Bitcoin and its peers are trading lower Tuesday morning, extending the trend from a day earlier.
In some main news, the trustee in charge of liquidating cryptocurrencies from the defunct Mt. Gox exchange, confirmed on Tuesday that a total $230 million of Bitcoin and Bitcoin Cash was offloaded in the period since March 7.
Overall cryptocurrency market capitalization was $207.89 billion and the Bitcoin dominance rate was 53.6 percent as of 11.11 am ET on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
US Congressman Plans Bills To Support Blockchain, Digital Currencies
US Congressman Tom Emmer, the co-chair of the Congressional Blockchain Caucus, said he will introduce three bills to support blockchain technology and digital currencies. According to him, the federal government should provide a light touch, consistent, and simple legal environment for the crypto industry to develop in the country.
Dubai Finance Dept. Upgrades Payment System With Blockchain
The Dubai Department of Finance or DoF joined with the Smart Dubai Office or SDO for a Blockchain-powered upgrade to its financial system. The new platform, called “Payment Reconciliation and Settlement system,” integrates blockchain technology into Smart Dubai’s online payment portal, DubaiPay.
Walmart Deploys Blockchain To Track Leafy Greens
Walmart and Sam’s Club sent a letter to suppliers of fresh, leafy greens asking them to trace their products from the farm using blockchain technology to ensure food safety. Suppliers are expected to integrate the blockchain-based tracking system in collaboration with IBM by September next year.
Ideanomics To Deploy Blockchain Solution For Major Chinese Ports
US-based technology firm Ideanomics formed a joint venture with APMEN Trade Tech Co Ltd. to deploy an intelligent digital supply chain management platform driven by blockchain and super artificial intelligence (AI) technology for APEC Model E-port Network (APMEN), APEC’s online port clearance system.
As of 11.12 am ET, Bitcoin was down 2.99 percent at $6,410.72 and Ethereum was lower by 10.05 percent at $209.68 on Coinbase.
by Jyotsna V