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Witnessing the digital breakthrough

The Long-Awaited Defrosting of the Crypto Market and the Main Highlights of the Week

13 April 2018  |    224

In general the situation on the crypto market has been controversial this week. There was no optimism in the very beginning. Then on Tuesday we witnessed a price fall for almost all cryptos due to regulations in South Korea and China.

Bitcoin’s price was about 6 thousand dollars at that time, but now it’s close to 7 thousand 8 hundred dollars. All the leading cryptos are rising as well. The market cap has finally exceeded 3 hundred billion dollars for the first time in a long period. It is difficult to say or predict anything about the stability of this tendency or even a market stabilization.

We should also remember what happened at the TOP-5. Yesterday EOS outranked Litecoin.

Despite new regulations, some positive changes are expected. Twenty two countries of the European Community have signed the Declaration about blockchain partnership.

Its participants are planning to exchange their experiences about technical and regulatory issues, and launch applications with blockchain technologies for state and private sectors. This cooperation is supposed to improve the blockchain industry.

A Blockchain Industrial Park has been opened in Hangzhou, China. There was a presentation of an Innovative Fund of 1 billion 6 hundred million dollars partially financed by the government. Blockchain technologies in China have academic and financial support from the Industrial Park, the Research Institute and the Innovative Fund as well.

In Arizona, America, the bill, allowing corporations to perform their activity records in blockchain, has been passed. Chile’s Energy Department is also going to use blockchain for statistics storage. And the Government of Singapore hopes to accelerate the financial integration of Southeast Asia.

There have been some remarkable events in crypto exchanges too. Bithumb, a South Korean crypto exchange, has announced its P2P payment system’s launch.It will definitely simplify purchases for social networks’ users. The South Korean Blockchain Association has been created to regulate crypto-exchanges in the country. Twenty three of them have entered this association having agreed to work according to new standards.

Japan’s FSA has published official statistics on crypto trading for the first time. According to it, the overall Bitcoin trading volume of 17 Japanese crypto exchanges in March was 97 billion dollars, while 3 years ago, it was only 22 billion dollars  

Binance has launched a new secure function - the anti phishing code, and Bittrex has revived user registration.

OKEx, an exchange in Hong Kong, ranking second on crypto trading volume, is planning to move to Malta. Unlike the USA, China, India and other countries which tighten the crypto regulations, The Government of Malta has a different view.

Coinbase, one of the biggest American crypto exchanges, has announced the launch of its own Venture Fund to finance innovative crypto start ups. Moreover, it is planning to get a license from the US Securities and Exchange Commision to become a broker.

A dramatic, action-packed Hollywood movie will be produced based on a real story revolving around Blockchain and cryptocurrencies. The story comes from a Russian blogger. Producers promise to show not only cars, exciting races and beautiful girls, but also, an attractive world of blockchain and cryptos.

Leonardo DiCaprio is also planning to produce a film about Nolan Bushnell, a legendary video games creator. DiCaprio has decided to launch an ICO to collect money for the film.

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