Summary:
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World’s first multi-crypto exchange-traded product starts listing on Swiss stock exchange
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ICOs in Q3 2018 raised significantly less than in the previous quarter
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Ethereum (ETHEREUM on xStation5) begins the week around this year’s low
Monday’s trading in the cryptocurrency market has begun with another step back as major cryptocurrencies have declined significantly again. BitcoinCash (BITCOINCASH on xStation5) has dropped around 12.5% whereas Ethereum (ETHEREUM on xStation5), the second largest cryptocurrency, has lost around 12% so far today. What’s more, today’s drops sent the capitalization of the whole market below the $180 billion mark.
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BITCOIN has experienced another loss today after three quiet days. The cryptocurrency price is trading just a notch above the last week’s low. Source: xStation5
Multi-Crypto ETP on SIX Swiss Exchange
The first piece of news comes from Switzerland where the SIX Swiss Exchange, the primary Switzerland’s stock exchange, has given a green light to the Amun Crypto Exchange Traded Product, according to the Financial Times. The newspaper reported on Friday the mentioned product will start trading in Zurich this week. Amun Crypto ETP is aimed at tracking an index based on the movements of five major virtual currencies. Almost the half of assets will be invested in Bitcoin, and the rest of them will be invested in Ethereum, Ripple, Litecoin, and BitcoinCash, as Amun described.
ETHEREUM has reached one of the worst results among major cryptocurrencies today so far. The virtual currency has dropped around 12% since the midnight. Source: xStation5
Third quarter’s ICOs raised significantly less compared to Q2
Secondly, ICORating, the crypto world analysis company, published its report concerning the ICO market in the past quarter. As the company wrote, initial coin offerings (ICOs) conducted in Q3 2018 gathered around the $1.82 billion within 597 projects in comparison to around the $8.36 billion raised in the previous quarter of 2018. What’s interesting, 57% of initial coin offerings were not able to gather more than $100 thousand, and just 4% of them were listed on exchanges, according to the ICORating’s quarterly report.
RIPPLE, like its other peers, has experienced some losses, but their scale seems to be moderate in comparison to falls seen in Ethereum and BitcoinCash. The cryptocurrency has dropped around 6.5% as of yet. Source: xStation5
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