Market Update 5.03.19 – Facebook To Build Planned Stablecoin Ecosystem

| Publish date: 05/03/2019

Market News

Facebook To Build Planned Stablecoin Ecosystem

Facebook is expected to have discussions with a handful of firms, two of which are Visa and Mastercard. The goal is to acquire funds that would support its very own fiat-backed cryptocurrency. The social media giant has been working on this project for quite some time now. Basically, it plans to bring forth a stablecoin-based payments platform.

As for now, the project is being dubbed as “Project Libra,” with a goal of developing a crypto that allows the company’s users to send money to each other. Even more so, it is expected to enable them to make online purchases.

The tech company has already made talks with several e-commerce companies. Pretty much like the aforementioned, it is hoping to gain funds support for its upcoming stablecoin. Also, there is a possibility that the company will pay users in cryptos for simply viewing ads. Lastly, it will give advertisers the ability to process the token for merchandise, among many others.

Read the full report here.

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DAI Stablecoin’s Stability Fee Nearing 20%

Although DAI, the dollar-pegged stablecoin, is trading below one dollar, it is not at a better and more stable position. It originally was from 0.5 percent, but it has now reached 16.5 percent. This means that its Stability Fee has significantly increased, particularly around 33 fold – a milestone it reached over the past three months only.

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This only also means that holders of the MakerDAO have again voted in attempt to increase fees by another 3 percent, bringing it to at least 19.5 percent. Through the use of the aforementioned Stability Free, progress has not only been secure but also made possible.

Read the full report here.

Qtum Users Can Now Deploy Full Blockchain Node

Qtum is basically a project that has initially started as a Bitcoin-blockchain hybrid. Interestingly, according to recent reports, it is now expanding its horizon through the attempt of adding Google’s very own Cloud Platform to its array of software partners.

The offering is pretty straightforward, though. All that is needed is $15 per month virtual machine, something that users can just simply spin up and run consistently on the said platform. The software is designed to give users the ability to both “develop and develop” their own smart contracts.

Read the full report here.

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Total Market Cap: May 3

The trade volume reached $55.99 billion in the past 24 hours. As for the market capitalization, it reached $187.11 billion.

Bitcoin Price Analysis: May 3

Bitcoin is still the world’s number one digital currency, especially after jumping 7.13% and reaching a trade price of $5,840.39. One the other than, the crypto’s its trade volume and market capitalization ended up with $17.88 billion and $103.26 billion, respectively.

Ethereum Price Analysis: May 3

Ethereum follows Bitcoin in the ranks, as it jumped 4.95%, allowing its trade price to acquire $169.60. As far as the crypto’s trade volume is concerned, it went to $7.20 billion, while its market cap reached $17.96 billion.

State of the Top 10 Cryptocurrencies: May 3

All cryptos in the space have jumped in the past 24 hours. Meanwhile, the 10th spot features Cardano once again.

  • Bitcoin’s market price jumped 7.13% to $5,840.39, with a market value of $26 billion.
  • Ethereum’s market price jumped 4.95% to $169.60, and the market value is $17.96 billion.
  • XRP’s market price jumped 2.24% to $311516. The crypto’s market value is set at $13.09 billion.
  • Bitcoin Cash jumped in terms of market price at 6.34% to $294.97 in price, and as far as its market value is concerned, it is $5.24 billion.
  • Litecoin’s market price jumped 7.85% to $79.82, and market value topped $4.92 billion.
  • EOS’s market price jumped at 7.87% to $5.14, and the confirmed value in the market is $4.86 billion.
  • Binance Coin’s price in the market jumped 7.66% to $23.78, and its value in the market is $3.36 billion.
  • Tether jumped 0.48% to $1.01 in terms of market price, and market value is said to at $2.80 billion.
  • Stellar’s market price jumped 1.47% to $103147, and its value in the market is $1.97 billion.
  • Cardano removed TRON from the 10th spot after jumping 3.57%, resulting to a trade price of $0.071583 and a market value of $1.86 billion.

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