Crypto Market Overview
🤨First we start off with a look at the market performance of the week: bitcoin sees minor gains and hovers over $8,000, while top alts see minor losses. Ethereum has continued to hold a slight lead over XRP and maintains the second largest market cap. Perhaps the most notable news of the week is with bitcoin SV- the forked chain that is associated with Craig Wright. Alhthough BTCSV is down about 7% today, it jumped over 100% recently resulting from sensational news about CSW filing copyright claims over btc source code.
https://cointelegraph.com/news/bitcoin-holds-over-8-000-as-top-altcoins-see-minor-losses
🤫In a new funding round that was reported on May 24th, the trading app Robinhood is set to raise over 200 million USD. This projected fund-raise would raise the market cap of Robinhood to between 7 and 8 billion USD with new funds coming from existing investors who preferred to remain unnamed. There are rumors of another following fund-raise round, which would bring the market cap closer to $10 billion. It should be interesting to watch and see what new tools/ angles Robinhood plans to release following the fund raise rounds.
https://cointelegraph.com/news/trading-app-robinhood-set-to-raise-at-least-200-million-report
Next we have a closer look at EOS with some bullish news apparently imminent. EOS developer Block.one, who we have reported on recently which is associated with Brock Pierce, is attempting to do a 10% buyback on EOS stock. This would mean a massive 5,567% return for early investors in the project. This will be interesting to see what they have coming around the corner, as we expect big things!
We recently did a review of a story related to Louis Vuitton and other large luxury fashion brands who intend to use blockchain technology to track their inventory. In a similar story we are reporting on the world’s oldest watch manufacturer looking to similarly use blockchain to track their time pieces. The maker called Vacheron Constantin will start using blockchain starting on May 24th and is interested in blockchain “as it makes it possible to create forgery-proof digital certificates of authenticity, which will follow the watch through its life”
Lastly, we have some news out of Europe as opposition politicians in Luxembourg demand detailed information on E-government plan to for blockchain and artificial intelligence. This plan reportedly centers on the implementation of blockchain technology in the government administration as they attempt to remain on the cutting edge of development. Luxembourg lawmakers passed a bill for facilitating blockchain tech in the financial sector this past February, and will provide legal certainty for blockchain securities in circulation and also for fiat transfers.
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