Today In Cryptocurrency: Circle Raises $110 Million, Blockchain ETF Launches

The cryptocurrency market continued its rough week on Wednesday, with most major currencies trading down more than 1.5 percent. Here’s a look at some of the headlines that were moving the cryptocurrency market today, and which currencies were on the move.

Headlines

The big news from day two of the CoinDesk Consensus conference, was that Boston fintech startup Circle announced it has raised $110 million in Series E funding, which values the company at around $3 billion. Circle also announced a new digital token Circle USDC, which will be a stable, tokenized version of the U.S. dollar. Bitmain was the leading investor in Circles latest fundraising round.

Lex Sokolin, global director of fintech strategy at Autonomous Research, told CNBC investors are going to buy cryptocurrencies even if their financial advisors tell them not too. He also said blockchain technology is critical for the current generation of startups.

Rex Shares launched the REX BKCM ETF BKC on Wednesday. The fund currently holds shares of 32 different stocks working to develop blockchain technology, including Taiwan Semiconductor Mfg. Co. Ltd. (ADR) TSM and Global Unichip.

Price Action

The Bitcoin Investment Trust GBTC GBTC traded at $13.82, down 3.0 percent.

Here’s how several top crypto investments fared Wednesday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours.

• Bitcoin declined 2.2 percent to $8,339;
• Ethereum declined 1.8 percent to $701;
• Ripple declined 2.1 percent to 69 cents;
• Bitcoin Cash declined 4.4 percent to $1,280;
• EOS declined 4.4 percent to $12.45.

The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are:

• Experience Points: $53.7-million market cap, 84.2-percent gain.
• Carboncoin: $2.5-million market cap, 76.3-percent gain.
• Megacoin: $1.4-million market cap, 56.7-percent gain.

The three cryptocurrencies hit hardest in the past 24 hours were:

• HTMLCOIN: $38.7-million market cap, 28.6-percent decline.
• LiteDoge: $1.3-million market cap, 25.6-percent decline.
• MaxCoin: $3.7-million market cap, 25.5-percent decline.

Related Links:

Today In Cryptocurrency: CoinDesk Consensus Highlights, Amazon Blockchain Partnership

Blockchain, Blockchain, Blockchain! Your Guide To This Week's Crypto Conferences