Market Update 3.23.18 – Huawei Planning to Develop Blockchain
Market News
Huawei Planning to Develop Blockchain Based Smartphone
According to an anonymous source, Huawei is planning to develop a smartphone that supports decentralized apps (DApps) powered by blockchain technology. The anonymous tipper said that the Chinese tech giant is applying for the SIRIN OS license.
SIRIN OS is an open-source operating system that has been developed by SIRIN Lab. The system is powered by blockchain technology and that is why Huawei wants it – it wants to implement this operating system, along with DApps in its Android phones.
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Blockchain can Protect Privacy on Facebook
According to RBC Capital Markets, using blockchain technology could protect users’ privacy on Facebook and other social media platform.
Mitch Steves from RBC Capital Markets stated that using blockchain on social media platforms would mean that you could track your information and you would know who is getting that information.
However, using social media such as Facebook would still mean that you would not have full control over your information. While you would still be able to track what happens to your data, you would not be able to stop your content from becoming available to third parties.
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Bitcoin a Legitimate “Transferable Value”
A Mr. J W De Vries had previously filed a case against a non-public company called Koinz Trading BV because it owed him 0.591 BTC for mining. The company refused to pay and De Vries took it to court. The Dutch Court sided with De Vries and told Koinz Trading that unless it paid De Vries, it was going to be declared insolvent and shut down.
The reason this ruling is so important is because the court official declared Bitcoin legitimate and that it had transferable value. The court stated that the cryptocurrency had all the characteristics of a property right.
This ruling comes at a time when organizations like the G20 refuse to acknowledge that cryptocurrencies like Bitcoin have value.
Find out more here.
Total Market Cap: Mar 23
Cumulative cryptocurrency trading volume carried on with its slow slide in the last 24 hours, with the market’s volume today being $14.71 billion. The cryptocurrency market’s capitalization also dropped some more to $324.70 billion.
Bitcoin Price Analysis: Mar 23
Bitcoin just doesn’t seem to be able to overcome the $9000 resistance and has once again slipped 6.24% to $8497.07 in the last 24 hours. Volume of trade in Bitcoin is also down to $5.53 billion and its market cap is down to $143.62 billion.
Ethereum Price Analysis: Mar 23
Ethereum also continues its slide to a current price of $522.32, an 8.80% drop in the last 24 hours. The cryptocurrency’s volume in trade is also down at $1.54 billion, while its market value is at $51.31 billion.
State of the Top 10 Cryptocurrencies: Mar 23
All cryptocurrencies in the top ten list have gone down in value in the last 24 hours. The worst performer is currently Cardano, which suffered a 13.64% drop in the last 24 hours.
- Bitcoin is trading at $8497.07, a 6.24% slide. The virtual currency’s market value is $143.62 billion.
- Ethereum is trading at $522.32, an 8.80% slide. The virtual currency’s market value is $51.31 billion.
- Ripple is trading at $0.63, an 8.69% slide. The virtual currency’s market value is $24.84 billion.
- Bitcoin Cash is trading at $971.06, a 7.69% slide. The virtual currency’s market value is $16.53 billion.
- Litecoin is trading at $158.76, a 7.33% slide. The virtual currency’s market value is $8.85 billion.
- Cardano is trading at $0.189743, a 13.64% slide. The virtual currency’s market value is $4.91 billion.
- EOS is trading at $6.56, an 8.88% slide. The virtual currency’s market value is $4.89 billion.
- NEO is trading at $65.18, a 12.82% slide. The virtual currency’s market value is $4.23 billion.
- Stellar is trading at $0.226848, an 11.54% slide. The virtual currency’s market value is $4.20 billion.
IOTA is trading at $1.28, a 7.91% loss. The virtual currency’s market value is $3.55 billion.