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Cryptocurrency Market is Now Worth 600 Billion Dollars

 

The cryptocurrency market bounced back on Thursday after a two-day sell off. According to data from CoinMarketCap, bitcoin was traded 21 percent higher to $11,935.8 on early Tuesday after it fell to a low of $9402.29 on Wednesday. Ethereum, the second largest cryptocurrency by market capitalizations, fell below $800 on Wednesday, but it bounced back quickly to above the $1,000 mark. Ripple’s XRP rebounded the most among the major cryptocurrencies. XRP surged as much as 66 percent to above $1.60. Global Payout, Inc. (OTC: GOHE), Digatrade Financial Corp. (OTC: DIGAF), Global Arena Holding, Inc. (OTC: GAHC), BTCS Inc. (OTC: BTCS), MassRoots, Inc. (OTC: MSRT)

The cryptocurrency total market capitalization reached an all-time high above $830 billion early this year. The market with 1,448 cryptocurrencies is now valued at about $586 billion. According to CNBC, Nolan Bauerle, director of research at CoinDesk, told CNBC, “When the price of bitcoin drops, there is a pattern of traders that move to take different positions, either in another cryptocurrency or in fiat…These large drops, usually between the 25-40 percent range, generally find a bottom that is a consolidation of a previous all time high. When this bottom is found, the pattern continues with demand causing a new upward bounce.”

Global Payout, Inc. (OTC: GOHE) yesterday announced breaking news that, “its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”), has secured a Joint Venture Compliance, Crypto-Commodity, iCloud, and Strategic Partnership Agreement with Crypto Value Management System, LLC, a Delaware company that has secured the exclusive California License for a Crypto-Currency Exchange platform (“CVMS”). This platform will effectively bolster each of the companies and their ability to provide financial technology solutions to businesses operating across a number of rapidly expanding alternative market sectors, including the multi-billion-dollar cannabis industry.

CVMS acquired an exclusive license for the state of California for a cryptocurrency utility token exchange defined as an “In-State Crypto-Commodity Exchange – ICCE,” a member only blockchain commodity that can be utilized to service businesses in need of banking solutions. CVMS, in conjunction with their compliance partner Integrated Compliance Solutions (ICS), have developed a secure, compliant blockchain to service the CRB (Cannabis Related Business) space. The CVMS exclusive new blockchain technology is the most advanced crypto-commodity exchange platform available. It will also serve as the backbone of the token exchange platform that MTRAC plans to co-develop for its MTRAC-Token with CVMS and other key financial technology and compliance partners.

Said MTRAC CEO, Vanessa Luna: “Securing this JV Partnership Agreement with CVMS marks a huge milestone for MoneyTrac and our continued pursuit of banking the ‘un-bankable’ within the cannabis industry. The exclusive licenses CVMS has worked diligently to acquire in the State of California are critical pieces to the foundation we are developing for a token exchange platform that will become one of the most valuable resources to businesses in an industry where millions of dollars are exchanged in commerce every day.”

Said CVMS CEO, Christopher Johnson: “This JV Partnership Agreement with the MoneyTrac Technology team is very much about creating an opportunity to leverage the licensing rights we have acquired in the evolving cryptocurrency market sector and which we believe are incredibly valuable for the development of an effective exchange platform for businesses in the cannabis industry. MoneyTrac has done a fantastic job of cultivating a number of very strategic partnerships and creating a very solid network of individuals and entities in both financial technology and cannabis that are poised to be game changers in delivering the precise solutions that are sorely needed in the alternative banking market sector.”

In addition to the co-development of a crypto-commodity exchange platform, MTRAC will also provide CVMS with vital Fintech, sales, marketing, networking, brand development support and guidance through this JV Partnership Agreement to ensure CVMS is effectively positioned for launch and expansion throughout the state of California.”

Digatrade Financial Corp. (OTCQB: DIGAF) announced earlier this month the execution of a technology development contract with No Limits Consulting Limited to develop the Digatrade Mobile Application for iOS & Android. The following features will be developed for the Digatrade Mobile App; Digatrade home page, portfolio page with account balance display, activities page with transaction records, funding including deposit / withdraw function, trading page with instant liquidity access to Digatrade multi-currency orderbook and standalone APK for android users in Chins. The application is expected to go-live Q102018.

Global Arena Holding, Inc. (OTC: GAHC) is a holding and technology development company. The company’s main subsidiary is Global Election Services where it provides comprehensive technology-enabled election services. The company had also made an investment into a Blockchain Technology company. GAHI Acquisition Corp. was incorporated in the State of Delaware to be the merger subsidiary for the potential acquisition of Blockchain Technologies Corp. and additional Blockchain Technology Software for elections registration and tabulation processes. On August 17, 2017, the company announced that after months of development and testing, the Company’s subsidiary, Global Election Services, Inc., is proud to announce the implementation of new proprietary software and hardware to utilize in ballot scanning during the tabulation process.

BTCS Inc. (OTCQB: BTCS) announced recently that it is shifting its primary corporate focus towards the strategic investments in crypto currency and potential acquisitions of blockchain technology businesses. “Blockchain technology and its application of crypto currencies is an amazing enabling technology paradigm that will have a profound and disruptive impact on a host of industries,” stated Jonathan Read, Chief Executive Officer of TimefireVR. “I am incredibly proud of our accomplishments in virtual reality; however, the Board of Directors made a strategic decision, in the best interest of our shareholders, to leverage my experience in blockchain technology where I serve as a member of the board of directors of, our strategic business vision and our ability to access the capital markets immediately.”

MassRoots, Inc. (OTCQB: MSRT) earlier in December reported announced it has formed MassRoots Blockchain Technologies, Inc., a wholly-owned subsidiary of MassRoots, Inc. dedicated to developing blockchain-based solutions for the cannabis industry. “We believe blockchain has the potential to enable the cannabis industry to operate more efficiently and with a greater degree of accountability and transparency,” stated MassRoots Chief Executive Officer Isaac Dietrich. “MassRoots looks forward to being a pioneer in exploring blockchain-based solutions for the multi-billion dollar cannabis industry.” The blockchain enables peer-to-peer transactions without third parties, meaning that personal and business reputation can be verified and thus more reliable. MassRoots Blockchain is exploring how this can be applied to producers of cannabis and the dispensaries that purchase from them.

Source: prnewswire.com

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