Crypto market keeps showing signs of recovery

Crypto market keeps showing signs of recovery

After suffering a steep plunge last week, the digital asset market began to climb back on Monday after some swings in the global market.

Just before closing for the day with a total capitalization of $404.65 billion USD, the market turned upward reaching the $446.37 billion mark at the moment of writing this article. That meant a capitalization of $41.71 billion in just 60 hours.

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Likewise, the world’s major cryptocurrencies posted mainly gains, while the analysts of the crypto market keep a positive forecast for the total market:

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At the same time, news revealed that the digital market has begun to add transactions from the world’s most important companies. This time we are talking about the Spanish bank BBVA, which became the first international bank to complete a loan through the Blockchain technology.

It was a 75 million euros loan, and thanks to the Blockchain technology the bargaining period –just a few hours– made a huge difference compared to days it usually takes to complete this kind of transactions.

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“Blockchain can offer clear advantages for all sides in the corporate loan market in terms of efficiency, transparency, (and) security... It’s another strong example of how disruptive technology can be used to add value to financial services, something that is central to our strategy,” said BBVA CEO Carlos Torres Villa.

It is to be noted that this pilot test will be running on the private protocol (Blockchain) of Ethereum. BBVA was one of the first international banks to promote, for some years now, not only the Blockchain protocol but the overall cryptocurrency sector.

This news reassures the notion that the financial world keeps transforming and the global financial digitalization is impending.

 

By Omar Cortés

Source: https://www.ft.com/content/8c5a44e8-4878-11e8-8ae9-4b5ddcca99b3

  • Lic. Omar Cortés

    Lic. Omar Cortés

    El Mtro. Omar Cortés cuenta con estudios de Licenciatura en Psicología y Grado Master en Administración de Recursos Humanos. Se especializó en Psicoterapia a través del enfoque de Carl G. Jung, además de Ética y Valores Humanos.

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