Market Update 1.23.19 – IDRBT Publishes Blueprint for Blockchain Implementation
Market News
IDRBT Publishes Blueprint for Blockchain Implementation
The IDRBT (Institute for Development and Research in Banking Technology) in India has published a blueprint on how Blockchain technology can be implemented in the banking sector. The IDRBT was instituted by the central bank of the country, the Reserve Bank of India (RBI) to do research about and conduct experiments for the banking sector.
This blueprint offers a roadmap to how Blockchain technology can be adopted by various sectors. It also presents options on how protocols for the nascent industry can be established in India.
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Nebulas Lays Off Over 60% Of Its Staff
The company that launched the Blockchain project Nebula has shrunk from an 80-person team to just 30 people. The company started with a $60 million sale for its token NAS just 7 months ago, however, market conditions have taken this startup’s token from a top 100 crypto priced at $2 to barely a quarter of its original value.
The company had been in the news in August when it announced that it was delaying the launch of its NAS token. That included retaining the founders’ tokens for 10 years in a bid to build investor confidence. Since then, the company has had to postpone or shelve many of its plans, at least until the market conditions get better.
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Sapphire Announces New GPU to Mine GRIN Coin
Sapphire, a Hong-Kong-based computer hardware producer, announced that it was launching a new graphics card focused on mining the new token GRIN Coin. The GPU, is the first of a series that are being produced specifically for the mining of the new coin.
GRIN, released this month and is a privacy-focused token which is being advertised as a completely decentralized as well as democratized cryptocurrency. The crypto uses nimblewimble technology, which in theory, gives uses complete anonymity on GRIN’s network. Sapphire’s new GPU will be able to solve the Blockchain’s algorithm (called Cuckoo Cycle) which is the foundation of GRIN’s PoW (Proof-of-Work).
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Total Market Cap: Jan 23
The cryptocurrency market is gained some traction and is currently at $120.44 billion. Trade volumes for the market are at $15.79 billion.
Bitcoin Price Analysis: Jan 23
Bitcoin is up 0.85% to trade at a token price of $3601.47, with a capitalization of $63.02 billion. Trade volumes are $5.17 billion.
Ethereum Price Analysis: Jan 23
Ethereum’s current price is $118.89, which is 1.27% higher that its price the same time yesterday. The altcoin is experiencing trade volumes of $2.43 billion and its valuation is $12.42 billion.
State of the Top 10 Cryptocurrencies: Jan 23
Of the top cryptocurrencies in the market, Tron is down by 0.83% and Tether has lost 0.46% of its token price. The other top cryptos are currently trading in the green, though only marginally, with the exception of Bitcoin Cash, which is up by 7%.
- Bitcoin’s price is $3601.47, going up 0.85%. The current market value of the virtual currency is $63.02 billion.
- Ripple’s price is $0.318038, going up 0.17%. The current market value of the virtual currency is $13.05 billion.
- Ethereum’s price is $118.89, going up 1.27%. The current market value of the virtual currency is $12.42 billion.
- Bitcoin Cash’s price is $130.91, going up 7%. The current market value of the virtual currency is $2.30 billion.
- EOS’s price is $2.45, going up 3.96%. The current market value of the virtual currency is $2.21 billion.
- Tether’s price is $1.01, going down 0.46%. The current market value of the virtual currency is $2.03 billion.
- Stellar’s price is $0.103603, going up 0.66%. The current market value of the virtual currency is $1.98 billion.
- Litecoin’s price is $31.75, going up 2.02%. The current market value of the virtual currency is $1.90 billion.
- TRON’s price is $0.025881, going down 0.83%. The current market value of the virtual currency is $1.72 billion.
- Bitcoin SV’s price is $75.75, going up 1.13%. The current market value of the virtual currency is $1.33 billion.