Market Update 1.27.18 – Critic Says Crypto ‘No Better’ Than Excel

| Publish date: 01/27/2019
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Critic Says Crypto ‘No Better’ Than Excel

Nouriel Roubini is known to be a notorious cryptocurrency critic. Recently, he released a statement suggesting that the blockchain technology is “no better” than the titular Excel spreadsheet. He gave this comparison during a panel specifically hosted by LaToken, which is a crypto exchange.

Roubini is also titular for being able to predict the infamous financial crisis that hit 2008. This, in particular, gave him the moniker that is Dr. Doom. He spoke during a panel, which was basically the Blockchain Economic Forum, that was held in Davos, Roubini said that blockchain is the “most overhyped” when compared to all technologies. He even noted that Bitcoin, as well as other digital currencies, is merely the mother of all bubbles.

Read the full report here.

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Italy Sets Legal Foundation For Blockchain Timestamps

The Italian government is expected to amend regulations that would soon allow legalized blockchai timestamping. At the same time, this decision would enable the validation of digital documents. The country’s senate, which is called the Senato della Republica, released a proposal that suggests the inclusion of distributed ledger technology.

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Apart from the aforementioned, the proposal aims to add smart contract-related terms directly to the Senate No. 989. The latter, in particular, was passed by the country’s government sometime in December last year. Interestingly, this all included vast definitions pertaining to blockchain and smart contracts.

Read the full report here.

Morgan Creek Digital Backs Tokenized Real-Estate

Morgan Creek Digital is known to be an institutional digital assets manager. Recently, it decided to back a tokenized real-estate company called RealBlocks. The figure in question reportedly reached $3.1 million.

The announcement was made last week. During that time, the firm said that the funding round was spearheaded by an investment firm known as Science Inc. There are also other investors, such as Cross Culture Ventures and Zelkova Ventures, just to name a few.

Read the full report here.

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Total Market Cap: January 27

The cryptocurrency market’s trade volume grabbed a figure of around $15.08 billion. But when putting into perspective its market’s capitalization, it reached a figure $119.82 billion.

Bitcoin Price Analysis: January 27

The world’s leading cryptocurrency called Bitcoin got a trade fall of 1.28% and a price of $3,596.55. As for the digital currency’s trade volume journey, it embarked a path at $5.00 billion. But when talking about the market hit, it managed to grab a figure of $62.95 billion.

XRP Price Analysis: January 27

In the past 24 hours, XRP’s price had a fall in its trade to 1.63% and, thus, trade at around $0.313003. Going for the altcoin’s trade volume, it was playing at $330.06 million and its capitalization at $12.88 billion.

State of the Top 10 Cryptocurrencies: January 27

For the past 24 hours, all prices of the 10 deemed top digital currencies – except for TRON’s – managed to go down. Meanwhile, Bitcoin SV continues to take the 10th place away from the cryptocurrency called Cardano.

  • Bitcoin’s market price was successful in jumping to 1.28% leading to a market price of $3,596.55. In addition, the market value featured an enticing figure of $62.95 billion.
  • XRP’s market price was able to obtain a price of $0.313003 after falling to a percentage of 1.63%. Unfortunately for the altcoin, it was unsuccessful in its market value, which is $12.88 billion only.
  • Ethereum’s market price fell to about 1.51%, giving its price a slight boost to $115.95. Meanwhile, its value in the market only reached $12.13 billion.
  • EOS’ market price was unsuccessful in jumping, thus it fell 1.34%, leading to a figure of $2.43. As far as the crypto’s market value is concerned, it sat at about $2.21 billion.
  • Bitcoin Cash’s showed a market price figure of $124.94 billion hitting a percentage fall of 3.09%. As for its market value, the altcoin registered at $2.20 billion.
  • Tether followed the list after experiencing a price fall of 0.35% to $1.01. But as for its value in the market, it only managed to hit a figure of $2.03 billion.
  • TRON is without a doubt the only exception. This is particularly the case after it plunged to a price mark of $0.030454, with a substantial trade jump of 12.54%. Moreover, its market value grew to about $2.03 billion.
  • Litecoin’s also saw a significant market price fall of about 2.36%, helping it reach a price range of $32.98 and a market value of around $1.99 billion.
  • Stellar’s market price plummeted to 4.02%, helping it reach a price of $0.099802 and a market value of about $1.91 billion.
  • Bitcoin SV has once again claimed the 10th spot, stealing it from Cardano. This was the case after even after a trade fall of 2.56% to $73.23. As for the atlcoin’s market value, it was able to hit a figure of $1.29.
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