Value of Cryptocurrencies Continues to Rise


Last Friday, Cryptocurrency ethereum rose to a new record high or surpassing $1,000 for the first time. According to Coinmarketcap, ethereum rose 9.74 percent to an all-time high of $1,138.72. Ethereum is now up more than 30 percent since the beginning of the year and has a market value of about $110 billion. Ripple’s XRP also rose 7.68 percent to $3.34 on Sunday, remaining as the second largest cryptocurrency by market capitalization. Bitcoin, the largest cryptocurrency by market cap, climbed back to about $16,500. Mogo Finance Technology Inc (OTC: MOGOF), Riot Blockchain Inc (NASDAQ: RIOT), Longfin Corp (NASDAQ: LFIN), Seven Stars Cloud Group Inc (NASDAQ: SSC), Chinanet Online Holdings Inc (NASDAQ: CNET).

According to Coinmarketcap, the total value of the cryptocurrency market now reaches $824 billion. According to CNBC, Charles Hayter, CEO of Crypto Compare, explained, “The Ethereum Foundation has started issuing grants to help it scale… This network effect will galvanize the community and help ethereum to throw off its growing pains… All the alternative cryptocurrencies are having a healthy run into the new year as traders reallocate and jump from hot theme to theme.”

Mogo Finance Technology Inc (OTCQX: MOGOF) also listed on the TSX Exchange under the ticker symbol “MOGO”. Just earlier today the company announced breaking news that, “blockchain pioneer and expert, Anthony Di Iorio has joined Mogo as a Special Advisor to support the upcoming launch of Mogo’s recently announced cryptocurrency account and new strategic partnership opportunities in blockchain and cryptocurrencies.

Di Iorio is the co-founder of Ethereum, an open-source, blockchain-based distributed computing platform. Currently, he is the CEO and founder of Decentral Inc., where he created the Jaxx.io multi-asset blockchain interface. Jaxx is a multi-token blockchain wallet that enables crypto-to-crypto buying and selling with frictionless in-wallet conversion. Di Iorio is also the founder of the Blockchain Association of Canada, an industry-funded association that serves as a strong advocate for blockchain technology in Canada and works with all levels of government and other stakeholders to support employment growth and career opportunities in blockchain technology.  

“We are incredibly pleased to welcome Anthony to the Mogo team. He is an accomplished entrepreneur and business leader and widely regarded as a thought leader in blockchain and digital currencies,” said David Feller, Founder and CEO of Mogo. “Our goal in launching MogoCrypto is to provide an opportunity for all Canadians, many of whom may be new to bitcoin and cryptocurrencies, to participate in this market in a way that is easy and transparent and through a brand they trust. Mogo’s app was built to provide consumers with an easy way to manage their financial health, and as cryptocurrencies become more mainstream, the ability to buy and sell in our existing multi-product mobile account will provide a compelling value proposition that is unique in Canada. With 500,000 members and growing, national marketing reach, and our mobile-first technology platform, we believe Mogo is uniquely positioned to be the leader in bringing cryptocurrencies to the masses and we look forward to leveraging Anthony’s experience and insight as we execute on this plan and capitalize on the tremendous potential of blockchain in financial services.”

“If the Internet unlocked information, blockchain is unlocking value transfer. Mogo has built a powerful platform that is empowering the next generation of Canadians to gain control of their financial health with innovative digital finance products,” said Di lorio. “Blockchain and cryptocurrencies are a natural extension for Mogo as it’s a truly disruptive technology that can remove expensive manual processes that are traditionally used by financial institutions and ultimately help consumers. The company’s large fintech team, quickly growing member base and increasingly recognized brand are a massive advantage in an industry where trust and scale matter.”  

Greg Feller, President of Mogo, added: “Blockchain technology will clearly have a profound impact on the next generation banking experience, and we are excited to add Anthony to the team as we advance our product roadmap and work to leverage the power of our technology platform to make cryptocurrencies accessible to more Canadians.”

Riot Blockchain Inc (NASDAQ: RIOT) announced last month that its majority owned Tess Inc. has entered into a non-binding letter of intent (“LOI”) to merge with Cresval Capital Corp. TessPay is a blockchain company developing a supply chain payment platform for businesses to attempt to guarantee payment on time and in full. After the closing of the anticipated merger, TessPay will be publicly traded on the TSX Venture Exchange and change its name to “TessPay Inc.” The LOI provides that TessPay will be issued 80,000,000 shares of Cresval, and the present shareholders of Cresval will retain 8,400,000 shares of the combined company TessPay post-merger. Riot Blockchain will receive 41,600,000 shares resulting from its 52{dd45967e3c80c098848607e039f394f1d71abf9d2616a5f41310bf044a124834} ownership of TessPay.  

Longfin Corp (NASDAQ: LFIN) recently announced the acquisition of Ziddu.com, a Blockchain technology empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Warehouse Coins to small and medium enterprises (SMEs), processors, manufacturers, importers and exporters using crypto currencies across continents. Ziddu Warehouse Coin is a smart contract that enables Importers and Exporters to use their Ziddu coins that are loosely pegged to Ethereum and Bitcoin Crypto Currency. The Importers/Exporters convert offered Ziddu coins into Ethereum and Bitcoin Cryptocurrencies and use the proceeds for their working capital needs.

Seven Stars Cloud Group Inc (NASDAQ: SSC) Chairman and CEO Bruno Wu announced in the end of December a brief update on how the Company’s digital asset securitization solutions differ from ordinary cryptocurrency: “Seven Stars Cloud is a next-generation Artificial Intelligence and Blockchain-Powered Financial Technology Company with one of its focuses being the delivery of digital asset securitization solutions.  With the intersection of technology and finance constantly progressing and evolving at a high-speed pace, and with the persistent misunderstanding about cryptocurrencies, it’s important to me to make sure that both investors and future business partners comprehend the concise but vital differentiation between Seven Stars Cloud offerings and others.”

Chinanet Online Holdings Inc (NASDAQ: CNET) last week announced a strategic partnership with Wuxi Jingtum Network Technology, a blockchain ecology builder and announced the expansion into the blockchain industry and its related technology. Both companies will utilize their respective advantages and exchange each other’s work together to jointly develop blockchain applications. Through the contribution of underlying technologies in the blockchain, Jingtum Technology aims to develop a new generation of value-based internet technologies in China helping to upgrade from an information-based network to a value-based exchange network, establishing a credible ecology and promoting preparation as Chinese enterprises enter a new era of digital assets.

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