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Cryptocurrencies reverse higher as Bakkt-Starbucks equity deal could pave way for retail crypto payments

Mar 05, 2019

 

High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies

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$3876.16 0.14% 2.99% 0.51% USD$68,112,900,853 USD$9,539,687,377
Ethereum ETH USD$135.1 0.12% 6.04% -1.8% USD$14,204,898,254 USD$4,153,492,000
EOS EOS USD$3.66 2.83% 12.03% 5.67% USD$3,317,080,621 USD$1,671,974,952
Litecoin LTC USD$52.59 1.21% 13.07% 15.48% USD$3,194,468,757 USD$1,666,317,191
XRP XRP USD$0.31 0.25% 2.92% -1.97% USD$13,043,664,185 USD$676,339,975

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
Litecoin LTC USD$52.59 1.21% 13.07% 15.48% USD$3,194,468,757 USD$1,666,317,191
EOS EOS USD$3.66 2.83% 12.03% 5.67% USD$3,317,080,621 USD$1,671,974,952
TRON TRX USD$0.02 0.56% 8.88% -3.55% USD$1,562,081,259 USD$246,268,912
Ethereum ETH USD$135.1 0.12% 6.04% -1.8% USD$14,204,898,254 USD$4,153,492,000
Cardano ADA USD$0.04 0.39% 5.87% -0.86% USD$1,109,947,327 USD$17,907,731

 

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Crypto Market Recap

  • Cryptocurrencies bounced higher overnight with most major coins trading above levels prior to their downturn yesterday as the price of Bitcoin (BTC) is up 2.84% in the last 24 hours to USD$3,870.60. Binance Coin (BNB) is soaring in today’s trading, rallying 15.77% in the last 24 hours to USD$13.06. Litecoin (LTC) is also outperforming most coins in today’s trading, spiking 12.55% over the last 24 hours to USD$52.34.

Crypto Developments in Financial Services

  • Trading through cryptocurrency futures provider Crypto Facilities, which was acquired by US-based Kraken last month, has observed, “tremendous growth,” in the last month. Since being acquired by Kraken at the beginning of February, trading volume through Crypto Facilities has increased by more than 500%. Over USD$1bn of cryptocurrency futures, across Crypto Facilities’ Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH) products, have been traded since the acquisition.  
  • Tagomi Holdings, a cryptocurrency brokerage and trading platform based in New York, announced it raised USD$12mm in its latest funding round in a press release Monday. The USD$12mm funding round, led by the Yale-backed Paradigm Fund, brings Tagomi Holdings’ total funding to USD$28mm following its initial launch in December 2018. Pantera Capital was among the most notable investors for Nagomi Holdings’ first funding round.

Crypto Regulatory Environment

  • Sam Palmisano, a retired Chairman of IBM and the current Chairman of US nonprofit The Center for Global Enterprise, said he has yet to learn of a solution that makes public blockchain networks compliant with European data privacy laws. While interviewing on Bloomberg Markets with David Kappos, Palmisano described, “With the public case, it is more complicated because of the nature of the information out there an how it’s being shred. I do know of research that’s going on to address the public market, however, I don’t know of a solution that’s been found.”

General Crypto News

  • Following an equity deal between Starbucks and US-based cryptocurrency platform Bakkt, the global coffee giant could be set to accept Bitcoin (BTC)-based payments at its retail locations, according to a report by The Block. The report by The Block explains that Starbucks would not actually process any cryptocurrency, as cryptos used as payment will be instantly transferred to fiat. The Block quotes an unnamed expert who is close to the deal who said, “there’s high value from having a brand at this level.”  
  • A new report by Diar highlights that Bitcoin (BTC) mining revenues fell to their lowest levels in 18 months.  Total BTC mining income for February came in at USD$190.3mm, the lowest level seen since July 2017. Additionally, Diar highlighted, “To make matters slightly more difficult, miners running optimal equipment and who have secured wholesale electricity prices have seen their gross margins squeezed requiring a missive deployment of hash power in order to stay afloat.”  
  • Carrefour, a retail giant based in France, is continuing its adoption of blockchain technology with its new system for tracking milk, according to a press release. Beginning this March, Carrefour Quality Line (CQL) will be a new line of micro-filtered full-fat milk whose supply chain in powered by blockchain technology. The move by Carrefour comes after it launched a blockchain food tracking solutions in partnership with Hyperledger to track free-range chickens.

 

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

Sources:

http://www.carrefour.com/sites/default/files/communique_de_presse_carrefour_blockchain_lait_frais_fqc.pdf 
https://bitcoinist.com/starbucks-will-support-bakkt-after-disproportionately-high-equity-deal/ 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/bitcoin-mining-revenue-begins-slow-recovery-after-18-month-lows-new-report-shows 
https://cointelegraph.com/news/coffee-for-bakkt-starbucks-equity-deal-will-see-crypto-based-payments-source-claims 
https://cointelegraph.com/news/crypto-trading-platform-tagomi-nets-12-million-in-new-funding-round 
https://cointelegraph.com/news/ex-ibm-chair-no-solution-yet-found-to-bring-public-blockchains-under-eu-privacy-laws 
https://cointelegraph.com/news/no-coffee-for-bitcoin-starbucks-clarifies-as-media-misrepresent-its-new-crypto-venture 
https://cointelegraph.com/news/retail-giant-carrefour-applies-blockchain-for-tracking-milk-product-supply-chain 
https://diar.co/volume-3-issue-8/ 
https://www.businesswire.com/news/home/20190304005663/en/Tagomi-Holdings-Announces-New-Funding-Led-Yale-Backed 
https://www.coindesk.com/crypto-kraken-acquires-crypto-facilities 
https://www.coindesk.com/futures-trading-nears-1-billion-in-first-month-at-kraken-crypto-exchange 
https://www.youtube.com/watch?v=33eFX7Kej6k 
 

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