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Crypto Markets Turning Green, Oil Prices Tumble

Crypto markets turning green, oil prices tumble

Crypto Markets Turning Green, Oil Prices Tumble

Crypto markets turning green, oil prices tumble

Thursday, May 23 — Cryptocurrency markets are starting to move upward, having overcome the drop in the beginning of the day, according to Cointelegraph’s Coin360.

Market visualization from Coin360

The leading cryptocurrency bitcoin (BTC) started the day at $7,638 gradually reaching its intraday high of $7,946. At press time, bitcoin is trading at around $7,914, up 2.64% over the past 24 hours.

Bitcoin 24-hour price chart. Source: CoinMarketCap

The second-largest cryptocurrency, ether (ETH), has also taken an upturn and is currently trading at around $246.50, up 0.60% on the day. During the day, ether experienced a slump to as low as $233.89, while its daily high was $247.62.

Ethereum 24-hour price chart. Source: CoinMarketCap

As reported earlier today, American digital asset manager Grayscale Investments confirmed its Ethereum Trust (ETHE) has gained regulatory approval from the Financial Industry Regulatory Authority for retail trading. Set to become the first publicly-quoted security based on ethereum, ETHE received the go-ahead from FINRA to trade on over-the-counter markets.

Ripple (XRP) is up 1.05% on the day to trade at $0.381. The altcoin’s market capitalization is around $16.07 billion, while its circulating supply is nearly 100 million to press time.

Ripple 24-hour price chart. Source: CoinMarketCap

Among the top-20 cryptocurrencies by market capitalization, bitcoin SV (BSV), cosmos (ATOM) and dash (DASH) are trading in the red, down by 0.94%, 2.58%, and 0.56% respectively.

Cosmos (ATOM) has seen the biggest losses over the past day and is trading at around $4.28 at press time. Throughout the day, the altcoin has been gradually sliding to its current price, while it started the day at $4.44.

Cosmos 24-hour price chart. Source: CoinMarketCap

Total market capitalization of all cryptocurrencies is around $245 billion at press time –– up а solid $6 billion from $240 billion at the start of the day. The 24-hour trading volume of all cryptocurrencies on the CoinMarketCap is around $75 billion at press time.

Total market capitalization 24-hour chart. Source: CoinMarketCap

Meanwhile, oil prices tumbled nearly 6% today, extending steep losses in the previous sessions, as a reaction on a prolonged United StatesChina trade war, according to CNBC. U.S. West Texas Intermediate crude futures reportedly settled $3.51 lower at $57.91 per barrel, tumbling 5.7% to the lowest closing price since March 12, while Brent crude futures sank $3.35, or 4.7%, to $67.64 per barrel.

Gold prices reportedly jumped 1% today as the U.S. dollar pulled back from a two-year peak scaled earlier in the session. Spot gold gained 1% to $1,285.63 per ounce, after falling to its lowest since May 3 on Tuesday at $1,268.97. U.S. gold futures rose 0.9% to $1,285.50 an ounce.

Published at Fri, 24 May 2019 02:15:19 +0000

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IMMLA: Multimodal Transportation ‘UBER’ to Raise $500k in Crowdsale

IMMLA’s mission is to provide multimodal deliveries service with decentralized control system of transportation, document flow and payments.


Its authors say, that new technology allows dramatically reduce trust deficit, information barriers and legal costs. This is to be achieved due to interaction of cargo owner and the transporter through IMMLA working on the base of Etherium blockchain and smart contracts. It will allow monitoring of cargo damage, time of delivery, cargo location, selection of suitable delivery route and other cool parameters.

IMMLA is founded by consortium of logistics and IT leaders. It includes such names as Formag Fowarding (subsidiary of Global Transport Investment), experts of a leading logistics services giant Hellman Worldwide Logistics and SBSolutions.  The software solution will be based on the logistics industry leading ERP solution Logismart.

1-2% market share in 5 years

IMMLA is planning to launch real third party transportations using smart-contracts based on Ethereum blockchain as early as in the first quarter of 2018. According to the White Paper, in 2019-2020 IMMLA service will be offered on the CIS market. In 2021, it is to enter the markets of Western Europe and China. Thus, 5 years after the launch of the IMMLA product is estimated to occupy 1-2% of the world’s freight forwarding market.

“International freight forwarding market is annually estimated at approximately 200 million teu’s (twenty-foot equivalent unit). Thus, the goal of 1-2% market share 5 years after the full-scale launch, constitutes roughly 3 million teu’s (to date, it is an approximate volume provided by the DHL company). Our estimations show that high quality service for around 8000 multimodal international transportations daily, including all the possible deviations from an ideal process, will be the minimum performance level that we will be able to provide over this time horizon”.

-Mikhail Astakhov, the founder of the IMMLA consortium

Based on working product

Logismart, the basis of IMMLA service, functions in several dozen multinational logistic corporations. IMMLA’s team affirms that the product serves and supports tens of thousands transported TEU-s in terms of both legal issues and document workflow. However, IMMLA claims to be new service inheriting only logic from its predecessor.

“Initially a client puts into the service the information about the necessity to deliver a specific cargo from one place to another at a specific time. Further, the platform through the use of statistical and forecast data provides the client with a price point for such service and an approximate delivery plan. If the client is satisfied with the basic conditions of the offer, then he places an order for a proposal formation”.

-Mikhail Astakhov

The system, in turn, allocates the basic scheme of transportation among the registered participants, whose advertised and/or statistical profile allows them to take part in such transportation process. It also takes into account alternative delivery plans where it is possible to improve the price and/or time parameters.

ICO

IMMLA plans to raise during the first round ICO around $500,000 (http://immla.io/pre-ico). The first round begins at 00.00 UTC+3, the 15th July 2017 and finishes on the 30th July 2017. Full-fledged ICO will be held on September 2017 and can bring $12,1 million into the project.

The base currency of IMMLA’s Pre-ICO is ETH. During the pre-ICO campaign IML token price is 0,000192 ЕТН, during the ICO this price will grow up to 0,000275 ЕТН. So early birds bonus is 43%. Pre-ICO is successful if more than 577 ЕТН (~$150К) collected, otherwise all funds are transferred to pre-lCO participants.


Images courtesy of Shutterstock, IMMLA

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