Summary:
- 54 million new crypto users in 2018
- PayPal launches an internal blockchain reward program
- Bitcoin (BITCOIN on xStation5) breaks below $3300
Friday has brought some declines in the cryptocurrency market as major virtual currencies have rather marched slightly lower. However, three largest cryptocurrencies - Bitcoin, Ripple (RIPPLE on xStation5), and Ethereum (ETHEREUM on xStation5) - have remained almost unchanged thus far today. The capitalization of the whole market stands around the $105 billion mark while Bitcoin accounts for roughly 55% of this figure.
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Bitcoin has broken below the $3300 handle, and it is trading around the $3270 handle, which is situated just a little above the recent low, at press time. Source: xStation5
PayPal launches blockchain reward program for employees
US-based payments giant PayPal has launched blockchain-based internal incentive program for employees, as Cheddar reported. The blockchain platform was built over half a year by 25 people in a PayPal’s innovation lab in San Jose, and it launched in mid-November, according to Michael Todasco, PayPal’s director of innovation, as Cheddar said. Thanks to the blockchain incentive program, PayPal’s employees could earn tokens by participating in innovation-related programs and contributing ideas. Further, they could check their tokens using PayPal’s internal website.
Ethereum experienced a huge sell-off in recent weeks. The digital currency has dropped from nearly $210 to around $85 since mid-November. Nevertheless, Friday’s trading has been rather calm for the third largest cryptocurrency so far. Source: xStation5
Over 50 million new cryptocurrency users in Q1-Q3 2018
The Cambridge Center for Alternative Finance, which is a University of Cambridge’s Judge Business School’s research center, published the second edition of its Global Cryptocurrency Benchmarking Study. According to this study, the number of total user accounts at service providers has increased from 85 million in 2017 to more than 139 million in the first three quarters of 2018 which means a 50+ million increase within this period. When we take a look at total ID-verified such accounts, the numbers present 18 million user accounts in 2017 and 35 million user accounts in Q1-Q3 2018. Additionally, the percentage of active users has slightly risen from 37% in 2017 to 38% in Q1 2018.
Ripple has decreased around 0.7% what has been the worst result among the three biggest virtual currencies thus far today. Source: xStation5
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