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Crypto Market Update (08 January 2019)

January 8, 2019


General Market Outlook


The market made a small dip before beginning a steady uptrend with most coins seeing small positive gains, and several with large double digit growth. Trading volume followed a similar path, but still remains lower than yesterday, trending between $16 billion and $17 billion in 24 hours. Repo (REPO) and Dex (DEX) are the major stand outs of the top 100 coins by market cap - up over 61% and 30% respectively in the past 24 hours. The value of Bitcoin (BTC) is roughly $4,000 for +0.5% and a total market dominance of 51.8%, and the value of Ethereum (ETH) is just short of $150 for -1.5?% change in the past 24 hours. Market cap for the overall cryptocurrency market gained almost $2 billion, rising to $138 billion total.



Major Headlines


Coinbase Suspends ETC Trading


The Ethereum Classic blockchain has endured a hack. Detail are uncertain as to how or who was responsible, but the network’s ledger had more than 100 blocks altered. The result was nearly 100,000 ETC tokens being “double spent.” This means that because of inaccuracies in the blockchain, users were able to spend ETC that had already been transacted by someone else. Because of this, Coinbase has suspended ETC trading. The exchange itself reported that they had detected an abnormal hash rate in an ETC mining pool. This means that there was a great deal of increased miners, yet the price of ETC was not rising, so it was unlikely that the increased attention was to mine appropriately, but instead to hack the network. The official ethereum classic Twitter: “We are now working with Slow Mist and many others in the crypto community. We recommend exchanges and pool significantly increase confirmation times.”


Google Forces Samourai Wallet Changes


Samourai Wallet has become popular for supporting a “bitcoin-centric” approach to cryptocurrency wallet services. The wallet does not provide a huge feature set, but instead focuses on enhancing the use of BTC itself. This includes anonymity features, which have been a point of contentment for the general public use of Bitcoin. There is constant confusion of what whether it is anonymous or not, and services such as Samourai allow the processes to create anonymous transactions. However, because of this, the Google Play store blocked the app from being used. In response, Samourai has changed their service policies to maintain their position on the website, and applied for an exemption with Google: “Again, we are sorry for this inconvenience, but our hands have been tied by Google. We hope to bring these features back somehow in the future in the Google Play Store release, and are dedicated to offering the full feature set experience via alternative distribution methods such as direct download and F-Droid in the coming months.”


Upcoming China Miner Producer IPO


The second largest cryptocurrency mining chip company is reportedly filing for an IPA in the United States. The company is based out of China and has been working on a fundraising campaign in the country since March of 2018. They hope to raise as much as $1 billion dollars. The outlook is uncertain though. In 2018 both Bitmain and Ebang’s IPO filings were rejected.



Top 5 Gainers


Gold Poker (GPKR) +122.27% at $0.125849

WXCOINS (WXC) +62.68% at $2.12

Cashberry Coin (CBC) +52.73% at $0.093043

EvenCoin (EVN) +38.74% at $0.413044

Dex (DEX) +30.49% at $0.192142



Top 5 Losers


WhaleCoin (WHL) -78.06% at $0.000837

Super Bitcoin (SBTC) -36.00% at $1.70

PlayCoin ERC20 (PLY) -35.48% at $0.024261

PlayCoin QRC20 (PLY) -35.38% at $0.024311

WITChain (WIT) -34.98% at $0.000042



New Coins Listed


Birake (BIR) listed to HotBit

Vexanium (VEX) listed to Digifinex




By: BGN Editorial Staff

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