Market Update 6.24.18 – 4 Blockchain Startups Receive $100K Thiel Awards

| Publish date: 06/24/2018
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4 Blockchain Startups Receive $100K Thiel Awards

It seems there are new names added to the Thiel Fellowship awardees. This is due to the fact that developers and entrepreneurs behind four different blockchain startups have recently acquired the said award. Created the billionaire and PayPal co-founder Peter Thiel, The Thiel Foundation revealed this year’s class of Thiel Fellows. This year’s recipients include, but not limited, to Vest co-founder Axel Ericsson, Polkadot co-founder Robert Habermeier, MyCrypto CTO Daniel Ternyak and Mechanism Labs co-founder Aparna Krishnan.

The aforementioned individuals now join the crypto community’s most notable Thiel fellow Vitalik Buterin, who is none other than the co-founder of Ethereum. He received the award sometime in 2014. Apparently, each recipient is entitled to at least $100,000 grant over the next two years. This should help them build their projects, both ongoing and future.

Read the full story here.

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Bitfinex CSO Steps Down

The news came in suggesting that the Chief Strategy Officer CSO of Bitfinex crypto exchange named Phil Potter is stepping down from its post. He will be replaced in the interim by none other than Jean-Louis van der Velde, the company’s very own CEO. Potter said that the resignation was only “natural time” for him to leave the team, especially since Bitnex is poised to focus on “other strategic international markets.”

Potter mentioned “new opportunities,” but he did not entirely specific what these are. It is worth noting that Bitfinex is considered the 4th largest crypto exchange by trade volume. The company also shares management with Tether, which basically issues digital tokens pegged to the U.S. dollar.

Read the entire report here.

Litecoin Founder Remains Optimistic About Crypto Price

Charlie Lee is the developer behind the world’s sixth largest cryptocurrency, Litecoin. He reportedly believes that Bitcoin and other digital assets will soon recover. He even remains optimistic despite the recent hack of Bithum, which, to him, does not entirely change the fundamentals of the leading cryptocurrency or other altcoins. He said that just because a bank’s gold is stolen does not mean that the latter’s price and/or value is changed.

He applied the same idea to all the digital tokens, suggesting that nothing will truly change the fundamentals of these cryptocurrencies. Lee, however, admitted that it is crucial for exchanges to acquire better security measures in order to protect all the assets under their control. He is confident that as the industry develops and matures, these issues will soon be eliminated.

Read the full story here.

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Total Market Cap: June 24

The volume of trade in the crypto market sat at $11.72 billion. The market’s capitalization, on the other hand, reached $255.49 billion.

Bitcoin Price Analysis: June 24

In the past 24 hours, Bitcoin fell a notch by 0.40% to $6,122.57. The leading cryptocurrency’s trade volume trickled to $3.38 billion, while its market slid to $104.77 billion.

Ethereum Price Analysis: June 24

Ethereum’s price fell at around 0.26% to trade at $470.90. As for the altcoin’s trading volume, it reached $1.63 billion; whereas its market capitalization hit $47.21 billion.

State of the Top 10 Cryptocurrencies: June 24

In the past 24 hours, most of the prices are down except IOTA. The latter, however, fell to the 10th spot as TRON moved up.

  • Bitcoin’s market price fell 0.40% to $6,122.57, and its value in the market is $104.77 billion.
  • Ethereum’s market price fell 0.26% to $470.62, and its value in the market is $47.19 billion.
  • Ripple’s market fell 0.77% to $0.488760, and its value in the market is $19.18 billion.
  • Bitcoin Cash’s market fell 1.88% to $751.53, and its value in the market is $12.93 billion.
  • EOS’s market price fell 4.62% to $8.32, and its value in the market is $7.45 billion.
  • Litecoin’s market price fell 4.36% to $81.96, and its value in the market is $4.68 billion.
  • Stellar’s market price fell 1.48% to $0.200829, and its value in the market is $3.77 billion.
  • Cardano’s market price fell 3.58% to $0.136944, and its value in the market is $3.55 billion.
  • TRON’s market price fell 1.09% to $0.043481, and its value in the market is $2.86 billion.
  • IOTA fell to the 10th spot, but its market price jumped 0.30% to $1.02, and its value in the market is $2.82 billion.
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