Market Update for June 28th

Friday, June 28th 2019

Recent Headlines

4 Reasons Bitcoin's Price May Not Stop at $20K This Time

As you've surely noticed, Bitcoin is in the midst of a big upswing, and the the factors driving it are different than they were in previous bull runs. Google Trends suggest that retail investors, which had driven the 2017 bull run, are still largely on the sidelines for this upswing. Instead, it seems to be institutional interest, demonstrated by the 5,311 Futures contracts being traded through the CME Group. Read more about what is effecting the price here.

Ripple Takes $50 Million Stake in MoneyGram in Push to Deploy XRP

Ripple announced a major partnership with MoneyGram, purchasing a 8% to 10% stake in the money transfer company. This deal will provide Ripple an "unprecedented opportunity" to make the case for it's XRapid system of transferring money between banks and across borders. MoneyGram will utilize the digital currency XRP as a part of its day-to-day operations. Read more...

Facebook's Libra Currency, Explained

Facebook has officially entered into the cryptocurrency space with the release of the whitepaper for their Libra currency. The implications are large, and there are many questions around their plan: Is it really a cryptocurrency? Will regulators even allow Libra to get a foothold? This Verge article explores some of these uncertainties.

Rent contracts in Melta will all have to be registered on the blockchain

Recently approved rent reform laws on the island nation of Malta require that all rent contracts be registered using blockchain technology to protect against tampering. Prime Minister Joseph Muscat says this show "people the added value of this technology through applying it to something which they will use in their daily lives." Read more...

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