Wall Street Cryptocurrency Demand Rises Despite Bearish Market
Interest in Wall Street firms on cryptocurrencies has not whined despite its dismal market performance in most part of 2018 seeing as much as 80% correction from its all-time-high.
An analyst at Sanford C. Bernstein & Co reveals that despite current market conditions digital trading platforms have been recording solid volumes generating large revenues.
This strong performance of cryptocurrency trading platforms in a bear market helps to increase the demand from Wall Street firms.
Some of the world’s largest banks are already serving their clients cryptocurrency related services such as Goldman Sachs and JPMorgan.
Multi-billion conglomerates Square and Robinhood have been offering cryptocurrency trading services early this year and have expressed positive outlook in the space despite the current down trend of the market.
Square Cash Is Now More Popular Than Venmo
App research firm Sensor Tower and Nomura Instinet have revealed that Square’s Cash App have already surpassed its main rivals, Paypal’s Venmo in the cumulative downloads of their applications.
Cash App is said to have been downloaded 33.5 Million times compared to Venmo’s which is about a little over half a million lower at 32.9 million.
Cash App is said to have rolled out its Bitcoin trading to all 50 U.S. States in which users can now use the app to buy and sell Bitcoin throughout the country.
However, Dan Dolev an analyst that works with Nomura Instinet believes that Square company’s growth is more than the effects of bitcoin adoption, saying that the payment app kept growing despite bearish market conditions and a slow down in downloads of leading cryptocurrency exchanges such as Coinbase.
UPS To Use Blockchain To Track Global Shipment Data
The U.S. Patent and Trademark Office (USPTO) have recently publish a patent application revealing shipping giant UPS interest in using blockchain to re-envision how shipments move around the world.
The application is dubbed “Autonomous services selection system and distributed transportation database” the system involves storing an assortment of data with a distributed ledger network, including destination information, the package’s itinerary and transportation plans for shipment units.
UPS suggests using more than one distributed ledger in an effort to track a range of shipment orders.
The company will be looking at different ways to enhance the process through which it moves shipments around the world using blockchain technology and due to its scale using more than one distributed ledger is not surprising.
Three Japanese Public Companies Launching Crypto Related Services
Three publicly listed Japanese companies is said to be unveiling cryptocurrency related services from its business units.
Forside has increased its mining operations and is planning to sell 7nm Bitcoin mining rigs as part of its growth strategy development of virtual currency mining business.
Another Japanese firm, Fasteps Co. Ltd. recently announced the opening of their cryptocurrency exchange based in Singapore under their subsidiary in the country.
The company will provide systems solutions, media solutions and cost management business services.
Line Corporation, the operator of Japan’s most popular chat app has recently added cryptocurrency price quotes to its Clova AI assistant for Android and iOS operating system.
Crypto prices will be provided by Kraken exchanges. This is in addition to its subsidiary’s establishment of corporate token venture fund in Hong Kong called “unblocked venture ltd.”
Operation Tron Storm
Tron community members have initiated a movement in twitter called “Operation Tron Storm” in which the community have been tipping TRON (TRX) to prominent celebrities and global personalities on Twitter.
They are using a TRON tipping app called GoSeedit that has integrated with twitter to be able to tip users with TRX.
Through this initiative the Tron community will be introducing them to the world of TRX and its plan to decentralize creative content.
The Tron community has tipped The Pope, Kanye West, 50 Cent, Snoop Dogg, Ellen and other personalities.
Headlines for the world of Cryptocurrencies - August 20, 2018Venezuelans To Get Paid Half a Petro A Month / Bolivar Reached 100,000% Inflation, 60 Bolivar per Bitcoin / Wyre and MakerDao Parnership / 90% Of Binance Employees Receives Salary In BNB / 11 out of 21 South Korean Crypto Exchanges Completes Security Measures |
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Headlines for the world of Cryptocurrencies - August 19, 2018Prestigious London CryptoAddresses For Scam Smokescreens / Cryptocurrency Bonds Required In Some U.S. States / Airbnb Founder Backs Crypto Project / U.K. Crypto Exchange Launches Bitcoin Cash Futures / Major Chinese Retailer Launches Blockchain Platform |
Headlines for the world of Cryptocurrencies - August 18, 2018An Exchange-Traded Bitcoin Note Now Allows U.S. Investors To Invest In BTC / Pantera Raises $71 Million For 3rd Crypto Fund / Ethereum Classic (ETC) Recovers As It Launches On Coinbase Consumer / Korean Largest Cities Wants To Be Crypto Capitals / Binance LCX Fiat-To-Crypto Exchange |
