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Cryptocurrencies trade broadly lower as Pantera Capital fund raising slows

Feb 21, 2019

 

 
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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$3942.2 -0.14% -0.89% 8.86% USD$69,188,144,533 USD$8,145,535,937
Ethereum ETH USD$144.98 -0.16% -1.53% 18.73% USD$15,215,771,843 USD$4,300,999,621
EOS EOS USD$3.74 -0.27% -2.35% 35.5% USD$3,387,915,285 USD$1,477,811,744
Litecoin LTC USD$48.87 -0.38% -4.16% 16.91% USD$2,960,022,603 USD$1,337,057,967
XRP XRP USD$0.32 -0.19% -2.36% 5.27% USD$13,210,261,392 USD$639,888,909

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
VeChain VET USD$0.0 -0.31% 4.85% 17.38% USD$252,062,391 USD$14,714,612
NEM XEM USD$0.04 -0.3% -0.83% 3.85% USD$390,108,185 USD$15,687,504
TRON TRX USD$0.02 -0.16% -0.87% 5.12% USD$1,654,473,283 USD$143,761,738
Bitcoin BTC USD$3942.2 -0.14% -0.89% 8.86% USD$69,188,144,533 USD$8,145,535,937
Stellar XLM USD$0.09 -0.3% -1.01% 16.29% USD$1,703,661,931 USD$153,168,214

 

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Crypto Market Recap

  • Cryptocurrencies are trading broadly in the red as all of the 20 largest cryptocurrencies by market capitalization are in the red and the price of Bitcoin (BTC) is down 0.90% in the last 24 hours to USD$3,941.60. NEO (NEO) and Cardano (ADA) are observing the steepest losses among major coins, down 5.34% and 4.81% in the last 24 hours to USD$8.66 and USD$0.044888, respectively.

Crypto Developments in Financial Services

  • Pantera Capital, a cryptocurrency-focused venture capital firm, has reportedly secured a majority of its USD$175mm fund ahead of the expected March closing. According to a slide deck cited by CoinDesk, Pantera Capital has raised USD$125mm of the USD$175mm target for the fund. Last August, however, CNBC reported that Pantera Capital had already raised USD$100mm for the fund, indicating that the venture capital company has only raised USD$25mm for its fund in the last 6 months.  
  • KPMG, a big four auditing company, announced a partnership with Guardtime, an enterprise blockchain firm, to offer blockchain services to clients. According to an official press release published on Wednesday, "Using KPMG’s blockchain enablement services, KPMG professionals will work with Guardtime to provide strategy, assessment, as well as design and implementation services.” In its past, Guardtime has entered blockchain partnerships with notables like Ernst & Young and the Estonian government.  
  •  Mizuho Financial Group, a Japanese banking giant, is reportedly set to launch its stablecoin for payments and remittances on March 1st, according to an article published by the Nikkei Asian Review. Mizuho is partnering with 60 different financial institutions on the stablecoin project, representing an aggregate 56 million user accounts. Dubbed J-Coin, the stablecoin and coinciding digital currency platform will link users’ existing bank accounts with digital wallets. 

Crypto Regulatory Environment

  • The County Auditors’ Association of Ohio (CAAO) has formed a working group to deliberate the prospect of a blockchain platform in the effective transfer of property deeds. According to a report by blockchain startup SafeChain, the CAAO working group is currently testing how blockchain technology can be implemented to increase efficiencies in the execution and management of real estate transactions and title transfers. CAO chair Matt Nolan detailed in a press release, “We have a committed group to enhance technology and improve government operations to the benefit of the taxpayer.”

General Crypto News

  • Stablecoins will play a key role in driving the mainstreams adoption of cryptocurrencies and blockchain technologies, according to a new report published by Reserve on Wednesday. Reserve, a stablecoin startup based in California, published, “The State of Stablecoins 2019: Hype vs. Reality in the Race for Stable, Global, Digital Money,” that analyzes data from 50 cryptocurrency and stablecoin companies. The report details, “The development of stablecoins, price-stable cryptocurrencies, asset-backed cryptocurrencies etc. Is likely to play a critical role in how this new economy achieves mainstream adoption.”  
  • Samsung’s new Galaxy S10 smartphone will include a storage feature for private cryptocurrency keys, as detailed in an official press release on Wednesday. Announced at an event on Wednesday in Seoul, San Francisco, and London, the Galaxy S10, “is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”  
  • Mark Zuckerberg, founder and CEO of Facebook, discussed blockchain’s potential role in the authorization of user data in an interview with Harvard Law professor Jonathan Zittrain. Zuckerberg explained in the interview how a blockchain system would work in authorizing user data, saying, “Basically, you take your information, you store it on some decentralized system and you have the choice to log into places without going through an intermediary.” Zuckerberg also noted in the interview that he believes the work Facebook does acts as a decentralizing force in the world.

 

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

Sources:

https://asia.nikkei.com/Economy/Mizuho-s-digital-currency-to-take-on-payment-rivals-next-month 
https://bitcoinist.com/samsung-galaxy-s10-bitcoin-wallet/ 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/big-four-firm-kpmg-partners-with-blockchain-co-guardtime-to-develop-tools-for-businesses 
https://cointelegraph.com/news/japanese-banking-giant-mizuho-to-launch-its-yen-pegged-stablecoin-in-march 
https://cointelegraph.com/news/mark-zuckerberg-considers-blockchain-authorization-of-data-in-recent-interview 
https://cointelegraph.com/news/new-samsung-galaxy-s10-includes-cryptocurrency-key-storage 
https://cointelegraph.com/news/ohio-county-auditors-to-explore-blockchain-based-real-estate-system 
https://cointelegraph.com/news/stablecoins-to-play-key-role-in-crypto-adoption-says-new-report 
https://reserve.org/stablecoin-report 
https://www.cnbc.com/2018/08/16/crypto-hedge-fund-pantera-on-track-to-raise-175-million.html 
https://www.coindesk.com/pantera-has-already-raised-125-million-for-its-third-crypto-fund 
https://www.facebook.com/zuck/videos/10106612617413491 
https://www.prnewswire.com/news-releases/kpmg-forms-strategic-alliance-with-guardtime-300798827.html 
https://www.safechain.io/news-feed/2019/2/20/county-auditors-association-of-ohio-announces-working-group-to-test-multi-county-real-estate-transaction-system 

 

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