Crypto Market Analysis Report 31 August 2018
Bitcoin Market Update
Report marking the closing of crypto exchange for August 2018. Bitcoin price is sitting at $6,987.24 representing a gain of 1.47% in the last 24 hours. More than $400 M worth of BTC were exchanged in the BTC/USD market representing a 19% share of the global daily volume. The BTC/JPY pair represents a 12% share.
As of the End of August so far, Ethereum price has dropped 0.7% over the past 24 hours and is currently sitting at $281.17, with over $120 M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 13% market share of the daily trading volume.
Yahoo Finance Allows Trading of 4 Cryptos on Its iOS App
Last Thursday, Yahoo Finance, one of the world’s largest news sites for real-time stock quotes and market information, announced that its iOS mobile app now supports trading of four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Dogecoin. According to a blog post and some Tweets wrote yesterday, the service appeared to be also available on the desktop version of Yahoo Finance. Joanna Lambert, General Manager of Yahoo Finance & Tech at Oath, stated: Crypto Market Analysis Report 31 August 2018
“We first launched our integration with Trade It one year ago, allowing people to trade on Yahoo Finance for the first time ever. We’re excited to expand this offering to cryptocurrencies, further connecting our passionate community of investors with relevant utilities on our trusted platform.”
Venezuelan President Maduro Orders Banks to Adopt El Petro
According to France-Presse, the president of Venezuela, Nicolas Maduro, has reportedly ordered banks in Venezuelan to adopt the oil-backed state cryptocurrency, el Petro, as a unit of account. The resolution has been passed by Sudeban, Venezuela’s banking sector regulator. From now on financial institutions in the country will be required to ensure that their financial information is reflected in the Petro cryptocurrency besides the bolivar, the country’s fiat currency. Crypto Market Analysis Report 31 August 2018
Messaging Giant LINE To Launch Its Own Cryptocurrency
Messaging giant LINE has become one of the first publicly traded companies to have launched a proprietary blockchain main net with its own cryptocurrency. The firm revealed today, that the genesis block of its LINK Chain was produced on Aug. 23rd. The messaging giant now aims to gradually issue a total of 1 billion of the network’s LINK tokens, of which 800 million will be distributed to public users while the rest will be held as a company reserve.
Crypto Market Analysis Report 31 August 2018
PlayUp – A Premiere Multi-platform Sports Betting Company, Has Created The PlayChip
The PlayChip is the universal gaming token for sports betting, gaming, fantasy sports, and eSports in an operating business that now has over one million users on seven platforms in more than 70 countries generating $430 million p.a. Turnover. PlayUp is expected to generate EBITDA of $5 million in FY 2019 on $37 million revenue and to grow its user base to over 3 million users by Q4 2019.
The company’s mission is to deliver the world’s biggest incentivised, blockchain-enabled sports community and gaming ecosystem. The PlayChip is set to disrupt the US$3 trillion unregulated gambling industry by providing unparalleled trust and transparency, ease of use, lower fees, social network effects, and provably fair betting environments.
There are currently seven independent apps available for immediate download on the Apple App Store and Google Play. Collectively these apps have had hundreds of thousands of downloads. This level of traction has rarely been seen in an ICO before.
Players will be able to seamlessly move between our growing ecosystem of betting and gaming platforms and instantly transfer funds between a credit card and cryptocurrencies such as Bitcoin. An integrated wallet (PlayWallet) and exchange (PlayXchange) will provide crypto-trading access to our user base. Crypto Market Analysis Report 31 August 2018
The PlayChip is currently undertaking an ICO to raise a maximum hard cap of US$90 million. PlayChip’s parent company, PlayUp is also conducting a reverse dual listing on the NASDAQ and ASX in H1 2019. PlayUp is currently trading on a pre-ICO valuation of US$52 million. PlayUp is offering a unique combination of PlayChip tokens in the pre-ICO and equity in the pre-IPO. A full IPO data room is available to qualified investors under NDA.
US$20+ million has been committed thus far in the pre-ICO. The current round is priced at up to 20% bonus for accredited investors until August 31. Crypto Market Analysis Report 31 August 2018