Market Update 6.05.18 – Qulian Technology Completes Series B Funding
Qulian Technology Completes Series B Funding
The China-based Blockchain platform development company, Qulian Technology announced that it was completed its Series B Funding round, collecting 1.5 billion Chinese yuan ($234 million) through it. The size of the funding make this one of the biggest traditional funding rounds in the Blockchain sector so far.
This news comes a week after the main investor in the project, Xinhu Zhongbao, a real-estate and finance firm listed on the Shanghai Stocks Exchange, announced its intention to invest in Qulian. In its filing with the Shanghai Stock Exchange, the real estate company indicated that it planned to invest 1.23 billion Chinese yuan ($192 million) in the tech company, of which $17 million would be a transfer of capital and the rest would be in new equity.
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Google Searches for “Bitcoin” Down 75%
According to date by Google Trends, searches for “Bitcoin” on the web has dropped by 75% since the beginning of this year. In fact, the data revealed that the searches had actually halved in just the last three months. According to the co-founder of Datatrek Research and Bitcoin analyst, Nicholas Colas, the decline in web searches for the cryptocurrency is directly related to the decline in Bitcoin’s token prices, which have correspondingly dropped by more than 50% in the same time period.
But it isn’t only Bitcoin’s popularity that has decreased. According to Google Trends, searches for other cryptocurrencies are also falling. Searches for Ethereum have dropped by 70% since the beginning of the year.
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More Crimes Committed with Fiat Currencies than Cryptos
According to the ex-US Federal Prosecutor, Mary Beth Buchanan, the negative connotations around cryptocurrencies need to be gotten rid of. While speaking in a panel discussion at the Money20/20 Europe conference on Monday in Amsterdam, Buchanan underlined the fact that a lot more crimes have been committed with fiat or traditional currencies than with cryptocurrencies.
She said that in the 21 years that she served with the US Justice Department, she saw a lot more crimes related to fiat currencies than cryptos. She said at least cryptocurrencies could be traced; fiat currencies, once stolen were pretty much untraceable.
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Total Market Cap: June 05
Global cryptocurrency trading volumes are now at $16.04 billion, and capitalization of the crypto market is at $337.45 billion.
Bitcoin Price Analysis: June 05
Bitcoin fell 2.32% in the last 24 hours to trade at $7452.61. The trading volume in BTC is $4.73 billion and its market cap is $127.21 billion.
Ethereum Price Analysis: June 05
Ethereum lost 2.55% since yesterday to trade at $592.91. Trading volume is $1.88 billion and ETH’s market value is $59.38 billion.
State of the Top 10 Cryptocurrencies: June 05
Markets stayed low for the second day of the week too, with almost all of the top ten cryptocurrencies falling in price. Ripple made a marginal gain of 0.01%, while EOS traded flat at $14 per token. The rest of the cryptocurrencies fell, with the biggest lost being suffered by Stellar, which saw a decline of 3.31%.
- Bitcoin’s price fell 2.32% to $7452.61 and its market capitalization is $127.21 billion.
- Ethereum’s price fell 2.55% to $592.91 and its market capitalization is $59.38 billion.
- Ripple’s price gained 0.01% to $0.666 and its market capitalization is $26.13 billion.
- Bitcoin Cash’s price fell 3.80% to $1092.88 and its market capitalization is $18.76 billion.
- EOS’s price stayed flat $14 and its market capitalization is $12.54 billion.
- Litecoin’s price fell 3.04% to $118.11 and its market capitalization is $6.71 billion.
- Cardano’s price fell 1.88% to $0.212208 and its market capitalization is $5.50 billion.
- Stellar’s price fell 3.31% to $0.287650 and its market capitalization is $5.34 billion.
- IOTA’s price fell 1.71% to $1.72 and its market capitalization is $4.77 billion.
- TRON’s price fell 0.65% to $0.059162 and its market capitalization is $3.88 billion.