The bull has continued his dominance this week in the crypt market, as the total market cap jumped another +6.0% from USD 326 billion to USD 346 billion in the last 24h. The solid performance of the markets has been across the board with an advance to decline ratio of 96/4. The surge in the market is led by a Monaco, which jumped from +59.4% to +109% as of time of writing, which most probably is a pump and dump action, as the trades on different exchanges are showing. Followed by Pundi X with 47.8% rise. But the markets are highly volatile currently. The 24h trading volume also maintained the robust momentum with volume increasing from USD 18.4 billion to USD 20.3 billion. Bitcoin gained +3.0% to USD 8,188, Ether added +4.8% to USD 532, while Ripple vaulted +8.8% to USD 0.73 in the last 24h, as of the time of writing.
The hottest news right now is the apparent exit scam of Savedroid and its founder, which recently raised EUR 40 million in their ICO. Their website just showed a South Park meme, with the sentence “Aaannnd it’s gone” and a Twitter post showed the picture of the founder Yasin Hankir on the airport and on the beach, with the words “Thanks guys, over and out #savdroidICO”. This appears very strange, as the german company has given a web tutorial just recently and was very active in communications. Some speculations have been around in the social medias, that the site was hacked or it could be a PR gag. But so far no news denying the exit scam by the company nor the founder. Major companies across all industries are embracing the Blockchain technology with open arms. The technology is about to make its mark in the Shipping Industry, as shipping major A.P. Moeller-Maersk and other container shipping lines have teamed up with technology companies to upgrade the world’s most complex logistics network. They expect to cut the cost of moving the goods across the continent. In a collaborative effort to test the Brave platform, the Dow Jones Media Group has teamed up with the Brave Software team. The two organizations announced that they will experiment with blockchain technology in the realm of digital advertising and media publication. Furthermore, Energy giant BP is considering a partnership with Blockchain startups that are doing initial coin offerings, and it has even tested tokens, Julian Gray, the technology director for BP’s digital innovation organization said. The largest player in the Blockchain technology, IBM along with Salon Media, is piloting a proof-of-concept Blockchain product created by AdLedger, a nonprofit consortium that develops shared ledger technologies for the digital advertising market, Marketing Dive. “The Campaign Reconciliation Project” leverages Blockchain tech to short-circuit intermediaries between advertisers, publishers, and consumers, which currently render the industry vulnerable to high-tech ad fraud, such as bot fraud and domain spoofing. In China, Telecommunications and Smartphone provider Huawei has become the latest tech giant in China to launch a blockchain-as-a-service (BaaS) platform announced at Huawei’s analyst conference in Shenzhen on Tuesday called dubbed Blockchain Service. Even the neighboring India doesn’t seem to remain behind as far as the Blockchain adoption is concerned. Chandra Kochhar, MD, and CEO at ICICI Bank, India’s largest private sector bank said that integration of Blockchain technology has the potential to streamline the documentation of trade by bringing stakeholders to a common platform, as Indian banking major ICICI Bank has consigned more than 250 corporates to its Blockchain platform for domestic and international trade finance transactions. The Bank of Japan has become the latest government financial institution to recognize the risks of state-issued cryptocurrencies. According to its Deputy Governor Masayoshi Amamiya, a national digital coin may jeopardize the traditional financial system established in developed countries. On a regulatory front, Biotech-turned-cryptocurrency company Riot Blockchain has received a subpoena from the US Securities and Exchange Commission (SEC) and may be delisted from the NASDAQ, acknowledged in a new public filing that the SEC is “requesting certain information from the Company” and that it intends to comply with the inquiry. Looking at the crypto space, Bitcoin is not a tool for money laundering, nor is it a “magnet” for other types of criminal activities, the office of the Quebec government’s chief scientist said in a newly-published article. The government found that there is no meaningful connection between Bitcoin and criminal activities.
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