Market Update 12.28.18 – US Defense Says Blockchain Helps Disaster Relief

| Publish date: 12/28/2018
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US Defense Says Blockchain Helps Disaster Relief

As far as the U.S. Department of Defense is concerned, it is confident that blockchain technology offers “enormous” potential when it comes to improving disaster relief efforts. The Troop Support division of the Defense Logistics Agency recently conducted a meeting in Philadelphia in order to understand how the technology could help its already “successful” efforts assisting in Puerto Rico.

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It is worth noting that the country got devastated after Hurricane Maria’s arrival in 2017. The meeting, in particular, was hosted by Troop Support’s Continuous Process Improvement (CPI) office.

“The potential is absolutely enormous,” said CPI management analyst Elijah Londo, according to a DLA report of the event. “Talk about blockchain, and you’ll hear experts comparing it to transforming trust or transactions in the same way the internet changed communication.”

Read the full report here.

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Litecoin Brings Sponsorship Deal To UFC

The Litecoin Foundation has just recently partnered with the titular Ultimate Fighting Championship (UFC). The latter is hailed as one of the leading mixed martial arts organizations across the world. The partnership, in particular, is put in place in order to promote the digital currency.

The deal will basically bring the Litecoin logo displayed on the octagonal fighting canvas at an upcoming event called UFC 232. The said event is none other than the highly anticipated rematch between former UFC light heavyweight champion Jon Jones and light heavyweight Alexander Gustafsson and is set to take place on Dec. 29 in California.

Claiming to be the first crypto sponsor for a UFC event, Litecoin Foundation said Thursday that the “millions of viewers” at such events would help raise global awareness and drive interest in the cryptocurrency.

Read the full report here.

BTC-Supporting Firm Square Reaches New Milestone

United States-based Bitcoin (BTC)-supporting payments firm Square has just reached a new milestone. That is because it has been named Yahoo Finance company of the year. According to the official report, the$26 billion market cap payments company, which was founded by Jack Dorsey and Jim McKelvey in 2009, has experienced its stock go up 72 percent through Dec. 14.

To put it simply, its shares were up 170 percent through the end of September, which was particularly before the wider market downturn. It should be noted that Square first revealed in November 2017 that it would release a Bitcoin trading option to a select 3 million of its Square Cash App customers. Interestingly, the big reveal resulted in the jump of its stock to $1 billion in just five days.

Read the full report here.

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Total Market Cap: December 28

The volume of trade in the crypto market sat at $15.37 billion. The market’s capitalization, on the other hand, reached $121.95 billion.

Bitcoin Price Analysis: December 28

In the past 24 hours, Bitcoin fell 3.50% to trade at $3,667.20. The leading cryptocurrency’s trade volume trickled to $4.96 billion, while its market slid to $63.99 billion.

XRP Price Analysis: December 28

XRP’s price fell 3.96% to trade at $0.351970. As for the altcoin’s trading volume, it reached $612.39 million; whereas its market capitalization hit $14.36 billion.

State of the Top 10 Cryptocurrencies: December 28

In the past 24 hours, all prices were up down except for Tether’s. Meanwhile, TRON continues to dethrone Cardano at the 10th spot.

  • Bitcoin’s market price fell 3.50% to $3,667.20, and its value in the market is $63.99
  • XRP’s market price fell 3.96% to $350970, and its value in the market is $14.36 billion.
  • Ethereum’s market price fell 5.48% to $88, and its value in the market is $12.37 billion.
  • Bitcoin Cash’s market price fell 09% to $168.79, and its value in the market is $151.76 billion.
  • Stellar’s market price fell 72% to $0.111885, and its value in the market is $2.14 billion.
  • EOS’ market price jumped 72% to $2.36, and its value in the market is $2.14 billion.
  • Tether’s market price fell 1.03% to $1.02, and its value in the market is $1.90 billion.
  • Litecoin’s market price fell 41% to $28.87, and its value in the market is $1.73 billion.
  • Bitcoin SV’s market price fell 65% to $84.87, and its value in the market is 1.73 billion.
  • TRON dethroned Cardano at the 10th spot, but its market price fell to 5.48% to $0.018859. As for its value in the market, it is $1.27million.
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