The State Of The Market: After the total market cap fell to a new 2018 low of $188.6 billion yesterday, it is back up today. The market cap is back above $200 Billion once again, at $200.8 Billion, gaining $12 Billion in the last 24 hours. The rally was let by Ethereum (ETH), which is now priced at $203.35, gaining 17.17% in the last 24 hours. Bitcoin (BTC) also saw small gains and is currently at $6,538.41, increasing by 3.73%. After the recent freefall, today’s trend reversal was much needed to prevent further bleeding.

1) Huobi Global’s Japanese subsidiary, Huobi Japan Holding Ltd has announced that it has acquired a majority stake in BitTrade. BitTrade is one of the 16 regulated cryptocurrency exchange in Japan. Huobi Japan’s President Haiteng Chen is now the chairman of BitTrade. Chris Lee, the former CEO of OKEx and Huo Li, Huobi Capital Inc. CEO will join as outside directors. Huobi is one of the world’s largest exchange, which saw a volume of $630 Million in the last 24 hours (read more).

2) The cryptocurrency market reached a new low of $187 Billion yesterday, from its peak of $830 Billion in January. The crypto crash is now officially larger than the dot-com crash. The crypto crash has now crossed 80% from its peak, while the Dot-com crash was only 78%. However, internet companies have made a comeback, to become the first Trillion dollar companies in the US. The market has already recovered and is above $200 Billion right now (read more).

3) Money Tap, a popular money transfer app in Japan has announced that it is going to provide a connection between 60 Japanese banks using Ripple’s technologies. Money Tap is a simple money transfer application, which charges no fee. Money Tap is coming out with an app for iOS and Android later this year, and is bringing more than 80% of the Japanese banks with it (read more).

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