Hi it’s Invest Diva’s Kiana with News BTC and here is your
crypotocurrency update. After a big day for Bitcoin in the futures
market, Ethereum, the second largest cryptocurrency by market cap, still
struggles to break above the key resistance level of $484 versus the
USD.


Ethereum has been considered Bitcoin’s direct competitor by many
investors, but its price is nowhere as volatile as Bitcoin price.
Therefore, Ethereum is less likely to be driving up in a bubble, and
carries less crash risk as of today. On the corporate side, some of the
largest banks in the world have revealed a pilot designed to simplify
compliance using Ethereum. The project was born out of UBS' London-based
fintech laboratory.


Now they have help from Barclays, Credit Suisse,
KBC, SIX and Thomson Reuters. Also known as the Massive Autonomous
Distributed Reconciliation (Madrec) platform, this project was designed
to make it easier for banks to reconcile a large amount of data about
their counterparties. But it’s not all sunshine and rainbows for the
Ethereum market players.


According to Mashable, A fake version of
popular wallet for Ethereum, called MyEtherWallet, is currently being
sold in Apple's App Store. The app is created by a developer called Nam
Le, with no ties to the makers of the original MyEtherWallet, which
currently exists only as a browser app.


So if you’re into Ethereum
investing, keep your coins safe and do your research before moving your
assets from one wallet to another. Thanks for watching, invest
responsibly, and I’ll see you with more updates tomorrow.