Market Update 3.18.18 – RBC Files Patent for Credit Score Platform
Market News
RBC Files Patent for Credit Score Platform Using Blockchain
The US Patent and Trademark Office released a patent application on March 15, which revealed that the Royal Bank of Canada, which is the country’s biggest bank, has applied for a patent to develop a credit score protocol employing blockchain tech.
According to the application, the current method of calculating credit scores are not at all transparent. Customers aren’t always informed when their scores are affected by certain types of data. Customers also don’t have any tools available to them to take control of their own credit scores.
With the proposed blockchain, this would all change. To find out more, click here.
France to Legalize ICOs
In a complete turnaround of policy, the AMF, the French financial regulatory body, is purportedly introducing new laws on Initial Coin Offerings (ICOs) which is meant to foster the development of a new kind of fundraising.
The Ministry for the Economy and Finance confirmed that the regulations proposed by the AMF would be recognized and ICOs would become legitimate methods of investment.
To read the full story, click here.
Coincheck Stops Handling Anonymous Cryptos
Japanese cryptocurrency exchange, Coincheck, which suffered a massive hack-attack in January, during which the exchange lost $534 million worth of NEM tokens, has announced that it will no longer deal in anonymity focused cryptocurrencies.
Cryptos such as Monero, Dash and Zcash focus on anonymity and so Coincheck will no longer be handling trades for these digital currencies. According to the Japan Times, the exchange’s decision to stop trading in such cryptocurrencies was actually in response to the Financial Services Agency’s (FSA) improvement notice.
To learn more, click here.
Total Market Cap: Mar 18
The cryptocurrency market just can’t seem to get a break as its trading volume inched up a tiny amount in the last one day to $12.54 billion. The digital currency’s market capitalization has dropped by more than 10% to $295.83 billion.
Bitcoin Price Analysis: Mar 18
The little bit of a gain that Bitcoin has gotten yesterday was lost as the number one cryptocurrency dropped again by another 6.05% to a price of $7,778.27. The cryptocurrency’s trading volume went up just a little, with about $4.92 billion worth of tokens exchanged. However, the value of the currency has dropped to $131.86 billion.
Ethereum Price Analysis: Mar 18
Ethereum has also been following a downward trajectory with the cryptocurrency dropping by a big 14.58% to a current trading price of $514.63. Ethereum is currently trading at a volume of $1.63 billion. Market capitalization for the altcoin is $50.50 billion at this time.
State of the Top 10 Cryptocurrencies: Mar 18
Given below are the top 10 cryptocurrencies’ market performances in the last one day. This includes their current market price, movement as well as market value.
- Bitcoin’s trading price is right now $7,778.27, falling down by 6.05%. The cryptocurrency’s value at this time is $131.86 billion.
- Ethereum’s trading price is right now $514.63, falling down by 14.58%. The cryptocurrency’s value at this time is $50.50 billion.
- Ripple’s trading price is right now $0.60, falling down by 11.76%. The cryptocurrency’s value at this time is $23.75 billion.
- Bitcoin Cash’s trading price is right now $908.73, falling down by 10.83%. The cryptocurrency’s value at this time is $15.47 billion.
- Litecoin’s trading price is right now $146.83, falling down by 9.37%. The cryptocurrency’s value at this time is $8.17 billion.
- NEO replaced Cardano at 6th place and its trading price is right now $57.78, falling down by 15.94%. The cryptocurrency’s value at this time is $3.75 billion.
- Cardano’s trading price is right now $0.140358, falling down by 19.49%. The cryptocurrency’s value at this time is $3.63 billion.
- IOTA jumped into 8th position, going up by 2.75% to trade at $1.12. The cryptocurrency’s value at this time is $3.30 billion.
- Stellar’s trading price is right now $0.177419, falling down by 22.56%. The cryptocurrency’s value at this time is $3.28 billion.
- EOS’s trading price is right now $4.34, falling down by 14.22%. The cryptocurrency’s value at this time is $3.19 billion.