This video is a recap for the cryptocurrency market for the week ending September 23, 2018.
For more on this week's developments, please visit: https://crushcrypto.com/cc-weekly-september-23-2018/
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- The market moved up significantly last week with the overall cryptocurrency market cap increasing 11% to $226 billion dollars.
- Bitcoin moved up 3% to the $6,700 dollar level as average trading volumes increased 22% from the previous week.
- Ripple outperformed with a 103% weekly gain. At one point, Ripple surpassed Ethereum as the second most valuable cryptocurrency. Stellar also relatively outperformed with a 36% increase during the week, surpassing Ethereum in diluted market cap according to OnChainFX.
- Binance, the largest crypto exchange in the world by volume, announced that they will be testing a fiat crypto exchange in Singapore. Live money closed beta testing was slated to start on September 18th by invitation only.
- In Japan, another cryptocurrency exchange was hacked and lost approximately $60 million dollars worth of cryptocurrencies. The exchange is called Zaif and is a licensed exchange operated by the Tech Bureau.
- In the US, the SEC has postponed its decision on a Bitcoin ETF yet again. An application for the ETF was submitted by VanEck and SolidX and the review process has dragged on for several months already.
- The Monetary Authority of Singapore confirmed that no security tokens have been approved by them so far. During a conference in Singapore a few days ago, a representative from the regulator explained that there is a lot of discrepancy on what counts as a security and what doesn't.
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.