Market Update 5.06.19 – MIT Professor Working on Facebook Coin

| Publish date: 05/06/2019
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MIT Professor Working on Facebook Coin

According to a news report, Professor Christian Catalini from MIT (Massachusetts Institute of Technology) is on leave and is purportedly working on developing a new token for Facebook.

Two sources who wished to remain anonymous but have knowledge about this project, stated that Catalini was collaborating with Facebook. Catalini is MIT’s Theodore T Miller Career Development Professor, and is also one of the most prominent researchers in token economics. There have been rumors about Facebook wanting to create its own cryptocurrency token for the last one year.

Read more about this story here.

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Lightning Payments Can Now Be Made on Apple Smartwatches

Bluewallet, one of the most popular Lightning Network’s wallets, launched a new app for Apple Smartwatches on Sunday, May 05, which allows users receive BTC (Bitcoin) using the Lightning network. The Smartwatch can be used to generate QR codes that can be scanned by another user’s smartphone, who can then send a payment.

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According to Bluewallet’s UX and product engineer, Nuno Coelho, stated that this new app was an experiment that they were conducting to see if wallets could be put in smart watches. Coelho also said that the first version of the app would be simple – users would only be able to receive payments.

Read the details of this story here.

Bitfinex Under Pressure to Disclose Tether Deal Documents

The New York Attorney General (NYAG) Letitia James filed a memorandum of law on May 3, requesting that Bitfinex disclose all documents related to a deal made between the cryptocurrency exchange and its affiliate, stablecoin operator Tether.

According to the memorandum, the NYAG is calling for greater transparency and is claiming at Bitfinex and Tether had misled their investors as well as clients. The document also explained why it had requested for Bitfinex to reveal its deal with Tether. According to the NYAG, while these requested documents would not impact the core issues of this case, it would serve to help understand what happened, as well as what continued to occur at these two companies.

Read the rest of the story here.

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Total Market Cap: May 06

The global cryptocurrency market’s current capitalization is at $179.37 billion. The markets are also experiencing a total trading volume of $45.57 billion at the moment.

Bitcoin Price Analysis: May 06

Since yesterday, the price of Bitcoin has dipped by 1.71% to its current trading price of $5678.16. The crypto is facing trading volumes of $14.56 billion and its valuation in the market is now $100.41 billion.

Ethereum Price Analysis: May 06

In the last one day, the price of Ethereum has dropped by 1.88% to $160.33. The crypto’s trading volumes stand at $5.82 billion and its value in the market is now $16.98 billion.

State of the Top 10 Cryptocurrencies: May 06

The entire top ten most valuable cryptocurrency list is currently trading down, with the biggest losses being experienced by LTC (Litecoin), whose price has dropped 5.29%, ADA (Cardano), whose price has fallen 4.88% and BNB (Binance Coin), whose price is down by 4.67% since the same time yesterday.

  • Bitcoin’s trading at $5678.16, dropping 1.71%. Market valuation of the virtual asset is $100.41 billion.
  • Ethereum’s trading at $160.33, dropping 1.88%. Market valuation of the virtual asset is $16.98 billion.
  • Ripple’s trading at $0.297464, dropping 1.89%. Market valuation of the virtual asset is $12.51 billion.
  • Bitcoin Cash’s trading at $282.05, dropping 3.30%. Market valuation of the virtual asset is $5.01 billion.
  • Litecoin’s trading at $72.74, dropping 5.29%. Market valuation of the virtual asset is $4.48 billion.
  • EOS’s trading at $4.72, dropping 3.94%. Market valuation of the virtual asset is $4.45 billion.
  • Binance Coin’s trading at $21.81, dropping 4.67%. Market valuation of the virtual asset is $3.07 billion.
  • Tether’s trading at $1, dropping 0.01%. Market valuation of the virtual asset is $2.78 billion.
  • Stellar’s trading at $0.096061, dropping 2.99%. Market valuation of the virtual asset is $1.83 billion.
  • Cardano’s trading at $0.063728, dropping 4.88%. Market valuation of the virtual asset is $1.65 billion.
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