Market Update 12.11.18 – Stablecoin Adoption Growing

| Publish date: 12/11/2018
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Stablecoin Adoption Growing

According to a report published by the research company Diar, data from on-chain transactions shows that the adoption of stablecoins is growing. Diar stated that 4 major stablecoins have already broken through the $5 billion barrier on in-chain transactions in just the last three months. These four stablecoins are USDC, TrueUSD (TUSD), Paxos (PAX) and the Gemini Dollar (GUSD).

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According to Diar’s analysis, there was a mammoth 1,032% increase in on-chain transactions of stablecoins in the month of November compared to stablecoin transactions in September. In fact, last month, stablecoins crossed the $2.3 billion mark.

Read more about this story here.

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UNICEF Funding 6 Blockchain Startups

The United Nations International Children’s Emergency Fund (UNICEF) is investing $100,000 in six different Blockchain based startups to help solve global challenges. The startups that are being funded by the UNICEF are focusing issues ranging from transparency in the delivery of healthcare to managing resources as well as finances using Blockchain technology.

These investments are part of a larger program that is already funding 20 other tech startups. Each of these 6 new startups are based in developing countries such as Argentina, India, Mexico, Tunisia and Bangladesh.

Read more about this report here.

South Korea’s National Assembly Holds Crypto Debate

The South Korean National Assembly, the country’s representative body, held a debate on cryptocurrency regulation that had been arranged by the major local crypto exchanges. The topics of the debate had been proposed by the seven major cryptocurrency exchanges in the country – Bithumb, Coinone, CobitCoin, Coinplug, Gopax, Hanbitco and Upbit.

This debate was attended by industry as well as political majors and the Financial Services Commission (FSC) also sent a representative for this event. Prior to the debate, FSC gave a decision that banks would be allowed to serve crypto exchanges as soon as the exchanges were equipped with adequate Anti-Money Laundering (AML) and Know Your Customer (KYC) measures in place.

Find out more about this story here.

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Total Market Cap: Dec 11

After a day of gains, the cryptocurrency market once again has slipped, with capitalization going down to $111.32 billion. The trading volumes are at $13.37 billion.

Bitcoin Price Analysis: Dec 11

Bitcoin’s trading price is now $3505.43 per token, a 2.30% drop from yesterday. The cryptocurrency is seeing trading volumes of $4.94 billion and its market cap right now is $61.05 billion.

Ethereum Price Analysis: Dec 11

Ethereum’s token price is now $92.67, which is a 0.87% drop from yesterday. The altcoin’s trading volumes are at $1.67 billion and its market capitalization is $9.61 billion.

State of the Top 10 Cryptocurrencies: Dec 11

The ten most valuable cryptocurrencies in the market are all current trading in the red so far today. The biggest losers in the market are Bitcoin SV, which is down by 5.19%, followed by EOS, which has lost 2.77%, and Litecoin, which has dropped by 2.45%.

  • Bitcoin’s trading at $3505.43, losing 2.30% since yesterday. The crypto’s market worth is now at $61.05 billion.
  • Ripple’s trading at $0.308788, losing 0.38% since yesterday. The crypto’s market worth is now at $12.63 billion.
  • Ethereum’s trading at $92.67, losing 0.87% since yesterday. The crypto’s market worth is now at $9.61 billion.
  • Stellar’s trading at $0.119098, losing 1.90% since yesterday. The crypto’s market worth is now at $2.28 billion.
  • Tether’s trading at $1.01, losing 0.37% since yesterday. The crypto’s market worth is now at $1.88 billion.
  • Bitcoin Cash’s trading at $105.93, losing 1.37% since yesterday. The crypto’s market worth is now at $1.85 billion.
  • EOS’s trading at $1.92, losing 2.77% since yesterday. The crypto’s market worth is now at $1.74 billion.
  • Bitcoin SV’s trading at $93.69, losing 5.19% since yesterday. The crypto’s market worth is now at $1.63 billion.
  • Litecoin’s trading at $24.85, losing 2.45% since yesterday. The crypto’s market worth is now at $1.47 billion.
  • TRON’s trading at $0.013426, losing 0.40% since yesterday. The crypto’s market worth is now at $889.45 million.
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