- iCrowdNewswire
  • Spain
  • Brazil
  • Russia
  • France
  • Germany
  • China
  • Korea
  • Japan
 
x

RSS Newsfeeds

See all RSS Newsfeeds

Global Regions

United States ( XML Feed )

Feb 14, 2018 8:20 AM ET

Total Cryptocurrency Market Capitalization Holds Above $400 Billion

Disclosure NewswireTM

iCrowdNewswire - Feb 14, 2018

NEW YORK,  —

 

According to data from CoinMarketCap, the total market capitalizations of cryptocurrency market held steady above $400 billion. The sector has rebounded over 50 percent from its low of about $280 billion earlier this month. The price of Major cryptocurrency also bounced back on Monday. According to CoinDesk, bitcoin, the world’s largest cryptocurrency by market cap, rose 7.46 percent to $8,673.09 during Monday’s trading session. Ethereum was traded 5.82 percent higher at $863.41, with a market value of $84.25 billion. Ripple, the third largest digital currency by market cap, also rebounded from its recent sell-off, trading at $1.07. DMG Blockchain Solutions Inc. (TSX-V: DMGI), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), Riot Blockchain Inc (NASDAQ: RIOT), Overstock.com Inc (NASDAQ: OSTK), Global Blockchain Technologies Corp. (OTC: BLKCF)

According to CNBC, some analysts think the cryptocurrency market could hit the trillion-dollar mark. Jamie Burke, CEO at Outlier Ventures, a venture capital firm that focuses on blockchain investments, told CNBC by email last Tuesday: “We believe after February the market will likely go on a bull run comparative if not greater than last year potentially reaching the trillion-dollar mark before a proper crypto winter sets in where the market becomes more focused on proper market fundamentals.”

DMG Blockchain Solutions Inc. (TSX-V: DMGI) is currently listed on the TSX Venture Exchange under the ticker ‘DMGI’. Formerly, Aim Explorations Ltd. (TSX-V: AXN.P) announced on February 9th that, “it has closed its previously announced qualifying transaction (the “Transaction”) with DMG Blockchain Solutions Inc. (“DMG Blockchain”), a full service blockchain and cryptocurrency company. Prior to the Transaction, the Company was a capital pool company (as defined under the policies of the Exchange, as defined below), and had not commenced commercial operations and had no assets other than cash. The Transaction constituted the Company’s “Qualifying Transaction”, as such term is defined in Policy 2.4 of the Exchange.

The Transaction consisted of the acquisition by the Company of all of the issued and outstanding common shares in the capital of DMG Blockchain by way of a three-cornered amalgamation, pursuant to which a wholly owned subsidiary of the Company amalgamated with DMG Blockchain and each DMG Blockchain shareholder received one (1) common share in the capital of the Company for each DMG Blockchain common share held for a total issuance of 46,651,995 common shares of the Company. As part of the Transaction, the Company changed its name from Aim Explorations Ltd. to “DMG Blockchain Solutions Inc.” Trading in the common shares of the Company is expected to begin on the Exchange on or about February 13, 2018 under the symbol “DMGI”.

Following the completion of the Transaction, DMG Blockchain is now a wholly-owned subsidiary of the Company, and the Company meets the listing requirements for a “Tier 2” technology issuer on the TSX Venture Exchange (the “Exchange”). The Company will continue the business of DMG Blockchain (described in further detail below).

The Company paid a finder’s fee in the aggregate amount of 2,373,223 common shares of the Company (the “Finder’s Fee”) to a group of finders upon the closing of the Transaction which are subject to a four-month hold period expiring on June 9, 2018.

Effective upon the closing of the Transaction, as a result of the reverse takeover of the Company by the shareholders of DMG Blockchain and to align the financial years of the Company to that of DMG Blockchain, the financial year of the Company has been changed from March 31 of each year to September 30 of each year.”

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) earlier in January announced the completion of the first phase (“Sweden Phase 1”) of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden.  HIVE’s Sweden Phase 1 operation commenced mining Ethereum on January 15, 2018 and increases the Company’s energy consumption dedicated to cryptocurrency mining by over 175% to 10.6MW. “HIVE and Genesis are building the backbone infrastructure for the blockchain sector,” said Marco Streng, Co-Founder and CEO of Genesis Group. “Sweden Phase 1 leverages Genesis’ years of experience and knowledge gained by creating the leading cryptocurrency mining company, and is highly scalable for future growth. More than twenty Genesis personnel are dedicated to HIVE’s multi-phase Sweden expansion.”

Riot Blockchain Inc (NASDAQ: RIOT) on February 8th announced that it has invested an additional CAD $3.4 million in one of its portfolio holdings, goNumerical Ltd (dba “Coinsquare”). The investment is part of a CAD $30 million financing at a CAD $430 million post-money valuation. This valuation for Coinsquare is over fifteen times the valuation from Riot Blockchain’s initial investment in September 2017. Riot Blockchain additionally exercised its previously acquired warrants at a CAD $94 million valuation, and now owns approximately 12.5% of Coinsquare after the latest investment.

Overstock.com Inc (NASDAQ: OSTK) on February 2nd announced that their fintech subsidiary t0.com, Inc. (“tZERO”), to purchase a 24 percent ownership stake in StockCross Financial Services, Inc., (“StockCross”), a FINRA member firm and a U.S. DTCC member Firm. An important part of tZERO’s strategy is to buy, build or partner in order to aggregate all necessary components to have end-to-end ownership of its trading, clearing and settlement platform.  The investment in StockCross adds a key partner with the custodial and clearing functionality of a U.S. DTCC member firm to tZERO’s trading ecosystem. “We view our acquisition of 24 percent of StockCross, and our relationship with the Gebbia family, as another key step toward achieving our goal of being the first fully regulated security token trading platform,” said Joseph Cammarata, president of tZERO. “This collaboration unlocks enormous potential and provides us with enterprise-level economies of scale for both of our companies.”

Global Blockchain Technologies Corp. (OTC: BLKCF) just announced yesterday that it, “has completed its previously announced acquisition of Coinstream Mining Corp. by way of three-corner amalgamation. Under the terms of the definitive acquisition agreement, GBT will acquire 100% of Coinstream and assume all of its existing assets and underlying agreements at present, including: The Manitoba joint venture facilities totaling 50 MW of capacity, with 35 MW of capacity available immediately. GBT’s subsidiary, Global Blockchain Technologies Corp., will supply cryptocurrency mining units on the basis of a 70/30 split in favour of GBT. The wholly-owned Mozambique facility totaling 25 MW of capacity, with 10 MW of capacity available immediately.  The Mozambique facility will host GBT machines and/or seek joint ventures for the rapid procurement of cryptocurrency miners. These facilities have an average power cost of USD$.03 per KwH. A 25% interest in Distributed Mining Inc. (“Distributed Mining”).  Distributed Mining is a blockchain software company creating software that enables all devices to have the ability to participate in mining cryptocurrency. The software will be available to be downloaded through Distributed Mining, or through its partner sites. Connected devices will then be able to activate mining operations through their devices (including but not limited to mobile phones and gaming consoles).

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For dmg blockchain solutions inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com .

Contact Information:

Media Contact: [email protected] , +1-877-601-1879
Url: http://www.FinancialBuzz.com

View Related News >