Market Update 2.12.19 – IBM Releases Blockchain Main Net in Melbourne

| Publish date: 02/12/2019

Market News

IBM Releases Blockchain Main Net in Melbourne

According to news reports, technology giant IBM’s Blockchain main net has been released out of the company’s data center in Melbourne in Australia.  With this release, customers will be able to run their apps on IBM’s cloud. This new platform has been built on the Hyperledger fabric, which is hosted by the Linux foundation.

A new IBM data center is scheduled to open in Sydney by the end of March, adding to the list of centers already open in Tokyo, Dallas, Toronto, London and Sao Paulo. According to the head of IBM’s Australia and New Zealand Blockchain division Rupert Colchester stated that a second data center would make the new technology more widely available.

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GM Financial Teaming up with Spring Labs

The financing division of auto giant GM, General Motors Financial announced that it was teaming up Spring Labs, a Blockchain-based startup, to develop solutions for identity verification.

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Spring Labs, on its part, stated that GM was looking at getting a stake in the startup, besides other use cases. GM, however, declined to comment on whether this claim was true or not. The Co-founder and Chief Executive Officer of Spring Labs Adam Jiwan stated that their company was actively looking at developing Auto Finance as well as use cases tailored for GM.

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BTC Transaction Fees Drop to 2014 Levels

According to crypto and Blockchain research and analytics firm Diar, BTC (Bitcoin) transaction fees have fallen to new lows and have now decreased to 2014 levels. In 2017, transaction fees for the crypto skyrocketed, before slowly beginning to decline from the beginning of 2018. Finally, now, a year later, BTC’s transaction fees have dropped to their lowest since 2014.

The research firm also stated that median fees had also fallen to levels not seen since 2015. Diar said that this was the case despite the total per month Bitcoins moved on-chain were at levels higher than seen throughout last year.

Read more here.

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Total Market Cap: Feb 12

The gentle slide downwards continues for the cryptocurrency market, with capitalization dropping to $120.35 billion in the last 24 hours. Trade volumes in the market are now $19.98 billion.

Bitcoin Price Analysis: Feb 12

Bitcoin’s downward slide also has started once again, with the crypto down by 0.84% to $3626.20. Bitcoin’s worth in the cryptocurrency market is now $63.58 billion and the token’s trade volumes stand at $6.23 billion.

Ethereum Price Analysis: Feb 12

The Ethereum token’s price is now 120.73, which is a 0.21% decline since yesterday. The most valuable altcoin in the world now has a capitalization of $12.65 billion and trade volumes are $3.08 billion.

State of the Top 10 Cryptocurrencies: Feb 12

The declines in the 10 most valuable cryptos in the market have increased in the last 24 hours. EOS is the only exception, showing marginal gains of 0.73%. The rest of the token prices are down, with Tron leading the way with a 4.92% drop. Litecoin has slipped by 2.99% and Bitcoin Cash has lost 2.82% of its token value.

  • Bitcoin’s token price is $3626.20, declining 0.84%. Bitcoin’s market worth at this time is $63.58 billion.
  • Ethereum’s token price is $120.73, declining 0.21%. Ethereum’s market worth at this time is $12.65 billion.
  • Ripple’s token price is $0.300872, declining 1.01%. Ripple market worth at this time is $12.39 billion.
  • Litecoin’s token price is $43.32, declining 2.99%. Litecoin’s market worth at this time is $2.61 billion.
  • EOS’s token price is $2.77, gaining 0.73%. EOS’ market worth at this time is $2.51 billion.
  • Bitcoin Cash’s token price is $121.04, declining 2.82%. Bitcoin Cash’s market worth at this time is $2.13 billion.
  • Tether’s token price is $1.00, declining 0.31%. Tether’s market worth at this time is $2.02 billion.
  • TRON’s token price is $0.024487, declining 4.92%. Tron’s market worth at this time is $1.63 billion.
  • Stellar’s token price is $0.077159, declining 2.60%. Stellar’s market worth at this time is $1.51 billion.
  • Binance Coin’s token price is $9.46, declining 1.67%. Binance Coin’s market worth at this time is $1.33 billion.

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