Market Analysis March 26, 2018

At the time of writing, the Bitcoin price is sitting at $8,428 representing a loss of 0.85% in the last 24 hours. More than $600M worth of BTC were exchanged in the BTC/USD market representing a 20.6% share of the global daily volume. The BTC/JPY pair represents a 59.1% share.

The Ethereum price has dropped 0.16% over the past 24 hours and is currently sitting at $517, with over $110M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 24.2% market share of the daily trading volume.

Ripple & Santander Join To Launch International Money Transfer App

According to Business Insider, the Spanish banking Santander is going to launch an international money transfer app in a few months due to his partnership with the fintech startup Ripple. The app will rely on Ripple’s xCurrent and RippleNet and will be available in Spain, Brazil, Poland and in the UK. Nathan Bostock, the UK bank CEO, stated:

“This spring, if not one [sic] beats us to it, we will be the first large retail bank to carry out cross-border payments at scale with blockchain technology.”

Russian Official Refutes Country’s Role In Petro Cryptocurrency

In conformity with Artyom Kozhin, deputy director of information and press department of the Russian Foreign Ministry, Russia never partnered with Venezuela on the Petro, Venezuela’s national cryptocurrency. The Russian officials said that in a meeting on 21st of February, 2018 Venezuela’s Ministre of Economy and Finance gave a booklet about the cryptocurrency to the Russian Finance Minister only to inform the Russians about the project, but none of the parties mentioned reviewed or discussed Russian-Venezuelan activity about Petro.

Malta Wants to Become The ‘Blockchain Island’

Silvio Schembri, Malta’s Parliamentary Secretary for Financial Services, stated in an interview that the country remains confident in the work that is being done in the cryptocurrency sector. Recently, Binance the world’s largest cryptocurrency exchange, has moved its resources over to Malta and has decided to employ more than 200 full-time employees to fully establish the company in the region. Schembri stated:

“This is a clear vote of confidence in our country and the work being done in this sector, mainly by the latest policy launched to offer a regulatory framework of DLT operations. It is obvious that Malta has become a natural point of reference on the international sphere and companies such as Binance will continue to look into Malta to further expand their operations or establish a base. Binance’s presence in Malta sustains our vision, that of making Malta ‘The Blockchain Island.”

Posted on March 28, 2018 in Market Analysis

Share the Story

Humza Hamid

About the Author

BEL 3.0 was established by a diverse range of individuals united by the greater vision that Blockchain and peer-to-peer technologies can profoundly solve real-world problems.

Leave a reply

Back to Top