Market Update 7.09.18 – Cryptos No Threat to Traditional Markets
Market News
BOK: Cryptos No Threat to Traditional Markets
According to the Bank of Korea (BOK), South Korea’s central bank, cryptocurrency markets do not pose a threat to traditional markets. The bank made this statement based on the data received from domestic banks in the country. According to the data, the outstanding balance of cryptocurrencies in banking accounts amounted to 2 trillion won (~$1.79 billion). However, this figure is just 8% of the total balances operated by the country’s domestic banks, which total 26 trillion won (~$23.27 billion).
The report stated that the sum of crypto-asset investments wasn’t all that large in comparison to other equity markets, thus the exposure of local financial institutions to possible risks of the cryptocurrency market is insignificant.
Find out more here.
Walmart Files Delivery Focused Patent
According to the latest news, Walmart has filed another delivery-focused patent called Delivery Reservation Apparatus and Method. This new patent describes a way in which package reservations can be managed in the event that the purchaser is not available to receive it.
This patent is the latest in a list of patents the retail giant has already filed with the US patents office in the last year in relation to its logistics function. So far, it seems like the company is looking at using Blockchain based technology to automate its entire delivery logistics process.
Read the rest of the story here.
Blockgeeks’ Ameer Rosic Believes in Crypto Adoption
In an interview with Cointelegraph, entrepreneur and founder of Blockgeeks, an online Blockchain hub, Ameer Rosic justifies why he believes that cryptocurrency adoption is important, and what it would take to induce mass adoption of the underlying technology.
According to Rosic, there are actually three different world’s operating in the crypto sphere – the original cypherpunks, who are focused on truly decentralized tech, the Ethereum crowd (who are still cypherpunks but are still willing to experiment) and then the rest of the populations that operates ICOs.
Find out the details of the interview here.
Total Market Cap: July 09
After a weekend of gains, the cryptocurrency market is showing a slight drop in performance in trading so far this Monday. The volume of trading in the cryptocurrency market has dropped to $10.75 billion and the capitalization of the segment is now up at $273.13 billion.
Bitcoin Price Analysis: July 09
Bitcoin’s price dropped by 1.11% since yesterday to $6757.66 per token.
Trading volume in BTC is currently $3.30 billion and its value is now $115.93 billion.
Ethereum Price Analysis: July 09
The price of ETH slipped by 2.15% to $482.96 per token. The virtual asset’s volume of trade dropped to $1.28 billion, however, its market value is currently at $48.60 billion.
State of the Top 10 Cryptocurrencies: July 09
After showing gains over the weekend, the top ten cryptocurrencies in the world by market capitalization slipped in token prices during the trading so far today. Bitcoin is down by 1.11%, however, the biggest losers so far for the day are EOS, which fell by 5.08%, IOTA, which lost 4.42% and Litecoin, which also lost 4.01% in trading.
- Bitcoin slipped by 1.11%, trading at $6757.66. The asset’s market value is $115.93 billion.
- Ethereum slipped by 2.15%, trading at $482.96. The asset’s market value is $48.60 billion.
- Ripple slipped by 2.53%, trading at $0.475822. The asset’s market value is $18.70 billion.
- Bitcoin Cash slipped by 2.81%, trading at $749.36. The asset’s market value is $12.90 billion.
- EOS slipped by 5.08%, trading at $8.59. The asset’s market value is $7.71 billion.
- Litecoin slipped by 4.01%, trading at $81.77. The asset’s market value is $4.70 billion.
- Stellar slipped by 0.22%, trading at $0.208776. The asset’s market value is $3.92 billion.
- Cardano slipped by 4.37%, trading at $0.143360. The asset’s market value is $3.72 billion.
- IOTA slipped by 4.42%, trading at $1.08. The asset’s market value is $2.99 billion.
- Tether slipped by 0.99%, trading at $1. The asset’s market value is $2.61 billion.