BitDigest September 25 · Issue #750
- Crypto prices starting end of week in green with total market value at $334.9 billion
- The US Congress has introduced two new bills supporting the crypto ecosystem
- Germany pledges to move EC crypto discussion forward
Note: My API to Coinmarketcap.com is not linking this morning, sorry.
Bitcoin is trading at 10,604, up 2.67%
Ether (ETH) is at $340 up 3.91%
XRP (XRP) is at $0.23 up 3.5%
Bitcoin Cash (BCH) at $211 up 0.28%
Today is the 750th edition of the newer public format of Bitdigest –it was published as a basic email for the first year – and as I read through the news below it is amazing to see how the blockchain and crypto story has evolved. I decided to look back to issue # 75 from November 6, 2017 to see where the story was back then. Here are some of those headlines:
- Bitcoin (BTC) traded up to $7,500 but pulled back to $7,354 with ether (ETH) holding flat at $300.
- The Central Bank of Uruguay announced plans to test the digitization of the Uruguayan peso.
- Russian officials reveled that the country has lost approximately 18 billion rubles ($310 million at that time) in tax revenues due to a lack of ICO regulations
- Societe Generale added to concerns about excessive bitcoin speculation, with the bank’s deputy head saying that bitcoin is a bubble
- Goldman Sachs CEO Lloyd Blankfein admitted he is not comfortable with anything new, but said money backed by consensus rather than government degree may be the next evolution of hard currency.
A lot has changed over the past few years and I can only image where the conversation will be in 2023. Thanks for all your support, comments and conversations. I am looking forward to the crypto future.
The Headlines
![New Crypto Legislation Introduced in Congress BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/05/ef3f0ccac89133dca069e0411fd6bf46.jpeg)
New Crypto Legislation Introduced in Congress
![Germany Pledges to Speed up EU Crypto Efforts BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/08/194a9d0993442148bda255a756dc6980.jpeg)
Germany Pledges to Speed up EU Crypto Efforts
![Israel May Classify Crypto as a Currency BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/07/43d98550681b8380a02ebcd10aabc9cb.jpeg)
Israel May Classify Crypto as a Currency
![Binance Website Blocked in Russia BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/05/ad2337d91b535d75c25fbe0acb4ee08c.jpeg)
Binance Website Blocked in Russia
![Ant Launches 'Trusple' Blockchain BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/09/auto-draft-12.jpeg)
Ant Launches 'Trusple' Blockchain
![a16z Approved for Coinbase Transaction BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/09/auto-draft-13.jpeg)
a16z Approved for Coinbase Transaction
Market Data
![ETP Volumes Drop 74% Over Past Month BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/09/auto-draft-14.jpeg)
ETP Volumes Drop 74% Over Past Month
![Cambridge Releases New Global Cryptoasset Benchmarking Study BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/09/auto-draft-15.jpeg)
Cambridge Releases New Global Cryptoasset Benchmarking Study
- Employment growth in the sector increased 21%, down from 57% post the 2017 market frenzy;
- 39% of proof-of-work mining is powered by renewable energy
- Off-chain transactions continue to be dominated by fiat-crypto trading
- Stablecoins are becoming increasingly valuable
- The share of crypto-only companies that did not conduct any KYC checks dropped from 48% to 13% between 2018 and 2020
![Crypto Starting to Make the "World Go 'Round" BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/09/auto-draft-163.png)
Crypto Starting to Make the "World Go 'Round"
Thoughts on the Ecosystem
![Crypto Mom Still Supports Bitcoin ETF BitDigest September 25 · Issue #750](https://cdn.fsinsight.com/wp-content/uploads/2020/09/auto-draft-11.jpeg)
Crypto Mom Still Supports Bitcoin ETF
Reports you may have missed
CRYPTO MARKET UPDATE AFTER ANOTHER DAY OF SIZEABLE OUTFLOWS FROM ETHE 4.58% , THE GRAYSCALE-ISSUED ETF NOW RETAINS JUST 85% OF THE AUM IT BEGAN WITH ON TUESDAY. However, crypto has rallied strongly since the US market closed yesterday, with BTC 3.36% briefly moving above the $68k level, ETH 3.53% rebounding sharply to $3,250, and SOL 6.70% revisiting $184. Among larger-cap tokens, SOL beta names including RNDR and JUP have outperformed over the past 24...
CRYPTO MARKET UPDATE CRYPTO WAS CERTAINLY LOOKING STRONG RELATIVE TO EQUITIES YESTERDAY UNTIL ASIAN MARKET HOURS COMMENCED. Shortly after the HK market opened, we saw increased sell pressure and approximately $100 million in liquidations across all crypto assets, bringing BTC 3.36% down to below $64,000, ETH 3.53% down to $3,150, and SOL 6.70% to just below $170. This contrast in price action during U.S. and Asia market hours has been consistent throughout July....
CRYPTO MARKET UPDATE RATES ARE BROADLY LOWER, WITH A NOTABLY STRONGER RALLY AT THE FRONT END OF THE CURVE AS THE MARKET APPEARS TO BE TAKING POTENTIAL RATE CUTS OVER THE NEXT COUPLE OF FOMC MEETINGS MORE SERIOUSLY. Despite significant weakness in equities today, the crypto market is looking relatively healthy, with BTC 3.36% and many altcoins in the green. BTC 3.36% briefly rallied above $67k but has since drifted back down...
CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH 3.53% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC 3.36% to Bitstamp, leaving about 90k BTC 3.36% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC 3.36% is trading around $66.5k,...