Summary:
- Kenya plans to use blockchain technology in real-time polling results
- Will US SEC change its mind regarding for Bitcoin ETFs?
- Bitcoin (BITCOIN on xStation5) settles down between $6300 and $6500
Friday is another calm day on the cryptocurrency market. Friday’s trading has started insipidly. Over the past 24 hours major virtual currencies slightly increased. Bitcoin is settling down between $6300 and $6500. The Bitcoin market capitalization stands around the $110 billion mark another day in a row. The capitalization of the whole cryptocurrency market sits a notch above $210 billion (this figure has remained almost unchanged value since mid-August). Today’s newsflow concerns the continued story related to US SEC’s decisions and Kenya’s plans related to using blockchain technology.
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At press time, BITCOIN is trading around the $6500 handle, approaching the upper bound of the consolidation. BITCOIN seems to be stabilising between $6300 and $6500, but given that the range is quite narrow is likely the cryptocurrency could move out of it. Source: xStation5
The United States Securities and Exchanges Commission (SEC) has spoken once again about Bitcoin ETFs. Let us recall (we wrote about it yesterday) that SEC rejected nine Bitcoin ETFs proposals on Wednesday. According to SEC Secretary’s letters, “the Commission will review the delegated action”. In the further part of the letters, SEC Secretary Brent J. Fields has written “the August 22 order is stayed until the Commission orders otherwise”. We are going to keep a close eye on this topic in the nearby future.
ETHEREUM is settling down around the $270 handle, moving close to the 8-period moving average on the H4 interval (a yellow line on the chart), at press time. Source: xStation5
Let's move to Africa where the Independent Electoral and Boundaries Commission of Kenya announced that it plans to use blockchain technology. The Kenya’s Commision wants to use this modern technology to real-time polling results. A voting process in Kenya often abounds in some problems and accusations of outrages. Blockchain probably could not solve all global problems, but… could this technology ameliorate the voting process in the African country? Given Kenya’s turbulent political atmosphere it may be quite problematic.
RIPPLE, like Ether, has started Friday calmly. The cryptocurrency is moving rather flat around $0.32 at press time. What’s more, the price has approached the 8- and 33-period moving averages on the H4 interval (yellow and purple lines on the chart). Source: xStation5
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