Cryptocurrency Round-Up – September 21, 2018

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British lawmakers may have hit the cryptocurrency nail on the head with a withering assessment of the market.

Forget the ballyhoo about hacks and regulation – they say there is no such thing as a cryptocurrency because real currencies pass three tests.

They are a store of value, medium of exchange and unit of account and that no cryptocurrencies tick all three boxes.

The committee also says the blockchain is too slow, costly and energy intensive to provide the infrastructure for verifying transactions at anywhere near the speed required by banks and businesses.

“Crypto-assets have no inherent value. In the absence of any market fundamentals, their prices fluctuate according to sentiment,” says the report.

Booking.com

This causes far higher volatility than other asset classes, exposing investors to larger potential gains, but correspondingly greater risk of loss. The use of blockchain as a payments system exacerbates these risks, since the exchange rate  can fluctuate significantly during the time it takes to settle a transaction.”

Cryptocurrency values

Here are the latest trading prices from cryptocurrency tracker CryptoCompare.com

  Bitcoin Ethereum EOS
Today $6,716.21 $225.61 $5.77
A week ago $7,692.69 $421.57 $7.19
One month ago $6,466.48 $275.42 $4.87
Three months ago $6,166.54 $474.18 $8.37
A year ago $3,617.27 $257.77 $0.56
High in year $19,345.19 $1,385.02 $21.41
Low in year $3,617.27 $183.03 $0.49
Market cap this week (billions) $115.96 $22.97 $5.22
Market cap last week (billions) $132.20 $42.61 $7.19
Market cap change in week (billions) -$16.24 -$19.64 -$1.97
  Bitcoin Cash Litecoin Ripple XRP
Today $480.51 $58.02 $0.46
A week ago $761.51 $77.85 $0.44
One month ago $531.18 $56.09 $0.32
Three months ago $762.42 $82.97 $0.49
A year ago $416.13 $46.46 $0.17
High in year $3,715.91 $357.51 $2.78
Low in year $310.56 $47.57 $0.17
Market cap this week (billions) $8.30 $3.39 $46.83
Market cap last week (billions) $13.09 $4.49 $16.98
Market cap change in week (billions) -$4.79 -$1.10 $29.85
  Dash Stellar Monero
Today $206.40 $0.24 $119.64
A week ago $215.65 $0.27 $128.17
One month ago $141.83 $0.21 $92.53
Three months ago $245.47 $0.20 $114.87
A year ago $329.85 $0.01 $85.80
High in year $1,433.41 $0.88 $467.50
Low in year $136.67 $0.01 $84.18
Market cap this week (billions) $1.72 $4.59 $1.97
Market cap last week (billions) $1.77 $5.24 $2.08
Market cap change in week (billions) -$0.05 -$0.65 -$0.11

Source: CryptoCompare.com

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