Market Update 5.05.2018 – Global Token Sales Show Potential for Early 2018
Global Token Sales Show Potential for Early 2018
It holds true that the ICO industry has a very positive momentum lately, but token sales are showing a much more interesting phase. According to a new research conducted by Elementus, there is an interesting future that awaits token industry. And it seems the business model itself is the one to be merited.
The mounting number of token sales, in particular, is one viable reason for the rise. While December last year may have been a terrible month, token sales have gradually picked thing ups in the beginning of March 2018. It is definitely a thing to look forward to in the next months or so.
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Ripple Gets Hit With Class-Action Suit
In July, the U.S. Securities and Exchange Commission stated that companies raising money via digital asset sales should adhere to all federal securities laws. Apparently, this is not the case with Ripple. The world’s third largest cryptocurrency has been hit with a lawsuit which alleges a scheme to raise hundreds of millions of dollars. This is believed to be done via unregistered sales of the crypto’s XRP tokens.
It turns out that the San Francisco-based company is creating billions of coins out of nowhere. From there, it profited through selling these tokens to the public. It is describe as “essentially a never-ending initial coin offering.” The class-action lawsuit, which was filed on Thursday, states that Ripple violated state and federal laws the moment it offered unregistered securities to its retail investors.
Read the full report here.
Online Art Auctioneer Launches Blockchain-Based Art Authentication Service
Paddle8 and The Native, an American online art auctioneer and Swiss tech company, respectively, will launch a blockchain-based art authentication service. The former, in particular, is poised to offer a digital certificate called P8Pass to each of the thousands of artworks sold online. It will also encode this information on the popular Bitcoin blockchain.
P8Pass is basically a digital certificate, but its data is encoded simultaneously onto a blockchain. This will then be linked to digital directories, speciliazed literature, and information acquired from museum catalogs just to name a few. All artworks purchased on Paddle8 will acquire a certificate which already has a direct access to both authorship information and ownership history.
Check out the full report here.
Total Market Cap: May 5
The volume of trade in the crypto market dripped to $26.48 billion. The market’s capitalization also went down a bit to $447.52 billion.
Bitcoin Price Analysis: May 5
In the past 24 hours, Bitcoin’s price fell by 3.95% to $9,518.79. The leading cryptocurrency’s trade volume also dripped to $7.76 billion, while its market slid to $161.99 billion.
Ethereum Price Analysis: May 5
As compared to yesterday, Ethereum’s price fell significantly at around 5.69% to trade at $771.58. The altcoin’s trading volume also slipped a notch to $3.20 billion; whereas its market capitalization hit $76.59 billion.
State of the Top 10 Cryptocurrencies: May 5
Surprisingly, most prices dropped significantly today, with only Bitcoin Cash managing to up its ante a bit. TRON has once again re-entered the top 10 list, as NEO fell at the 11th spot.
- Bitcoin’s market price fell 4.02% to $9,514.28, and its value in the market is $161.92 billion.
- Ethereum’s market fell 5.97 % to $769.54, and its value in the market is $76.39 billion.
- Ripple’s market fell 4.97% to $0.861866, and its value in the market is $33.77 billion.
- Bitcoin Cash’s market jumped 0.30% to $1,688.96, and its value in the market is $28.90 billion.
- EOS’s market price fell 5. 99% to $17.01, and its value in the market is $14.27 billion.
- Litecoin’s market price fell 3.91% to $166.39, and its value in the market is $9.39 billion.
- Cardano’s market price fell 6.26% to $0.342974, and its value in the market is $8.90 billion.
- Stellar’s market price fell 4.80% to $0.410663, and its value in the market is $7.62 billion.
- IOTA’s market price fell 6.62% to $2.23 and its value in the market is $6.19 billion.
- TRON re-entered the list, but its market price fell 5.98% to $0.082645, and its value in the market is $5.43 billion.