Key Facts Of The Day 31.07.2018

Bitcoin Falls Below $7,800

Bitcoin once again dropped below a psychological mark of $8,000 and at the moment continues to fall passing $7,800 support zone. Almost all other coins in the top-100 are also trading in the red zone.

A remarkable drop in the newly stabled positions can be conditioned by the expiration of July’s Bitcoin futures contracts. The new contracts will be settled on August 1, while the old ones have expired on July 27.

Reportedly, one of the other possible reasons for the decline was HitBTC going offline for 5 hours due to the hardware malfunction, however, the issue is claimed to be resolved and no users’ funds were affected, as stated on the exchange’s twitter page. Right after, the 12th biggest crypto exchange in terms of daily trading volumes informed its clients of the short maintenance planned to be conducted today (July 31) starting 18:30 UTC.

Thomson Reuters Partners with CryptoCompare to Track Crypto Market

The Toronto-based Thomson Reuters Corporation (NYSE: TRI.NYSE) is set to cooperate with CryptoCompare, media focused on monitoring and analyzing cryptocurrency market data. As a result of the joint work, the companies plan to supply Thomson Reuters’ financial services for institutional investors Eikon with the data on trading 50 cryptocurrencies and orders books provided by a number of trading platforms.

WHY IS IT IMPORTANT?

1. Since its launch in 2010, Eikon has been Reuters’ major platform for the financial information. It operates with more than 400 exchanges and OTC-traded markets, as well as over 70 direct exchange feeds, delivered via low latency data feeds.

2. It is also one of the main market information terminals utilized by trading experts and brokers.

Chinese Bank Issues Blockchain-backed Loan

Agricultural Bank of China (ABC) has issued its first loan through a blockchain system for $300,000. One of the world’s biggest banks by assets held, by issuing the loan has completed a test of the blockchain system while taking a slice of agricultural land as a collateral. Due to the move, the government-owned ABC will now join the list of 12 Chinese banks that are currently working on blockchain technology.

WHY IS IT IMPORTANT?

1. Through using the blockchain ABC is hoping to make loans more available for farmers and businesses that use agricultural land.

2. The bank will look to take different forms of assets as collateral following the test, they would include real estate.

Dubai to Develop Blockchain Judicial System

The judicial system of Dubai will now get its own blockchain as Dubai International Financial Centre (DIFC) Courts has teamed up with Smart Dubai to develop the system. What is being dubbed as the first ‘Court of the Blockchain’, the platform will be tasked with verifying court judgments for cross-border enforcement.

WHY IS IT IMPORTANT?

1. Smart Dubai was established by UAE Prime Minister in order to aid Dubai in becoming the first blockchain-based government.

2. In May Department of Economic Development said it will develop a business registry platform based on blockchain technology. Dubai Immigration and Visas Department will also work on blockchain-based passports to streamline ID checking processing.

Steam Delists Cryptojacking Game After Complaints

Steam PC gaming platform known for housing an extensive range of computer games and developers has come under fire after a free game called Abstractism was singled out by users to mine cryptocurrency without their knowledge. The platform has deleted the game that was available since March 15 this year.

WHY IS IT IMPORTANT?

1. Last September, 200 games developed by Silicon Echo Studios were removed from Steam after they turned out to be fake. But turning computers into cryptocurrency miners during gameplay is new.

2. Steam is one of the largest gaming communities, as reportedly over 18 million people log on and 7 million of them play games on daily basis.

At 21:15 (GMT+1) total cryptocurrency market capitalization stands at $278,1 billion

Bitcoin (TICKER: BTC.EXANTE) $7777 (-3,77%)

Ethereum (TICKER: ETH/USD.BITFINEX) $435 (-3,91%)

XRP (TICKER: XRP.EXANTE) $0,43 (-1,94%)

Bitcoin Cash (TICKER: BCH.EXANTE) $778 (-3,30%)

EOS (EXANTE: EOS.EXANTE) $7,32 (-4,44%)

Verge (+5,96%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $15,1 (+0,2 billion per day)

Mining Profitability

BTC $3,4 for 10 TH/s

ETH $0,31 for 10 MH/s

BCH $0,29 for 1 TH/s

LTC $4,1 for 1 GH/s

DASH $0,11 for 1 GH/s

Ongoing ICOs:

Expected ICOs:

Click here for the full list of ongoing ICOs.