Market Update 7.18.18 – Nervos Network Raises $28 Million in Funding
Market News
Nervos Network Raises $28 Million in Funding
The new Blockchain startup Nervos Network announced that it raised about $28 million in its Series ‘A’ funding round. According to the company, investors in this round of funding included crypto hedge fund Polychain, venture capital company Sequoia China and various Chinese Blockchain startups like Bixin and imToken.
Nervos announced that the funds raised from this round of financing will be used to expand its product as well as engineering team so that it can hasten the process of developing its own Blockchain infrastructure.
Find out more here.
Litecoin’s Charlie Lee Clarifies Position on Bank
Litecoin’s founder Charlie Lee clarified on Reddit on July 17 that there might be a possibility of German WEG Bank AG offering cryptocurrency based services. This announcement was made after Litecoin acquired a 9.9% stake in the bank via a strategic partnership with the fiat-crypto payments company TokenPay.
According to its deal with TokenPay, Litecoin offered the company its Blockchain, marketing as well as logistics expertise, in return for its 9.9% stake in WEG Bank. In his Reddit post, Lee clarified a few details about his company’s acquisition of the bank, stating that Litecoin did not pay any money for WEG. He also stated that he was expecting to get a position on the bank’s board of directors.
Read more here.
Bitcoin Finally Crosses $7k Mark
After weeks of struggling to keep its head above the 6k mark, Bitcoin has finally crossed the $7k resistance mark after cryptocurrency markets saw a big upswing since this weekend. The current upswing looks like it going to reverse the massive capitalization losses suffered last week, which may actually have been just a temporary drop rather than a sustained downswing.
After the market surge yesterday, which saw all the top cryptocurrencies in the world go green, BTC is currently trading at more than $7400, up more than 9% in the last 24 hours.
With this performance, Bitcoin’s weekly as well as monthly gains has gone back into positive territory. Weekly gains for BTC are at about 6% and monthly gains stand at 2% at this time.
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Total Market Cap: July 18
Trading volume jumped up another $4 billion in the last 24 hours to a current $19.65 billion. The market’s valuation has jumped up to $295.81 billion.
Bitcoin Price Analysis: July 18
Bitcoin continued its upward momentum, finally crossing $7k to a current price of $7429.71, which is a 10.96% jump since yesterday. Trading volume in Bitcoin is currently $6.33 billion and its market value is $126.88 billion.
Ethereum Price Analysis: July 18
Ethereum’s price jumped by 6.63% to trade at $505.11 per token. The altcoin’s current trading volume is $2.43 billion and its valuation is now $50.71 billion.
State of the Top 10 Cryptocurrencies: July 18
The cryptocurrency market soared today with all top ten cryptocurrencies performing outstandingly well. Stellar replaced Litecoin as the 6th most valuable cryptocurrency today after it jumped a massive 24.07%, making it the star performer of the day so far. Cardano saw a gain of 17.86%, while EOS was number 3 in terms of gains at 12.02%.
- Bitcoin jumped 10.96% to $7429.71. The asset’s market valuation is currently $126.88 billion.
- Ethereum jumped 4.36% to $505.11. The asset’s market valuation is currently $50.71 billion.
- Ripple jumped 8.98% to $0.513245. The asset’s market valuation is currently $20.15 billion.
- Bitcoin Cash jumped 10.31% to $866.11. The asset’s market valuation is currently $14.93 billion.
- EOS jumped 12.02% to $8.85. The asset’s market valuation is currently $7.92 billion.
- Stellar jumped 24.07% to $0.285276. The asset’s market valuation is currently $5.35 billion.
- Litecoin jumped 9.33% to $91.23. The asset’s market valuation is currently $5.24 billion.
- Cardano jumped 17.86% to $0.177998. The asset’s market valuation is currently $4.61 billion.
- IOTA jumped 5.60% to $1.13. The asset’s market valuation is currently $3.14 billion.
- Tether stays steady with a token price of $1. The asset’s market valuation is currently $2.71 billion.