Tuesday, December 18, 2018
Home » Tag Archives: Crypto Market

Tag Archives: Crypto Market

Feed Subscription

What Caused the Recent Sharp Decline of Crypto Market Capitalization?

  By David Drake   The cryptocurrency market by its nature is unpredictable and has recently experienced a major downfall. By close of 2017, the value of Bitcoin and Ethereum rose to the highest point with Bitcoin reaching a high of almost $20,000. This high value of Bitcoin caused some countries to introduce cryptocurrency regulations to curb speculation in the industry. This, however, has not been the case in 2018. Trading in digital assets has been below those recorded in 2017 and have deteriorated further in the recent past. The total value of Bitcoin dropped significantly as its price dropped to below the $4000 mark last month. Its fall has had an adverse effect on the crypto market, triggering a drop in the value of other digital currencies to their lowest point ever. Key Triggers The cause of the cryptocurrency price crash may be difficult to pinpoint but several factors ... Read More »

How HTC’s Blockchain-based Phone Excludes Non-Crypto Holders

  By David Drake   The recent IMF report that showcased the various other ways blockchain technology can be used has inspired the mobile technology industry which has led to the HTC launching of the Exodus 1 Model smartphone late in October 2018, which comes equipped with its own crypto-safe feature. There is, however, one major drawback – this phone can only be purchased with cryptocurrencies. This new model is part and parcel of the new face of HTC, which aims to make intellectual and property software its top priorities. The Exodus 1 is HTC’s flagship brand under a new blockchain-focused drive. The phone manufacturer has struggled of late with sales, and sold most of its assets to Google in 2017. With Exodus, HTC has hopes it will usher in a new era of innovation for the company. The Features HTC phones run on android operating systems. However, Exodus 1 ... Read More »

The Real Reason Behind the Crypto Market Nosedive

  By David Drake   Despite aggressive predictions by financial pundits on the expected turnaround of digital coins, the cryptocurrency market hit a major road bump last month when its market capitalization fell by $42 billion. For the first time since inception, this drop landed the already crippling digital market capitalization below the $200 billion mark. At the beginning of the year, the total value of the crypto market stood at $835 billion. The Securities and Exchange Commission (SEC) recently cracked down on the heads of two initial coin offerings (ICOs) that had been accused of breaking the law by engaging in the sales of unlicensed securities. These companies will face a fine and will likely have to provide restitution. This event could send investors running scared, though the reaction by the regulator is hardly a surprise. The Causes Initial interest in cryptocurrencies has been driven by their transparent and ... Read More »

What are Most Possible Causes for the Recent Crypto Market Crash?

  By David Drake   The cryptocurrency industry has just had a major setback in its efforts to regain the highs witnessed by the market in 2017. This is after it experienced one of the biggest market crashes in recent times that saw bitcoin price plummet below the $4000 mark. The crypto market crash was so intense to the extent that, in just about a week, the cryptocurrency market capitalization lost over over $42 billion. As cryptocurrency investors come to terms with the loss and potential investors continue to monitor industry developments from afar, it is important to analyze the reasons underlying this market to crash. Bitcoin’s Influence One key factor behind the crypto market crash is bitcoin’s influence over the market. According to coinmarketcap, bitcoin contributes to about 52% of the total market capitalization. As such, any sharp changes on its price will directly affect the total cryptocurrency market ... Read More »

How London-based Exchange is Tapping Africa’s Cryptocurrency Potential

  By David Drake   Binance has triggered competition on the African continent and Luno, a London-based cryptocurrency platform, is taking up the challenge. Luno announced plans to expand its operations to Uganda just weeks after Binance launched operations in the East African country. Marius Reitz, head of Luno’s South African division promises an aggressive strategy that will target 18 African countries. Luno is already established in South Africa and other regions such as Nigeria, South-east Asia, and Europe. Reitz, however, remains tight-lipped on which countries on the continent will be explored in this new strategy. The Triggers As a continent, Africa – much like the rest of the world, has not remained unaffected by the cryptocurrency movement. In fact, Luno conducted and published a survey that revealed that 69 percent of respondents from South Africa are already aware of cryptocurrencies and 29 percent of those respondents own them. According ... Read More »

