Daily Cryptocurrencies & Blockchain Update, October 3rd, 10:30:00 CET
📬 Daily Cryptocurrencies & Blockchain Update, October 3rd, 10:30:00 CET
Disclaimer: Nextblock.io and the information contained herein is not intended to be a source of advice or credit analysis with respect to the material presented, and the information and/or documents contained in this website do not constitute investment advice
Bitcoin
🔼The U.S. Justice Department has claimed the proceeds from the sale of 144,336 bitcoins, valued at just over $48 million, that it obtained after shutting down the notorious online drug market Silk Road in 2013. While the government had already sold the bitcoins in a series of auctions in 2014 and 2015, the creator of Silk Road, Ross Ulbricht (aka Dread Pirate Roberts) had challenged the legality of the forfeiture. https://goo.gl/bzyQbP
🔼It may be still be some time before investors will be able to trade in digital currencies through funds like those linked with stocks and other securities. Intercontinental Exchange Inc had hoped to launch Grayscale Investments LLC’s Bitcoin Investment Trust (GBTC) for just that purpose, but reportedly withdrew its application once it ran into difficulties with the U.S. Securities and Exchange Commission (SEC). On the same day, Van Eck Associates Corp. withdrew a similar registration document for a proposed bitcoin fund as well, once the SEC informed the company the filing could not be reviewed until futures contracts began to trade. https://goo.gl/Uwp295
📶 Technical Analysis: https://goo.gl/fS8W8b
Ethereum
🔼 Major pharmaceutical conglomerates Pfizer and Genentech, together constituting a market cap greater than $300 billion, recently announced the MediLedger blockchain platform, powered by JP Morgan's enterprise-focused, Ethereum-based Quorum, designed to keep counterfeit goods out of medical supply chains. https://goo.gl/aCbwXm
🔼 As reported by Bloomberg, the CFTC has asked Coinbase — the owner and operator of GDAX — to supply information about the June 21 flash crash, which caused the ethereum price to plunge from $317.81 to 10 cents within milliseconds before recovering to its previous level. Bloomberg cites two unnamed sources familiar with the matter who say that the financial watchdog is interested in whether margin trading played a role in the incident. Through margin trading, large-scale traders can use borrowed funds to place high-risk bets on the future value of the asset, in this case, ether. https://goo.gl/FyBCje
📶 Technical Analysis: https://goo.gl/qAE2Nu
NEO
🔼 Special Version of the $NEO-GUI for the $RPX ICO is available https://goo.gl/BFmfs6
📶 Technical Analysis: https://goo.gl/w7PVh5
Upcoming ICOs
🆕 Qvolta starts in 6 days https://qvolta.com
🆕 Modex starts in 4 days https://www.modex.tech
🆕 Red Pulse starts in 5 days http://coin.red-pulse.com
Blockchain News
🔼 Blockchain technology is no longer just for startups. Now even the big businesses are getting on board. In the latest example, Oracle announced Monday it will release a new platform next year that's designed to help businesses use blockchain technology for supply chain management and smart contracts. https://goo.gl/eEvnXx
🔼 Major insurance groups AIG and AIA are among 23 new members of the B3i blockchain insurance consortium. The new slate of entrants was unveiled earlier today, drawing in members from Asia, the Middle East and North America, among other regions. B3i initially launched in October of last year, backed by a group of notable European-based insurers that included Allianz, Aegon, Swiss Re and more.https://goo.gl/m166XZ
🔼 BP is experimenting with blockchain to make oil and gas trading more efficient in the latest sign of big companies bringing the database technology into mainstream use.
The UK group said it was investing in pilot programmes to explore the “practical and ethical” implications of using blockchain in the energy sector.
🚩 Avoid Wc3club.com
🚩 Avoid Coinsminer.org
🚩 Avoid Arab-autobank.com
Final Summary:
As it stands $150BN will be proven to be a significant milestone in the total market cap of crypto. Most cryptocurrencies retraced as after it was hit. ETH back below $300 BTC below $4300 and the best performer in the top #10 NEO is back below $34. With current news and development going on in the space this does not appear to be in the position for a big decline but we could see cryptos hit major supports before targeting a break above $150BN again.
Key Events/Conferences Today:
Crypto Economics Security Conference Berkeley, CA
The Rise of ICO Summit Linz, Austria
Enjoy your Day
Nextblock Team