Market Update 5.02.19 – Bitfinex Shareholders Release More Details

| Publish date: 05/02/2019

Market News

Bitfinex Shareholders Release More Details

It seems Bitfinex may just be successful in raising at least $1 billion through a token sale, which is expected to take place next week. A shareholder by the name of Zhao Dong said that the company is looking for the possibility of doing an initial exchange offering (IEO). He even encouraged people interested to reach out to him or the group he himself founded called DFund.

Not only is a buy-in of $1 million expected to be possible, but there will also be a total supply of around 1 billion tokens. These tokens, according to Zhao, will be made available for $1 each. The shareholder further said that at least $500 million has already been deemed subscribed. He added that those who will be allowed to invest are guaranteed qualified foreign investors. As such, they are required to process a “soft” commitment to the upcoming sale.

Read the full report here.

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Central Banks Use Blockchain For Cross-Border Payments

The central banks of Canada (Bank of Canada or BoC) and Singapore (Monetary Authority of Singapore or MAS) have just completed a trial of cross-border payments, but this time around, they used blockchain technology. Even more so, the attempt was made possible after utilizing central bank digital currencies (CBDCs).

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The two central banks revealed that the news of the successful trial, which is deemed to be the first of its kinds between them. They further said that the trial resulted in “great potential,” one that can significantly increase efficiencies and, more importantly, minimize risks when it comes to cross-border payments.

The joint effort saw them being able to link up their respective blockchain projects, which are called Jasper and Ubin. These two projects, in particular, are basically built on two different blockchain networks, namely, JPMorgan’s Quorum (Ubin) and R3’s Corda (Jasper).

Read the full report here.

MakeDAO Showcases Tech To Back DAI

This is definitely great news for all borrowers of the U.S. dollar-pegged stablecoin called DAI. That is because they will soon gain the ability to back their loans, one that can be done in a good number of digital currencies, although doing so is only possible if a new web portal has been developed and implemented.

As of press time, there are around $300 million worth of Ether locked in locked in smart contracts on Ethereum. They are expected to back the aforementioned stablecoin’s dollar valuation.

Read the full report here.

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Total Market Cap: May 2

The trade volume reached $41.88 billion in the past 24 hours. As for the market capitalization, it reached $176.72 billion.

Bitcoin Price Analysis: May 2

Bitcoin remains to be the world’s leading cryptocurrency, especially after jumping 1.29% and registering a trade price of $5,448.60. Meanwhile, its trade volume and market capitalization registered $13.56 billion and $96.31 billion, respectively.

Ethereum Price Analysis: May 2

Ethereum follows Bitcoin in the ranks, as it jumped 0.20%. As such, its trade price registered at $161.56. As for the trade volume of the crypto, it went to $5.55 billion, while its market cap reached $17.11 billion.

State of the Top 10 Cryptocurrencies: May 2 

Some digital currencies in the crypto space have jumped, while others plummeted. As for the 10th spot, Cardano has beaten TRON again.

  • Bitcoin’s market price jumped 1.29% to $5,448.60, with a market value of $31 billion.
  • Ethereum’s market price jumped 0.20% to $161.56, and the market value is $17.11 billion.
  • XRP’s market price fell 0.09% to $304721. The crypto’s market value is set at $12.80 billion.
  • Bitcoin Cash jumped in terms of market price at 2.55% to $276.40 in price, and as far as its market value is concerned, it is $4.91 billion.
  • Litecoin’s market price jumped 0.81% to $73.84, and market value topped $4.55 billion.
  • EOS’s market price fell at 0.04% to $4.76, and the confirmed value in the market is $4.49 billion.
  • Binance Coin’s price in the market jumped 0.53% to $22.05, and its value in the market is $3.11 billion.
  • Tether fell 0.22% to $1.00 in terms of market price, and market value is said to at $2.81 billion.
  • Stellar’s market price jumped 0.29% to $101572, and its value in the market is $1.94 billion.
  • Cardano removed TRON from the 10th spot after jumping 0.61%, resulting to a trade price of $0.069038 and a market value of $1.79 billion.

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