Market Update 6.29.18 – General Electric Looking at Blockchain
Market News
General Electric Looking at Blockchain
Industrial conglomerate General Electric is contemplating incorporating Blockchain technology to verify the authenticity of 3D-printed parts being used in its supply chain.
The industrial giant recently filed a patent application with the US Patent and Trademark Office (USPTO) which describes a way to integrate Blockchain technology into additive manufacturing (popularly known as 3D printing), so that a database can be created which will verify as well as validate the entire manufacturing process.
This way, the company will be able to track and authenticate 3D-printed objects.
Find out more about the story here.
Blockchain.com Launches Institutional Platform
According to its blog post, Blockchain.com, the UK based cryptocurrency wallet as well as data supplier, has launched Blockchain Principal Strategies (BPS) – a comprehensive institutional platform which is to provide “unparalleled” and secure access to services and markets. The platform will also provide research to family businesses, institutions as well as retail investors.
This new platform will offer its customers a range of tools to work with, such as over-the-counter trading, an Order Management System that is smart, risk metrics, a custom portfolio view and even access to the research team at the firm. The over-the-counter services will be managed by a team of trading experts from Goldman Sachs, UBS and JP Morgan Chase & Co.
Read the rest of the story here.
Coinbase Opening New Office in Portland
America’s largest cryptocurrency exchange and wallet services provider, Coinbase announced that it was opening a new office in Portland, Oregon. According to the announcement in the company’s official blog, while they looked at a number of locations, the decision to open its next office in Portland was due to the wealth of talent in Blockchain communities in the region.
The company stated that it had signed a 7-year contract for its new office in the city of Portland, and through this new office will add generate another 100 jobs for the city’s economy this year.
Read more here.
Total Market Cap: June 29
Trading volume inched up slightly in the last 24 hours to $11.97 billion, while the capitalization of the crypto market still stayed low at $236.37 billion.
Bitcoin Price Analysis: June 29
The Bitcoin price fell 3.14% to $5936.78 per token. The volume of trade for BTC has gone up to $3.72 billion but its market cap has dropped to $101.41 billion.
Ethereum Price Analysis: June 29
Since yesterday, the price of Ethereum has dropped by 4.23% to $417.66. Trading volume in ETH is $1.49 billion and its market value is $41.82 billion.
State of the Top 10 Cryptocurrencies: June 28
9 of the top 10 cryptocurrencies saw price drops in the last 24 hours. Tether was the only cryptocurrency that show minute gains – the US Dollar backed stable coin was up by 0.13% in trading today. The worst drop was experienced by EOS, whose price fell by 7.07%. Litecoin, Stellar, Cardano and Bitcoin Cash all saw more than 6% drops in their token prices.
- Bitcoin’s price dropped 3.14% trading at $5936.78. The capitalization of the asset is now $101.41 billion.
- Ethereum’s price dropped 4.23% trading at $417.66. The capitalization of the asset is now $41.82 billion.
- Ripple’s price dropped 3.93% trading at $0.441971. The capitalization of the asset is now $17.35 billion.
- Bitcoin Cash’s price dropped 6.08% trading at $662.87. The capitalization of the asset is now $11.40 billion.
- EOS’s price dropped 7.07% trading at $7.35. The capitalization of the asset is now $6.58 billion.
- Litecoin’s price dropped 6.43% trading at $74.02. The capitalization of the asset is now $4.23 billion.
- Stellar’s price dropped 6.15% trading at $0.178613. The capitalization of the asset is now $3.35 billion.
- Cardano’s price dropped 6.77% trading at $0.116970. The capitalization of the asset is now $3.03 billion.
- Tether’s price gained 0.13% trading at $0.998875. The capitalization of the asset is now $2.70 billion.
- IOTA’s price dropped 5.02% trading at $0.924420. The capitalization of the asset is now $2.56 billion.