Market Update 8.21.18 – Bitcoin Cash Decreased Following Usage In Commerce

| Publish date: 08/21/2018
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Bitcoin Cash Decreased Following Usage In Commerce

According to a review of payments obtained by the world’s 17 largest crypto exchanges, Bitcoin Cash (BCH) has decreased after its usage commerce has decreased. A group of analysts from Chainanalysis found out that BCH payments significantly dropped to $3.7 million in May from $10.5 million in March.

On the other hand, the volume of Bitcoin (BTC) payments was estimated to be $60 million in May. The figure, however, was down from a high of $412 million in September. Kim Grauer, the senior economist at Chainalysis, said in a phone interview that Bitcoin Cash appears to have “fewer users” and “fewer holders.”

Read the full story here.

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Blockchain Researchers Receive $800K From US Government

The U.S. government plans to help fund a distributed ledger platform which is being developed by researchers at the University of California-San Diego. Subhashini Sivagnanam, a researcher and software architect with the Data Enabled Scientific Computing division at the San Diego Supercomputing Center, reportedly took home $818,433 courtesy of the National Science Foundation (NSF) to develop the Open Science Chain (OSC). The latter is basically a proposed distributed ledger that is specifically designed to help researchers efficiently access and verify data collected via various scientific experiments.

NSF is a long-standing scientific organization serves as a key conduit for research initiatives in the U.S. meant to tap federal resources. The government organization has already been known to fund a number of blockchain projects in previous years, including those focused on different aspects of cryptocurrency incentive mechanisms and blockchain technology use cases.

Read the full report here.

Huobi Launches New Service, Features Explained

Houbi Group, a Singapore-based cryptocurrency exchange, has recently launched a brand new product that is designed to streamline the token listing application process. The said service was specifically developed by the firm in order to provide a more transparent listing process. It is called the Huobi Automated Listing Platform.

According to the official announcement released by the Houbi Group, for projects to be listed on Houbi Global – including the autonomous digital asset exchange Houbi HADAX – they will have to be registered first. More importantly, specific documentation about the project should be submitted beforehand. The announcement adds that the Houbi Automated Listing Platform will, in one way or another, not automatically list any type of token or coin that applies.

Read the full report here.

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Total Market Cap: Aug 21

The volume of trade in the crypto market sat at $11.02 billion. The market’s capitalization, on the other hand, reached $208.04 billion.

Bitcoin Price Analysis: Aug 21

In the past 24 hours, Bitcoin fell 1.80% to trade at $6,365.59. The leading cryptocurrency’s trade volume trickled to $3.66 billion, while its market slid to $109.63 billion.

Ethereum Price Analysis: Aug 21

Ethereum’s price fell 6.82% to trade at $279.61. As for the altcoin’s trading volume, it reached $1.32 billion; whereas its market capitalization hit $28.37 billion.

State of the Top 10 Cryptocurrencies: Aug 21

In the past 24 hours, all prices were down. Meanwhile, Monero dethroned IOTA at the 10th spot.

  • Bitcoin’s market price fell 1.80% to $6,365.59, and its value in the market is $109.63 billion.
  • Ethereum’s market fell jumped 6.82% to $279.61, and its value in the market is $28.37 billion.
  • XRP’s market price fell 3.12% to $0.331247, and its value in the market is $13.04 billion.
  • Bitcoin Cash’s market price fell 6.30% to $527.54, and its value in the market is $9.13 billion.
  • EOS’ market price fell 8.29% to $4.80, and its value in the market is $4.35 billion.
  • Stellar’s market price fell 6.39% to $0.214629, and its value in the market is $4.03 billion.
  • Litecoin’s market price fell 4.69% to $54.77, and its value in the market is $3.17 billion.
  • Tether market price fell 0.10% to $1.00, and its value in the market is $2.73 billion.
  • Cardano market price fell 6.83% to $0.094055, and its value in the market is $2.44 billion.
  • Monero dethrones TRON at the 10th spot, but its market price fell 5.31% to $94.08, and its value in the market is $1.54 billion.
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