Market Update 5.15.18 – World’s First Blockchain Deal Completed

| Publish date: 05/15/2018
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World’s First Blockchain Deal Completed

Banking giant HSBC announced that it had completed the world’s first trade finance deal that had been powered by Blockchain technology. HSBC is the world’s biggest trade finance company, and its first trade finance deal involved the shipment of soya beans from Argentina to Malaysia for food and agriculture behemoth Cargill.

The fact that this transaction was successfully completed now proves that Blockchain has the potential to operate in the global trade finance industry, which is currently worth about $9 trillion.

To read the rest of the story, click here.

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NASDAQ to Power Crypto Exchange

The NASDAQ stock exchange, second in size only to the New York Stock Exchange in terms of market capitalization, is going to provide the technology that is needed to power a cryptocurrency exchange. DX, the new centralized crypto exchange will be the first to work with the NASDAQ on this new platform.

According to DX’s Chief Executive Officer, Daniel Skowronski, the new exchange will be launched in June this year, and it will be the “one stop shop” to exchange digital as well as fiat currencies, hold coins as well as offer wallet services.

Read the full story here.

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Token Bridge to Connect Blockchains

Aion, born on the Ethereum blockchain, is now going independent. The new Aion Network is being built to create interoperability between blockchain networks. The project is looking at building a token bridge, which will allow tokens or digital assets to move between Blockchains. And the first bridge will be created between the Aion Network and the Ethereum network, where the Aion token currently operates.

Unlike the current option of creating copies by using smart contracts (as is being done by Kik’s new Blockchain and Ethereum), Aion proposes that there will be only one token moving between networks at any point in time. The way they will do this is by destroying the copies that would be created during the move between chains.

Find out more here.

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Total Market Cap: May 15

The trading volume went up slightly to $22.73 billion and market capitalization in the cryptocurrency market once again rose above the $400 billion mark to$405.54 billion.

Bitcoin Price Analysis: May 15

BTC’s price has gone up once again $8740.77, a gain of 4.03% from the same time yesterday. Trading volume went up marginally to $7.1 billion, and the digital token’s market value rose to $148.94 billion.

Ethereum Price Analysis: May 15

Ethereum’s price gained 4.05% to trade at $731.73 in the last 24 hours. ETH’s trading volume is now $2.82 billion and its market value has reached $72.67 billion.

State of the Top 10 Cryptocurrencies: May 15

The last 24 hours have brought some stability to the cryptocurrency market, with all the top ten digital assets gaining in price as well as market value. The biggest gainer was Litecoin, which rose by 6.96%. The top two cryptos also performed well, with BTC gaining 4.03% and ETH rising another 4.05%.

  • Bitcoin’s token price gained 4.03% to trade at $8740.77 and its market value is $148.94 billion at this time.
  • Ethereum’s token price gained 4.05% to trade at $731.73 and its market value is $72.67 billion.
  • Ripple’s token price gained 2.89% to trade at $0.743905 and its market value is $29.15 billion.
  • Bitcoin Cash’s token price gained 2.96% to trade at $1422.06 and its market value is $24.35 billion.
  • EOS’s token price gained 1.64% to trade at $14.24 and its market value is $12.19 billion.
  • Litecoin’s token price gained 6.96% to trade at $146.44 and its market value is $8.27 billion.
  • Cardano’s token price gained 2.27% to trade at $0.274464 and its market value is $7.11 billion.
  • Stellar’s token price gained 3.47% to trade at $0.366448 and its market value is $6.80 billion.
  • IOTA’s token price gained 2.63% to trade at $1.95 and its market value is $5.40 billion.
  • TRON’s token price gained 1.20% to trade at $0.072658 and its market value is $4.77 billion.
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