Bitcoin Market Analysis Report 16 May 2019
Bitcoin Market Update
At the time of writing, the Bitcoin price is sitting at $8,028 representing a gain of 1.58% in the last 24 hours. More than 830M worth of BTC were exchanged in the BTC/USD market representing a 15% share of the global daily volume. The pair with most volume was the BTC/USDT with a 68.4% share.
Ethereum Market Update
The Ethereum price has risen 15.5% over the past 24 hours and is currently sitting at $262.6, with over $470M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has an 8.3% market share of the daily trading volume. The largest ETH trading pair was the ETH/USDT with a 43.1% share.
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Bitcoin Cash (BCH)
Opera Browser to Add Support for TRON Crypto Wallet
The popular Opera browser, which reportedly has over 300 million users, is reportedly soon adding support for TRON’s TRX on its crypto wallet, as part of a plan to support ‘multiple blockchains’ in the next 12 months.
According to a press release shared with CryptoGlobe, the integration is going to see Opera users be able to natively use TRON-powered decentralized applications (dApps) within the browser, and store TRX and TRC-standard tokens in the browser’s built-in cryptocurrency wallet. Commenting on the addition, TRON Foundation CEO Justin Sun stated:
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“We are excited that Opera, a mainstream browser with hundreds of millions of users, will now seamlessly support TRX and other TRON tokens. Soon, Opera users will be able to use dApps on the TRON blockchain.”
Coinbase Custody Now Has $1 Billion of Crypto Under Management
Coinbase CEO Brian Armstrong said the exchange’s custody service, Coinbase Custody, has $1 billion in assets under management (AUM) in just 12 months after launch. Yesterday, in an on-stage discussion at CoinDesk’s Consensus 2019 event, Armstrong was asked by panel moderator and Wall Street Journal reporter Paul Vigna about the status of institutional involvement in the cryptocurrency industry. Armstrong replied:
“We launched our custody 12 months ago, we’ve just crossed $1 billion AUM or institutions, 70 institutions have signed up, adding about $150 million AUM a month, so, to a large degree that has been a success.”
World’s Fifth-Largest Electrical Company Is Using an Ethereum Dapp
One of the world’s largest electrical companies is teaming up with ethereum app iExec on a new test. EDF, the fifth largest electrical utility company with a $33 billion market cap, has launched its visual simulator software GPUSPH on iExec, a decentralized application that operates on ethereum mainnet. With this, EDF can test how the program operates on a blockchain rather than a more normal computing environment.
Specifically, the simulator explores a field called “smoothed particle hydrodynamics” for modeling fluids. It’s technical in nature, but the general idea is that the GPUSPH application is useful for studying all sorts of things, like water dams, for example, or even lava cooling. EDF is trying to determine whether ethereum adds any benefits to the simulator, which typically runs on a GPU. As EDF blockchain engineer Gilles Deleuze told CoinDesk:
“In a wider perspective, development of distributed computing is a credible scenario for the future, and blockchain may be a nice lever in this scenario. So, let’s explore it.”