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Crypto Market Update (12 April 2018)

April 12, 2018

 

General Market Outlook

 

Bitcoin (BTC) jumped over $1,000 in one hour this morning, and total volume traded was around all time highs. As all coins are related to the movement of BTC price, this is a positive sign for the market overall.

 

EOS (EOS) and NEO (NEO) appear to be consolidating after the recent major upward movements.

 

STEEM (STEEM) – coin of the social media platform Steemit – is up over 25% Blockchain related platforms like this could see increased adoption because of the Facebook privacy concerns.

 

Major Headlines

 

Bitcoin Flash Bull Run! –

 

From 7am to 8AM (EST) Bitcoin moved from around $6,700 to just short of $7,800, and now sits at about $7,600. The increasing prevalence of traders using “longs” and “shorts” is likely at work in causing this type of spike. Regardless of the volatility, there is continued proof of growing interest in Bitcoin

 

Biggest ICO Scam in Vietnam –

 

Two ICOs Ifan and Pincoin account for nearly $660 million in stolen investment funds from roughly 32,000 individuals. This perfectly displays the problems when there are prohibitions on consumer activity by government. All cryptocurrency related activity is illegal in Vietnam, and because of this no regulations can be put in place to prevent such massive fraud.

 

https://tuoitrenews.vn/news/business/20180409/vietnamese-cryptocurrency-scam-allegedly-deceives-thousands-to-swindle-660mn/45001.html
 

Monero Support Coming to Ledger Wallets –

 

The safest way to store cryptocurrencies is with “cold storage” methods, meaning they are not connected to the Internet. This can be done with paper wallets, or with hardware wallets – encrypted memory devices. However, these devices are not coded to hold all cryptocurrencies. The Ledger Nano S is the most popular hardware wallet. Monero has consistently been in and out of the top 10 for coin market cap totals, yet has not been supported on the device.

 

https://twitter.com/fluffypony/status/979707596088242177

 

 

Top 5 Gainers

 

Bismuth (BIS)  +298.04% at $5.35

Mithril (MITH)  +159.86% at $0.562149

Vice Industry Token (VIT)  +76.64% at $0.031131

Bitcoin Private (BTCP)  +72.58% at $25.47

NeosCoin (NEOS)  +58.00% at $3.52

 

 

Top 5 Losers

 

Stellite (XTL)  -27.58% at $0.000939

Hexx (HXX)  -19.25% at $3.09

HollyWoodCoin (HWC)  -16.42% at $3.12

CFun (CFUN)  -13.88% at $0.006616

MaxCoin (MAX)  -11.59% at $0.113764

 

 

New Coins Listed

 

Red Pulse (RPX) added to HitBTC https://www.red-pulse.com/landing

 

Experience Points (XP) added to Cryptopia https://www.xpcoin.io/

 

 

 

By: BGN Editorial Staff

 

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