Weekly Market Snapshot - May 06,2019

By Matthew Lam   May 06, 2019 4 Min Read

Blockchain.News - Market Update - May 06,2019

Here is what you need to know about the crypto market last week!

Weekly Snapshot of Top Crypto

# Coin Symbol Market Cap. Price (US$) Price % (7D) Trading Vol. (7D)
1 Bitcoin BTC 100.77 bn $5698.12 7.71% 92.79 bn
2 Ethereum ETH 17.14 bn $161.78 2.65% 37.81 bn
3 XRP XRP 12.59 bn $0.3 0.45% 6.21 bn
4 Bitcoin Cash BCH 5.09 bn $286.42 12.71% 11.68 bn
5 Litecoin LTC 4.57 bn $74.06 6.24% 18.81 bn
Source: Blockchain.News Data and CoinMarketCap, as of 06 May 2019

Coin of the Week

Our Coin of the Week goes to Bitcoin Cash! As of 06 May, BCH is priced at $293.95 with 15.56% weekly price increase! Roger Ver, CEO of Bitcoin.com, was served with a libel suit by Craig Wright on 2 May. This is due to Ver called Wright "a fraud and a liar" earlier in the YouTube video. The war between Bitcoin Cash (BCH) and Bitcoin SV (BSV) has reignited?

Top Analysis For You

Exclusive: Why Hong Kong is so Unique in AI Industry?

Timothy Leung reveals the unique positioning of Hong Kong in AI industry! He also evaluates the impact of HKD 20 billion Lok Ma Chau Loop and the support from Hong Kong government in AI technology!

Blockchain Patent Landscape At a Glance

Patents are essential to protect firm’s properties and technological know-how on blockchain. The filing of blockchain patents has been exploding since 2013, with an annual growth between 140-230%. According to IP Australia, China ranked 1st (1581) as the destination of blockchain patents, followed by the United States of 951 and South Korea of 220.

Exclusive: Talent Shortage is The Key Pain Point in AI Industry

Artificial intelligence is one of the emerging fintech trends in Hong Kong. While there are some great minds and AI companies in Hong Kong, they can’t survive without sufficient funding and technical support from government and industry leaders. Timothy Leung, Executive Director of HKAI Lab, to share his thoughts on how HKAI Lab facilitates the growth of AI ecosystem in Hong Kong. He also identified talent shortage is the key pain point in AI industry which hinders integration of AI and blockchain.

Moody: Private Blockchains Are More Exposed to Fraud Risk

According to Moody’s latest report titled “Blockchain Improves Operational Efficiency for Securitizations, Amid New Risks,”, there are several warnings on the use of private blockchain.

Blockchain-as-a-Service: Latest Battlefield for Tech Giants

Microsoft announced a set of new Azure service that span from AI, IoT, mixed reality and blockchain. The company will release further details about the hybrid cloud and edge computing at the Microsoft Build conference, according to the press release published on its website 2 May.

Exclusive: What are the 4 Latest Strategies from DASH Thailand?

Felix Mago elaborated the 4 key strategies for DASH Thailand going forward, namely collaboration with governments, raising awareness of DASH among millennials, leveraging the remittance market and the upcoming scalability milestone for DASH!

Racing for Blockchain Patents: PBoC, Alibaba, IBM and more

We look at the current state of institutional adoption and examine the three key players in this field: PBoC, Alibaba and IBM!

Exclusive: Not Just Venezuela! How DASH Penetrates into Thai Market?

When DASH is usually reminiscent of hyper-inflation in Venezuela, the development of DASH in Asia, especially Thailand, can be much faster than you thought! Felix Mago, CEO of DASH Thailand, to share his insights on how DASH penetrates into the Thai market differently from Venezuela. He also highlights the importance of merchant’s adoption for DASH to go viral!

Beware of Excel Files in Email Attachment, Says Symantec

Beapy – a cryptojacking malware targeting Chinese enterprises to exploit and stolen and hardcode credentials by using EternalBlue. This leaked NSA tool targets the weakness in Windows SMB protocol to facilitate the spread of files across the networks, according to its blog post published in Symantec website – a security software provider.

How Hackers Use Excel Files to Compromise Your Computers?

We do not recommend users to open excel (especially excel files among other office format files) from an unknown source. Hacker can gain full control of your computer, including the access of all files, screenshots, your web camera and all information typed by your keyboard!

Washington State Senate Introduced bill with Blockchain and DLT definition

The Washington State Senate introduced a bill that “recognizes the validity of distributed ledger technology”, which will amend the “purpose and construction” and “definitions” under the “Washington Electronic Authentication Act”.

Decrypt: Most Whitepapers are Full of Scams

According to Decrypt’s Investigation published on 22 April, many startups had been accused by whitepaper writers to “constantly required to fabricate and exaggerate facts”.

A Deeper Look into The Greater Bay Area, China's Answer to Silicon Valley

The Fintech Association of Hong Kong has released a new report exploring the Greater Bay Area (GBA)’s cities, policies, and fintech landscape. The report gives an overview of the GBA’s demographics, fintech companies, projects and goals, including policy and regulatory initiatives, ambitions for capital markets and funding, and the region’s supporting ecosystem for fintech.

Is Crypto Cash? A Decision for New York Federal Judges To Make

Chase Bank – the subsidiary of JP Morgan Chase had been sued by its customers in April 2018 for charging additional fees on crypto transactions. One of the leading plaintiffs, Brady Tucker said that the bank charged him for additional fees of $143.30 and interest charges of $20.61 for five crypto transactions between January and February 2018 without prior notice.

Can CoinMarketCap DATA Alliance Enhance Data Integrity?

At its 6th birthday, CoinMarketCap (CMC) – the Crypto market cap tracker had launched an initiative called the Data Accountability & Transparency Alliance (DATA), which hopes to “promote greater transparency, accountability, and disclosure from projects in the crypto space.”

The Government is Taking Action on Bitfinex, Who's Next?

Bitfinex is being accused of misappropriating $850 million worth of clients’ assets collected through USDT. Unlike banks, which would typically cooperate with the government after being charged, the company fought back. Moreover, it released the most definite statement possible and described the US government was acting like the mafia. It even threatened the crypto community that if it were taken down by the government, the price of Bitcoin would go up to $1,000.

Millions of People Might Soon Be Using Cryptocurrency Without Knowing It

Automating the creation of contracts and letting people review them and even sign them electronically are relatively straightforward. But, as Moore told the audience at the MIT Media Lab, “what nobody really does today is pay for things—things that are important enough to put in a contract—in an automated way.”

Week Ahead

Fluidity Summit 2019
Date: 9 May 2019

Venue: Williansburgh Savings Bank (Weylin), New York
Theme: Reimagine the future of finance
Key Speakers: Joe Lubin (Co-Founder of Ethereum), Yorke Rhodes III (Blockchain Co-Founder of Microsoft), Sam Englebardt (Co-founder of Galaxy Digital)

About the author

Matthew Lam
I believe the true value of cryptocurrencies is the underlying blockchain technology. The development of CBDC, DeFi, blockchain standardization are the key trends to watch in 2020!

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