Market Update 8.15.18 – Jamaica Stock Exchange Introducing Crypto Trading

| Publish date: 08/15/2018
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Jamaica Stock Exchange Introducing Crypto Trading

According to its press release, the Jamaica Stock Exchange (JSE) is introducing cryptocurrency and token trading on its platform with the help of Canadian fintech startup Blockstation. The fintech firm is launching a project which, when implemented, will allow JSE to provide trading, execution, quotes as well as settlement services for cryptos.

The head trader for a broker member of the JSE, Kirk Brown, stated that this move would allow investors to trade in digital assets via traditional financial institutions.

Read the details of this story here.

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LINE Launches $10 Million Venture Fund for Tokens

LINE, the Japan-based publically traded messaging giant, launched its own venture fund for tokens which has a capital commitment of $10 million. The company is doing so through its recently created subsidiary, Unblock Ventures.

LINE announced on Wednesday in a press release that it was investing in Blockchain based startups as a part of its effort to push up technological development in the sector. According to the announcement, while Unblock Ventures will be the fund manager, the capital will come solely from another LINE subsidiary, LVC Corporation. The company also stated that it was expecting to increase the total amount of the capital funding in future, depending on the growth in the Blockchain sector.

Find out more about this story here.

Venezuela Using Petro as Unit of Account

According to the local news outlets, Venezuelan President Nicolas Maduro announced that the national oil-backed cryptocurrency – the Petro – that was launched by his government recently, will be used as a unit of account in their country.

Maduro announced via a television address that the government owned oil company PDVSA would be using the Petro as a unit of account. He stated that in addition to that, the government was going to introduce a new salary as well as pricing system for goods and services that would be based on the national cryptocurrency.

Maduro stated that a new accounting system for pricing and salaries based on the Petro would lead to substantial improvements in workers’ income and would help the reappearance of the maximum sale price.

Find out more about this story here.

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Total Market Cap: August 15

Volume in trading in the cryptocurrency market is currently $13.72 billion and its value has gained traction, once again being above the $200 billion mark, at $203.61 billion.

Bitcoin Price Analysis: August 15

Bitcoin’s price rose 4.39% since yesterday to $6328.34. The value of the digital currency went up to $109.02 and its volume of trading is $4.61 billion.

Ethereum Price Analysis: August 15

Ethereum rose by 5.91% to a price of $282.92. The altcoin’s trading volume is $1.91 billion and its market capitalization has increased to $28.62 billion.

State of the Top 10 Cryptocurrencies: August 15

The cryptocurrency market turned around in the last 24 hours, with all the top ten cryptocurrencies gaining and the market going green once more. The biggest gains were seen by Monero, which went up by 8.51%, Ripple, which gained 8.08% and EOS, when went up by 6.75%.

  • Bitcoin rose 4.39% to trade at $6328.34. The crypto token’s value is $109.02 billion.
  • Ethereum rose 5.91% to trade at $282.92. The crypto token’s value is $28.62 billion.
  • Ripple rose 8.08% to trade at $0.283274. The crypto token’s value is $11.15 billion.
  • Bitcoin Cash rose 4.07% to trade at $515.38. The crypto token’s value is $8.91 billion.
  • EOS rose 6.75% to trade at $4.65. The crypto token’s value is $4.21 billion.
  • Stellar rose 5.58% to trade at $0.222202. The crypto token’s value is $4.17 billion.
  • Litecoin rose 6.46% to trade at $55.39. The crypto token’s value is $3.20 billion.
  • Cardano rose 5.50% to trade at $0.097329. The crypto token’s value is $2.52 billion.
  • Tether rose 0.06% to trade at $1. The crypto token’s value is $2.41 billion.
  • Monero rose 8.51% to trade at $89.65. The crypto token’s value is $1.45 billion.
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