The State of The Market — March 7, 2019BTC: $3,907.68 (+0.23%)ETH: $137.93 (-0.51%)XRP: $0.315368 (-0.08%)
After failing to move past $3,900 yesterday, Bitcoin has finally managed to break the minor resistance and defended it. It dropped below that point on only one instance and bounced back within an hour. However, Bitcoin should move further to test the resistance at $4,000 and $4,200. Meanwhile, the market has not changed much today, adding just $1.4 Billion in the last 24 hours. Binance’s native token Binance Coin (BNB) is up by 12% and has surpassed Tether to become the 7th largest cryptocurrency with a market cap of $2.13 Billion.
In other news, Huobi’s over-the-counter (OTC) wing has added support for XRP. The OTC platform now supports Bitcoin, Ethereum, Tether, EOS, Huobi Token and according to the to press release, Huobi OTC aspires to provide an exchange bridge between fiat currencies and digital assets. Also, Social media giant Facebook has established a blockchain research team at its development center in Tel Aviv, Israel. According to the company’s official listing on LinkedIn, the team is like a startup within the company, with the goal of using blockchain technology to improve the lives of people around the world. Facebook has posted vacancies for the role of product manager and blockchain researcher in the new team.
1) Civil, a ConsenSys-backed blockchain media startup, launched its long-awaited CVL token after a lengthy delay. Civil Media CEO Matthew Iles said the token launch means many of the independent newsroom employees and Civil Media partners will now receive the token compensation packages that they expected in 2018 and all earnings from the ongoing token sale will be collected by the nonprofit Civil Foundation. Last summer more than 100 newsrooms joined the Civil community and ConsenSys provided significant funding for the startup. Civil Media also debuted a membership program that will incentivize members with tickets to quarterly events and access to an exclusive newsletter and forum where members can directly interact with journalists from member organizations. Iles said Civil Media will provide software-as-a-service to news outlets and readers and he emphasized that “it’s absolutely our intention to start generating revenue as a for-profit company this year.” (Read More)
2) Earlier this week SWIFT announced that it had partnered with the Singapore Exchange and four major banks to trial a blockchain-based platform for e-voting. Deutsche Bank, DBS, HSBC and Standard Chartered Bank are all participating in the trial. SWIFT said the pilot will determine whether distributed ledger technology (DLT) can assist with the “cumbersome, time-consuming and resource-intensive” paper-based shareholding voting process. SWIFT added that proxy voting tends to “frequently result in error-prone and complex manual processes” and the firm is convinced that DLT can assist by “fostering greater transparency and automation.” The proof-of-concept (PoC) pilot will use permissioned private blockchain within a sandbox testing environment. (Read More)
3) Enjin Coin has announced a partnership with Unity, to bring blockchain technology to gaming. Unity is one of the most popular game development platforms, and over half of all mobile games run on it now. The partnership will include a software development kit for game developers using Unity to implement blockchain. Enjin Coin previously introduced the ERC-1155 standard, reducing the cost of issuing and transferring non-fungible (unique) tokens. It is now up to the game developers to implement the technology. (Read More)
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