Market Update 12.10.18 – December Starts Well for Cryptos
December Starts Well for Cryptos
The first week of the last month of the year has ended well for the cryptocurrency market, with most of the cryptos finally showing green in trading. After a week of hitting new YTD lows, the world’s most valuable cryptocurrency, Bitcoin, finally closed last week closer to the $3.7k mark. Over the weekend, Bitcoin gained more than 7% in its token price and has gained another 1.87% in trading so far today.
Ripple and Ether also showed gains towards the end of the week and over the weekend. However, all the major cryptocurrencies are still down by double digits for the week.
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EURS Stablecoin Submitting to Audits
The Malta-based issuer of stablecoins, Stasis had promised to have get fully audited so that it can prove that its Euro-backed stablecoin EURS is actually backed one-to-one with the Euro.
To this end, the company has hired BDO Malta, the auditing firm to carry out quarterly as well as annual audits of its finances. Due to the fact that the world’s biggest issuer of stablecoins has been the center of controversy about whether it’s cryptos were actually backed stablecoin-to-dollar, investors and traders have been skeptical about stablecoins.
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IBM Partners with ADNOC to Pilot Blockchain Supply Chain
IBM has partnered with the state-backed ADNOC (Abu Dhabi National Oil Company), to pilot a Blockchain based supply chain network. According to the press release that was published on December 9, the state-owned oil company is one of the world’s biggest energy and petrochemical conglomerates that produces 3 million barrels of oil per day as well as about 10.5 cc ft. of natural gas per day.
With this pilot, the company now has a single platform through which the quantities as well as financial values of all bilateral transactions could be tracked.
Find out more about this report here.
Total Market Cap: Dec 10
The capitalization of the cryptocurrency markets has improved since last week, and is now at $112.85 billion. The trading volumes in the crypto market are now at $13.84 billion.
Bitcoin Price Analysis: Dec 10
Bitcoin is now trading at a token price of $3567.36, a 1.87% increase since yesterday. The crypto’s market worth is now $62.12 billion with volumes of trade at $4.93 billion.
Ethereum Price Analysis: Dec 10
Ether’s price since yesterday has gone up by 0.24% to trade at $92.70 per token. The capitalization of the third most valuable cryptocurrency is now $9.61 billion with trading volumes of $1.83 billion.
State of the Top 10 Cryptocurrencies: Dec 10
The cryptocurrency markets top ten digital assets have opened the week with a mixed bag of gains as well as losses. The biggest gainers are EOS, which jumped 8.11%, followed Bitcoin SV, which is up by 2.85%, and Bitcoin, which has gained 1.87% in the last 24 hours.
- Bitcoin’s trading at $3567.36, gaining 1.87%. The market worth of the asset is now $62.12 billion.
- Ripple’s trading at $0.308475, gaining 0.40%. The market worth of the asset is now $12.62 billion.
- Ethereum’s trading at $92.70, gaining 0.24%. The market worth of the asset is now $9.61 billion.
- Stellar’s trading at $0.119810, gaining 0.19% since yesterday. The market worth of the asset is now $2.29 billion.
- Tether’s trading at $1.02, slipping 0.01 % since yesterday. The market worth of the asset is now $1.88 billion.
- Bitcoin Cash’s trading at $106.38, slipping 2.64% since yesterday. The market worth of the asset is now $1.86 billion.
- EOS’s trading at $1.97, gaining 8.11% since yesterday. The market worth of the asset is now $1.78 billion.
- Bitcoin SV’s trading at $98.34, gaining 2.85% since yesterday. The market worth of the asset is now $1.72 billion.
- Litecoin’s trading at $25.20, dropping 1.67% since yesterday. The market worth of the asset is now $1.49 billion.
- TRON’s trading at $0.013366, dropping 1.04% since yesterday. The market worth of the asset is now $885.45 million.