Cryptocurrency News Roundup | September 17 — September 23
Welcome to the PlayChip cryptocurrency news roundup, where you can keep up to date on all of the weeks important cryptocurrency and blockchain related news.
Dare The Beast Rise From its Slumber?
The altcoin market picked up steam over the weekend, with XRP (CRYPTO:XRP) leading the charge. XRP briefly bumped out industry stalwart Ethereum to take the number two position on CoinMarketCap.com’s cryptocurrency rankings. The token posted a 24hour high price of $0.76 (USD), a 60% increase for the same period, before stabilising around the $0.55 mark.
After almost an entire year of retracements and pullbacks, we finally saw signs that the crypto bear market may be winding down. CEO of digital investment firm Galaxy Digital and defacto industry spokesman, Mike Novogratz, believes the Bitcoin bears are showing signs of seller fatigue.
Novogratz referred to the BGCI (Bloomberg Galaxy Crypto Index) chart which shows that prices completed a full retrace, returning to the all-time-high set prior to the November 2017 breakout. The Bloomberg Galaxy Crypto Index measures the performance of a number of large cap cryptocurrencies.
Novogratz famously abandoned plans for a cryptocurrency hedge fund right at the height of the 2017 Bitcoin price rally, a decision that turned out to be extremely prescient given the hard landing Bitcoin suffered in the early stages of 2018.
“Be fearful when others are greedy and greedy when others are fearful.” — Warren Buffett
PlayChip Foundation Becomes AUSTRAC Registered Digital Currency Exchange
Big news for the PlayChip Foundation team this week, we’re glad to report that we’ve been registered by AUSTRAC to operate as a ‘Digital Currency Exchange’.
The PlayChip team aims to make the PlayChip the go-to utility token for users of all fantasy sports and online gaming entertainment services. Registration with the Australian Transaction Reports and Analysis Centre is a mandatory step for any Australian business planning to transact digital currencies.
The PlayXchange will now be able to operate as a cryptocurrency exchange, allowing us to provide users of the PlayChip the greatest level of convenience. Users will be able to convert their Bitcoin and Ethereum (and potentially other major cryptocurrencies) directly into PlayChips via the PlayWallet app. An important step in providing a seamless, user friendly gaming experience.
The PlayWallet and PlayXchange will be made available to the public in late 2018 and will coincide with the launch of the PlayChip utility token.
For more information regarding the PlayChip ICO click here.
Images courtesy of Wikimedia Commons.
