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Crypto Market Update (07 August 2018)

August 7, 2018

 

General Market Outlook

 

The market is now recovering from a significant downturn over the weekend. Nearly all coins are in the green, and trading volume has steadily risen $2 Billion to $13 Billion in 24 hours. Basic Attention Coin (BAT) and Pundi X (NPXS) are the major stand outs of the top 100 coins by market cap - up about 16% and 14% respectively in the past 24 hours. Bitcoin (BTC) is right around  $7,100 For +2% and a total market dominance of about 47.7%, and Ethereum (ETH) is right at $410 for +1% change in the past 24 hours. Market cap for the overall cryptocurrency market has made a smooth $4 billion reversal to $257 billion total.

 

 

Major Headlines

 

McDonald’s Makes Play On Bacoin and Global Currency

 

Back in April, Oscar Mayer launched a marketing campaign around a mock cryptocurrency called Bacoin that was redeemable for bacon. A website tracked the value of the coin, in bacon, and included humorous videos reminiscent of new-age, silicon valley tech conferences. McDonald’s is now releasing coins in honor of the Big Mac’s 50th birthday. They coins are always redeemable for one Big Mac - a kind of food stablecoin. The celebration also plays on the existence of the Big Mac Index, where economists use its price as a market indicator, similar to the world food price index.

 

AI Could Even Education Playing Field

 

A new tech company is developing AI systems to provide real-time, personalized feedback to low-income and underprivileged students on their test taking and college application process. The organization, Õpet, will also be the basis for a donation platform, where anyone around the world can help fund a students path through university via the Õpet token. The token allows the foundation to seamlessly move donations to the needs of the student, and creates the most definite method of tracking data on activity on their platform. They are working with University of Cambridge Judge Business School’s Psychometric Center’s Profiling tool to build out the application process. The final product will debut in Asia through the American University of Central Asia, which is supported by George Soros’ Open Freedom Society.

 

200,000 Brazilians Affected By Malicious Mining

 

MikroTik routers where compromised through Brazil recently, causing network speeds to drop, while cryptocurrency mining profits fed the individual or group that spread the malware. Coinhive was silently integrated into the code of popular MikroTik routers, which is used to mine Monero (XMR). This coin choice was likely made for anonymous quality of XMR. It is the only fully anonymous coin, and has a strong, well established network with substantial liquidity on exchanges. In April, the company became aware of vulnerability in code on the devices, and provided a patch, but many users choose not to update, forget, or simply don’t realize the importance of maintaining updates.

 

 

Top 5 Gainers

 

Qvolta (QVT) +125.91% at $0.040024

U.CASH (UCASH) +104.64% at $0.005640

Shivom (OMX) +88.01% at $0.014017

OST (OST) +57.99% at $0.070009

All Sports (SOC) +42.20% at $0.025622

 

 

Top 5 Losers

 

Record (RCD) -54.20% at $0.000150

BrokerNekoNetwork (BNN) -45.09% at $0.000071

Sakura Bloom (SKB) -35.33% at $0.003232

LIFE (LIFE) -% at $30.69% at $0.000071

VeThor Token (VTHO) -% at $29.74% at $0.016617

 

 

New Coins Listed

 

Ethereum Classic (ETC) listed to Robinhood

Ethereum Classic (ETC) listed to Coinbase

KickCoin (KICK) listed to Coinbene

 

 

 

By: BGN Editorial Staff

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