Market Update 3.12.19 – Medici Ventures Acquires Stake in Bankorus
Market News
Medici Ventures Acquires Stake in Bankorus
According to a March 11 press release, Medici Ventures, the Blockchain subsidiary of the retail giant Overstock.com, has bought a stake in Bankorus, a Blockchain based banking platform.
Bankorus is a platform that allows both institutions as well as individuals to lend, sell, purchase and store cryptos. The press release states that the firm has bought a 5.1% stake in Bankorus. The president of Medici Ventures, Jonathan Johnson stated that the addition of the banking platform to their firm’s portfolio of companies would help in the building of the foundation of a Blockchain technology stack. The financial details of this deal are not known.
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Canaan Creative Closes New Funding Round
One of the largest crypto-mining equipment makers in China, Canaan Creative has just closed a new funding round. According to local news reports, the company, which is best known for its Avalon range of crypto-mining equipment, raised hundreds of millions of dollars in this funding round. With this round of funding, the valuation of the company is now over $1 billion.
While the company did not officially confirm that the funding round had taken place, inside sources confirmed the event, but did not mention any further details. This news comes months after the company’s bid for an IPO (initial public offering) on the Hong Kong Stock Exchange fell through.
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Colorado Digital Token Act Signed into Law
According to a government document published on March 6, Jared S Polis, the Colorado state’s Governor, has passed the Colorado Digital Token Act into law.
This act had first been proposed in January this year, and was sponsored by Democrat Steve Fenberg and Republican Jack Tate at the state Senate level. This new act provides exemptions to a limited extent for the registration of securities, to traders, and for requirements for salesperson licensing for those dealing in cryptocurrencies. A previous bill that had been tabled last May had been voted down, which had disappointed people in the industry.
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Total Market Cap: Mar 12
The capitalization of the crypto market has, in the last 24 hours, gone up to $133.50. Current trading volumes are now at $31.87 billion.
Bitcoin Price Analysis: Mar 12
One the second day of the week, the price of Bitcoin has fallen by 0.55% to trade at $3908.67. The capitalization of the crypto has also fallen to $68.73 billion and volumes of trade at this point are at $9.76 billion.
Ethereum Price Analysis: Mar 12
Ethereum continues to slide, losing 0.67% today to trade at $134.45. Trading volumes are $4.79 right now and the altcoin’s worth in the market is $14.14 billion.
State of the Top 10 Cryptocurrencies: Mar 12
Binance Coin has seen the biggest increases in the last 24 hours, with its token price gaining 2%. Litecoin has seen the second largest gains, with a 1% increase in price. Stellar is the crypto that has experienced the biggest loss in token price today, dropping 3.58%.
- Bitcoin’s trading at $3908.67, down 0.55%. At this time, the worth of the cryptocurrency is $68.73 billion.
- Ethereum’s trading at $134.45, down 0.67%. At this time, the worth of the cryptocurrency is $14.14 billion.
- Ripple’s trading at $0.310349, down 0.37%. At this time, the worth of the cryptocurrency is $12.85 billion.
- Litecoin’s trading at $56.45, up 1%. At this time, the worth of the cryptocurrency is $3.43 billion.
- EOS’s trading at $3.67, up 0.91%. At this time, the worth of the cryptocurrency is $3.32 billion.
- Bitcoin Cash’s trading at $128.94, down 1.38 %. At this time, the worth of the cryptocurrency is $2.27 billion.
- Binance Coin’s trading at $14.76, up 2%. At this time, the worth of the cryptocurrency is $2.08 billion.
- Tether’s trading at $1.01, down 0.24%. At this time, the worth of the cryptocurrency is $2.01 billion.
- Stellar’s trading at $0.0100974, down 3.58%. At this time, the worth of the cryptocurrency is $1.94 billion.
- TRON’s trading at $0.022313, down 1.13%. At this time, the worth of the cryptocurrency is $1.48 billion.