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Banking Giant MUFG to Build Cross-Border XRP System, Cryptocurrencies Fade

Nov 13, 2018

 

Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$6376.92 0.14% -0.44% -0.92% USD$110,792,714,180 USD$4,617,358,787
Ethereum ETH USD$209.01 0.12% -1.22% -2.0% USD$21,564,685,136 USD$1,546,838,499
Bitcoin Cash BCH USD$533.71 -0.47% 0.82% -8.79% USD$9,316,519,032 USD$894,564,256
XRP XRP USD$0.52 0.01% 2.68% -1.52% USD$21,062,991,741 USD$720,949,718
EOS EOS USD$5.37 0.16% -0.75% -4.65% USD$4,866,948,933 USD$676,639,883

 

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
NEM XEM USD$0.12 2.0% 7.53% 21.56% USD$1,040,046,968 USD$54,898,662
XRP XRP USD$0.52 0.01% 2.68% -1.52% USD$21,062,991,741 USD$720,949,718
Bitcoin Cash BCH USD$533.71 -0.47% 0.82% -8.79% USD$9,316,519,032 USD$894,564,256
OmiseGO OMG USD$3.23 0.31% 0.18% -5.99% USD$452,442,620 USD$20,609,947
Bitcoin BTC USD$6376.92 0.14% -0.44% -0.92% USD$110,792,714,180 USD$4,617,358,787

 

Crypto News

  • According to a report by Insikt Group, North Korea has been targeting cryptocurrency exchanges in South Korea to circumvent sanctions imposed on the country while administering illicit initial coin offerings (ICOs) to fund the regime. In its report, Insikt Group says, “We discovered that North Korea’s ruling elite are technologically savvy, use a full range of older and cutting-edge computers, phones, and devices, use the internet as a tool for sanctions circumvention, and recently shifted to embrace Chinese social networking services over Western ones.” North Korea is currently isolated from the SWIFT network, the global financial system used by international banks to process cross-border payments.  
  • Ahead of the upcoming Bitcoin Cash (BCH) hard fork on November 15th, it appears that Bitcoin SV maintains more hash power than Bitcoin ABC. As per data from Coin Dance, at least 63% of BCH miners are supporting Bitcoin SV while at least 18% of miners are supporting Bitcoin ABC. In public statements, CoinGeek, SVPool, BMG Pool, okminer, and mempool have all announced support of Bitcoin SV -- combined, these mining pools control at least 73% of the BCH network hashrate. Notable BCH developer Craig Wright has also suggested that he would support destroying a Bitcoin ABC implementation of BCH if the network splits, which could be done by mining empty blocks on the network if Bitcoin SV miners control more than 51% of the network hash power.  
  • Australia's Commonwealth Scientific and Industrial Research Organization’s (CSIRO Data61 division, along with the Commonwealth Bank of Australian (CommBank) announced the completion of a successful trial of a prototype blockchain application that makes money “smart”.  Dubbed Making Money Smart, the blockchain project trial saw participation from 10 members of Australia’s National Disability Insurance Scheme (NDIS) with reports of lower administration costs and less required paperwork. The application leverages smart contracts to allow participants to execute payments based on pre-defined conditions using a blockchain token. The two organizations reported that the application could improve the management of insurance payouts and budgeting.  
  • Great Lakes Science Center, a major museum in Cleveland, Ohio, has become the third major US museum to accept Bitcoin (BTC) as a payment method, as of today, November 13th, 2018. Two other US museums, the Museum of Coastal Bend in Texas and the St. Petersburg Museum of History in Florida, already accept BTC as a payment method, according to SpendBitcoins USA. Great Lakes Science Center’s acceptance of BTC as payment comes two weeks before Cleveland will host an inaugural Blockland Solutions Conference. Great Lakes Science Center will process BTC payments using BitPay, a notable cryptocurrency payments processor.  
  • The International Monetary Fund (IMF) will use its ongoing research and experimentation with blockchain technology as an “anchor” for future blockchain and cryptocurrency policy, according to comments made on a panel. While participating in a panel at the Singapore Fintech Festival 2018, IMF Deputy General Counsel Ross Leckhow detailed three different areas that the IMF has been active in concerning blockchain technology and cryptocurrency -- these three areas include artificial intelligence (AI), distributed ledger technology (DLT), and cryptoassets. Ripple CEO Brad Garlinghouse also participated in the panel.  
  • Mitsubishi UFJ Financial Group (MUFG), the large Japanese bank holding and financial services company, has signed a Memorandum of Understanding (MoU) that outlines the use of Ripple (XRP) in the creation of a new cross-border payments services to Brazil. MUFG will build this service in partnership with Brazil’s Banco Bradesco, who also signed the MoU. In March 2017, MUFG joined Ripple’s Global Payments Steering Group -- in the announcement detailing the new partnership, MUFG reiterated its faith in Ripple’s technology.  
  • Tim Draper, a venture capital investor, stood by his prediction that the price of Bitcoin (BTC) will reach USD$250,000 by 2022 in a panel discussion at the Web Summit conference last week. Draper made the USD$250,000 BTC price prediction in April 2018 after he successfully predicted in 2014 that BTC’s price would surpass USD$10,000 in 2017. When asked at the Web Summit conference whether or not he still thinks that BTC’s price would experience a 40x return over the next four years and reach USD$250,000, Draper responded, “Yes. We are talking 5% of market share to get to USD$250,000. That seems like a drop in a bucket.” 

 

 

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://www.ccn.com/north-korea-hacked-crypto-exchanges-and-ran-icos-to-fund-regime-report/ 
https://www.recordedfuture.com/north-korea-internet-usage/ 
https://www.coindesk.com/hash-power-favors-craig-wright-camp-in-looming-bitcoin-cash-fork 
https://www.coindesk.com/bitcoin-cash-declares-war-why-this-could-mean-another-split/ 
https://www.coindesk.com/a-fight-is-breaking-out-over-bitcoin-cash-and-it-just-might-split-the-code/ 
https://cash.coin.dance/blocks/today 
https://cash.coin.dance/blocks 
https://www.coindesk.com/australias-csiro-commbank-complete-smart-money-blockchain-trial 
https://www.csiro.au/en/News/News-releases/2018/blockchain-trial-could-lead-to-smarter-money 
https://www.commbank.com.au/business/business-insights/making-money-smart.html 
https://www.coindesk.com/australia-wants-citizens-with-disability-to-settle-insurance-on-a-blockchain 
https://cointelegraph.com/news/major-us-museum-becomes-countrys-third-to-accept-bitcoin-as-payment 
https://www.crainscleveland.com/arts-entertainment/great-lakes-science-center-we-take-bitcoin 
http://spendbitcoins.com/ 
https://www.crainscleveland.com/technology/bernie-moreno-rolls-out-details-blockland-cleveland 
https://cointelegraph.com/news/imf-vows-to-continue-devoting-attention-to-blockchain-cryptocurrency-in-fintech-drive 
https://cointelegraph.com/news/japans-banking-giant-mufg-signs-mou-to-develop-ripple-based-remittances-to-brazil 
https://ripple.com/insights/mufg-joins-ripples-global-payments-steering-group/ 
https://bitcoinist.com/ripple-xrp-japan-mufg-brazil/ 
https://cointelegraph.com/news/tim-draper-stands-by-his-bitcoin-price-prediction-of-250k-in-2022 
https://www.youtube.com/watch?time_continue=33&v=poMdExcVtvM 
https://cointelegraph.com/news/im-thinking-250000-by-2022-tim-draper-reveals-new-bitcoin-price-target