Market Update 10.10.18 – 25,000 German Retailers May Accept Crypto Payments by 2019
Market News
25,000 German Retailers May Accept Crypto Payments by 2019
A Swiss startup is trying to make using cryptocurrencies as a method of online payment as safe and simple as using PayPal. The biggest problem that people have against cryptocurrencies is that it is hard to spend in regular retail outlets. This perception continues despite the fact that a study by CNBC shows that the total amount of Bitcoin spent for online merchant services has gone up from $9.8 million in 2013 to $190.2 million in 2017.
Now, UTRUST is looking at helping global retailers use and accept cryptocurrencies as a mode of payment.
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MAS Working to Ensure Crypto Startups Get Banking Services
Singapore’s central bank, the Monetary Authority of Singapore (MAS), is working towards ensuring that crypto based startups are able to receive banking services. This is being done as part of the island nation’s focus on developing the fintech industry.
Ravi Menon, the managing director of MAS, stated in an interview that Singapore’s central bank was trying to bring traditional banks and crypto-based fintech startups to a common platform to see if there was some kind of an understanding that could be reached between the two groups. Currently, traditional banks are wary of offering their services to crypto startups as they could cause regulatory issues.
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Blockchain Projects to Increase Efficiencies in Commodities Markets
According to JP Morgan’s former executive, Blythe Masters, hundreds of Blockchain based projects may soon increase efficiencies in commodities markets. Masters is the CEO of her own software company called Digital Asset Holdings and she believes that the commodities sector’s supply chain could benefit greatly from Blockchain technology.
At the exclusive, invite-only London Metal Exchange annual dinner, Masters stated that supply chains were known to be extremely complex as well as inefficient and that using Blockchain technology would make the supply chain a lot more efficient.
In fact, the industry stalwarts are already taking steps in that direction, with global giants in industries as diverse as shipping to agriculture are looking for Blockchain based solutions.
Read more here.
Total Market Cap: Oct 10
Trading volumes in the cryptocurrency market have dropped by $0.75 billion to $11.38 billion in trading today. The market’s capitalization has fallen by $4.01 billion to $216.82 billion.
Bitcoin Price Analysis: Oct 10
Bitcoin’s price is $6560.19, dropping 1.13% in the past 24 hours. The crypto’s market value is down to $113.58 billion and has trading volumes of $3.74 billion.
Ethereum Price Analysis: Oct 10
Ethereum’s trading price is now $225.66, a 1.35% drop over yesterday. The market value of ETH is $23.15 billion and its volume of trade is $1.38 billion.
State of the Top 10 Cryptocurrencies: Oct 10
After yesterday’s gains, the cryptocurrency market is once again in the red, with the entire top ten list losing in trading today. The biggest losses have been experienced by Ripple (down by 3.07%), Stellar (down by 2.56%) and Litecoin (down by 2.35%).
- Bitcoin has a current price of $6560.19, losing by 1.13%. Bitcoin’s market value is $113.58 billion.
- Ethereum has a current price of $225.66%, losing by 1.35%. Ethereum’s market value is $23.15 billion.
- Ripple has a current price of $0.466824, losing by 3.07%. Ripple’s market value is $18.64 billion.
- Bitcoin Cash has a current price of $510.66, losing by 1.50%. Bitcoin Cash’s market value is $8.88 billion.
- EOS has a current price of $5.85, losing by 0.61%. EOS’s market value is $5.29 billion.
- Stellar has a current price of $0.239457, losing by 2.56%. Stellar’s market value is $4.52 billion.
- Litecoin has a current price of $57.58, losing by 2.35%. Litecoin’s market value is $3.37 billion.
- Tether has a current price of $0.994703, losing by 0.10%. Tether’s market value is $2.69 billion.
- Cardano has a current price of $0.084020, losing by 2.29%. Cardano’s market value is $2.17 billion.
- Monero has a current price of $111.78, losing by 1.95%. Monero’s market value is $1.84 billion.