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MARKETS LIVE BLOG:

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Crypto Prices Advance; JD.com Launches Blockchain Platform

Investing.com
Cryptocurrency prices advanced on Monday
Cryptocurrency prices advanced on Monday

Investing.com - Cryptocurrency prices advanced on Monday. Reports that Chinese e-commerce giant JD.com said it was launching a blockchain platform received some focus.

Bitcoin was up 1.5% to $6,452.6 at 1:40AM ET (05:40 GMT) on the Bitifinex exchange.

Ethereum traded 2.1% higher to $298.1 on the Bitifinex exchange.

Ripple jumped 5.0% to $0.34002 in the last 24 hours on the Poloniex exchange, while Litecoin gained 0.3% to $57.460.

JD.com announced on Friday that the new blockchain platform, named “JD Blockchain Open Platform”, would target enterprise clients and help their customers to develop, host, and apply their own blockchain apps for operation management.

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JD clamed that the solution would help their clients to speed up operation process, including tracking goods, property assessment and transcation settlements, among others.

“JD Blockchain Open Platform is a culmination of the expertise and experience in blockchain technology that we initially developed for our own operations, to provide more visibility to consumers,” said Jian Pei, the head of JD’s big data and smart supply chain unit.

“As we continue to open our technology and infrastructure up to other companies, we are pleased to have CIPC as our first blockchain platform customer.”

In other news, Analysts from Bernstein & Co said last week that revenue generated from cryptocurrency exchanges could double this year despite the recent slump in prices of digital assets.

In a report titled “Crypto Trading – the Next Big Thing is Here,” the analysts said traditional financial firms are unlikely to push into crypto spot trading in the near future as they are concerned over regulations and money laundering.

Bernstein added that Coinbase, a U.S. exchange backed by traditional banks, exchanges and venture capital, may end up with an “unassailable competitive position” unless Wall Street becomes more engaged.

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