Market Update 4.21.18 – Quorum Blockchain Being Tested by Major Corporates
Quorum Blockchain Being Tested by Major Corporates
In the latest news, JP Morgan Chase & Co, the National Bank of Canada, Pfizer, Goldman Sachs Asset Management, as well as Legg Mason’s Western Asset among other major corporates tested the new Quorum Blockchain platform with the aim of making financial transactions easier.
JP Morgan has spent the last one year developing this platform and stated earlier in March that the bank was considering spinning off Quorum into an independent entity so that it can attract more customers.
Read the full story here.
EU Parliament Voting for Closer Crypto Regulations
The European Union Parliament has voted for closer cryptocurrency related regulations to their markets. The EU Parliament’s members gave a majority vote to back a December 2017 agreement with the European Council to put measures in place that would, at least in part, prevent the cryptocurrencies being used for money laundering as well as financing terrorism.
This new legislation targets the anonymity being offered by cryptocurrencies. It will now put in place rules for cryptocurrency exchanges, wallet providers, and platforms so that they are registered with government authorities and will need to ensure all their customers are verified through due diligence procedures.
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Russian Supreme Court Orders Review of Crypto Website Ban
Cryptocurrency website Bitcoininfo.ru was blocked by the Vyborgsky District Court of St. Petersburg in 2016. The court claimed that cryptocurrencies were a method of virtual payment as well as accumulation, which was illegal since it undermined the country’s sole legal fiat currency – the Ruble.
The problem was that the court did not even inform the defendants that their website was being shut down. It was only when they tried to use the website that they realized their access had been cut off. And by that time, the window for an appeal had also closed.
Find out more here.
Total Market Cap: Apr 21
Trading volume in the cryptocurrency market dropped in the last 24 hours to $26.34 billion and market value continued to rise to $378.43 billion.
Bitcoin Price Analysis: Apr 21
Bitcoin’s price is up by 5.72% to trade at $8763.29. The number one cryptocurrency’s trading volume gained some more to $8.49 billion and its market value also went up to $148.73 billion.
Ethereum Price Analysis: Apr 21
Ethereum went up 5.4% to trade at a price of $594.72. Ether’s trading volume has rose to $2.7 billion and market value increased to $58.84 billion.
State of the Top 10 Cryptocurrencies: Apr 21
While overall trading volume may have slipped ever so slightly, the market value of all the top ten cryptocurrencies have gone up. Bitcoin Cash was the leader in the top ten, growing by 12.93% to $1084.28. EOS was close behind at 12.73% growth at $10.89.
- Bitcoin’s price rose 5.72% to a price of $8763.29. The market capitalization for the crypto is currently $148.73 billion.
- Ethereum’s price rose 5.4%, to a price of $594.72. The market capitalization for the crypto is currently $58.84 billion.
- Ripple’s price rose 5.28%, to a price of $0.867499. The market capitalization for the crypto is currently $33.93 billion.
- Bitcoin Cash’s price rose 12.93%, to a price of $1084.28. The market capitalization for the crypto is currently $18.52 billion.
- EOS’s price rose 12.73%, to a price of $10.89, overtaking LTC. The market capitalization for the crypto is currently $8.78 billion.
- Litecoin’s price rose 1.67%, to a price of $147.39. The market capitalization for the crypto is currently $8.28 billion.
- Cardano’s price rose 5.34%, to a price of $0.285752. The market capitalization for the crypto is currently $7.4 billion.
- Stellar’s price rose 2.18%, to a price of $0.368147. The market capitalization for the crypto is currently $6.83 billion.
- IOTA’s price rose 6.28%, to a price of $1.86. The market capitalization for the crypto is currently $5.18 billion.
- NEO’s price rose 1.32%, to a price of $74.12. The market capitalization the crypto is currently $4.81 billion.