Market Update 3.10.19 – NEM Foundation Draws Path Forward

Market News

NEM Foundation Draws Path Forward

The NEM Foundation is charting out a survival plan after it successfully grabbed a funding injection of around $8 million. The figure, in particular, was obtained by the organization last month, the same month it decided to lay off most of its entire workforce.

Key members of the community gave the approval to release at least 210 million XEM, which is the native coin of the firm’s blockchain. In an official post, the organization’s leadership department unveiled their plans on how the very first installment can be spent.

According to Alexandra Tinsman, the president at NEM Foundation, the approval is without a doubt “a vote of confidence.” And the way things are unveiling, she believes that they are all set to pivot to a new working style.

Read the full report here.

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Swissquote Bank’s ‘Nuke Proof’ Crypto Custody

Swissquote, which is an online banking and trading group, reportedly released a cryptocurrency custody platform. Although it was already launched last month, the platform’s presence has just been felt recently. The banking institution, which is based in Switzerland, said that starting March 21, all customers – be it institutional or retail – will have the ability to transfer digital currencies from their respective external wallets. More importantly, they are allowed to store these digital assets in a Swissquote account.

The bank has made allies with Zug-based Crypto Storage AG. The latter, in particular, is basically part of Crypto Finance AG. The partnership has made it possible for the aforementioned service to become a reality. According to Stijn Vander Straeten, the CEO of Crypto Storage, their HSMs having similar traits with those built specifically for Swiss National Bank, which is basically the central bank in the country.

Read the full report here.

Facebook Wants To Expand Blockchain Department

The social media giant is looking to expand its department focused on the blockchain technology. In fact, it has released an official list of 20 jop openings, such as marketing managers, data scientist, product designer, and engineers, among many others.

Facebook’s most notable role from the list is the global security strategic partner. This one right here will be responsible for serving both as a liaison and thought partner.

Read the full report here.

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Total Market Cap: March 10

The volume of trade in the cryptocurrency space has reached $33.11 billion. As for the market’s capitalization, it obtained $133.96 billion.

Bitcoin Price Analysis: March 10

Bitcoin, the world’s most popular digital currency, fell 0.14% in the past 24 hours. This resulted in a trade price of only $3,937.91. For its trade volume and market value, it got $10.39 and $69.23, respectively.

Ethereum Price Analysis: March 10

Much like BTC, Ethereum also fell in the past 24 hours. Its trade fell to 1.39% to only snatch a trade of around $136.32. When talking about its trade volume, it reached $4.92 billion; whereas as the altcoin’s market value got $14.34 billion.

State of the Top 10 Cryptocurrencies: March 10

Almost all prices in the crypto space went down, with Tether and Stellar being the only exceptions. Also, TRON managed to dethrone Bitcoin SV at the 10^th spot despite its trade fall.

• Bitcoin’s market price fell 0.14% to $3,937.91, and its value in the market is $23 billion.
• Ethereum’s market price fell 1.39% to $136.32, and its value in the market is $14.34 billion.
• XRP’s market price fell 1.31% to $312034, and its value in the market is $12.93 billion.
• Litecoin’s market price fell 2.81% to $56.81, and its value in the market is $3.45 billion.
• EOS’s market price fell 1.99% to $3.71, and its value in the market is $3.37 billion.
• Bitcoin Cash’s also fell in its market price at 0.50% to receive $131.58, and its value in the market is 2.32 billion.
• Binance Coin’s market price fell 2.55% to $14.42, and its value in the market is $2.04 billion.
• Tether’s market price jumped 0.15% to $1.01, and its value in the market is $2.01 billion.
• Stellar’s market price jumped 3.85% to $092294, and its value in the market is $1.77 billion.
• TRON took the 10^th spot from Bitcoin SV despite a decline to 0.51%, giving its trade price a rate of $0.022606 and a market value of $1.51 billion.