Weekly Market Snapshot - July 15, 2019
Blockchain.News Market Update - July 15, 2019
Here is what you need to know about the crypto market last week!
Weekly Snapshot of the top Cryptos
| # | Coin | Symbol | Market Cap. | Price (US$) | Price % (7D) | Trading Vol. (7D) |
|---|---|---|---|---|---|---|
| 1 | Bitcoin | BTC | 180.18 bn | $10112.24 | -11.7% | 157.87 bn |
| 2 | Ethereum | ETH | 23.24 bn | $217.38 | -28.89% | 55.73 bn |
| 3 | XRP | XRP | 12.88 bn | $0.3 | -23.42% | 9.88 bn |
| 4 | Litecoin | LTC | 5.49 bn | $87.59 | -26.68% | 23.86 bn |
| 5 | Bitcoin Cash | BCH | 4.95 bn | $276.54 | -32.49% | 11.17 bn |
Source: Blockchain.News Data and CoinMarketCap, as of 15 July 2019
Coin of the Week
Our Coin of the Week goes to USDT! Tether accidentally minted and subsequently burnt 5 billion USDT tokens on 13 July. Tether CTO Paolo Ardoino tweeted that Tether meant to perform a swap of 50 million Omni-based USDT tokens to Tron blockchain, yet they made a mistake on the decimals.
Top News to Watch
Donald Trump is “Not a Fan” of Bitcoin and Crypto, Citing High Volatility
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money.” Donald Trump tweeted on 11 July.
Exclusive: Bitcoin - The Killer App in Africa and Latin America?
We are glad to have an in-depth interview with Ray, CEO of Paxful on Paxful’s strategies into Africa and Latin America. He also explained the biggest challenge in driving Bitcoin adoption: how to deal with scammers!
Exclusive: Arbitrage - the Key Business Opportunity Brought by Blockchain
Following the latest update of Paxful, Ray took a step back and shared to us his inspiration to set up Paxful and what he learnt from 11 failed startups! He then identified arbitrage as the key business opportunities by blockchain and instead of decentralization, peer to peer should be the core value preposition of Bitcoin!
What are the 5 Pillars of DeFi Ecosystem?
Hosted by Asia Blockchain Society, Loopnest and PiedPiper, over 50 blockchain enthusiasts gathered the DeFi meetup held in AIA Tower, Hong Kong. The meetup explores the opportunities and challenges faced by decentralized finance and security token offerings (STO).
Exclusive: Did Facebook Copy Hedera Hashgraph's Governance Model?
When Facebook released Libra’s whitepaper, Hedera Hashgraph allegedly “thanks” Facebook for imitating their governance model. What is the story behind?
Exclusive: How Significant is Consensus As-a-service Model?
While Amazon and Microsoft launched Blockchain as-a-service (BaaS) platform in 1H 2019, Hedera Hashgraph collaborated with IBM to launch consensus as-a-service model! Is this the next upcoming tech trend for giants to follow?
The IRS Plans to Require Tech Giants Provide User Crypto Activity
The United States’ Internal Revenue Service (IRS) is allegedly planning to require corporate giants such as Apple, Google and Microsoft to provide the taxpayer’s download history of cryptocurrency applications, as revealed in the tweet and reportedly the presentation from IRS on 9 July.
Bitcoin Hash Rate Hits New Record High
The hash rate of Bitcoin (BTC) hits a new breaking record, as revealed by the statistics of Blockchain.com.
ECB Coeure: Facebook’ Libra is Too Dangerous in the Regulatory Void!
The European Central Bank Executive Board member Benoit Coeure urged the financial regulators to take prompt actions regarding the advent of Facebook’s Libra coin, as reported by Bloomberg on 7 July.
US SEC Approved the First-Ever Token Offering In History
The United States Securities and Exchange Commission (SEC) approved the first token offering to blockchain-based startup Blockstack under the SEC Regulation A+, as revealed in the company’s announcement. Blockstack will start its SEC-approved token sale of USD 28 mn today.
Amazon, Deloitte and Fidelity Enter New Initiatives to Support DLT Startups
Blockchain startup accelerator, Startup Studio program now partners with over 20 leading corporate giants such as Amazon, Deloitte and Fidelity, as announced in the press release of IDEO CoLab.
US SEC and FINRA Issued Latest Custody Guidance on Digital Assets Securities
The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) issued a statement addressing regulatory issues regarding the custody of digital asset securities on 8 July.
Exclusive: How Traditional Finance Can Help Crypto to Gain Trust and Adoption?
How traditional finance can help crypto to gain trust and adoption? Spoken in Next Block Asia, Bangkok, Matthew Lam of Blockchain.News moderated the panel discussion and shared his insights with the following speakers in the pain points of crypto in trust and adoption, as well as future of Facebook Libra and the killer dApp in financial markets.
Regulating LIBRA: The Transformative Potential of Facebook’s Cryptocurrency and Possible Regulatory Responses
This paper addresses how to regulate the first private cryptocurrency – Libra, which have the potential to change the worldwide payment and monetary system landscape. The paper also introduces and analyses the potential response from regulators worldwide on the Libra project.
Week Ahead
Blockchain Gamer & Pocket Gamer Connects Hong Kong 2019
Date: 17 - 18 July
Venue: The Cyberport Arcade ,Cyberport Road, Hong Kong
Theme: Leading mobile gaming industry conference, Pocket Gamer Connects, makes its exciting Hong Kong debut in 2019 - bringing our hugely successful event series to a thrilling new location. More than 500 delegates will gather in this vibrant destination to hear from 125 of the world’s leading authorities from the mobile gaming industry. Filling 15 wall-to-wall conference tracks across both days, they will share their expert insight on everything from live ops to monetisation to the latest development trends.