Market Update 5.11.18 – New Smartphones Have Pre-Installed Bitcoin Wallets
Market News
New Smartphones Have Pre-Installed Bitcoin Wallets
The Chinese telecom multinational giant, Huawei Technologies Co. announced that from Friday onwards, their new smartphone devices would allow users to download Bitcoin wallets from their app store, AppGallery.
The telecom giant is releasing new phones that will have the BTC.com Bitcoin wallet pre-installed. The wallet will also be available in the app store. This will be the first ever digital currency app offered by the smartphone maker on its devices.
Since the Chinese government has blocked Android’s Play Store as well as parts of Apple’s App Store, apps like BTC.com’s wallet are not available in the country.
Read the full story here.
Robinhood App Raises $363 Million in Series D Funding
Robinhood, the stock trading app, conducted its Series D round to raise money for its expansion plans for its cryptocurrency trading platform, Robinhood Crypto. The company was able to raise $363 million through this fund raiser. Using this money, the company plans to now expand its operations throughout the US.
With this round of fund raising, Robinhood has become the country’s number two fintech start-up in terms of market value. The company now has a market cap of $5.6 billion, which is a fourfold increase since 2017.
Investors this time included DST Global, Sequoia Capital, Iconiq capital, Kleiner Perkins as well as Alphabet’s venture capital division, Capital G.
Read more here.
Ripple’s XRapid Pilot Gives Up To 70% Savings on Transactions
On Thursday, the startup based on distributed ledger technology, Ripple, posted the results of its pilot program with its XRapid payment program. According to the report, the pilot programs showed significant savings on transaction costs as well as speed with the XRapid payment platform.
The company’s head of product, Asheesh Birla said the company had looked at 7 different pilots and found that the results were similar across all of them. The aggregated savings were to the tune of 40% to 70%, according to the report the company published. The program also proved that cross-border transactions were reduced to minutes versus the days it would take through traditional means.
The companies that piloted the xRapid solution gave extremely positive feedback about its performance.
Read the rest of the story here.
Total Market Cap: May 11
In the last one day, the trading volume stayed more or less the same at $22.47 billion. Market capitalization for the cryptocurrency market was at $419.17, slipping slightly from yesterday.
Bitcoin Price Analysis: May 11
The price of the world’s number one cryptocurrency, Bitcoin, dropped 3.86% to $9000.94. Trading volume slipped to $6.87 billion and the virtual currency’s market value is $153.48 billion.
Ethereum Price Analysis: May 11
The price of Ethereum slipped 3.80% to $734.89 in the last one day. The crypto’s trading volume is $2.71 billion and its market capitalization is now $73.12 billion.
State of the Top 10 Cryptocurrencies: May 11
Volatility continues in the cryptocurrency market, with all the top ten cryptocurrencies dropping their prices in the last 24 hours. The average price drop was about 5.56%, however, EOS was saw the smallest drop of 1.82% in its token price since yesterday.
- Bitcoin prices slipped by 3.86% to $9000.94. Current market cap is $153.48 billion.
- Ethereum prices slipped by 3.80% to $734.89. Current market cap is $73.12 billion.
- Ripple prices slipped by 5.54% to $0.761326. Current market cap is $29.82 billion.
- Bitcoin Cash prices slipped by 6.95% to $1548.10. Current market cap is $26.50 billion.
- EOS prices slipped by 1.82% to $17.76. Current market cap is $15.07 billion.
- Litecoin prices slipped by 7.38% to $148.50. Current market cap is $8.38 billion.
- Cardano prices slipped by 7.67% to $0.295689. Current market cap is $7.66 billion.
- Stellar prices slipped by 6.31% to $0.352688. Current market cap is $6.55 billion.
- IOTA prices slipped by 6.52% to $2.15. Current market cap is $5.96 billion.
TRON prices slipped by 6.66% to $0.075658. Current market cap is $4.97 billion.