Cryptocurrency Prices Remain Stable After Selloff

NEW YORK, January 31, 2018 /PRNewswire/ --

According to industry site CoinDesk, the price of bitcoin held at about $10,000 on Tuesday after it rebounded from recent lows. Recently, the world's largest cryptocurrency by market capitalizations fell below $10,000 due to concerns regarding increasing regulations from South Korea on cryptocurrency trading. According to CryptoCompare, South Korean Won accounted for about 4.8 percent of bitcoin trading volume. For Ethereum, about 9 percent of the trading was made by South Korean Won. For ripple, the third largest cryptocurrency by market cap, South Korea Won account about 31 percent of the trading volume. Glance Technologies Inc. (OTC: GLNNF), Chinanet Online Holdings Inc. (NASDAQ: CNET), Longfin Corp. (NASDAQ: LFIN), NXT-ID, Inc. (NASDAQ: NXTD), Net Element International Inc. (NASDAQ: NETE).

According to data from Coinmarketcap, the total market capitalization of 1509 cryptocurrencies is about 520 billion. It hit its all-time high of about $830 billion earlier this year. According to CNBC, Nolan Bauerle, director of research at CoinDesk, said in an email, "There have been six such large sell-offs since the summer of 2016…The pattern is familiar: Bitcoin falls, finds a bottom and consolidates at previous all-time high. Traders who seek to increase their total bitcoin holdings take a fiat position, or move to another cryptocurrency, then buy back into bitcoin. This massive, global traffic pushes prices back up."

Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Stock Exchange under the Ticker 'GET'. Yesterday the company announced breaking news that, "Glance Technologies Inc. is making a normal course issuer bid through the facilities of the Canadian Securities Exchange. Under the bid, Glance will purchase up to 6.5 million common shares of the currently issued and outstanding common shares of Glance. The normal course issuer bid's start date will be Monday, Feb. 5, 2018, and will not extend beyond 12 months. The firm Glance will be using is Echelon Wealth Partners Inc. Any purchases will be made by Glance at the prevailing market prices of the shares at the time of purchase. All shares purchased will be cancelled. The actual number of shares purchased the timing of purchases and the price at which the shares are bought will depend upon future market conditions and potential alternative uses for Glance's cash resources.

Glance is commencing the bid because it believes that, from time to time, the market price of its common shares may not fully reflect the underlying value of Glance's business and its future business prospects. Glance believes that at such times the purchase of common shares would be in the best interests of the company. Such purchases are expected to benefit all remaining shareholders by increasing their equity interest in Glance.

About Glance Technologies Inc. - Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smart phone users choose where to shop, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards, and interact with merchants. Glance offers targeted in-app marketing, geo-targeted digital coupons, customer feedback, in-merchant messaging and custom rewards programs. Glance Pay entered into significant licensing agreements to license its technology totalling approximately $9-million in the past year. It has also recently purchased an end-to-end blockchain solution for a rewards-based cryptocurrency as well as printer intercept technology to combine big data analysis with artificial intelligence to deliver targeted offers to consumers."

Chinanet Online Holdings Inc (NASDAQ: CNET) announced earlier this month a strategic partnership with Wuxi Jingtum Network Technology, a blockchain ecology builder and announced the expansion into the blockchain industry and its related technology. Both companies will utilize their respective advantages and exchange each other's work together to jointly develop blockchain applications. Through the contribution of underlying technologies in the blockchain, Jingtum Technology aims to develop a new generation of value-based internet technologies in China helping to upgrade from an information-based network to a value-based exchange network, establishing a credible ecology and promoting preparation as Chinese enterprises enter a new era of digital assets.

Longfin Corp. (NASDAQ: LFIN) is a US-based, global FinTech company powered by Artificial Intelligence (AI) and Machine Learning. The company, through its wholly-owned subsidiary, Stampede Tradex Pte. Ltd, delivers foreign exchange and finance solutions to importers/exporters and SMEs. On December 15, 2017, the company announced the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins. Ziddu Coin is a smart contract that enables SME's, processors, manufacturers, importers and exporters using cryptocurrencies across continents. Ziddu Coins are loosely pegged to Ethereum and Bitcoin. The importers/exporters convert offered Ziddu coins into Ethereum or Bitcoin and use the proceeds for their working capital needs.

NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). On December 20, 2017, the company and Cascade Financial Technology Corp (Cascade FinTech) announced an agreement for the joint development of a platform that gives cryptocurrency holders the ability to use the value of their currency to make purchases at millions of retail locations worldwide. The new platform will enable devices with stored value exchanged from cryptocurrency to be used for traditional payment transactions. Under the agreement, which is an extension of a current relationship between FitPay and Cascade, the two companies will collaborate to create a platform that seamlessly transfers cryptocurrency value into widely accepted forms of payment and stores that value on devices capable of making contactless payments. This will give cryptocurrency holders the ability to make transactions with value derived from cryptocurrency at any near field communication-enabled point of sale terminals.

Net Element International Inc (NASDAQ: NETE) announced that it has completed a $7.55 million private placement of restricted common stock and warrants with a New York-based family office that has made several investments in companies with blockchain technology platforms. The investor purchased shares of the Company's restricted common stock, and five-year warrants at a price of $11.245 per unit, each unit consisting of one share of common stock and 60% of a warrant at an exercise price of the stock's consolidated closing bid price of $11.12 on December 29, 2017. "We are delighted to receive a significant investment that will help ensure full scalability of our platform and accommodate the Company's anticipated future growth as well as the development of our value-added services blockchain platform," commented Oleg Firer, CEO of Net Element. "The Company's balance sheet is now the strongest in its history, allowing Net Element to support future growth opportunities."

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