Market Update 4.12.19 – Thor Token Project Closes Down

| Publish date: 04/12/2019
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 Market News

Thor Token Project Closes Down

Project Thor, a San Francisco-based Blockchain project, is closing down as the project was unable to get traction and find commercial success. The announcement was made by the CEO and co-founder of the startup, David Chin, on April 9.

Built on the NEO Blockchain network, Thor announced its closure and said that it was due to the fact that it was unsuccessful at raising funds to offset its lack of sales. The company also stated that it had been unable to find a place where it could have benefitted from further resources. Chin also stated that the company had been unsuccessful to find a buyer so that the project could continue.

Read more about this story here.

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Polychain’s Assets Have Dropped $376 Million Since August 2018

The well-know venture capital fund Polychain’s assets under management were at $591.5 million at the end of the March 2019. This information was taken from a recent filing with the US SEC (Securities and Exchange Commission).

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However, this number is significantly lower than the company’s filing in August of 2018, which showed that the venture capital fund’s assets under management were at $967.8 million. Thus, this latest filing showed a $376.4 million drop in the company’s operations. Polychain is now no longer a billion-dollar operation.

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Digital Asset and VMware Enter into a Partnership

The company that created the smart contract programming language called DAML (Digital Asset Modelling Language), Digital Asset, has entered into a partnership with the cloud computing major VMware. The announcement was made on April 11 via a press release.

According to the press release, Digital Asset will integrate DAML onto VMware’s platform. This will reportedly allow for a larger reach as well as support in a combined offering. According to VMware’s senior director of Blockchain Michael DiPetrillo, Digital Asset’s DAML has proven to be one of the few languages that has the ability to model very complex workflows at scale.

Read the rest of the story here.

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Total Market Cap: Apr 12

The market’s capitalization in the last 24 hours has dropped to $170.05 billion. Trading volumes are $53.91 billion.

Bitcoin Price Analysis: Apr 12

Since yesterday, the price of Bitcoin has continued to drop, and it is now down by 2.51% to $5028.12. Capitalization is at $88.70 billion and the volumes of trade in BTC are at $15.25 billion.

Ethereum Price Analysis: Apr 12

ETH’s price continues to nosedive, falling 3.19% in the last one day to trade at its current $162.89. Capitalization is at $17.20 billion and the crypto’s volumes in trading are at $6.97 billion.

State of the Top 10 Cryptocurrencies: Apr 12

In the last 24 hours, the top listed cryptocurrencies have continued to decline. The biggest falls have been experienced by EOS, whose price has fallen by 4.98%, Stellar, which has lost 4.02% and Bitcoin Cash, which is currently down by 3.97%. Tether continues to gain, up by 0.10% and is now up one more spot to 7th place.

  • Bitcoin’s trading at $5028.12, falling 2.51%. At this time, the asset’s market cap is $88.70 billion.
  • Ethereum’s trading at $162.89, falling 3.19%. At this time, the asset’s market cap is $17.20 billion.
  • Ripple’s trading at $0.323670, falling 3.93%. At this time, the asset’s market cap is $13.52 billion.
  • EOS’s trading at $5.29, falling 4.98%. At this time, the asset’s market cap is $4.79 billion.
  • Litecoin’s trading at $77.77, falling 3.56%. At this time, the asset’s market cap is $4.726 billion.
  • Bitcoin Cash’s trading at $266.49, falling 3.97%. At this time, the asset’s market cap is $4.723 billion.
  • Binance Coin’s trading at $17.41, falling 0.58%. At this time, the asset’s market cap is $2.45 billion.
  • Tether’s trading at $1.01, rising 0.10%. At this time, the asset’s market cap is $2.32 billion.
  • Stellar’s trading at $0.113368, falling 4.02%. At this time, the asset’s market cap is $2.18 billion.
  • Cardano’s trading at $0.081728, falling 3.07%. At this time, the asset’s market cap is $2.11 billion.
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