Most cryptocurrencies, including the leader Bitcoin, extended their losses Tuesday morning amid an erosion in market capitalization.
As of 10.46 am ET, overall cryptocurrency market capitalization was $208.88 billion and the Bitcoin dominance rate rose to 53 percent on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
US Crypto Exchanges To Discuss Self Regulation
A number of U.S. cryptocurrency exchanges, led by Gemini Trust, have joined together to discuss setting up a self-regulatory organization in the cryptocurrency industry. The Virtual Commodity Association or VCA, created by Gemini exchange co-founders Cameron and Tyler Winklevoss, will meet for the first time in September.
China’s Atlas Protocol Secures Multi-million Investment Led By Softbank
Chinese blockchain startup Atlas Protocol has secured a multi-million dollar investment led by SoftBank China Capital (SBCVC), followed by Baidu Ventures, Danhua Capital and Fenbushi Digital. The seed amount raised was not disclosed.
US Govt Issues $800K Fund To Develop Blockchain-based Science Project
Blockchain technology researchers at the University of California-San Diego received around $800 thousand grant from the U.S. government. National Science Foundation or NSF issued $818,433 to Subhashini Sivagnanam, a researcher and software architect with the Data Enabled Scientific Computing division.
UPS Files Blockchain Patent To Track Package Delivery
Shipping giant United Parcel Service or UPS has filed for a new patent to use blockchain to assist in simplifying package delivery around the world. As per the documents published by the US Patent & Trademark Office or USPTO, the company has developed a system that utilizes blockchain and distributed ledger technology or DLT to dispatch packages worldwide using multiple carriers.
Capital One Files Patent For Blockchain-based User Authentication
Bank holding company Capital One Financial Corp. has filed a patent application for the methods and systems of using blockchain technology for collaborative user authentication. The patent application, originally filed on June 16, 2017, has been published by the US Patent and Trademark Office (USPTO) last week.
As of 10.48 am ET, Bitcoin was down 0.43 percent at $6,421.00 and Ethereum was lower by 3.02 percent at $277.67 on Coinbase.
by Jyotsna V