Top stories in today’s Crypto Roundup:

• China’s President Xi Comments on Blockchain technology
• Huobi Japan Raises $4.6 million From Tokyo-Listed Financial Services Firm
• Justin Sun Hints $100 Billion TRON Partnership Coming Next Week

At the time of writing, bitcoin (BTC) is trading at $9,359 (+1%) with a daily trusted volume of $3.74 b. As for ether (ETH), it is trading at $182.31 (+0.68%) with a daily trusted volume of $553.83 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,139 (-1.70%).

China’s President Xi Comments on Blockchain technology

On Friday, October 25th China's President Jinping Xi gave a speech that "emphasized that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation." 

President Xi's remarks were specifically about blockchain technology and not decentralized cryptocurrencies such as Bitcoin (which China does not approve of), but they should help to accelerate the development and launch of the digital Renminbi (RMB). Many analysts thought that the positive comments from Presiden Xi caused the bitcoin price to surge over 30% during the weekend of trading.

Huobi Japan Raises $4.6 million From Tokyo-Listed Financial Services Firm

Huobi Japan has raised $4.6 million from a Tokyo-listed company that is involved in the real estate and insurance financial sectors. Financial Products Group bought the shares on October 25th. 

Financial Products Group said it acquired the shares as it is looking to develop products related to virtual currencies and payments. Furthermore, FGP said it may collaborate with Huobi Japan on projects related to the tokenization of the securities market. Real estate is one of the most popular asset classes to be tokenised as a way to free up liquidity.

Justin Sun Hints $100 Billion TRON Partnership Coming Next Week

TRON founder Justin Sun has hinted at an upcoming partnership with a $100 billion “megacorporation” to be announced next week. Sun, who teased the news in a tweet published Oct. 25, has a long history of making ‘pre-announcements.’

This time the TRON Foundation CEO has asked community members to attempt a guess at the potential partnership, calling it a megacorporation that will be capable of distributing Tron-based Dapps and tokens to “billions” of customers.

Users were quick to speculate that smartphone and mobile operator Samsung would fit the description. Samsung has generated an active presence in the industry of crypto and blockchain this year, with the launch of its Galaxy S10 smartphone including bitcoin wallet support.

State of the Crypto by Top Tier Exchange Volume

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