Market Update 7.01.18 – Startup Gets $600k To Fund Bitcoin Cash Mobile Wallet
Market News
Startup Gets $600k To Fund Bitcoin Cash Mobile Wallet
Blockchain startup CoinText.io is currently developing a way to perform offline Bitcoin cash transactions. Apparently, it managed to close down a funding worth $600k. The latter will reportedly be used to develop a mobile wallet that will be designed to support the aforementioned transaction. This is where transactions can be made via text messages, and no internet access or even wallet addresses are required.
According to Vin Armani, the CTO of the startup, the venture capital firm is poised to provide other forms of support. So apart from the financial aspect of it, there would be advice and guidance. The company’s mission is to make crypto an easy to use a great number of individuals. As of this writing, the startup is into providing services over eight countries, including Australia, Canada, and the U.S.
Read the full report here.
Tether Code ‘Flaw’ Deemed Exchange Error
Just a few days back, there were reports suggesting Tether’s dollar-pegged digital asset contained an error which can be exploited in order to allow double spending appear to be nothing but false. This was after the Slow Firm, a blockchain security firm that made the original claim, said that the exchange would require verification of transaction details.
The company, however, said that the problem had been used in an attack on a certain crypto exchange (unnamed). Experts say that if the claims are to be deemed true, then the impact would be significant. Keep in mind that USDT tokens were mainly used to the substitute for the American deal.
Read the full story here.
Apple Co-Founder Says Ethereum Will Outlive The Blockchain Hype
During an interview, Apple co-founder Steve Wozniak said that Ethereum has every potential to outlive the wrongful hype surrounding the blockchain technology. This is simply due to two things: smart contract protocol and base layer. Both basically enable developers to launch decentralized applications.
Wozniak added that it is almost hard to see any other major cryptocurrency – even the small ones – surviving the so-called blockchain bubble in the mid-term. For the Apple executive, the dotcom era was pretty much a bubble, an event which he thinks will also happen to blockchain. Furthermore, he believes that new projects will soon emerge with active developer communities and, more importantly, innovative solutions. The only catch, though, is that he only sees two blockchain networks surviving the ongoing blockchain bubble: Bitcoin and Ethereum.
Check out the entire report here.
Total Market Cap: July 1
The volume of trade in the crypto market reached $15.32 billion. The market’s capitalization, on the other hand, sat at$254.53 billion.
Bitcoin Price Analysis: July 1
In the past 24 hours, Bitcoin jumped 5.23% to trade at $6,352.85. The leading cryptocurrency’s trade volume was at$4.85 billion, while its market cap went up to $108.80 billion.
Ethereum Price Analysis: July 1
Ethereum’s price jumped 5.71% to trade at $446.98. As for the altcoin’s trading volume, it reached $1.58 billion; whereas its market capitalization hit $44.88 billion.
State of the Top 10 Cryptocurrencies: July 1
In the past 24 hours, all prices went up except Tether, which took the 10th spot.
- Bitcoin’s market price jumped 5.23% to $6,353.17, and its value in the market is $108.80 billion.
- Ethereum’s market price jumped 5.98% to $447.35, and its value in the market is $44.92 billion.
- XRP’s market jumped 3.87% to $0.4587660, and its value in the market is $18.01 billion.
- Bitcoin Cash’s market jumped 5.68% to $729.56, and its value in the market is $12.56 billion.
- EOS’s market price jumped 8.32% to $8.15, and its value in the market is $7.3 billion.
- Litecoin’s market price jumped 5.17% to $80.01, and its value in the market is $4.56 billion.
- Stellar’s market price jumped 6.47% to $0.190986, and its value in the market is $3.58 billion.
- Cardano’s market price jumped 11.48% to $0.135204, and its value in the market is $3.50 billion.
- IOTA’s market price jumped 4.55% to $0.987664, and its value in the market is $2.75 billion.
- Tether fell to the 10th spot, with a market price fell of 0.09% to $0.999395, and its value in the market is $2.71 billion.