After consolidating around USD 135 billion market cap, over the last fortnight, the crypto markets surged ahead over the weekend reaching a market cap of USD 141 billion. However, the market cap slipped in the last one hour of trading to USD 140 billion. Although still robust, the 24h trading volumes came in slightly below the last week as it is in a USD 28 billion range. There were no bumper gains in the top 100, nonetheless, the advance to decline ratio was strong at 66/34. GXChain was the best performer in top 100, with +13.6% jump, followed by KuCoin Shares (+10.6%), and WAX (+9.0%). Bitcoin is marginally up +0.1% to USD 4,019 while Ether and XRP (-0.4% each) are slightly down at USD 140, and USD 0.3165, respectively in the last 24h. Crypto.com Chain Token (CRO), the digital currency native to the new Crypto.com Chain, has been the standout performer from the beginning of this month. Its market cap has shot up more than 10.0x to USD 488 million, since March 03, 2019. Although, CRO’s market cap has tapered a bit since it reached the highest point of around USD 488 million on March 15, 2019, it still remains at an elevated level. The thurst has ensured that CRO has entered in the top 25 list and now stands at 22nd position, by market cap. The token seems to have benefitted from listing announcements on Bittrex and Indodax. Furthermore, the Crypto.com Chain team also announced that it had partnered with an Indonesia-based dropship e-commerce company Yoshugi Media Group in addition to another announcement of listing on another crypto exchange, Upbit.
Intercontinental Exchange posted a tweet earlier this week teasing the expansion of its Cryptocurrency Data Feed service to include thousands of cryptocurrencies and hundreds of data sources while on regulatory front, the Governor of the State of Colorado has signed an act which is digital currency friendly known as ‘Colorado Digital Token Act’. In blockchain applicationin the insurance industry, Insurance giant AXA XL and insurance technology startup Assurely have jointly launched a new insurance product covering equity crowdfunding and Security Token Offerings while in China, insurance giant Ping An has partnered with Ethereum (ETH)-based decentralized artificial intelligence (AI) startup SingularityNET. Acording to a new report by BlockData, blockchain money transfers are 388x faster and 127x cheaper than legacy financial systems – shedding new light on how blockchain-based financial solutions are poised to disrupt the remittance system status quo.
Have a great day !
Your Blocksmatter Team