Bitcoin Takes New Heights
On July 24 the price of the most popular cryptocurrency Bitcoin has overcome first the psychological mark in $7800, and then in $8000, consolidating the positions that were achieved during the previous week.
WHY IS IT IMPORTANT?
1. The market capitalization of the coin exceeded $139bn. The index of the market dominance of cryptocurrencies reached the values of December 2017 and now makes 46.9%.
2. Bitcoin overcame the mark of $7,500 over the weekend. At the same time, altcoins’ courses from the top-20 grew. Now, most of the cryptocurrencies also follow the dynamics of the BTC.
Google Cloud Will Incorporate Blockchain
The Digital Asset startup, led by the former top manager of JPMorgan Chase Blythe Masters, has entered into a partnership with Google Cloud. Digital Asset will provide tools and services to developers of blockchain-based solutions that interact with the infrastructure of the Google Cloud platform within the partnership.
WHY IS IT IMPORTANT?
1. Digital Asset is stable, cooperation with the Google Cloud platform will greatly facilitate the life of solutions developers based on the blockchain.
2. Collaboration with Google Cloud will provide developers with a comprehensive set of solutions that will enable them to fully discover the innovative potential of the blockchain.
US Chamber of Commerce in Need for ICO regulation
The US Chamber of Commerce is interested in the initial coin offerings (ICO). Novice companies should have access to this method of obtaining financial resources. However, this process should be controlled by regulators. In its statement, the organization claims that the authorities are significantly late in regulating the market of сryptocurrencies and ICO.
WHY IS IT IMPORTANT?
1. Recently the US Chamber of Commerce and Industry launched the FinTech Innovation Initiative. The main idea of the program is the development of the cryptocurrency market and sales of tokens. This, according to the initiators of the movement, is among eight fundamental principles of FinTech striving to overcome the differences between technology and Washington.
2. The US Chamber of Commerce also proposes to formulate the criteria that identify coins as securities. Such step will allow firms to work in a predictable and clear market environment.
China Will End Illegal Mining
The Chinese authorities intend to put an end to the illegal activities for bitcoin mining in the Xinjiang Uygur Autonomous Region until the end of August. Mining without a license and the use of electricity without entering into contracts with its suppliers fall under the category of illegal mining according to the documents.
WHY IS IT IMPORTANT?
1. Local public utilities and companies will be held accountable if they cannot stop illegal mining operations.
2. In January this year, Chinese authorities ordered the electricity suppliers from Xinjiang Province to report regularly on the activities of local companies engaged in bitcoin mining. This decision largely affected the activities of mining companies that carry out operations in this region.
GE Invests To Improve Cybersecurity Through Blockchain
The subsidiary of the American industrial giant General Electric (GE) (NYSE: GE) GE Ventures, has participated together with March Capital Partners, City Light Capital, and NexStar Partners, in the fundraising round of Series A of the cybersecurity startup Xage, in which it has managed to raise $12M.
WHY IS IT IMPORTANT?
1. Xage uses blockchain technology to connect industrial devices to the Internet of Things (IoT) safely. After finishing the fundraising, the company is planning to widen its area of the appliance to the national level. Currently, the company is operating in the fields of telecom, manufacturing, utilities, energy and building management.
2. Before the fundraising round, Xage's valuation amounted to $35 million. It should be noted that this round of financing coincides with the increase in cyber attacks.
At 20:00 (GMT+1) total cryptocurrency market capitalization stands at $300,1 billion
Bitcoin (EXANTE: Bitcoin) $8248 (+6,56%)
Ethereum (ETH/USD) $477 (+4,85%)
XRP (XRP/USD) $0,45 (+2,17%)
Bitcoin Cash (EXANTE: Bitcoin.Cash) $852 (+7,76%)
EOS (EOS/USD) $8,53 (+7,29%)
Mithril (+21,53%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $38 billion (+23,1 billion per day)
Mining Profitability
BTC $3,9 for 10 TH/s
ETH $0,35 for 10 MH/s
BCH $0,41 for 1 TH/s
LTC $4,7 for 1 GH/s
DASH $0,13 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
Click here for the full list of ongoing ICOs.
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