Market Update 3.13.18 – Third Largest Electricity Provider Testing Bitcoin

| Publish date: 03/13/2018 (Last updated: March 21, 2018 05:39 PM)
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Third Largest Electricity Provider Testing Bitcoin Payment Tech

In an exclusive interview with CoinDesk, Japan’s third-largest electricity provider, Chubu Electric Power Co. revealed that it going to be one of the first big companies across the globe to try out a new bitcoin payments technology.

The company has entered into a proof-of-concept with the company called Nayuta, a local Internet-of-Things (IoT) and Bitcoin startup, to see how payments can be made with Bitcoin using the new Lightening Network.

The full story is here.

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India: Ex-Government Official – Cryptos Should Not Be Allowed At All

The former Indian Secretary of Economic Affairs and current member of the 15th Finance Commission, Shaktikanta Das, in an interview with Quartz India, stated that cryptocurrencies should just be banned completely in India since it was impossible to regulate them properly.

Das had been a member of the team made up of officers from the Securities and Exchange Board of India and Reserve Bank of India (RBI) to develop regulations on cryptocurrencies. Das said that the RBI was the only authority in India that could legally issue currencies, hence, cryptos were illegal.

Find out more here

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Goldman Sachs Say Bitcoin Could Drop to a Low of $5,922

The Goldman Sachs’ team for technical analysis predicted that the world’s number one cryptocurrency could sink beyond its February low. The sent a note to its clients, warning them that Bitcoin was expected to drop even beyond February’s low of $5,922.

The team, led by Sheba Jafari who is heading technical strategy at Goldman Sachs, is known for being negative about Bitcoin. Last year, she made a number of predictions about Bitcoin’s performance in the market. Read more here.

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Total Market Cap: Mar 12

Trading in the last 24 hours has been slow, with a volume of a $15.85 billion. Market capitalization went down slightly to $378.41 billion for its lows over the weekend.

Bitcoin Price Analysis: Mar 13

Bitcoin’s price dropped again today by 1.98% and now has a price of $9,412.24. Trading volume is at 6.75 billion and the digital currency’s market capitalization is currently at $159.55 billion.

Ethereum Price Analysis: Mar 13

Ethereum’s price also dropped today by 2.29% and is current priced at $711.04.  The crypto’s trade volume was at $1.79 billion. Ethereum’s market value has inched up to $69.79 billion.

State of the Top 10 Cryptocurrencies: Mar 13

Here is the performance in the last 24 hours of the world’s 10 most valuable cryptocurrencies in terms of market capitalization.

  • Bitcoin has a per-token price of $9,412.24, having gone down by 1.98%. The digital currency’s market value is now $159.55 billion.
  • Ethereum has a per-token price of $711.04, going down by 2.29%. The digital currency’s market value is now $69.79 billion.
  • Ripple has a per-token price of $0.79, going down by 3.65%. The digital currency’s market value is now $30.96 billion.
  • Bitcoin Cash has a per-token price of $1,034.06, going down by 7.52%. The digital currency’s market value is now $17.59 billion.
  • Litecoin has a per-token price of $176.99, going down by 5.82%. The digital currency’s market value is now $9.84 billion.
  • Cardano’s gone up one place and has a per-token price of $0.225686, going up by 1.18%. The digital currency’s market value is now $5.85 billion.
  • NEO has a per-token price of $85.16, going down by 7.35%. The digital currency’s market value is now $5.53 billion.
  • Stellar has a per-token price of $0.294349, going down by 2.62%. The digital currency’s market value is now $5.5.44 billion.
  • EOS has gone up one place and has a per-token price of $5.82, going down by 4.59%. The digital currency’s market value is now $4.21 billion.
  • Monero’s moved up one place and it has a per-token price of $260.25, going down by 7.47%. The digital currency’s market value is now $4.11 billion.
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