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#CryptoCorner: Lowest Market Cap in 9 Months, #SEC Faces 9 #ETFs in the Next 2 Months, Thailand Receives 50 ICO Project and 20 Exchange Applications and MLBPA Teams with Startup For #Crypto Tokens

August 9th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH), GBT a powerful #cryptocurrency centralized / decentralized exchange

 

Point Roberts, WA and Delta, BC - August 9, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

Listen to today's Crypto Corner Podcast:

http://www.investorideas.com/Audio/Podcasts/2018/080918-CryptoMarket.mp3

#CryptoCorner: Lowest Market Cap in 9 Months, #SEC Faces 9 #ETFs in the Next 2 Months, Thailand Receives 50 ICO Project and 20 Exchange Applications and MLBPA Teams with Startup For #Crypto Tokens

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Crypto Corner

Lowest Market Cap in 9 Months, SEC Faces 9 ETFs in the Next 2 Months, Thailand Receives 50 ICO Project and 20 Exchange Applications and MLBPA Teams with Startup For Crypto Tokens

We continue to see decline as the total market capitalization for crypto got as low as $219 billion USD overnight, which is the lowest it';s been in nine months. At press time it has recovered modestly to $225 billion USD, according to CoinMarketCap. Bitcoin (BTC), currently trading at just under $6500 USD and accounting for 49 percent of market dominance, got as low as $6227 USD last night.

The consensus seems to be that the plummeting prices in the crypto market are most likely related to the U.S. Securities and Exchange Fund';s (SEC) move to delay their decision on a proposed SolidX and VanEck exchange traded fund (ETF) until September 30. CoinDesk reports that there are, in fact, a total of nine ETFs being decided upon by the SEC in the coming two months. August 23 marks the deadline of two funds proposed by ProShares, September 15 for two funds proposed by GraniteShares and September 21 for four funds proposed by Direxion. The report outlines a few ways that the SEC can delay these decisions, much like they have with the SolidX-VanEck proposal.

"To be sure, the agency could release its decisions ahead of its prescribed deadline (as the SEC did this week). But past examples indicate that the SEC will wait until closer to the deadlines, all but ensuring additional nail-biting by the crypto community."

The Bangkok Post reports today that the Thai government is being inundated with applications following the announcement last month of licensing regulations on the crypto market. Among the applicants are 50 ICO projects and 20 companies seeking to operate as digital exchanges. Once an application has been submitted, the regulator has up to 90 days to forward it to the Finance Ministry. Upon receipt the Finance Ministry has 60 days to decide on approval. Despite the rigour of the licensing process, Thuntee Sukchotrat, the CEO of JIB Digital Consult, is quoted in the report saying that digital assets will be the future of investment.

"I believe that investors will invest in digital assets instead of stocks in the future. The performance of ICOs will rise in line with ICO project performance. The investment ratio of ICOs to stocks will be on par within two years."

Forbes reports that Seattle-based startup Player Tokens has partnered with the Major League Baseball Players Association (MLBPA) to create a cross between trading cards and digital assets. The Player Tokens come in packs and each represent a particular player. They can be traced back through the blockchain to validate their authenticity, making each token identifiable with its collector. Player Tokens Founder and CEO Kush Parikh explained the aim of the project:

"We';re really trying to leverage the collectible world from baseball. We';re looking to have fans collect their favorite players and we';ll build more engagement between the fans and players through the digital experience. There';s a scarcity aspect that will make it fun from a collectibles perspective."

Sam Mowers, Investorideas

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Crypto Corner Sponsors:

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