Weekly Market Snapshot - July 22, 2019

By Blockchain.News Official   Jul 22, 2019 5 Min Read

Blockchain.News - Market Update - July 22, 2019

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

Weekly Snapshot of the Top Cryptos

# Crypto Symbol  Market Cap  Price (USD) Change % (7D) Trading Vol (7D)
1 Bitcoin BTC $189.38 bn $10620.99 3.07% $130.80bn
2 Ethereum ETH $24.21 bn $226.24 0.23% $49.60 bn
3 XRP XRP $14.14 bn $0.33 6.31% $8.87 bn
4 Litecoin LTC $6.24 bn $99.48 11.55% $23.25 bn
5 Bitcoin Cash BCH $5.79 bn $323.13 12.01% $10.60 bn

Source: Blockchain.News Data and CoinMarketCap, as of 22 July 2019

Coin of the Week

Our coin of the week goes to Bitcoin SV! As of 22 July, BSV is priced at $174.08 with an increase of 42.25% this week! Bitcoin SV is anticipating a key protocol upgrade mid-week, the "Quasar" upgrade will allow the increase of the default block size from 128MB to 2GB.

This Week's Highlights

China Declares Bitcoin as Virtual Property with Monetary Value

China has taken a new step with an important legal precedent regarding Bitcoin in a property dispute case in Hangzhou. Read more about how this case affirmed the legal status of Bitcoin as a virtual property with protection under Chinese law.

Exclusive: Why are Independent Third Party Crypto Custodians so Important?

Alexandre Kech, CEO of Onchain Custodian shares with us the importance of independent third-party custodial solutions! He identified three grey areas for assets under custody by the exchange and how Onchain Custodian identifies the custodial needs for crypto players and traditional financial giants!

Exclusive: Can Onchain Custodian Fill the Gap of Fidelity in Crypto Custody?

While wall street giants like Fidelity tapped into the crypto custodian space, can Onchain Custodian survive under the fierce competition? Alexandre Kech, CEO of Onchain Custodian believes that they can fill the gap of Fidelity in the crypto custody market! He also explains how the surging demand in BTC futures and crypto collateral can present huge business opportunities for crypto custody providers!

U.S. Treasury Secretary: Cryptocurrencies are Dominated by Illicit Activities

“I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.” The United States Treasury Secretary Steven Mnuchin said at a press conference on 15 July.

US Banking Giant Wells Fargo Prohibited Crypto Transactions

Founded in 1852, U.S. traditional banking giant Wells Fargo prohibits crypto transactions for its customers, as revealed the tweet of Ask Wells Fargo on 13 July.

U.S. Senator Sherrod Brown: Facebook is delusional

“Mark Zuckerberg has said that Facebook is more like a government than a company. That’s delusional.” U.S. Senator Sherrod Brown said in a video tweet by NowThis News.

Exclusive: What are the 5 FinTech Career Advice for Graduates?

Prof. Aris Stouraitis presents how Master of Science in Finance (FinTech and Financial Analytics) offered by Hong Kong Baptist University strives to nurture interdisciplinary talents and he offers 5 career advice for graduates who wish to work in FinTech and blockchain industry!

Exclusive: Lack of Interdisciplinarity - Culprit for FinTech Talent Shortage

Prof. Aris Stouraitis, Department Head of Finance & Decision Sciences at Hong Kong Baptist University shares with us the culprit of FinTech talent shortage! He also highlights how financial institutions, governments, and academic institutions can address this problem!

R3 Corda Reignites Enterprise Blockchain Race with Own Token Standard

Powered by R3, Corda announced the launch of Token SDK 1.0, which allows the creation of native tokens on the Corda blockchain platform. Corda’s medium reported on 15 July.

Is Blockchain-Based Virtual Reality the Future?

For years, advocates of virtual reality have struggled to overcome several major barriers to mass adoption — centralized corporations controlling user accounts, hackers eliminating digital assets, and developers lacking the incentive to create quality VR content. Currently, blockchain is changing the game.

Keep Big Tech out of Finance? Drafted Bill Surfaced Ahead of Libra Hearings

The drafted bill entitled “Keep Big Tech out of Finance” has appeared online ahead of Facebook’s hearing on 16 and 17 July. The bill is allegedly circulating among The United States House of Representatives Financial Services Committee, as revealed by the media outlet, the BLOCK on 13 July.

What are 7 Takeaways from Facebook Libra Hearings?

The debate on Facebook Libra continues with the hearing with Senate Banking Committee on 16 July and the United States House Committee of Financial Services on 17 July. Here are 7 key takeaways from the two hearings!

Blockchain Investment Dropped 60% in 2019 despite Bitcoin Bullish Run

Blockchain investment dropped 60% from a record 4.1 billion USD in 2018 to 1.6 billion USD this year, according to CB Insights reported by Bloomberg on 18 of July. 

Blockchain in Healthcare Market to Reach USD 1.7 billion by 2026

The global blockchain in the healthcare market is predicted to reach over USD 1.7 billion by 2026 and a forecasted CAGR 48.1% between 2019-2026, as reported by the consulting firm Acumen Research and Consulting (ARC).

This Week's Events

APAC Blockchain Conference 2019
Date: 22-24 July
Venue: Novotel Sydney Central | Australia
Theme: APAC Blockchain Conference 2019 is the third edition of a 3-day blockchain event in Australia supported by the Australian Digital Commerce Association. 

World Blockchain Summit - Singapore
Date: 25 July
Venue: Marina Bay, Sands Singapore
Theme: The event will bring together more than 100 curated Investors and 300+ pre-qualified CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers, Heads of Innovation and International experts among others who will be a part of powerful keynotes, workshops, government and enterprise use-case presentations, product exhibitions, panel discussions and tech talks.

Tezos Blockchain: Baking Day Series
Date: 27 July
Venue: Hong Kong
Theme: Shoutout to all blockchain enthusiasts! Join us in this 1-day event on blockchain & how Tezos blockchain differs from others! Learn about baking on the Tezos platform, the various uses of Tezos related software, installing a Tezos node & our very own Tezos incubator for tech start-ups!

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