Market Update 7.25.18 – Coinbase Launches Crypto Gift Card Service

| Publish date: 07/25/2018
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Coinbase Launches Crypto Gift Card Service

America’s biggest cryptocurrency exchange Coinbase has launched its crypto gift card service in Europe. The exchange entered into a partnership with WeGift, a London based digital gift card platform. This partnership now allows users to purchase gift cards using cryptocurrencies that are stored in their Coinbase wallets.

At this time, the exchange supports Bitcoin, Bitcoin Cash, Litecoin and Ethereum. More cryptocurrencies are expected to be added to the exchange’s listings soon.

According to the information provided by WeGift, gift cards bought using cryptos will be accepted in more than 120 retailers that accept WeGift’s cards. This includes Tesco, Uber, Carrefour, M&S, Costa and Google Play.

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Tezos Foundation Being Audited by PWC

Controversial Tezos Foundation announced that it was getting international professional services giant – one of the “Big Four” – PricewaterhouseCoopers to audit its finances as well as operations.

Tezos launched its ICO in July 2017, raising a record $232 million in funding, which was the largest amount raised through an ICO at the time. However, after that, the startup was the target of multiple lawsuits. The project also experienced many launch delays, before it was only able to launch its Beta network on June 30, 2018.

Tezos is hoping that getting one of the most prestigious and trusted auditors to assess their business will show their community that the project is looking to operate with the highest degrees of integrity. The startup is also hoping that this step will increase investor as well as user trust in their operations.

Find out more here.

KT Corp. Launches Blockchain Commercial Network

KT Corporation, the largest phone company in South Korea, announced that it has launched its own Blockchain based commercial network. The company stated that it has built a Blockchain layer over its existing nationwide network to that it can more secure as well as transparent.

Seo Young-il, who is leading the KT Blockchain Center, Blockchain technology could be used in the telecoms business to enhance security and transparency of all data being managed. This way, stated KT Corp., their clients will be allowed to store as well as transfer data with much lower hacking risks.

Read the story here.

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Total Market Cap: July 25

Trading volume rose by another $3 billion to its current $20.13 billion since yesterday. The capitalization of the crypto market is also higher at $298.85 billion.

Bitcoin Price Analysis: July 25

BTC is currently trading at $8254.49 per token, another 3.10% hike since yesterday. The asset’s volume in trade is $6.84 billion and its market value is $141.18 billion.

Ethereum Price Analysis: July 25

Ethereum rose 0.14% to $472.52. Trading volume for the digital currency is $2.15 billion and market value for it is $47.57 billion.

State of the Top 10 Cryptocurrencies: July 25

Bitcoin continues to prevail over the cryptocurrency market, with its token price going up by 3.1%. The rest of the top nine cryptocurrencies still gave mixed results. EOS saw the biggest gains so far today, going up 5.82%, followed by IOTA, which gained 3.05%.

  • Bitcoin went up 3.1% to trade at $8254.49. Its market cap is $141.18 billion.
  • Ethereum went up 0.14% to trade at $472.52. Its market cap is $47.57 billion.
  • Ripple went up 0.51% to trade at $0.454651. Its market cap is $17.87 billion.
  • Bitcoin Cash rose 1.04% to trade at $845.52. Its market cap is $14.59 billion.
  • EOS went up 5.82% to trade at $8.54. Its market cap is $7.65 billion.
  • Stellar went up 1.22% to trade at $0.29738. Its market cap is $5.58 billion.
  • Litecoin went down 0.7% to trade at $86.45. Its market cap is $4.97 billion.
  • Cardano went up 0.9% to trade at $0.170379. Its market cap is $4.41 billion.
  • IOTA went up 3.05% to trade at $0.988764. Its market cap is $2.74 billion.
  • Tether went down 0.77% to trade at $0.990653. Its market cap is $2.48 billion.
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