AMD revenues to drop due to falling demand in crypto miners

Nextblock Daily Update – January 30th 2019

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Over the last 24 hours, Bitcoin is +1.09%% at $3,460.67

🔼Switzerland-based crypto hardware wallet maker Tangem says it has been selected by the Republic of the Marshall Islands to produce the “physical blockchain notes” for the nation’s planned national digital currency. Tangem announced the news Monday, saying the blockchain notes will be used to store the republic’s Sovereign (SOV) digital currency, which is being launched as an alternative legal tender in the country. Once issued, the SOV will be officially accepted alongside the U.S. dollar.

Over the last 24 hours, Ethereum is +0.66% at $105.93

🔽 Graphics card maker AMD announced its “highest profitability in [seven] years” Tuesday, but expects its revenue to drop next quarter due at least in part to falling demand from cryptocurrency miners. The company brought in $1.42 billion in revenue last quarter, for a 2018 total of $6.48 billion – well above 2017’s total of $5.25 billion, AMD said in its Tuesday earnings release. That said, AMD still missed its target revenue by some $20 million, and the release suggested that its revenue from the crypto mining space has disappeared entirely.

Over the last 24 hours, Ripple is +0.31% at $0.289900

🔼The cryptocurrency market has been attacked by the bear, and XRP has fallen prey to the wrath of the bear. Ripple, on the other hand, had announced an accelerator program for commercial and enterprise companies who wish to join the RippleNet in 2017 and according to the Q4 report a part of 600 million XRP pool will be used in the program to support the XRP ecosystem. The rewards will be funded by the $300 million holding in XRP by the company and will be based on volume rebates along with an adoption marketing incentive, reported Kryptomoney. The Volume Rebates will enable RippleNet members to acquire license and integration-fee rebates when they reach integration and volume milestones within the mentioned deadlines. The rebates will be based on the volume processed and as per the publication, could cover anywhere between 50 to 300 percent of the integration fees and first year’s license fees.

Today’s Stats:
Top Volume: Bitcoin ($5,589,889,886)
Top Mover: empowrcoin (+22.32%)
Top Shakers: Aurora (-18.81%)

(Based on the Top 100 Cryptocurrencies by Market Cap)

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