Market Update 3.17.19 – Giant Ping An New Partner Revealed

| Publish date: 03/17/2019

Market News

Giant Ping An New Partner Revealed

The Chinese Insurance giant called Ping An has reportedly partnered with SingularityNET. The latter basically an Ethereum-based decentralized artificial intelligence company. The startup revealed the alliance via a press release.

The collaboration is expected to solely focus on Optical Character Recognition or OCR, but it would soon introduce Computer Vision (CV) and even model training. SingularityNET said that the scope of its partnership with Ping An is going to branch out to a variety of industries and initiatives in the near future.

The announcement from SingularityNET surfaced after it launched a beta version of its ETH-powered decentralized marketplace. In January of last year, the startup revealed another partnership with Hara, which is also a blockchain startup but with a focus on agriculture.

Read the full report here.

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ETH Co-Founder On Blockchain’s Economy

For Joseph Lubin, the Ethereum co-founder, the blockchain is going to have a global economy that will be at least 10 times larger in 10 to 20 years. He said that this will be possible as soon as the technology becomes fully ramified. The statement made by the executive was during the SXSW conference held in Austin on March 14 this year.

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During the event, Lubin also claimed that the number of “normal” people utilizing blockchain-bases systems is low. But this is not something to be worried about. Besides, “normal” people before did not find the need to fire email back then, but this is definitely not the case today.

The co-founder further detailed that the promises that Ethereum 2.0 brings. He said that Bitcoin comes with a lot of inefficiencies right now. But when it comes to the said version of Ethereum, these will not be the case.

Read the full report here.

Blockchain, Crypto Firms Protest Nevada Bill

Representatives from industries relating to blockchain and cryptocurreny are protesting a certain bill in the Nevada State Senate. The bill is called SB 195 and is going to introduce a handful of uniform standards specifically designed for the virtual currency space.

The bill would reportedly require crypt-related firms like exchanges to register with the Department of Business and Industry of the state. The bill, which is sponsored by Democratic senator named James Ohrenschall, is courtesy of the Uniform Law Commission in an attempt to provide consistent regulations for the crypto space in the state.

Read the full report here.

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Total Market Cap: March 17

The crypto space’s volume of trade has acquired $27.37 billion. Its market capitalization, on the other hand, sat at $139.36 billion.

Bitcoin Price Analysis: March 17

Bitcoin is definitely the world’s most popular digital currency despite falling 0.95% in the last 24 hours. Apparently, the fall led to a price of $4,022.03. As for the crypto’s trade volume, it reached $8.51 billion; whereas its market value obtained $70.76 billion.

Ethereum Price Analysis: March 17

Ethereum also experience a fall, which resulted in 2.11% and a trade of about $140.38. Its trade volume and market value reached $3.92 billion and $14.79 billion, respectively.

State of the Top 10 Cryptocurrencies: March 17

Almost all of the top 10 crypto prices fell except for Binance Coin’s. After dethroning Cardano, TRON was able to keep the 10th spot to itself.

  • Bitcoin’s market price fell 0.95% to $4,002.03, and its value in the market is $76 billion.
  • Ethereum’s market price fell 2.11% to $140.38, and its value in the market is $14.79 billion.
  • XRP’s market price fell 0.98% to $318214, and its value in the market is $13.18 billion.
  • Litecoin’s market price fell 0.94% to $61.22, and its value in the market is $3.73 billion.
  • EOS’s market price fell 1.29% to $3.79, and its value in the market is $3.43 billion.
  • Bitcoin Cash’s also fell in its market price at 3.68% to receive $151.61, and its value in the market is 2.68 billion.
  • Binance Coin’s price in the market managed to bloom to 2.06% to $15.89, and its value in the market is $2.24 billion.
  • Stellar’s market price fell 1.35% to $108952, and its value in the market is $2.09 billion.
  • Tether’s market price fell 0.11% to $1.01, and its value in the market is $2.012 billion.
  • TRON took the 10th spot from Cardano, but it fell 1.46% and, thus, traded at $0.023230 and a market value of $1.55 billion.

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