The State of the Market: After a slight dip earlier in the day down to $260 billion, the crypto markets have mounted a recovery back up to just over $270 billion. Bitcoin (BTC) is currently changing hands at just under $6700 — marking a 1.6% increase on the day. In addition, ETH is currently trading at just under $480, for a modest 2% increase over the last 24 hours.

1) Ethereum-Founder Vitalik Buterin recently sat down with Tech Crunch to discuss scaling and the technological challenges of blockchain development. Among a myriad of comments, Buterin — citing Bitmain’s control of 53% of the total mining hash power — remarked that Bitcoin (BTC) is currently experiencing ‘gridlock’ of miner centralization. The Ethereum founder also stated that he hoped centralized exchanges ‘burn in hell as much as possible’ as the fiat-to-crypto capabilities these exchanges enabled were discordant with his vision of a fully decentralized future (read more).

2) Switzerland’s stock exchange announced today that it is building a digital asset ecosystem which will be owned and managed by the SIX Group. The first services of the integrated trading, settlement and custody infrastructure, are set to be unveiled some time in the middle of next year (read more).

3) The world’s biggest exchange, Binance with a trade volume of nearly $1.3 Billion in the last 24 hours, has reportedly generated $300 million in revenue from trading fees in the first half of 2018 alone. The exchange, which launched just one year ago, now boasts more than 10 million users. CZ, The CEO of Binance has stated that they project $1 billion in revenue by the end of 2018 (read more).

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