The last 24 hours have been largely quiet in the cryptocurrency world. With charts for the top 20 coins mostly stationary, barring a 5% upswing in the prices of both VeChain and Bitcoin Cash, the limelight is on cryptocurrency adoption…
Coinbase is boasting a 1000% increase in their transaction capacity since last year, along with an impressive 1000 dedicated staff. Meanwhile, SEC commissioner Hester Peirce delivered a hopeful speech for investors, discussing tokens and other crypto regulation. Finally, VeChain and PwC shared their 2018 market survey for non-financial blockchain adoption in China.
Before we dive into those stories, you should know this week’s hottest story: some of Wall Street’s biggest names are pushing to open Bitcoin exchanges of their own.
Top Bitcoin & Crypto News Stories for 10th May, 2018
Coinbase has long been the fiat exchange of choice for investors big and small. However, it has struggled to impress clients with its questionable stability and inconsistent customer support, especially through the huge expansion the cryptocurrency market has experienced since 2016.
In this recent report, Coinbase boasts a 1000% increase in their transaction capacity since Q3 of 2017, and claims to have a worldwide team of over 1000 dedicated personnel. The report doesn’t hesitate to share their battle against platform instability, with over 99.99% uptime in the month of April.
Also of note is a recent $8 billion valuation for the company, up significantly from the previous quote of $1.6 billion.
The SEC is tasked with regulating all sorts of securities across the USA, and so it’s no wonder their name crops up with every discussion of cryptocurrency regulation.
This week, SEC commissioner Peirce delivered an open-minded speech on the topic of ICOs, tokens, and the cryptocurrency market as a whole. His words are generally good news for the market; quotes such as “There is a risk, when something truly innovative comes along, that regulators will focus only on the harms the innovation may bring and miss entirely the opportunity it presents to improve people’s lives” suggest a more lenient approach to regulation in the cryptocurrency market than previously anticipated.
Adoption is a topic on everyone’s minds, so when global professional service provider PricewaterhouseCoopers (PwC) team up with one of East Asia’s top crypto projects — VeChain — to conduct a market survey about China’s view on the blockchain, it’s no joke.
Over 85% of respondents saw the blockchain as being inherently “tamper-resistant”, while many of them were optimistic about the future of its usage — especially within those who had a firmer grasp on the industry.
The report also explores industries that might seek to benefit from blockchain usage, proposing the logistics industry as the runner-up to finance.