Sept. 23.
Each of Bakkt’s futures contracts represents one bitcoin, so the total trading volume works out to just over $5 million, based on the current price of $8,322.
🗞 Venezuela Considers Moving its Bitcoin and Ethereum Stash
Venezuelan president Nicolás Maduro says his country is working on an international and domestic payments system that will make use of cryptocurrencies.
The troubled Latin American state has seen trade screech to a halt as United States sanctions continue to bite. International borrowing is up, and the country is having trouble paying back its loans. But Maduro and his government remain confident that cryptocurrencies will help the country find a way out of its financial quagmire.
Per a report from Ultimas Noticias and an article published by NTN24, Maduro is planning to use cryptocurrencies to pay off debts to the country’s two biggest creditors, China and Russia.
🗞 Daily Crypto News, October, 1st💰
- Vexanium (VEX)
"By joining this free event, students can get a knowledge about blockchain technology, seminar certificate, and free snack..."
- nDEX (NDX)
QuantaEx starts Dynamic Staking Reward Program (DSR).
- Cardano (ADA)
"Smart contracts on a Proof-of-Stake Blockchain & The interopability problems" meetup in Amsterdam from 6:30 - 9:30 PM.
- StrongHands (SHND)
"STRONGHANDS 1000:1 coin swap will be on 1st of October."
- TRON (TRX)
"Great news! Korbit Official will list $TRX / $KRW on Oct 1st. "
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
As you can see, we are still moving inside a trading range, doing little UP when the BTC is bouncing and dropping when the BTC is consolidating. It is not really funny to look the STEEM currentmy because we miss real volatility and volume. I think we will see all that back when the market will decide the direction of the next big move. Will we do a new low soon or do you consider the current price as the lower price opportunity to buy STEEM. Please share your opinion.
Last Updates
- 🗞 Daily Crypto News, September, 30th💰
- 🗞 Daily Crypto News, September, 29th💰
- 🗞 Daily Crypto News, September, 28th💰
- 🗞 Daily Crypto News, September, 27th💰
- 🗞 Daily Crypto News, September, 26th💰
- 🗞 Daily Crypto News, September, 25th💰
- 🗞 Daily Crypto News, September, 24th💰
- 🗞 Daily Crypto News, September, 22nd💰
- 🗞 Daily Crypto News, September, 21st💰
- 🗞 Daily Crypto News, September, 20th💰
- 🗞 Daily Crypto News, September, 19th💰
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