#CryptoCorner Episode 378 - #Bitcoin Back Above $5K, Bakkt Reveals Payment Integration with Starbucks (NasdaqGS: $SBUX), BIGG (CSE: $BIGG.C) Subsidiary Netcoins Sees 120% Volume Increase and Toyota (NYSE: $TM) Announces #Blockchain Lab
Point Roberts, WA, Delta BC March 18, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Bitcoin Back Above $5K, Bakkt Reveals Payment Integration with Starbucks, BIGG Subsidiary Netcoins Sees 120% Volume Increase and Toyota Announces Blockchain Lab
Stocks discussed: (NYSE:ICE) (NasdaqGS:SBUX) (CSE:BIGG) (NYSE:TM)
Since the last episode of Crypto Corner, Bitcoin (BTC) has poked its head above $5,000 and been more or less stable around $5,150 - $5,200 for the last couple of days, according to data from CoinMarketCap. This may seem modest when set against its trading price a week ago ($7,850), but represents a recovery of $600 from Monday’s low of $4,600. A big question is how Bitcoin, and the wider crypto market, will react to the newly announced round of quantitative easing. This recent market devastation seems to have indicated that Bitcoin is not uncorrelated to traditional markets, but the former’s built-in scarcity, amplified by the impending “halvening”, is expected to position it favorably against the Fed’s printing of new dollars. However whether scarcity is enough to confer value remains to be seen.
Bakkt, the crypto arm of Intercontinental Exchange (NYSE:ICE), has revealed payment integration with Starbucks (NasdaqGS:SBUX). Bakkt President Adam White tweeted:
As global markets shed trillions of dollars, empowering consumers with new spending power more important than ever
We're also reducing payment costs for merchants which improves their bottom line. Open your
@Starbucks app to see our first direct integration and select @Bakkt to sign up for our Early Access Program
BIGG Digital Assets Inc. (CSE:BIGG) has announced that its subsidiary, crypto trading app Netcoins Inc., has seen in-app trading volumes increase by 2.2x (120 percent) from March 1-16 compared to the first half of February 2019. It has reported $1.87 million in trades, exclusive of OTC volumes. Netcoins President, Mitchell Demeter, commented:
“While the price movements of Bitcoin have been bearish, Netcoins’ trade volumes, as well as those in the overall market, have been exceptionally strong thus far in March. As Netcoins is a crypto brokerage, volatility that drives higher trading volumes bolsters our business. Since last Fall, we have been making steady progress on driving more retail customers, with a usual per trade range from $50 to $1,000, into our Netcoins app to increase trading volumes - which compliments our OTC business. We look forward to providing further updates as Netcoins and the crypto markets evolve in 2020.“
Toyota Motor Corporation (NYSE:TM) and Toyota Financial Services Corporation have announced the launch of a cross-Group virtual organization, Toyota Blockchain Lab. According to the press release, “Areas of focus will include the examination of possible use applications and promoting demonstration trials that include relevant businesses. In addition, with regard to various blockchain platforms around the world, in collaboration with partner companies, we will formulate non-functional evaluation items to accelerate the social implementation of the technology, and accumulate technical knowledge to select a suitable platform for each application.”
Sam Mowers, Investorideas
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