Markets

Sir Richard Branson’s private space tourism company Virgin Galactic Inc. started its trading on the New York Stock Exchange (NYSE) via a direct listing at $12.10 on Monday under the ticker “SPCE”.The move comes after the Galactic merged with Chamath Palihapitiya’s venture Social Capital Hedosophia that gave the new company a combined valuation of $1.5 billion. Branson kept a 51% stake in the business.CEO George Whitesides said:“Virgin Galactic is making history again today as it becomes the...

Stocks in Chinese blockchain A-share companies “maxed out” to their 10% daily limit after a president Xi Jinping focused the attention of the public to the potential of the technology encouraging digital currencies, increasing the rise in related stocks and Bitcoin, which for the short time, though, went over $10,000.Xi said China should hurry up with its research into blockchain, the open ledger system that cryptocurrencies rely on. China’s central bank has been developing its own digital...

It seems that Tron (TRX) and EOS became China’s favorite children, at least if it’s to believe newly published CCID Crypto Ranking. The Chinese Ministry of Industry was always perplexing its selection of criteria, putting EOS up at the top based on its innovation.But let’s start with Tron. The Chinese blockchain platform that was previously under strict scrutiny from Beijing, got its satisfaction last week when Chinese President Xi Jinping gave a speech almost celebrating blockchain. China,...

Almost out of nowhere, the bitcoin price surged by 40% within a matter of hours. The rally brought out the bitcoin bulls, along with their starry-eyed price forecasts. But what if this historic bounce is also the last one the cryptocurrency will ever see? After dropping for months, bitcoin’s price spiked 40 percent when China’s president announced the country’s embrace of blockchain technology. This marked the third-biggest 24-hour rally in bitcoin’s history and sent the cryptoverse...

XRP saw a small price increase of around 1.48% over the past week and it currently trades at $0.2975. The cryptocurrency has been relatively quiet whilst the rest of the market surged and it failed to close above the $0.30 resistance level. This is perhaps due to the fact that XRP began to fell against BTC. Nevertheless, XRP remains the third-largest cryptocurrency with a market cap of $12.82 billion.Looking at the XRP/USD 1-Day Chart:Since our previous XRP/USD analysis, the cryptocurrency...

FeaturedThe introduction of Bitcoin and cryptocurrencies to the financial sector has undoubtedly created a plethora of novel opportunities to produce financial returns. One such opportunity is PrimeXBT’s affiliate program, which claims to be one of the “most profitable” systems of its kind in “the world.”PrimeXBT recently revealed in a blog post that it would be expanding and diversifying its affiliate offering, which has already netted users hundreds of thousands of dollars since its launch...

The vice-chairman of the China Center for International Economic Exchanges (CCIEE), Huang Qifan, has said that his country will launch the first-ever blockchain-based central digital currency. While he doesn’t believe in Facebook’s potential digital currency, Libra, he feels that such currencies are actually needed in the market as current payment methods appear to be outdated.China’s Central Bank to Launch a Digital CurrencyHuang spoke at the Inaugural Bund Financial Summit of 2019, which is...

The latest increase in the cryptocurrency market had an impact on the price of TRX as well. However, despite the fact that the market is stalling today, Tron’s surge continues. The most recent news coming from China appears to have impacted most of the market, especially Chinese-based projects. However, apart from that, Tron recently announced a few major updates which may have also boosted its value against both USD and Bitcoin.Updates From TronJust today, an official announcement from the...

Recently Bakkt announced that they had set a new daily record. They traded 1,183 contracts, respectively. One contract equals one Bitcoin, which means that the total volume was around $11 million. Also, this aligned with the recent Bitcoin price surge of 40%. This set people running back to the exchanges to grab a piece of the pie.Also, China news was a big factor in the recent surge in volume and Bitcoin price. China recently announced that they officially will embrace blockchain technology....

While this may come as a surprise to many but the less known and less trendy Pinduoduo has overtaken the upscale internet retailer JD.com both in share price and valuation. The share price rose on NASDAQ more than 12% to $39.96 giving it a market capitalization of $46 billion ahead of JD’s $45 billion. This makes Pinduoduo the 4th largest internet Chinese company whose shares are listed in another country with Meituan at $65.572 billion, Tencent at $385 billion, Alibaba at $449 billion. This...