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Crypto Market Update (08 October 2018)

October 8, 2018


General Market Outlook


The market is in an overall positive trend with most coins showing strong gains, and trading volume has wavered near $12 billion in 24 hours. Maker (MKR) and Noah Coin (NOAH) are the major stand outs of the top 100 coins by market cap - up over 22% and 16% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,650 for +1.0% and a total market dominance of about 52.1%, and Ethereum (ETH) is right around $230 for 2.5% change in the past 24 hours. Market cap for the overall cryptocurrency market steadily gained just over $4 billion, now totaling almost $220 billion.



Major Headlines


Binance Will Donate All Listing Fees to Charity


The CEO of Binance announced that the company will be redesigning how coins are listed to their exchange platform. Previously, listings cost upwards of $1 million. However, now the platform will be donating all listing fees to charity. In addition, there will be no minimum fee, and  developers are given the power to name the amount they would like to pay. The value chosen will not influence whether or not a coin is accepted, and this will have no effect on which coins are given the opportunity to be listed on the exchange: “Binance will continue to use the same high standard for the listing review process.”


Quixxi Simplifies Crypto-Commerce


Quixxi is in their second week of token sale, and hopes to make a big impact on cryptocurrency use cases by streamlining the existing technology in ways that will make it more appealing for the average citizen. The platform gives users the ability to hold or send cryptocurrency by using an email address, and security is maintained by decentralizing users’ private keys. It connects Ethereum wallet addresses and is designed to “bypass the complex nature of crypto wallets.” The system includes a “Smart Payment” function that they hope will allow merchants to more easily accept cryptocurrency payments for the goods or services. Their primary goal is “to remove some of the barriers faced by global Crypto-Commerce.”


Jailed For Energy Theft To Mine Bitcoin


A citizen in China was caught stealing power from a train station. The electricity was used to power his large Bitcoin mining operation. Though it was not as large as some commercial operations, the individual was working with 50 ASIC miners, which consume roughly $250 worth of electricity per day. The investigation uncovered that he successfully mined 3.2 Bitcoin with the stolen electricity, which is about $14,500. He has been sentenced to 3.5 years in jail and a given a monetary fine of 100,000 yuan, which is roughly $14,500. All of the mining equipment was confiscated as well.



Top 5 Gainers


Octoin Coin (OCC) +124.91% at $0.705390

Experience Points (XP) +87.13% at $0.000032

Joint Ventures (JOINT) +84.39% at $0.006441

GazeCoin (GZE) +60.16% at $0.015635

Moeda Loyalty Points (MDA) +55.14% at $0.737479



Top 5 Losers


Yocoin (YOC) -47.32% at $0.008144

WIZBL (WBL) -38.72% at $0.039803

HOQU (HQX) -22.30% at $0.007297

Labh Coin (LABH) -21.60% at $0.003429

Minex (MINEX) -20.39% at $0.005227



New Coins Listed


Pylon Network (PYLNT) listed to LAToken

Stellar (XLM) listed to Altcoin Trader

Mass Vehicle Ledger (MVL) listed to BitSonic




By: BGN Editorial Staff

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