Why Bitcoin Tumbled Below $8K
Bitcoin’s price briefly slipped below $8,000 on Thursday for the first time in three months, though the cryptocurrency is still more than double its level at the start of 2019.
What do these bold – and volatile – moves mean for the ecosystem?
David Nage, principal at the Los Angeles-based money manager Arca Funds, discusses his views on this week’s price drop and whether price volatility in cryptocurrencies might turn off big investors.
Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees
Ethereum transaction fees are back on the rise and gaining parity with bitcoin transaction fees.
As seen in data charts provided by blockchain analytics firm CoinMetrics, ethereum surpassed bitcoin in daily transaction fees on Sept. 21. While ethereum has since been maintaining a close parity with bitcoin’s daily transaction fees, bitcoin currently beats out ethereum at roughly $350,000 in fees per day.
Property Blockchain Projects Announced in Northeast Asia, One Sony-Related
In recent weeks, a number of announcements related to blockchain-based real estate initiatives have been made in Northeast Asia. Some involve the participation of major companies and groups – including one with a Sony connection – though most of the activity centers around testing, development agreements and pilot projects.
In early September, SK Securities, a listed Korean brokerage until recently a member of the SK Group, and Kasa Korea agreed to form a venture for the creation of blockchain platform that will allow for the issuing and trading of fractional ownership in property assets, according to a report from Yonhap News.
Kasa Korea was in the first group of 18 companies chosen by the Financial Service Commission, Korea’s main financial regulator, for a so-called regulatory sandbox, whereby normal regulations are lifted in order to allow for innovation.
Also in early September, JLL Japan said that it would be working with a number of companies, including Sumitomo Mitsui Trust Bank, to develop a digital platform for the recording and management of real estate data. In a pilot, the project will be testing whether the blockchain can be used to centralize income and expense information related to real estate property management.