Market Update 9.10.18 – NSW Putting Driver License Program on Blockchain
Market News
NSW Putting Driver License Program on Blockchain
According to the latest news reports, the government of the Australian state of New South Wales (NSW) is going to use Blockchain technology to digitize its driver license program that is expected to be launched in November.
The NSW government announced that it was going to conduct a pilot for about 140,000 new license holders in their state before finally rolling out the formal version in 2019. According to Secure Logic, the Australian tech company that is a part of this project, the idea is to use the Blockchain platform to underpin this effort and ensure that data is secured in a distributed manner.
Find out more here.
Chinese Still Trading in Crypto despite Ban
According to local media outlets, Chinese traders are still active in the cryptocurrency trading market. This is because these traders are using virtual private networks (VPNs) to avoid the bans that the Chinese government has placed on cryptocurrency trading platforms.
The South China Morning Post (SCMP) reports that traders are also using the stablecoin Tether to gain entry and egress into cryptocurrency markets. When combined through a VPN, two Chinese traders can use a crypto exchange platform that is registered outside their country to trade cryptos for fiat currencies and vice versa.
Read more about this story here.
Before TRON, BitTorrent Was Courted by Many
It seems that there were a number of crypto-based startups that had been looking at acquiring BitTorrent before TRON finally closed the deal. Besides just TRON and NEO, Icon, the governance-focused Blockchain project, as well as Protocol Labs, the creators of Filecoin, had also held discussions with BitTorrent in a bid to acquire the company. According to other sources, there were still another two unnamed crypto startups that were also in the running to acquire this company.
Based on some internal documents acquired by the media, BitTorrent only initiated negotiations for its acquisition after the founder of TRON, Justin Sun reached out to BitTorrent’s biggest shareholder, DCM.
Find out the details of this story here.
Total Market Cap: Sep 10
Trading volumes in the cryptocurrency market at the beginning of the week are at $11.29 billion, while the capitalization of the market is at $196.02 billion.
Bitcoin Price Analysis: Sep 10
Bitcoin’s current price is at $6338.24, a 1.67% climb in the last 24 hours. The digital currency’s market capitalization is $109.79 billion, with trading volumes of $3.73 billion.
Ethereum Price Analysis: Sep 10
Ethereum’s trading price is $198.43, a 3.53% climb since yesterday. The market valuation of ETH is now $20.10 billion and its trading volume is $1.56 billion.
State of the Top 10 Cryptocurrencies: Sep 10
After the debacle last week that continued through the weekend, the cryptocurrency market has started this week on a slightly positive note. Most of the cryptocurrencies in the top ten list are up on their prices as well as capitalization, the 3 exceptions being XRP, which lost 2.17%, XLM, which dropped 0.98% and ADA, which fell 1.81%.
- Bitcoin’s token price is now $6338.24, climbing 1.67%. The cryptocurrency’s market valuation is currently $109.79 billion.
- Ethereum’s token price is now $198.43%, climbing 3.53%. The cryptocurrency’s market valuation is currently $20.10 billion.
- Ripple’s token price is now $0.274300, going down by 2.17%. The cryptocurrency’s market valuation is currently $10.87 billion.
- Bitcoin Cash’s token price is now $481.03, climbing 1.26%. The cryptocurrency’s market valuation is currently $8.34 billion.
- EOS’s token price is now $5.02, climbing 4.24%. The cryptocurrency’s market valuation is currently $4.55 billion.
- Stellar’s token price is now $0.193439, going down by 0.98%. The cryptocurrency’s market valuation is currently $3.63 billion.
- Litecoin’s token price is now $54.18, climbing 0.91%. The cryptocurrency’s market valuation is currently $3.15 billion.
- Tether’s token price is now $1.01, climbing 0.56%. The cryptocurrency’s market valuation is currently $2.77 billion.
- Cardano’s token price is now $0.075495, going down by 1.81%. The cryptocurrency’s market valuation is currently $1.95 billion.
- Monero’s token price is now $107.65, climbing 2.27%. The cryptocurrency’s market valuation is currently $1.76 billion.