Key Facts Of The Day 30.10.2018

Amazon Capitalization Drop Higher than Entire Crypto Market

Electronic commerce and cloud computing giant has lost more than $250 billion since hitting the $1 trillion key-achievement in early September.

The recent market sell-off had cost Amazon 25% from it's all-time maximum value of $2,050.50 the company achieved on September 3. Let’s clarify the numbers, we are talking about approximately $250B which is more than the total market capitalization of a whole crypto market cap that is currently standing at $203B.

First Islamic Crypto Exchange to be 100% Halal?

United Arab Emirates-based ADAB Solutions palms off with promises to launch the First Islamic Crypto Exchange (FICE). According to their website, the company has completed 6 out of 13 steps on their roadmap to becoming a fully operational ‘Halal’ Crypto Exchange.

According to DailyNews, the Islamic Finance Market has been growing 10-12% every year for the last ten years and will reach $3.5 trillion by 2020. At the same time in July 2018, Thomson Reuters, an analytics platform, has already estimated its value at $2.3 trillion.

Circle Stablecoin Gaining Momentum

Stablecoin USDC, which was launched by the bitcoin startup Circle, is gaining popularity. The stablecoin has been brought to the crypto market just about a month ago. Since then, tokens have been sold for more than $127 million. The USDC market capitalization has grown from $24 million to $126 million in just 2 weeks.

Last week, the American cryptocurrency exchange Coinbase announced the listing of USDC, which also added points to the popularity of the digital asset. Note that this was the first time that Coinbase has added a stablecoin listing. Coinbase Wallet's Product Lead Sid Coelho-Prabhu explained that stablecoin helps cryptocurrency to reach millions of users, bringing us one step closer to an open financial system. Also, supporting USDC has been added by BitPay processing bitcoin payments and OKEx crypto exchange.

What Else:

EEA has released a new set of specifications called Client Specification V2 and Off-Chain Trusted Compute Specification V0.5 at the conference DevCon4 in Prague.

Hong Kong-based Bitcoin exchange OKEx announced delisting over 50 trading pairs due to their low liquidity and volumes.

Dubai Blockchain Platform will be powered by IBM cloud environment will be used for government blockchain projects and offered to the private sector.

“Once everybody starts using it, they won’t even know the difference…”

At 17:50 (GMT) total cryptocurrency market capitalization stands at $202.98 billion

Dentacoin (+15.80%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $10,2 billion (-1.5 billion per day)

Mining Profitability

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