Daily Cryptocurrency Bulletin For Monday, May 20, 2019

May 20, 2019 12:56 pm Published by

General News

ABB, the international electrical engineering company, has collaborated with Italian energy aggregator Evolvere to deploy a blockchain jointly developed with blockchain-based platform Prosume. The pilot will enable transparent and secure p2p energy transactions, as well research blockchain’s role in the smart grids market.

Bitstamp has launched an investigation after a large BTC sell order caused it to plummet 20% from around $7,800 to $6,250 in less than 30 minutes. The sell order led to a liquidation of $250 million long positions on BitMEX exchange. BTC has since rebounded to $8K.

Coinbase’s global users can win cryptocurrency just by learning about blockchain. The initiative, called Coinbase Earn, is now open to users in more than 100 countries and is set to hand out more than $100 million in  XLM, ZEC, BAT and 0x. 

Facebook has registered a new company, Libra Networks, in Geneva. Facebook Global Holdings is a stockholder in the new company, and it will, according to Reuters, “provide financial and technology services and develop related hardware and software.” This coincides with the roll-out of their internal cryptocurrency. US lawmakers have sent an open letter to the company seeking clarification on the currency’s purpose and implications.

Cryptocurrencies

Bitcoin’s $7,924.54 USD (-1.35 percent) recent rally has soared significantly past its intrinsic value, according to JPMorgan Chase strategists. The strategists analyzed Bitcoin as a commodity and calculated its cost of production based on parameters such as estimated computational power, electricity costs and hardware energy efficiency. 

Bitcoin Cash’s $406.77 USD (-0.96 percent) hashrate has is close to being controlled by one single entity, BTC.topBTC.top briefly had control of 54% of the hashrate; giving the power to double spend BCH, halt transactions and launch a 51% attack. 

Binance Coin $28.65 USD (-2.63 percent) has registered a new all-time high as it has now surged over 16,000% since inception.

Ethereum $250.64 USD (-2.58 percent): SprinkleXchange, a stock exchange built on Ethereum, is listing its first company next month. Operating within a regulatory sandbox created by the Bahrain’s central bank, the platform uses a decentralized clearing and settlement system, reducing time and cost. SprinkleXchange aims to attract companies with a market cap of $20-$200 million and expects to list 35 companies over the next 12 months. The firm will also offer trading in cryptocurrencies and plans to add ETFs in the future.

Litecoin $91.70 USD (-2.68 percent) could soon be gaining support from Flexa Co-Founder Trevor Filter company’s payment app Spedn. Filter retweeted a call from Litecoin creator Charlie Lee to add LTC to the platform. Major retailers including Whole Foods, Nordstrom and Crate and Barrel are some of the names adopting the app.

Ripple $0.398022 USD (-2.05 percent) CEO Brad Garlinghouse announced the company’s XRP-powered cross-border payment solution xRapid is up and running in both Argentina and Brazil. Meanwhile, Ripple-backed crypto startup Kava Labs has released tech specs on a stablecoin that would be pegged to the US dollar and collaterised with XRP.

Stellar $0.136107 USD (-2.66 percent) will soon be gaining support from SatoshiPay, which has been working on designing micro-payment apps for the Stellar Network.

WN.com, Jamie Saarloos

 



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