Current Cryptocurrency Market Developments
NEW YORK, November 13, 2017 /PRNewswire/ --
According to a report published by Market Research Future, the cryptocurrency market is expected to grow to about USD 51 billion by 2023, with a compound annual growth rate of 14 percent. The report indicated that the major drivers of the growth in cryptocurrency market are rising demand for better income saving structure, advanced technology implementation as well as improving safety and security associated with the currency, increase in purchasing power of people, elimination of third party and less chances of security threats. North America has the largest market share due to better network infrastructure. LottoGopher Holdings, Inc. (OTC: LTTGF), MGT Capital Investments, Inc. (OTC: MGTI), HIVE Blockchain Technologies Ltd. (OTC: PRELF), Overstock.com, Inc. (NASDAQ: OSTK), BTCS Inc. (OTC: BTCS)
The surge in cryptocurrency prices also helped boost the market. Bitcoin cash, which was split off from bitcoin in August, jump over 36 percent on Friday. The price of bitcoin cash hit a three-month high of $872.24, according data from Coinmarketcap. Chris Burniske, author of "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond.", said in a CNBC report: "You can see people playing back and forth between bitcoin and bitcoin cash trading depending on where they think near-term catalysts may be...It's been a battle of investors versus traders that were stockpiling bitcoin to get their bitcoin2x dividend."
LottoGopher Holdings Inc. (OTCQB: LTTGF) is also listed on the Canadian Securities Exchange under the ticker symbol "LOTO". Earlier today the company announced breaking news that, "the addition of Jeff Koyen as an Independent Advisor. Mr. Koyen will guide the company in developing and launching applicable blockchain technologies as it relates to online lottery, including the verification of ticket ownership on a public ledger. Mr. Koyen, a cryptocurrency and blockchain investor, trader and enthusiast, is also an award-winning journalist and media strategist. Previously, he held editorships with New York Press, Forbes Traveler, Travel and Leisure, Dow Jones Mansion Global, Vocativ, and Digiday. He was recently appointed Strategic Advisor for 360 Blockchain.
"There is a great opportunity for LottoGopher to lead both lottery messenger services worldwide and the traditional state-operated lottery industry in setting a new standard for transparency and security using blockchain technology," commented Jeff Koyen. "A blockchain is essentially an incorruptible ledger of transactions, with the information spread across a network of computers, constantly updating. Both online and traditional lotteries could benefit from the development of a 'Lottery Blockchain' to increase trust and visibility for the ownership of the actual ticket."
"We are very pleased to welcome Jeff to the Advisory board to lead our lottery blockchain initiatives," commented James Morel, CEO of LottoGopher. "Jeff's knowledge and experience will be invaluable to LottoGopher in our drive to implement blockchain technology to improve compliance and transparency in the lottery industry. It has been and will continue to disrupt the way businesses operate into the foreseeable future, and we are in preparations now to leverage this technology for lottery-specific applications."
Mr. Koyen is currently the President of Chaotic Neutral, an incubator LLC for companies and projects. Previously, Mr. Koyen was CEO of Assignmint.com.
What is a 'Blockchain'? Digital Data named "blockchain" the top trend for 2018. The global blockchain industry is estimated to be worth anywhere between $7-$20 billion by 2024, with around 90 percent of the banks in Europe and North America reported to be exploring the technology already. A blockchain is a decentralized, digital public ledger of all cryptocurrency transactions. The ledger is continuously growing as 'completed' blocks (transactions) are recorded and added in chronological order. Market participants keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) receives a copy of the blockchain, downloaded automatically."
MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Recently, the company announced that it has executed a Distribution Agreement with Interwork Technologies for the marketing and sale of the Company's Sentinel network intrusion device. The agreement is non-exclusive and covers the North American marketplace. Interwork is one of the largest value-added specialty distributors of cybersecurity, information management and network solutions. Interwork provides its 2,500 reseller channel partners with the technology expertise and support required to effectively bring products to market.
HIVE Blockchain Technologies Ltd. (OTC: PRELF) is a growth oriented company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based cryptocurrency mining facilities in Iceland, which produce mined cryptocurrency like Ethereum around the clock. On October 23, 2017, the company announced that it has entered into a legally binding letter agreement with its largest shareholder Genesis Mining Ltd. under which the Company will finance the construction of a cryptocurrency mining data centre in Sweden. The Sweden Data Centre will be a newly constructed GPU mining facility with an anticipated completion date of December 2017. The Company's cryptocurrency mining capacity or hashpower is expected to increase by approximately 175% with the addition of the Sweden Data Centre.
Overstock.com, Inc. (NASDAQ: OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, decor, rugs, bedding, and home improvement. Recently, the company reported financial results for the quarter ended September 30, 2017. Other income was $5.9 million for Q3 2017, The increase is primarily due to an increase in realized gains on sales of cryptocurrencies and precious metals of $5.5 million. In August 08, 2018, the company announced an integration with ShapeShift, the world's leading instant digital asset exchange, that allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash, to buy online from Overstock's selection of nearly 4 million products.
BTCS Inc. (OTCQB: BTCS) is an early entrant in the Digital Asset market and one of the first U.S. publicly traded companies to be involved with Digital Assets and blockchain technologies. On October 25, 2017, the company announced it has closed on the remaining balance of its previously announced financing, which was co-led by Blockchain Global Ltd. Blockchain Global (formally Bitcoin Group) is a leading multi-national pure-play Blockchain Technology company operating across four business segments, including transaction verification services, an institutional exchange platform, a blockchain start-up accelerator, and a blockchain technology consultancy.
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and PR services by a third party non-affiliate for lottogopher holdings inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news dissemination and PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com.
For further information:
Media Contact:
info@financialbuzz.com
+1-877-601-1879
URL: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
