Market Update 3.09.19 – NEM Foundation Facing Financial Difficulties
Market News
NEM Foundation Facing Financial Difficulties
The NEM Foundation is facing financial problems and has now released a plan to restructure its organization as well as finances to deal with its problems. This plan follows the news that broke earlier this year that the Foundation was running out of its native XEM cryptos.
The Foundation had announced that it was releasing 210 million XEM tokens, which amounted to about $8.7 million from its reserves. The project stated that the first 25 million cryptos, valued at about $1.04 million, were going to be used to restructure the company.
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Swissquote Launching Crypto Custody Service
The Switzerland-based firm Swissquote announced on Friday that from March 21, it was launching a cryptocurrency custody service. Using this new service, the company stated that retail as well as institutional customers would be able to transfer cryptos from external wallets so that they could be stored in Swissquote’s account.
For this new offering, Swissquote has entered into a partnership with Crypto Storage AG, which a Zug-based subsidiary of Crypto Finance AG. Crypto Storage AG manages private keys from cryptos using proprietary solutions using HSMs (Hardware Security Modules). According to the CEO of the company Stijn Vander, their HSMs are the same as those made for the Swiss National Bank.
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US World Leader in Blockchain Jobs
According to a research report released by NextWeb (TNW) on March 8, the US is the world leader in jobs related to Blockchain. The report was created by taking information from job recruitment site Glassdoor. The research firm located all the job offerings that used the word Blockchain in listings across the globe.
The results show that the United States has the largest number of Blockchain related jobs listed – 2,616 of the 5,711 jobs listed on the site were based out of the US. The UK is in second place, with 1,015 ads related to Blockchain based jobs and India is in third place with 257 job posts related to this industry.
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Total Market Cap: Mar 09
This has been a good with for the cryptocurrency market, with capitalization continuing to rise. It is now at $134.91 billion and trading volumes are also on the rise at $34.24 billion.
Bitcoin Price Analysis: Mar 09
Bitcoin’s price also continues to rise, going up in the last 24 hours by 0.70% to its current trading price of $3949.07. Capitalization stands at $69.42 billion and trading volumes are at $10.76 billion.
Ethereum Price Analysis: Mar 09
Ether is up 1.03% to its current trading price of $138.83. Capitalization of the altcoin is now $14.59 billion and trading volumes are at $4.97 billion.
State of the Top 10 Cryptocurrencies: Mar 09
Tron is the only crypto in the 10 most valuable cryptocurrencies list that is currently trading down. The altcoin is down by 0.60%. The rest of the top cryptos are trading up at this point, with the biggest gains being made by Bitcoin Cash, Litecoin and Stellar, whose prices are up 3.94%, 3.82% and 2.89% respectively.
- Bitcoin’s trading at $3949.07, up by 0.70%. Now, its capitalization in the market is $69.42 billion.
- Ethereum’s trading at $138.83, up by 1.03%. Now, its capitalization in the market is $14.59 billion.
- Ripple’s trading at $0.316525, up by 0.96%. Now, its capitalization in the market is $13.11 billion.
- Litecoin’s trading at $58.79, up by 3.82%. Now, its capitalization in the market is $3.57 billion.
- EOS’s trading at $3.81, up by 1.42%. Now, its capitalization in the market is $3.45 billion.
- Bitcoin Cash’s trading at $135.32, up by 3.94%. Now, its capitalization in the market is $2.39 billion.
- Binance Coin’s trading at $14.72, up by 2.42%. Now, its capitalization in the market is $2.07 billion.
- Tether’s trading at $1.01, up by 0.08%. Now, its capitalization in the market is $2.01 billion.
- Stellar’s trading at $0.089272, up by 2.89%. Now, its capitalization in the market is $1.68 billion.
- TRON’s trading at $0.022707, down by 0.60%. Now, its capitalization in the market is $1.51 billion.