Cryptocurrencies are in the red Friday morning as market sentiment remained hurt amid a lack of positive triggers. Bitcoin continued to trend lower with short-lived attempts to rebound.
Market capitalization also kept eroding and as of 11.07 am ET, overall cryptocurrency market capitalization was $226.35 billion, while the Bitcoin dominance rate rose to 49.2 percent on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Audius Blockchain Music Sharing Platform Raises $5.5. Mln In New Funding
Audius, which is launching a Blockchain-based music-sharing protocol, announced that it has raised $5.5 million in a Series A funding round. The funding was led by US venture capital firms General Catalyst and Lightspeed. It was supported by other investors including Kleiner Perkins, Pantera Capital, 122West and Ascolta Ventures, all based in the US.
Swiss Crypto Startup Enables Litecoin Fund Transfer Via Telegram Message
Blockchain startup Zulu Republic has launched Lite.im which enables users to interact with the Litecoin (LTC) blockchain to send and receive funds from anywhere in the world where a mobile phone signal is available. The user just has to send a simple message via encrypted messenger app Telegram for fund transfers. It will also support a simple SMS message to send and receive LTC later on.
Maersk, IBM Launch TradeLens Blockchain Shipping Platform
Danish transport and logistics giant Maersk and IBM announced the launch of TradeLens, a blockchain-enabled shipping solution, aiming to promote more efficient and secure global trade. In a statement, A.P. Moller -Maersk and IBM noted that TradeLens, jointly developed by them, brings together various parties to support information sharing and transparency.
ICO Market More Than Doubled But Half Of ICOs Failed
The Initial Coin Offering (ICO) market has more than doubled in a year, but more than half of all ICOs failed to complete their crowd funding, according to a new report. ICOrating.com has released its second quarterly report, titled ICO Market Research Q2 2018.
As of 11.09 am ET, Bitcoin was down 1.05 percent at $6,423.01 and Ethereum was lower by 1.66 percent at $358.93 on Coinbase.
by Jyotsna V