Nearly Every Major Cryptocurrency is Down at Least 90% from All-Time High

Earlier this year, in February, Tom Lee — co-founder of Fundstrat Global Advisors, the first Wall Street strategy firm to embrace bitcoin — opined that the crypto market had turned a corner and would see new highs in July. Nine months and several year-end price target reductions later, cryptocurrency assets remain firmly in the red. … Continued The post Nearly Every Major Cryptocurrency is Down at Least 90% from All-Time High appeared first on CCN

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Institutions Still Bullish On Crypto: Grayscale Owns 1% of All Bitcoin

As Bitcoin continues its chaotic price action, ceaselessly falling and ascending through key levels, some paranoid traders have feared that institutional investors have been alienated from the crypto market. Yet, reports indicate that Grayscale’s growing war chest has continued to swell, while institutional players continue to express interest in crypto assets. This, of course, makes it more than palpable that institutions see immense value in cryptocurrencies, and potentially, that a market bottom is inbound. Grayscale Owns $826 Million in Bitcoin According to a research report released on December 3rd, from the…

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Thai Crypto Exchange Satang Plans to Raise $10 Million in Security Token Offering

Thai cryptocurrency exchange Satang Corp. plans to raise nearly $10 million in a security token offering (STO), despite the recent market meltdown, Asia-focused business publication Nikkei Asian Review reported Dec. 4. Satang’s plans are reportedly supported by the Government of Thailand in a bid to make the country a blockchain center and develop a regulatory framework for digital currencies and blockchain. According to the exchange’s CEO Poramin Insom, the STO will be conducted in the first quarter of 2019. Satang reportedly plans to use the $9.9 million it raises to…

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