Bitcoin Cash Hard Forks to Increase Block Size
A Bitcoin Cash update went live on Tuesday, increasing the block size from 8 to 32 MB and reactivating the OP codes, which provide the possibility of creating smart contracts in the future. According to Reddit, their activation will not only return the tools to create smart contracts, but will also make other innovative features available. The market’s reaction to this was less than enthusiastic – the BCH rate (Bitcoin.Cash) went down more than 11%.
Circle Valuation Grows to $3 Billion
Circle, the mobile payments and cryptocurrency trading firm, announced the successful closing of a financing round that managed to attract $110 million, according to Bloomberg. The campaign was led by Bitmain, one of the world’s largest Bitcoin mining equipment manufacturers. Following the investment, Circle's market valuation went up to $3 billion, up from a reported $480 million in 2016. Bitmain and Circle are now partners in developing fiat-based cryptocurrencies, the first of which, Circle’s USDC, will be backed by the U.S. dollar at a one-to-one rate. The currency’s launch is set for this summer.
HTC Announces Blockchain-Powered Smartphone
Taiwan's technology giant unveiled the HTC Exodus, an Android-based device adapted to support distributed applications across multiple blockchains, including Bitcoin and Ethereum, according to PCMag. "I want to see a world where the end consumers can truly own their data—browsing history, identity, assets, wallets, emails, messaging—without the need for central authorities," commented HTC Vive creator Phil Chen.
Mitsubishi UFJ Introduces MUFG Coin
Japan’s largest bank MUFG, Mitsubishi UFJ Financial Group’s banking unit, announced a trial run for its own cryptocurrency, MUFG Coin, in 2019, NHK Japan reported on Tuesday. MUFG outlined its intentions of launching a token in January this year, becoming the first Japanese bank to do so.
100.000 account holders that applied to take part in the project will use an app to convert their money into MUFG Coin. The conversion rate will be pegged to the yen at a 1:1 rate.
MUFG Coin is intended for ordinary retail payments and currency transfers between other participants.
eToro Trading Platform Expands to U.S.
World-leading social trading network and cryptocurrency exchange eToro, headquartered in Tel-Aviv, Limassol and London, plans to compete with U.S. trading platforms in the second half of this year, eToro Chief Executive Officer and co-founder Yoni Assia announced on Tuesday. eToro’s U.S. headquarters will be based in New Jersey. The company is already registered with the Financial Crimes Enforcement Network as a money transmitter.
Wind Wide Coin Shut Down By Texas Authorities
Travis J. Iles, Texas Securities Commissioner, signed an emergency cease and desist order against Wind Wide Coin, a cryptocurrency trading platform, on Tuesday.
While Wind Wide Coin positioned itself as a legally registered, private investment and trading site for cryptocurrencies, authorities have clearly outlined the firm’s violations, which include not being registered in the state and intentionally misleading investors with deceptive statements.
Total cryptocurrency market capitalization stands at $376 182 872 400
Bitcoin (Bitcoin) is down 5,68% to $8 247,21 Ethereum (ETH/USD) is down 5,72% to $690,06 Ripple (XRP/USD) is down 8,08% to $0,683511 Bitcoin Cash (Bitcoin.Cash) is down 11,81% to $1 256,13 EOS (EOS/USD) is down 13,86% to $12,24
Click here for the full list of ongoing ICOs.
By Nadya Astam