Daily Cryptocurrency News – 12th November 2018

Here are the most important headlines of 12th November 2018 in the cryptocurrency space:

IOTA Invited To The Frankfurt European Banking Congress, Bosch & IOTA Explained

It seems like IOTA will have a productive November. Among the top speakers from the financial sector – there’s also a representative of IOTA. Dominik Schiener, the Co-founder of IOTA token will talk at the Economic Congress Germany. The topic of the discussion will be about the chances of DLT for companies – more exactly: The Blockchain Revolution – a Business Opportunity?.

The news were officially reported by Sueddeutsche.de – a well known news website from Germany. These could be great news for IOTA – as Dominik is among the few speakers not working in the Financial sector only. Besides, this could be a great opportunity for IOTA to establish partnerships with multiple German businesses and grow IOTA to its full potential. 

Moreover, Bosch recently launched an article explaining everything that a person need to know about IOTA, XDK2MAM and Bosch XDK. In that article, Bosch explains how an ecosystem development bridges IOTA and the XDK. More details can be found in the Bosch’s article about IOTA and Bosch XDK.

Decentralized Exchanges – The Latest SEC Victim 

As you may know, SEC doesn’t really like ICOs. But now, they move forward to another cryptocurrency related service – the decentralized exchanges. According to the U.S. Securities and Enforcement Commission, there was a chage of $400,000 against Zachary Coburn – the founder of EtherDelta. The reason for this was the fact that a decentralized exchange mainly ‘sells the same kind of tokens as the ICOs – the ERC20 tokens’ and SEC considers those as being ‘unregistered securities’.

Coburn didn’t complained about this, and decided to pay the settlement fee. But this is the first time something like this happen on a decentralized exchange – and as SEC hinted: there are many others to follow. The Coburn’s cooperation lead to no other greater penalty – but left the cryptocurrency world asking – is this the end for decentralized exchanges?

Probably not. But the future isn’t so bright for the decentralized exchanges – as most of them now need to implement a KYC procedure and delist any token with a security-like property.  ShaepShift and IDEX became the first ones that adapt with this news, introducing KYC rules to their peer-to-peer exchanges. Even if the decentralized exchanges will still be active in the future, the fact that the anonymity part will disappear is not bringing any joy to the crypto communities.

Japan’s GMO – Massive Q3 Performance on Crypto-Related Businesses

The Japanese GMO launched its Q3 report today, 12th November 2018. Even though the market seems to be on a lower level than last year’s bull run – the cryptocurrency part of GMO is growing steady. To summarize it:

  • The mining equipment production and the crypto exchange brought 2.6 Billion yet in revenue ( $22.8 Million) – only in the Q3 part of this year, at only 1 year since they launched it.
  • GMO coin – an exchange platform launched by GMO – now have 208,000 users trading about 89 Billion yen ( $781 million) only in October
  • The profit is up 34.4% , speaking from a quarter on quarter basis
  • The October mining hashrate was 674 petahash per second (PH/s) – but they’re planning to reach 800 PH/s until the end of 2018
  • Company changed their ticket from GJY to GYEN
  • GMO also reported the creation of the cryptographic stablecoin in early October – available for international trading in 2019. This stablecoin will be tied to the JPY pair – being the first one in its existence.

More details about GMO can be found in the ‘GMO Q3 Report

The Coinbase Bull Effect – Zcash, Stellar & Cardano Slowly Increase In Value

After the successful listing of 0x and BAT – Coinbase is now preparing to list ZEC, XLM and ADA.This lead to an increase in trading volume as well as a small increase in price for these cryptocurrencies, as investors are preparing for the Coinbase listing effect – a small bull run followed by a slow decrease.

Since 0x was listed on Coinbase, Cardano (ADA) saw an increase in price from $0.069 to an high of $0.08  and is now trading at $0.076 – with a 1% increase for today. The trade volume for Cardano (ADA) for today is a $24.7 Million – a massive increase from the $13-$18 million prior to 0x being listed to Coinbase.

Stellar Lumens decreased to $0.20 on the date when 0x was listed to Coinbase, but increase by 20% in only a matter of days. Stellar Lumens reached today a peak for October and November, reaching a value of $0.284 – a 30%+ increase since 0x was listed on Coinbase. The trading volume for XLM today was an amazing $118 Million. The price can also be affected by the recent XLM partnership with Blockchain.com – being the 4th cryptocurrency accepted by their service.

Zcash reached an amazing $140 price last week, with a 21% increase over two weeks. It also had a small pump in price prior to the BAT’s Coinbase listing, growing from $115.01 to to $127.70 in less than a day. Since then, Zcash had a small decline reaching a $127.25 at the time of speaking and being 2.36% down for today.

The Coinbase Bull effect helped BAT and 0x double in price, but might not have the same effect for Cardano,Zcash or Stellar. The main reason for this would be the fact that the volume for these cryptocurrencies is much higher than the 0x or BAT one and it would be harder to achieve a 100% increase – however, we can see some 20-30% surges before the Coinbase listing.

Other Important News

If you’ve missed yesterdays’ news – you can read about them here: Daily Cryptocurrency News – 11th November 2018

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