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Cryptocurrency End of Day Report

Jul 13, 2018

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  • Ledger announced that it will be scaling the number of cryptocurrencies on its platform to more than 100 by the start of 2020. The French based cryptocurrency wallet and custodian provider will be adding support for new crypto assets on the first Tuesday of each month which will begin this August. Currently, Ledger supports 24 different cryptocurrency tokens. The firm announced this week that it is adding Tron (TRX) and ZCoin (XZC). The CEO recently stated that the firm has no choice but to grow its platform if it will support institutional investors
  • Ripple Labs has revealed that it is creating a strategy to make sure its token is accepted in India. Ripple officials announced their intentions to end bitcoin’s dominance in the cryptocurrency ecosystem. Firm executive, Asheesh Birla said he is confident that the Ripple will gain at least 50% of the Indian financial markets with its blockchain technology. The firm is considering partnering with the top 3 banks in India as that would give them 80% of the market share.
  • Coinbase, one of the largest cryptocurrency exchanges, announced that it is “exploring” adding five new cryptocurrencies to its list.  The five coins Coinbase has in mid are Cardano (ADA), Stellar (XLM), Basic Attention Token (BAT), Zcash (ZEC), and 0x (ZRX). There is still a substantial amount regulatory work that Coinbase would have to do to list these coins on its trading platform.
  • The Russian hackers that interfered with the US presidential election have been accused of using Bitcoin (BTC) and other cryptocurrencies to finance their operation.  It is well-known that cryptocurrencies can be used for nefarious reasons while keeping the identity of those involved a secret.  US regulators are sure to take this into consideration even though Bitcoin is not as anonymous as other cryptocurrencies.

Sources: 

https://btcmanager.com/ripple-reveals-plans-of-popularizing-the-xrp-in-india/

https://www.investopedia.com/news/100-tokens-2020-ledger-expands-its-services/?utm_campaign=rss_headlines&utm_source=rss_www&utm_medium=referral

https://techcrunch.com/2018/07/13/russian-hackers-used-bitcoin-to-fund-election-interference-so-prepare-for-fud/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

https://techcrunch.com/2018/07/13/coinbase-teases-several-new-cryptocurrency-assets-that-its-exploring-support-for/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29