Market Update 3.09.18 – Wealth Manager in NY to Issue Loans against Bitcoin
Market News
Wealth Manager in NY to Issue Loans against Bitcoin
A new subsidiary is being started by Dominion Capital in New York City that will offer loans against Bitcoin. The company has for a long time invested in multiple types of assets, however, its specialty has been to provide loan backing to financial projects.
The company has been quietly associated with cryptocurrencies for a long time now, however this is the first time that Dominion will expand its services into this sector.
To read the full story, click here.
Bitcoin’s 20% Drop was not this Week’s Biggest Loss
Since the beginning of 2018, cryptocurrencies, Bitcoin in particular, have been struggling to beat the price resistance that has gripped the crypto market. The Bitcoin has dropped back to below the $10,000 mark, trading at $8,371 at its lowest on Friday.
However, the biggest loser was not Bitcoin. It was Bitcoin Cash, which dropped more than 28% this week. Other cryptos that lost more than Bitcoin included TRON, ICON and IOTA. To read more, click here.
Devices at Telecom Egypt Demarcation Points Covertly Redirection Users to Crypto Ads and Site
According to a report published by Citizen Lab at the University of Toronto on Friday, devices were found at Egypt Telecom demarcation points that were covertly redirecting the country’s internet users to crypto mining sites as well as crypto ads.
The method, known as Adhose, uses computer networking devices called middleboxes to manipulate internet traffic.
To read more of this story, click here.
Total Market Cap: Mar 09
Cryptocurrency trading volume continues to remain low at $18.95 billion for the last one day. Market Cap for cryptos also stayed lower in the last 24 hours at $347.52 billion.
Bitcoin Price Analysis: Mar 09
Bitcoin continued its downward slide, losing another 11.43% to trade at $8,746.82 during the last 24 hours. Trading volume for Bitcoin has been low at $8.06 billion in trading. The crypto’s market value has also dropped to $147.71 billion.
Ethereum Price Analysis: Mar 09
Ethereum has also continued to fall with the rest of the market and is currently trading at $672.20, a big drop of 10.21% in the last 24 hours. Trading volume is at a low of $2.11 billion and the altcoins market value has also dropped to $65.86 billion.
State of the Top 10 Cryptocurrencies: Mar 09
**The information provided here is the data for the top 10 cryptos in terms of market cap for the time between March 8 and March 9:
- Bitcoin trading price now is $8,746.82, having lost 11.43% and now has a market value of $147.71 billion.
- Ethereum trading price now is $672.20, having lost 10.21%, and now has a market value of $65.86 billion.
- Ripple trading price now is $0.77, having lost 10.46%, and now has a market value of $30.34 billion.
- Bitcoin Cash trading price now is $960.41, having lost 12.82% and now has a market value of $16.33 billion.
- Litecoin trading price now is $165.54, having lost 9.62%, and now has a market value of $9.19 billion.
- NEO trading price now is $83.38, having lost 14.63%, and now has a market value of $5.41 billion.
- Stellar moved up one place and its trading price now is $0.284612, having lost 1052%, and now has a market value of $5.26 billion.
- Cardano trading price now is $0.198560, having lost 15.03%, and now has a market value of $5.14 billion.
- Monero trading price now is $257.83, having lost 17.57%, and now has a market value of $4.07 billion.
- EOS trading price now is $5.61, having lost 13.02%, and now has a market value of $4.02 billion.