Latest Changes in Blockchain Sphere: This Week’s News

Latest Changes in Blockchain Sphere: This Week’s News

Red Bull turns to crypto, BATMs are invading the world and 10 million XRP sold – these and other latest news from blockchain world are presented in the digest below.

Red Bull Attracts New Customers with Crypto

The brand Red Bull is giving Kik platform’s Kin tokens as a reward for filling in online questionnaires.

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The company Swarovski has also joined the process and exchanges tokens for spent time while answering questions. 

Companies are doing that through the online system Swelly which researches the market and presents surveys to Kik’s users.

This way, organizations understand the expectations of their customers better and help the development of Kinit – new Kik’s app released last month.

BATMs Are All Over the World has reported that 3,500 Bitcoin ATMs are already installed all over the world.

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Over 1,800 of them also support altcoins such as LTC and ETH. According to the report, around 2,600 are installed on the territory between USA and Canada.
An estimation states that around 9 BATMs are installed every day. The usual places for their installation are fast food restaurants, cinemas and shopping centers.

Yale Economists Created Ways to Predict Cryptocurrency Prices

Financial experts from Yale University have suggested two factors for making crypto price predictions. In their study, economists have analysed the historical performance of BTC, ETH and XRP.

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Economists came to the conclusion that price influencing factors are only specific to crypto markets. The first factor is the “strong time-series momentum effect” – if BTC’s price is growing the whole week, it will probably keep increasing the next week. 

The second factor is the investor’s attention – it refers to the correlation between crypto price and the amount of crypto mentions in social media.

Shinil Group’s ICO Project Is Suspected of a Financial Fraud

The office of Shinil Group company was investigated by the police, and the organization is suspected of a fraud.

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On July 15, Shinil Group has announced it found a wreck of the Russian warship that disappeared in the beginning of 20th century.
It was also stated that the ship contained 200 tons of gold, worth 130 trillion won ($116 billion). 

After the announcement, the company has issued its cryptocurrency Shinil Gold Coin (SGC) backed by found treasure and launched an ICO.
The investors were told that by the end of 2018, token’s price would rise up to 10,000 won from current 200 won.

After that, the company made a correction and estimated the treasure’s value worth 10 trillion won. However, in the document, it estimated the value worth 1.2 billion won.

Account with Over Billion XRP Sold 10 More Million Ripple Coins

A Ripple account which has had 1.08 billion XRP since 2015, has sold 10 million coins worth $5 million.

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In the period between March and April 2018, the account’s owner has sold 100 million coins, with another 30 million XRP later.

The owner of the account remains unknown, however, there are rumours that it may be the founder of Ripple Jed McCaleb. It is still questioned as, according to the agreement with the company, he is not able to sell his holding that fast.

The recent coin’s fall in price by 4% is thought to be caused by this account.

Don’t miss crypto developments and keep up with the news on the official website of the Blockchain & Bitcoin Conference Stockholm


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