Market Update 12.18.18 – Lay-Offs in Crypto Industry Lower than Other Industries
Market News
Lay-Offs in Crypto Industry Lower than Other Industries
According to a recent report, in the last two months, layoffs in crypto companies have been on the rise. Consensys, one of industry majors, recently announced that it would be laying off 13% of its staff to streamline operations. Other companies have taken much more drastic measures. For example, Steemit, the social media network, announced at the end of last month that it would be laying off 70% of its staff because of the severe downtrend in the crypto market.
Interestingly enough, according to data from the outplacement company Challenger, Gray & Christmas, job cuts in other industries in the US are much higher. For example, General Motors cut 15% of its workforce – about 14,000 jobs – in November.
Read the details of this report here.
HKEX Reluctant to Approve IPOs for Crypto-Mining Companies
According to a source who is aware of the matter, the Hong Kong Stock Exchange (HKEX) has been reluctant to approve the applications for IPOs (Initial Public Offerings) from Chinese crypto-mining hardware makers.
After the cryptocurrency boom of 2017, crypto-mining hardware manufacturers Bitmain, Canaan Creative and Ebang applied to the HKEX for IPOs in September, May and June respectively in 2018. Bitmain’s bid to go public was considered a watershed moment as the company is one of the biggest crypto startups in the industry today.
Find out more about this story here.
Electronic Brokerage Tagomi Holdings Inc. Launched
The electronic brokerage startup focused on digital assets, Tagomi Holdings Inc. has been launched. The launch of this startup has been backed by the venture capital firm owned by the co-founder of PayPal Peter Thiel.
The firm’s service offerings include capital management, cross market execution, post trading and custodial and settlement services. The new company’s Chief Executive Officer Jennifer Campbell stated that their aim was to ease the current operational challenges users faced when trading in digital assets.
Find out more about this story here.
Total Market Cap: Dec 18
After weeks of continuous down-sliding, the crypto market seems to be on the road to recovery. The cryptocurrency market’s capitalization has jumped up in value in the last 24 hours to its current $113.63 billion, with trading volumes also going up to $17.38 billion.
Bitcoin Price Analysis: Dec 18
Bitcoin’s price has risen by 7.79% in the last 24 hours to trade at $3536.33. The capitalization of the digital asset is now at $61.63 billion and volumes of trade are higher at $5.83 billion.
Ethereum Price Analysis: Dec 18
The price of Ethereum has gone up by 9.38% since yesterday to trade at $94.32. The market capitalization of the altcoin is now $9.79 billion and trading volumes are $2.24 billion.
State of the Top 10 Cryptocurrencies: Dec 18
After weeks of downward movement and massive losses, the cryptocurrency market is in the green. All the top cryptos have gained in the last 24 hours. The biggest gains have been witnessed by EOS, which skyrocketed by 25.43%, followed by Ripple, which showed a more modest jump of 15.65% and Stellar, which followed closely with a 13.64% increase in its price.
- Bitcoin’s price is $3536.33, jumping 7.79%. The token’s market worth is $61.63 billion.
- Ripple’s price is $0.334558, jumping 15.65%. The token’s market worth is $13.63 billion.
- Ethereum’s price is $94.32, jumping 9.38%. The token’s market worth is $9.79 billion.
- EOS’s price is $2.46, jumping 25.43%. The token’s market worth is $2.22 billion.
- Stellar’s price is $0.110105, jumping 13.64%. The token’s market worth is $2.11 billion.
- Tether’s price is $1.01, gaining 0.80%. The token’s market worth is $1.88 billion.
- Litecoin’s price is $28.82, jumping 8.18%. The token’s market worth is $1.71 billion.
- Bitcoin Cash’s price is $90.61, jumping 9.98%. The token’s market worth is $1.58 billion.
- Bitcoin SV’s price is $79.72, gaining 4.32%. The token’s market worth is $1.39 billion.
- TRON’s price is $0.014286, jumping 8.94%. The token’s market worth is $949.50 million.