Why Africa is Rife for Blockchain Technology

  By David Drake   Active public awareness efforts to make people understand the benefits of blockchain technology and the value in cryptocurrencies seem to be bearing fruit in recent years. This is evidenced by the increasing public interest in the space as well as how governments seem to be engaging with industry stakeholders to create enabling environments in their territories. As is the case with any business, crypto-companies need to start exploring the next frontiers for expansion and take advantage of new opportunities the technology creates. Just weeks after Binance launched in Uganda, Luno, a London-based cryptocurrency platform, announced plans to expand to the African market by setting up its regional office in Johannesburg, South Africa. But what factors could be drawing these cryptocurrency platforms to the continent? Insufficient Infrastructure Africa has been experiencing numerous challenges due to the lack of adequate infrastructure in numerous sectors of the economy. ... Read More »

Why HTC Exodus 1 will Influence Blockchain Utilization in the Mobile Phone Industry

  By David Drake   By their very nature, mobile phones have become an essential part of our daily lives. Although they were initially designed to make and receive phone calls, there are currently many uses for this gadget. Whether it is entertainment, information search or utilities such as camera and calendar, mobile phones have proven to be indispensable. Moreover, these gadgets could play an important role in the utilization of blockchain technology. This follows the development of the first blockchain-focused smartphone. Dedicated to Blockchain The first of its kind, the Exodus 1 phone was unveiled by consumer electronics company, HTC. This phone will have two parallel operating systems, android and a blockchain-based operating systems. The rationale for having two operating systems is to ensure security of decentralised applications as android would have security weaknesses since it is a centralised-based system. Joseph Oreste, founder and CEO of Qupon says, “Certainly ... Read More »

HTC Blockchain Phone: Is the Crypto Market Ready?

  By David Drake   Like with other sectors, blockchain’s application in the communication space is considered a great and positive step. But it is the integration of blockchain in mobile phones that is likely to cause a stir. Globally, the number of mobile users stands at billions. This makes the combination of mobile telephony and blockchain an exciting combination. HTC is already seeing this possibility, and in October, the mobile phone company launched the first ever  blockchain-centred smartphone, HTC Exodus 1. This HTC phone model doubles up as an android phone and a digital currency wallet. It is fully based on blockchain and can only be only purchased using Ethereum and Bitcoin cryptocurrencies. Its ability to store cryptocurrency keys allows users to access, send, receive and keep track of cryptocurrency balances. With the reality of hacking threats, HTC has incorporated a separate lockable section where cryptocurrency keys are held ... Read More »

Fidelity Investments is Bringing Cryptos Closer to Institutional Investors, Here’s How

  By David Drake   2018 has been a tough year for cryptocurrencies. After experiencing a boom that saw bitcoin reach a high of $19000 in December 2017, the cryptocurrency market capitalization has been reduced by billions of dollars this year. But the announcement made by Fidelity Investments last month could give the cryptocurrency market the boost it needs to get on the path to recovery. Founded in 1946, Fidelity administers assets worth $7.2 trillion, making it the fourth largest asset manager on the globe. The Wall Street financial firm is set to launch a separate company to focus on bringing virtual currencies to its customers. This move will provide institutional investors with a digital currency platform, advise and custody services. Bridging the Gap Fidelity Investment already has a client base of nearly 13000 institutional investors, including brokers and advisory firms. Through the Fidelity Digital Asset Services platform, the firm ... Read More »

Will Fidelity’s Digital Asset Services Platform Impact the Cryptocurrency Industry?

  By David Drake   The potential of blockchain and the rising interest in fintech is beginning to capture the attention of Wall Street companies.  Just recently, Fidelity Investments, a world leader and provider of a range of financial services launched a subsidiary company dubbed Fidelity Digital Asset Services to specifically handle cryptocurrency clients. Fidelity Investment is highly experienced in financial service provision to institutional investors and boasts of client assets worth $7.2 trillion under its management. As such, this financial company identified a gap in service cryptocurrency service provision to its niche clients and decided to address the gap. Positive Reception Fidelity Investment’s move to create a cryptocurrency specific platform has been received positively by industry players. According to ONe Network‘s CEO and founder, John Hoelzer, this step brings some level of legitimacy to the industry and is likely to bring the discussion on cryptocurrency regulation to the forefront. ... Read More »

Scroll To Top