Market Update 7.27.18 – Galaxy Digital Loses $134 Million in Q1
Market News
Galaxy Digital Loses $134 Million in Q1
Cryptocurrency merchant bank Galaxy Digital reported its first quarter for this year. Mike Novogratz’s firm posted a $134 million loss in this time. The company cited a slumping cryptocurrency market as the reason for its poor performance.
Galaxy Digital posted a loss of $13.5 million for its trading business. It also posted unrealized losses to the tune of $85.5 on digital assets, paper losses on investments worth $1.1 million as well as another $22.9 million in paper losses on investments in Galaxy Digital’s main business.
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Accenture May Use Blockchain to Streamline Logistics
According to a document published by the US Patent and Trademark Office, Accenture, the professional consulting behemoth, is considering using Blockchain to streamline as well as automate its shipping logistics.
This proposed system would be able to identify attributes about objects being shipped and then store that data on a Blockchain. These object would then be tracked during shipping by using the data the system identified and stored on the Blockchain.
Read the rest of the report here.
Telangana Signing MoUs with Blockchain Companies
According to IT Secretary for the south Indian state of Telangana, Jayesh Rajan, MoUs (Memoranda of Understanding) are being signed with multiple Blockchain companies to implement the technology in six or seven of the state government’s applications.
According to Rajan, this step is targeting bringing more efficiency as well as transparency to public services that are being provided by Telangana. However, at this time, the IT Secretary did not specify which segments of public services would see these changes.
Find out more about this news report here.
Total Market Cap: July 27
The one week surge of the cryptocurrency market seems to be over as the performance of the market begins to slide once again. Trading volume has dropped for another day to $14.76 billion. And, the crypto market’s valuation has dropped once more below the $300k mark to $290.72 billion.
Bitcoin Price Analysis: July 27
BTC slipped 3.33% and dropped below $8K to trade at its current price of $7938.23 per token in the last 24 hours. Trading volume in the asset also slipped to $4.99 billion and its market cap is $136.09 billion.
Ethereum Price Analysis: July 27
Ethereum lost 3.42% to see the price of its token fall to $464.36. The world’s most valuable altcoin saw a drop in its trading volume also to $1.66 billion and its valuation in the market is $46.84 billion.
State of the Top 10 Cryptocurrencies: July 27
The cryptocurrency market has not been able to sustain its gains from last week. Eight of the top ten cryptocurrencies saw losses, with Bitcoin once again falling below the $8k mark. IOTA and Tether were the only ones that saw sight gains. IOTA is up 0.99% and Tether inched up 0.58%.
- Bitcoin dropped 3.33% to trade at a price of $7938.23 and the digital coin’s valuation is $136.09 billion.
- Ethereum dropped 3.42% to trade at a price of $464.36 and the digital coin’s valuation is $46.84 billion.
- Ripple dropped 3.04% to trade at a price of $0.449807 and the digital coin’s valuation is $17.68 billion.
- Bitcoin Cash dropped 5.12% to trade at a price of $801.56 and the digital coin’s valuation is $13.83 billion.
- EOS dropped 5.72% to trade at a price of $8.23 and the digital coin’s valuation is $7.37 billion.
- Stellar dropped 10.54% to trade at a price of $0.305793 and the digital coin’s valuation is $5.73 billion.
- Litecoin dropped 4.01% to trade at a price of $83.50 and the digital coin’s valuation is $4.80 billion.
- Cardano dropped 6.22% to trade at a price of $0.162419 and the digital coin’s valuation is $4.21 billion.
- IOTA gained 0.99% to trade at a price of $1.02 and the digital coin’s valuation is $2.82 billion.
- Tether gained 0.58% to trade at a price of $0.998202 and the digital coin’s valuation is $2.5 billion.