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Crypto Corner: Market Sees Sudden $10 Billion Rally, Italy Unveils 30 #Blockchain Experts, Kuwait Launches #RippleNet Remittance and Huobi Derivatives Market Breaks $1 Billion Trading Volume

December 28th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - December 28, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: Market Sees Sudden $10 Billion Rally, Italy Unveils 30 #Blockchain Experts, Kuwait Launches #RippleNet Remittance

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Crypto Corner

Market Sees Sudden $10 Billion Rally, Italy Unveils 30 Blockchain Experts, Kuwait Launches RippleNet Remittance and Huobi Derivatives Market Breaks $1 Billion Trading Volume

As we enter the final weekend of the year, the crypto market has just seen a sudden $10 billion gain in the course of about an hour. Sinking to about a $120 billion market cap last night, data from CoinMarketCap indicates a $130 billion market cap at press time. This sudden upward momentum has propelled all of the top 15 coins listed by market cap into the green. Despite this movement, Bitcoin (BTC) has still yet to recover its $4000 support level and is currently trading for slightly less than $3900.

Italy's Ministry of Economic Development has published a list of 30 experts who will comprise the country's blockchain strategy. Some notable members include trade association Assobit co-founder Gian Luca Comandini, Italtel head of marketing portfolio Angiolini Giorgio and Blockchain & Society Policy Research Lab board of directors member Marcella Atzori. This follows news that Italy, along with six other EU nations, signed a declaration to promote the adoption of blockchain technology.

The National Bank of Kuwait (NBK) has announced the launch of remittance payments on RippleNet's blockchain network. Called the "NBK Direct Remit", the service will be available "24/7 for all customers" according to the press release. Dimitrios Kokosioulis, deputy CEO of group operations & technology said:

"This service is a significant achievement as it enables our customers to make money transfers within seconds, easily and at their convenience anytime of the day. The launch comes as part of our commitment to responding to the needs of our customers wherever they are around the world, providing them with safe solutions and a global presence in 15 countries."

Cointelegraph reports that daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market (DM) has broken past $1 billion. The Derivatives Market was launched by Huobi Global last month and allows traders to trade Bitcoin (BTC) and Ethereum (ETH) contracts that aim to allow for arbitrage, speculation, and hedging.

According to the company, Dec. 25 saw strong engagement on both the newly-launched DM platform and Huobi's flagship crypto exchange; their combined daily traded volume was purportedly $2 billion.

Sam Mowers, Investorideas

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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

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