NEW YORK, April 23, 2018 /PRNewswire/ --
Strong performance of major cryptocurrencies sent the total valuation of the cryptocurrency market higher on Friday. According to data from CoinMarketCap, Bitcoin, the largest cryptocurrency by market capitalization, rose 2.86 percent to $8,477.21 during last Friday's trading session and continued higher over the weekend. Bitcoin is on track to its first back-to-back weekly gain this year. Ripple, Bitcoin Cash and EOS led the rally on Friday. Ripple jumped as much as 17 percent to $0.85, Bitcoin Cash climbed 11.48 percent to $1,066.28, while EOS add 12.47 percent to $10.48. The total cryptocurrency marketcap crossed the $375 billion mark last Friday. Chineseinvestors.com, Inc. (OTC: CIIX), Eastman Kodak Co (NYSE: KODK), Pareteum Corporation (NYSE: TEUM), Taiwan Semiconductor Manufacturing Co. Ltd (NYSE: TSM), Seven Stars Cloud Group, Inc. (NASDAQ: SSC)
Cryptocurrency traders attributed the rally in major cryptocurrencies to the end of tax season in the U.S. Bitcoin price rose about 8 percent since Tuesday, the deadline to file taxes this year. Bitcoin gained about 25 percent over the last two weeks. Another reason for the recovery is considered to be a short squeeze in bitcoin. According to Bloomberg, John Spallanzani, a portfolio manager at Miller Value Partners, said: "Tax selling is over, larger hedge funds have entered the market with deep pockets and strong hands, all positive signs"
Chineseinvestors.com, Inc. (OTCQB: CIIX) announced breaking news earlier today that, "the expansion of its cryptocurrency and blockchain technology media and internet education business into China. In April 2018, the Company established a wholly owned foreign enterprise, NewCoins168.com Digital Media Technology Ltd (Shanghai), registered in China Free Trade Zone with registered capital of 10M RMB.
The Company's United States counterpart http://www.newcoins168.com, established in November 2017, headquartered in New York City at 40 Wall Street in the Trump Building, currently staffs 5 editorial reporters. According to the Company's CEO, Warren Wang, "In the coming year, we anticipate hiring 10-15 additional editors in Shanghai to work in conjunction with the New York and Los Angeles editors to provide 24/7 coverage of the latest global cryptocurrency and blockchain industry developments and trends."
Most recently, the Company appointed Serena Ma as its new Editor-in-Chief in the New York office. Ma earned her Bachelor's degree in journalism and economics in China and went on to obtain a Masters in journalism from Indiana University in 2012. Ma previously worked as Senior Editor for People's Daily English in downtown Los Angeles, California.
"We are pleased that since its launch in 2018, http://www.newcoins168.com has become a well-known cryptocurrency and blockchain technology information portal among the North American Chinese community. We are looking forward to gaining popularity among the Chinese community worldwide and expanding into the China market," says the Company's CEO Warren Wang. "The Chinese website is intended to provide entry-level cryptocurrency and blockchain technology information. In addition, the Company plans to launch a mobile app that will provide timely, 24/7 news and analysis covering cryptocurrency and blockchain technology for the global Chinese community. ""
Eastman Kodak Co (NYSE: KODK) announced earlier this year that together with WENN Digital it launches the KODAKOne image rights management platform and KODAKCoin, a photo-centric cryptocurrency to empower photographers and agencies to take greater control in image rights management. Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take part in a new economy for photography, receive payment for licensing their work immediately upon sale, and for both professional and amateur photographers, sell their work confidently on a secure blockchain platform.
Pareteum Corporation (NYSE: TEUM) announced recently that it has published a whitepaper to explore the opportunities that Blockchain enables including security, identity management and settlement. The whitepaper begins with defining how Blockchain supports the integration of various forms of traditional and next generation payment models. Providing real-world use cases, the whitepaper demonstrates how Blockchain relates to the communications market. The Whitepaper explores how the Pareteum Global Cloud Service Platform supports Blockchain enablement and why it's important for mobile solutions providers to understand the basics of this new technology.
Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) in January announced consolidated revenue of NT$277.57 billion, net income of NT$99.29 billion, and diluted earnings per share of NT$3.83 (US$0.64 per ADR unit) for the fourth quarter ended December 31, 2017. Lora Ho, SVP and Chief Financial Officer of TSMC explained, "Our fourth quarter business was supported by major mobile product launches and continuing demand for cryptocurrency mining… Moving into first quarter 2018, we expect the strong demand for cryptocurrency mining will continue while mobile product seasonality will dampen our business in this quarter. Based on our current business outlook, management expects the overall performance for first quarter 2018 to be as follows."
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) together with Delaware Board of Trade ATS, LLC ("DBOT"), jointly announced the first and only blockchain based Alternative Trading System ("ATS"), has optimized its DBOT ATS platform with SSC's Next Gen X's global issuance and trading capabilities. The newly branded trading platform, operational and live Wednesday, February 14, will be branded as: DBOT ATS, Powered By Next Gen X. DBOT ATS LLC is regulated by FINRA. Seven Stars Cloud's Next Gen X, will "power" DBOT by bringing global digital funding opportunities, offerings and liquidity to the DBOT platform through secondary trading.
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