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Cryptocurrency Morning Brief

May 11, 2018

  • Major cryptocurrencies have been trading lower over the past 24-hours as there have been rumors that a MtGox custodian is selling again and Nvidia said on it expects its cryptocurrency-related revenue to fall 65% in the next quarter. Bitcoin is trading at USD$8,739.00 from USD$9,900 just last week
  • Today is day three of Quantamize’s Machine Learning Crypto Signal forecast and new signals will be released after today’s UTC close. Over this 3-Day forecast where the general market declined, 23 out of 30 signals were published as “Don’t Own”
  • Crypto Facillities announced it will have tradeable futures contracts for Ethereum (ETH) beginning today in the UK at 11AM EST. Crypto facilities already offers futures for Bitcoin (BTC) and Ripple (XRP)
  • Japan’s biggest cryptocurrency exchange, Bitflyer, said it was not raided by the Financial Services Authority (FSA) despite rumors. This was reported in a tweet by Bitflyer’s CEO on twitter. In South Korea though, prosecutors have announced that they have raided the largest cryptocurrency exchange in the country, UPbit.
  • A cryptocurrency app featuring BTC.com’s mobile wallet will be released on Huawei’s AppGallery today. The release of the application will be the first cryptocurrency app available for the USD$12.8 trillion mobile payment market in China
  • Ripple (XRP) reported the cross-border payment platform xRapid took just a few seconds to be execute a cross-border transaction. A US bank sent USD$ to an exchange that converted it into XRP and then the XRP was transferred to Mexico which was ultimately converted into Mexican Pesos
  • A state-owned institution overseen by China’s Ministry of Industry and Information (MIIT) has announced that it will produce monthly assessments of blockchain projects. The MIIT announced this year that it will expidite the creation of a committee to oversee the development of blockchain standardization for the nation
  • Nvidia (NVDA) reported yesterday USD$289mm in processor sales from cryptocurrency mining equipment which amounted to over 9% of the quarterly revenue for the company. Nvidia did say that sales to the cryptocurrency market will likely decrease by two-thirds in the next quarter