Market Update 9.04.18 – ICBC to Focus on Blockchain Development
Market News
ICBC to Focus on Blockchain Development
The Industrial and Commercial Bank of China (ICBC) is planning to now focus on Blockchain development. The bank, founded in 1984, is the biggest bank in the country, with more than 5,000 corporate as well as over 530 million individual customers. It is also the largest bank as well as public company in the world, with assets totaling more than $4.009 trillion.
According to local news reports, the Chairman of the bank, Yi Huiman stated that ICBC would be focusing on innovations in big data, cloud computing, the Internet of Things (IoT), AI (artificial intelligence) and Blockchain technology.
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Abra Opening New Channel for Deposits
The cryptocurrency wallet and exchange Abra is opening a new channel by which users can make deposits – European bank accounts. Users who are residents of the Single Euro Payments Area (SEPA) – as well as other nations of the European Union – will not be able to transfer their funds in Euros or other fiat currencies directly to Abra.
Once Abra receives these funds, the exchange will convert them into Bitcoin and deposit the relevant amount of BTC into users’ wallets. Then, users have the freedom to convert these BTC into whichever cryptocurrency that is available on the Abra app. Currently, Abra about 28 different cryptocurrencies on its platform.
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Ex-Deutsche Bank Trader Joins FXcoin Ltd.
According to mainstream media news, an ex-Deutsche Bank trader has joined the Japanese cryptocurrency exchange, FXcoin Ltd. Yasuo Matsuda, who has been an institutional trader with the German bank, will be joining this startup as a senior crypto strategist from this month.
FXcoin’s founder is also a veteran of Deutsche Bank, with more than 12 years’ experience in the German lender’s Forex division. Reportedly, FXcoin is attracting a large number of institutional veterans from some of the biggest names in the industry, such as Nomura, HSBC and Mitsubishi UFJ Financial.
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Total Market Cap: Sep 04
Currently, the cryptocurrency market is experiencing trade volumes of $11.85 billion, and the market’s valuation is now at $237.09 billion.
Bitcoin Price Analysis: Sep 04
Bitcoin’s is now at $7292.92, another small jump of 0.46% hike. The market value of BTC is now $125.77 billion on trading volumes of $3.93 billion.
Ethereum Price Analysis: Sep 04
Ethereum’s price is now at $286.25, a 1.43% loss since yesterday. Ether’s market value is $29.16 billion on trade volumes of $1.42 billion.
State of the Top 10 Cryptocurrencies: Sep 04
The performance of cryptocurrencies across the globe has been a mixed bag since yesterday. Most of the cryptocurrencies in the top ten list have shown marginal gains or losses in the last 24 hours. The exception to that is Monero, which shot up by 11.58%. The other two cryptos to top the chart today are Litecoin, which is up by 2.41% and Stellar, which is up by less than 1% in trading so far today.
- Bitcoin’s price is currently $7292.92, gaining 0.46%. The virtual coin’s market value is $125.77 billion.
- Ethereum’s price is currently $286.25%, losing 1.43%. The virtual coin’s market value is $29.16 billion.
- Ripple’s price is currently $0.333134, losing 1.25%. The virtual coin’s market value is $13.20 billion.
- Bitcoin Cash’s price is currently $627.47, losing 0.25%. The virtual coin’s market value is $10.87 billion.
- EOS’s price is currently $6.42, losing 1.02%. The virtual coin’s market value is $5.81 billion.
- Stellar’s price is currently $0.222642, gaining 0.89%. The virtual coin’s market value is $4.17 billion.
- Litecoin’s price is currently $66.37, gaining 2.41%. The virtual coin’s market value is $3.85 billion.
- Tether’s price is currently $0.999328, losing 0.03%. The virtual coin’s market value is $2.80 billion.
- Cardano’s price is currently $0.104062, gaining 0.63%. The virtual coin’s market value is $2.69 billion.
- Monero’s price is currently $135.48, gaining 11.58%. The virtual coin’s market value is $2.21 billion.