Summary:
- Borsa Istanbul, the Turkish-based stock exchange, creates a blockchain-based platform
- Andy Warhol’s painting has been sold using blockchain technology
- Bitcoin (BITCOIN on xStation5) sinks to around $6350 (over 8% down)
Thursday has not been rosy for the cryptocurrency market as a majority of them have seen significant drops. Over the past 24 hours major cryptocurrencies experienced enormous declines (Bitcoin was down over 8% down, Ethereum around 13% down, Litecoin nearly 12%). Therefore nobody should be surprised that today’s capitalization of the whole market fell down to around the $200 billion mark while the market capitalization of the most famous cryptocurrency slid to nearly $110 billion. Today’s newsflow concerns the Turkish stock exchange’s blockchain platform and the Andy Warhol’s painting.
Over the past 24 hours BITCOIN saw a huge decrease to below the $6250 handle. At press time, the most popular cryptocurrency is trading slightly above the $6350 handle. Source: xStation5
Firstly, let’s move to Turkey where the national stock exchange is developing a blockchain-powered platform. The new exchange’s system will store customers data and share documents within a decentralized network, and allow to synchronize the client database of Borsa Istanbul, Istanbul Clearing, Settlement and Custody Bank (Takasbank), and the Central Securities Depository of Turkey's (MKK). As reported by Daily Sabah based on the Borsa Istanbul’s statement, the mentioned platform has been designed under Know Your Customer (KYC) norms.
ETHEREUM has experienced bigger declines than Bitcoin, because ETHEREUM has gone down around 13%. The cryptocurrency with the second largest capitalization is fluctuating a little below the $220 handle moving significantly below the 8- and 33-period moving averages on the H4 interval (the yellow and purple lines on the chart) at press time. Source: xStation5
Secondly, it is worth noticing that the Andy Warhol’s (the famous American artist) painting from 1980 worth millions of dollars has been tokenized and sold using blockchain technology (on a blockchain-powered platform Maecenas). The 31,5% of Warhol’s painting, called 14 Small Electric Chairs, has been sold to 100 buyers, raising $1.7 million (the total valuation of the work of art was $5.6 million). Application of blockchain to auction seems to be quite interesting because it could probably facilitate and ameliorate the whole process.
LITECOIN, like its crypto peers, has noticeably dropped. The virtual coin has slid from around $68 to around $54 in less than two days. On the H4 chart, we could see eight consecutives red candlesticks. Will LITECOIN’s bears be halted? Source: xStation5
