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Crypto Market Update (05 February 2019)

February 5, 2019

 

General Market Outlook

 

The market primarily made sideways movement over the past 24 hours. Coins are split between positive and negative gains, with trading volume wavering right around where it was yesterday, between $16 billion and $17 billion in 24 hours. Bitcoiin (B2G) and Metaverse ETP (ETP) are the major stand outs of the top 100 coins by market cap - up over 118% and 16% respectively in the past 24 hours. The value of Bitcoin (BTC) is still trending around $3,450 for no significant change and a total market dominance of about 53.5%, and the value of Ethereum (ETH) is also trending right about where it was yesterday, just below $110 for no significant change in the past 24 hours. Market cap for the overall cryptocurrency market made no significant change, still just over $113 billion total.

 

 

Major Headlines

 

Birfury To Use Hydropower In Paraguay

 

Over the past several months Bitfury has begun pushing the diversity of their business to get the most out of their expertise in cryptocurrency mining. The company is partnering with a South Korean R&D firm called Commons Foundation to build a cryptocurrency mining network and facility it Paraguay. The companies chose the company because of the availability of hydroelectric power from two power plants in Itaipu and Yacyreta. The two plants are currently running at only 50% of their total capacity. These sources are drastically cheaper and better for the environment than traditional power. The mining facilities will use Bitfury’s BlockBox AC bitcoin mining devices.Paraguay currently only utilizes roughly half of the electricity produced by the two plants, according to Bitfury. Down the road, Commons Foundation plans to launch a cryptocurrency exchange in Paraguay which will integrate Bitfury’s compliance analytics platform called Crystal.

 

Medici Ventures Looks To Mexico’s Land Registry

 

The subsidiary of Overstock.com, Medici Ventures again expands their funding in both location and application. One of the most probably industries to integrate blockchain networks is real estate. The systems are able to automate and improve many of the most primary aspects of recording and transacting the necessary information of land registration. The company has signed a memorandum of understanding with a local government in Mexico to create a blockchain land records system. The government of Tulum will allow officials there to collect data about land ownership and issue certificates of title to land in an effort to record such transactions automatically. “Mexico’s adoption of advanced technology in their land registry will increase opportunities for individuals to strengthen their connections to the global economy through rightful ownership of land,” Ali El Husseini, Medici Land Governance CEO

 

U.S. Swim Swapper Caught

 

A series of identity and cryptocurrency thefts have been traced back to one individual. The 20 year old male used a form of sim card swapping to gain control of users mobile devices. He is now being charged in the Manhattan District Attorney’s Office announced. Dawson Bakies, a resident of Ohio is accused of stealing from 50 victims across the U.S. from October to December last year. via SIM-swapping attacks. The indictment lists 52 counts of “identity theft, grand larceny, computer tampering, and scheme to defraud” among other charges, according to the announcement. Of the 50 security breaches he was able to to access 18 online accounts belonging to three Manhattan-based victims. He stole about $10,000 in cryptocurrency. Further, he even attempted to extort one of the victims by demanding a Bitcoin ransom.

 

 

Top 5 Gainers

 

Vexanium (VEX) +555.33% at $0.021607

ERC20 (ERC20) +177.42% at $0.135404

Bitcoiin (B2G) +122.87% at $0.638376

Twinkle (TKT) +57.48% at $0.002702

PARETO Rewards (PARETO) +42.93% at $0.001101

 

 

Top 5 Losers

 

Soma (SCT) -42.77% at $0.019771

Spendcoin (SPND) -40.50% at $0.421543

WETH (WETH) -38.71% at $66.78

AirWire (WIRE) -34.19% at $0.003849

SnapCoin (SNPC) -32.99% at $0.022049

 

 

New Coins Listed

 

PIVX (PIVX) listed to TxBit.io

 

 

 

By: BGN Editorial Staff

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