Market Update 5.12.19 – Ethereum Foundation Reveals Donation Plan

| Publish date: 05/12/2019
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Ethereum Foundation Reveals Donation Plan

The Ethereum Foundation has revealed its plans on how to spend its $30 million resources. Apparently, it will be used on its ecosystem development, which will reportedly cover the next 12 months. Aya Miyaguchi, the executive director of the foundation, announced the plan during the ConsenSys-organized Ethereal Summit.

The event, in particular, took place in Brooklyn. It is worth noting that, over the past year, the Ethereum Foundation reportedly spent at least $27 million on its grants program. This program is meant to support critical projects across the aforementioned ecosystem. Miyaguchi also highlighted four areas that the foundation is completely interested.

Read the full report here.

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NY Assemblyman Says Blockchain Needs Lobbying

Clyde Vanel, the New York State Assemblyman, claimed that the entire blockchain industry must become better when it comes to lobbying for itself. Even more so, he believes that it needs to start educating regulators. Vanel expressed his opinions during the recently held Ethereal Summit of ConsenSys.

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The aforementioned assemblyman further explained that all digital currency- and blockchain-based businesses need to be better in advertising their own accomplishments. More importantly, they must be able to explain their true value to the public. Vanel further said that within the promising industry, bad actors tend to get all the attention from the press. And as far as projects with real value to offer are concerned, they are either overlooked or taken for granted.

Referring to blockchain, Vanel explained the significance and need for educating the entire community. The same thing can be said for lawmakers, industry players, and decision-makers, among many others. He believes that the industry has the responsibility to jumpstart the facilitation and development of relevant rules and regulations, especially when they arrived at a government level.

Read the full report here.

Terpin Gets Award In SIM Swapping Case

Michael Terpin, the U.S. blockchain and crypto investor, has reportedly taken home around $75.8 million after winning the legal battle against the Nicholas Truglia. The latter is the 21-year-old individually who defrauded him of digital currencies.

The California Superior Court revealed its decision to order the Manhattan resident to pay aforementioned figures, which are meant for compensatory and punitive damages. Interestingly, the figure is said to be the one of the largest court judgments ever awarded to a person in the cryptocurrency space thus far.

Read the full report here.

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Total Market Cap: May 5

The trade volume reached $82.82 billion in the past 24 hours. As for the market capitalization, it reached $211.20 billion.

Bitcoin Price Analysis: May 5

Bitcoin remains to be the world’s leading cryptocurrency after jumping 7.97% and reached a trade price of $6,905.80. The digital currency’s trade volume and market capitalization had reached $25.85 billion and $122.20 billion, respectively.

Ethereum Price Analysis: May 5

Ethereum also experienced a jump, which is 11.38, and obtained a trade price of $194.51. When talking about ETH’s trade volume, it went to $11.60 billion. When talking about the crypto’s market capitalization, it went to $20.62 billion.

State of the Top 10 Cryptocurrencies: May 5

All cryptos in the rankings have experienced a substantial jump. Meanwhile, Cardano is still holding the 10th spot, preventing TRON from entering the rankings.

  • Bitcoin’s price in the market jumped 7.97% to $6,905.80, with a market value of $20 billion.
  • Ethereum’s market price jumped38% to $194.51, and the market value is $20.62 billion.
  • XRP’s market price jumped39% to $0.323396. The crypto’s market value is set at $13.63 billion.
  • Bitcoin Cash jumped in terms of market price at 14.26% to $330.32 in price, and as far as its market value is concerned, it is $5.87 billion.
  • Litecoin’s market price jumped95% to $88.57, and market value topped $5.47 billion.
  • EOS’s market price jumped at 13.31% to $5.49, and the confirmed value in the market is $5.00 billion.
  • Binance Coin’s price in the market jumped31% to $21.34, and its value in the market is $3.01 billion.
  • Tether jumped03% to $1.00 in terms of market price, and market value is said to at $2.78 billion.
  • Stellar’s market price jumped54% to $0.101061, and its value in the market is $1.94 billion.
  • Cardano removed TRON from the 10th spot after jumping 17.45%, resulting to a trade price of $0.73816 and a market value of $1.91 billion.
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