was in the green Friday morning, holding above $7,400, while several altcoins including Ethereum were declining.
Overall cryptocurrency market capitalization also shrunk and was $284.11 billion as of 10.09 am ET on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Bitcoin To Test $5K Before Heading To $50K, BitMEX CEO Says
Bitcoin is most likely to fall to $5,000 before rebounding to as high as $50,000 this year, Arthur Hayes, CEO of the crypto trading platform BitMEX, told CNBC. The top cryptocurrency is likely to surge just short of $10,000 before sliding to $5,000, Hayes said.
EOS Tops China’s Crypto Rankings Again
Altcoin EOS topped the Chinese government’s cryptocurrency rankings for a second straight month. EOS is the fifth largest cryptocurrency in terms of market capitalization. Meanwhile, Bitcoin climbed to 16th spot from 17th in June.
Japan’s NTT Files Patent For Blockchain-based Contract Agreement Method
Japanese telecom giant Nippon Telegraph and Telephone or NTT has filed a patent for a blockchain technology-based new contract agreement method. NTT, the world’s fourth-largest telecom provider, explains the ways to use the application to store contracts without tampering documents. Read more…
Huobi Launches Cloud To Help Build Digital Asset Exchanges
Singapore-based cryptocurrency exchange Huobi launched its Cloud businessarm, which will enable partners to build digital asset exchanges quickly. Huobi Cloud relies on Huobi’s existing digital asset exchange platforms to provide services of setting up over-the-counter (OTC) exchanges and cryptocurrency exchanges for partners who have little to no IT capability. Read more…
Japanese Minister Denies Links To Crypto Exchange Under Scrutiny
A Japanese Minister has denied links to an unregistered cryptocurrency exchange, which is under probe for allegedly violating the Japanese fund settlement law. Japan’s Financial Services Agency had warned the Tokyo-based company in January that it was suspected of violating the law on payment services by operating a cryptocurrency exchange as it was not registered to do so, Japanese media reported. Read more…
As of 10.10 am ET, Bitcoin was 0.01 percent at $7,449.79, while Ethereum was lower by 2.83 percent at $462.31 on Coinbase.
Read more at: RTT News