Market Update 7.05.18 – Binance Resumes Trading Services

| Publish date: 07/05/2018
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Binance Resumes Trading Services

Binance announced that it has resumed its services after it had suspended them on July 3 after an alert was given to the exchange about irregular Syscoin (SYS) trading by multiple API users. Rather than take a chance, the cryptocurrency exchange suspended all trading, deposits and withdrawals. The exchange also took extra security measures to ensure that their customers’ funds were all safe.

Specific details of what exactly happened have still not been disclosed, however, reports indicate a sudden spike in SYS trading on Binance, accounting for more than 87% of the crypto’s total trading volume.

Find out more here.

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R3’s Corda Platform Being Used by Major Insurers

R3 scored a massive win over other Blockchain tech providers in the insurance sector. The RiskBlock Alliance, which boasts insurance heavyweights such as Marsh, Chubb and Liberty Mutual as some of its members, has chosen R3’s Corda platform to build its first set of use cases.

Just before this news broke, R3 had already managed to lure the European reinsurance consortium, B3i, away from Hyperledger Fabric to their Corda platform. Now, with RiskBlock also on Corda, R3 is host to all the major insurance Blockchain users. The project also managed to attract Insurwave, a marine insurance platform created by Maersk and EY. R3 also wooed regional insurance Blockchain projects from India and Italy.

Find out more here.

Uzbekistan President Signs Decree for Blockchain Tech

The Uzbekistani President Shavkat Mirziyoyev has signed a decree on the development as well as integration of Blockchain based technology, cryptocurrency mining and cryptocurrency assets to modernize the country’s administration system and encourage the growth of the digital economy.

This new document states that Blockchain, AI, super computers as well as the cryptocurrency industry are key development indicators of global digital economics. Therefore, this decree now calls for the government to create conditions to introduce and grow digital economics in Uzbekistan.

Find out more here.

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Total Market Cap: July 05

The digital currency market’s trading volume is currently up at $15.14 billion and the capitalization is now $273.31 billion.

Bitcoin Price Analysis: July 05

Bitcoin’s price gained 2.15% to trade at $6684.58 per token today. The cryptocurrency’s trading volume is at $4.61 billion and its capitalization is up to $114.62 billion.

Ethereum Price Analysis: July 05

ETH went up by 1.91% to trade at a current price of $476.61. The digital coin’s volume of trade is currently $1.61 billion and its market value is currently at $48.09 billion.

State of the Top 10 Cryptocurrencies: July 05

Today, the top ten cryptocurrencies showed a mixed bag of performances. Bitcoin went up by 2.15%, which was the biggest jump among all the cryptos trading so far today in the top ten list. EOS was number two with a 1.92% increase in token price, while Ethereum was in third place with a 1.91% increase. LTC and BCH each dropped by less than 1% in trading so far today.

  • Bitcoin climbed 2.15% to trade at a price of $6684.58. The token’s market value is $114.62 billion.
  • Ethereum climbed 1.91% to trade at a price of $476.61. The token’s market value is $48.09 billion.
  • Ripple climbed 0.54% to trade at a price of $0.487889. The token’s market value is $19.15 billion.
  • Bitcoin Cash dropped 0.64% to trade at a price of $757.43. The token’s market value is $13.04 billion.
  • EOS climbed 1.92% to trade at a price of $9.02. The token’s market value is $8.07 billion.
  • Litecoin dropped 0.08% to trade at a price of $84.97. The token’s market value is $4.86 billion.
  • Cardano climbed 0.54% to trade at a price of $0.152003. The token’s market value is $3.94 billion.
  • Stellar climbed 1.16% to trade at a price of $0.209558. The token’s market value is $3.93 billion.
  • IOTA climbed 0.84% to trade at a price of $1.19. The token’s market value is $3.29 billion.
  • Tether climbed 0.08% to trade at a price of $1. The token’s market value is $2.71 billion.
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