Market Update 3.31.18 – Telegram ICO Raises $1.7 Billion
Market News
Telegram ICO Raises $1.7 Billion
Public documents have revealed that the popular messaging service app provider Telegram has raised another $850 million through its ICO private sale, taking the total funds raised to $1.7 billion.
The company has now exceeded its original target of $1.2 billion through its ICO fund raiser. These fund are being raised to create the Telegram Open Network (TON), which is an ambitious blockchain project targeted at decentralizing various aspects of digital communication, right from file sharing and browsing up to transactions.
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Cisco Developing Confidential Group Sharing System
According to a patent application filing, one of the biggest IT companies in the world, Cisco is developing a system using Blockchain technology which will make confidential group sharing possible.
The application Cisco filed outlines the way in which Blockchain will ensure more confidential as well as secure group communications which will include messaging, file sharing and even tracking of membership histories. This method implies that a secured network would be established using cryptographic keys. This would ensure that only authorized participants could enter the group chat.
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Mayor of Seoul Pro Cryptos
The Mayor of Seoul, the capital of South Korea, Mr. Park Won-soon has said that he wants to launch a cryptocurrency just for Seoul and also create an environment that is conducive to the development of Blockchain as well as cryptocurrency projects.
The Mayor made an official announcement, stating that he would be creating industrial clusters and startups focused on blockchain technology. He also said that they were going to begin work on developing Seoul’s very own cryptocurrency called S Coin.
Taking a page out of Estonia’s book, Mr. Park said that they would be exploring the potential uses of blockchain technology in the administrative functions of the city, ranging from public transportation, electricity, gas, water and even infrastructure management.
Find out more here.
Total Market Cap: Mar 31
The volume of trade fell again in the last 24 hours to $12.67 billion and the value of the cryptocurrency market continued its downward slide to $260.76 billion.
Bitcoin Price Analysis: Mar 31
Bitcoin slipped another 2.57% to a price of $6877.34 in the last 24 hours. The volume of trade also dropped to $5.05 billion and the crypto’s market cap slid further to $116.47 billion.
Ethereum Price Analysis: Mar 31
Ethereum’s price made a tiny recovery over the last 24 hours, going up by 0.35% to trade at a $395.02 per token. The cryptocurrency saw trading volumes of $1.59 billion. The market value of the altcoin went to $38.89 billion.
State of the Top 10 Cryptocurrencies: Mar 31
The cryptocurrency market continues to remain sluggish, with most of the top ten digital currencies losing value in the last 24 hours.
- Bitcoin now has a price of $6877.34, a slide of 2.57%, and its value in the market is $116.47 billion.
- Ethereum now has a price of $395.02, gaining by 0.35%, and its value in the market is $38.89 billion.
- Ripple now has a price of $0.507147, a slide of 1.73%, and its value in the market is $19.82 billion.
- Bitcoin Cash now has a price of $694.48, a drop of 7.06%, and its value in the market is $11.83 billion.
- Litecoin now has a price of $118.22, a slide of 2.36%, and its value in the market is $6.60 billion.
- EOS now has a price of $6.06, a slide of 1.14%, and its value in the market is $4.62 billion.
- Cardano now has a price of $0.146194, a slide of 0.55%, and its value in the market is $3.79 billion.
- Stellar now has a price of $0.202193, a jump of 6.09%, and its value in the market is $3.75 billion.
- NEO now has a price of $50.46, a slide of 3.42%, and its value in the market is $3.27 billion.
- IOTA now has a price of $1.10, a slide of 1.78%, and its value in the market is $3.05 billion.