Bitcoin News Crypto Currency Daily Roundup October 16

The rundown: Bitcoin and all major currencies – except LTC and XRP – were up in the morning; Magic Cube releases the results of its first initial game offering; Cryptic Labs partners with Fractal Platform to solve some fundamental limitations of blockchain; cryptocurrency exchange Bithumb is holding a new registration event for new global cryptocurrency users; Fidelity Investments plans to launch a cryptocurrency trading and storage platform; Kenya to use blockchain technology for managing a housing project; and the Philippine’s Cagayan Economic Zone Authority grants licenses to 19 companies to operate crypto exchanges.

Here is what is happening in the cryptocurrency market on Tuesday.

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In the News

Magic Cube, a Chinese-based public blockchain platform, has released the results of its first initial game offering, launched by the company’s in-house social casino application Lulu. According to the company, transaction volume exploded after its offering resulted in a daily revenue peak of ¥400,000 RMB, or around $57,714.24.

Cryptic Labs has teamed up with Fractal Platform to solve some fundamental limitations of blockchain. According to a press statement, the partnership will provide economic modeling and bespoke research related to Fractal’s proof-of-stake consensus algorithm. Their approach is capable of processing 10,000 transactions per second, much more than most current blockchains support, while also offering future-proof security, increased decentralization, and multiple layers of transparency.

Bithumb, a global cryptocurrency exchange, is offering a new registration event for new global users of cryptocurrency. The exchange will hold the event from October 15 to November 14, 2018 (GMT +9) Korean Standard Time. The event is for overseas users who have signed up for the Bithumb and completed transactions over KRW 20 Million (Approx. USD 17,490, Bithumb cash standard).

Fidelity Investments announced plans to launch a cryptocurrency trading and storage platform. In a statement, the financial service provider said that Fidelity Digital Asset Services will offer cryptocurrency custody and trading services to enterprise clients.

Kenya plans to use blockchain technology to manage a housing project of 500,000 units, the Kenyan newspaper Star reported. The Kenyan government wants to build 500,000 units by 2022.

The Philippine’s Cagayan Economic Zone Authority has issued provisional licenses to 19 companies to operate crypto exchanges. The authority has published a list of all 27 companies wanting to launch crypto exchanges. It is currently reviewing applications of eight companies for Financial Technology Solutions and Offshore Virtual Currency and Offshore Virtual Currency licenses.

Cryptocurrency Prices Today (As of 8:03 AM EST)

Bitcoin (BTC) is down 0.58% over the past 24 hours, trading at $6,629.78.

Ethereum (ETH) is trading at $210.36 in the morning, down 0.33% over a 24-hour period.

EOS is trading at $5.57, down 1.24% over the past 24 hours.

Ripple (XRP) is trading at $0.4637, up 1.73% over a 24-hour period.

Litecoin (LTC) is trading at $55.03, up 0.44% over a 24-hour period.

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