Here is a summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.
Ethereum Overtakes Ripple as No.2 cryptocurrency by Market Cap
Ethereum has risen back to No. 2 rank in the list of the world’s largest cryptocurrencies by market capitalization, overtaking Ripple’s XRP digital token. ETH edged past XRP by a slight margin, and currently has a market capitalization of $12.6 billion, according to the latest CoinMarketCap data.
XRP is ranked third with a market cap of $12.38 billion.
Forbes 2019 “Fintech 50” list features 6 blockchain firms
The Forbes magazine published the list of 50 “Most Innovative Fintech Companies” in the world. California-based personal finance company Acorns tops the “Fintech 50” list with a funding of $257 million. The companies featured under “Crypto & Blockchain” categories in the list are Axoni, Bitfury, Circle, Coinbase, Gemini and Ripple.
Crypto Analyst Mitoshi Kaku Says Bitcoin To Hit $5,000 This Month
In a series of Twitter posts at the weekend, Kaku shared his outlook on the basis of a new comprehensive analysis for BTC. “Two options I’m looking at right now in terms of targets or movements. Not touching my longs SL in place. Vigilant of the next few days and the Ichimoku action as they will be important to determine my next steps. Higher prices next week have a high probability,” he tweeted.
GM Financial partners Spring Labs to use blockchain
GM Financial, the finance arm of auto giant General Motors Spring, is partnering Spring Labs to use its blockchain-based network Spring Protocol to improve data security standards for the auto finance industry to prevent fraud. They will address issues such as identity verification and synthetic identity fraud.
Finablr’s UAE Exchange, Ripple Join To Offer Blockchain Payments Service
UAE-based payments and foreign exchange company Finablr said its brands UAE Exchange and Unimoni has teamed up with Ripple to offer cross-border payment services to Thailand through blockchain. The blockchain-based service would significantly boost the speed and efficiency of remittances. Finablr partnered with Thailand-based Siam Commercial Bank to provide the service on RippleNet. The company said it plans to expand the blockchain-based service to other countries.
Finance expert Ric Edelman says bitcoin ETF is virtually certain
Bitcoin exchange-traded fund or ETF is virtually certain, but the only question is when, said Ric Edelman, founder of Edelman Financial Engines. He expressed confidence that in very short order VanEck or Bitwise, who already filed with the SEC for bitcoin ETF, will satisfy the custody concern to the SEC. ETFs are securities that track assets that are proportionately representing in the fund’s shares. Bitcoin-ETF would use Bitcoin as the main asset.
US FDA To Launch Blockchain-powered Open Pilot For Drug Supply Chain
The United States Food and Drug Administration (FDA) is set to launch a new pilot project for members of the pharmaceutical distribution supply chain for encouraging the use of innovative and emerging technologies for enhanced tracing and verification of prescription drugs in the U.S. to ensure suspect and illegitimate products do not enter the supply chain. The participants of the pilot represent the drug supply chain such as manufacturers, repackagers and other stakeholders.
As of this writing, Bitcoin is down 0.72 percent or $26.02 to $3575.01. Ethereum is losing 1.61 percent or $1.95 at $119.01.
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