Bitcoin Falls Below $7,000
According to Coinmarketcap, the price of Bitcoin has fallen today to $6795,30 (-6,38% over the last 24 hours). Ethereum and Ripple have followed, falling to $534,60 (-6,11%) and $0,58 (-6,69%), respectively. In early May, cryptocurrency market capitalization exceeded $460 billion for the first time since March. However, today it has fallen to $297,5 billion.
EOS Launches Blockchain
The EOS blockchain has been launched this weekend as block producers located all around the world finally voted “Go” in a livestream broadcasted on Youtube by EOS Go. The official "launch sequence" process has now been initiated and has entered its final stage - the community vote. EOS Mainnet is set to become valid and fully operational once at least 15% of all EOS tokens are staked and used to vote. Also through this method, the token holders will allocate the block producers that will become part of the new system. At first, 21 block producers will have to be chosen. The voted in block producers will replace the allocated once and at that point the chain will go live. Developers add that once the chain is activated the community members can untie their EOS balances and send transactions to the new eosio blockchain. According to EOS Mainnet Launch Group (EMLG), this is a community process and therefore it "could take hours or days”.
Blockchain Power for LGBT Token
An idea of a “LGBT Token” which would have the potential to “unlock the global spending power of the lucrative sector” is currently being developed by the LGBT Foundation alongside OST technology. The token is planned to become a payment method but could also act as a decentralized platform for LGBT community to protect their identities. Token owners would also be able to use services designed for the preferences of LGBT community as well as allocating funds on charitable LGBT causes.
Coinrail Hack Investigated by Police
South Korean police launch an investigation into the hacking of Coinrail. That happened after 7th largest cryptocurrency exchange in South Korea and 99th worldwide has reported losing more than $37 million worth altcoins on Sunday. The exchange platform has said on its webpage that around 70% of investors Tokens remain safe and have been moved over to a cold wallet which is not accessible through the internet for safety reasons. Coinrail isn’t disclosing the full list of stolen tokens, only confirming that Pundi X Token (NPXS), Aston Token (ATC), and NPER Token (NPER) were affected.
Canada Drafts Crypto Regulations
The Canadian government has published an official draft of new regulations that affect cryptocurrency exchanges and payment platforms. According to the draft, all platforms that work with digital currencies will be treated as money service businesses, so they will be required to report transactions of more than 10,000 Canadian dollars (7,700 USD). In addition, the document also proposes a tightening of the KYC (Know Your Customer) rules.
BitPanda Adds IOTA and Komodo
BitPanda is set to add IOTA (MIOTA) and Komodo (KMD) cryptocurrencies to its exchange platform. Komodo will be introduced on June 12 with IOTA coming a few days later, on June 14. Both currencies will be added as ‘trade only’ (buy and sell) options at first but BitPanda says it’s working with teams behind both IOTA and Komodo to introduce fully operational wallets to their platform later in the year. “..we are not only launching Komodo and IOTA, but are ready to speed things further up and offer our users new cryptocurrencies on a regular basis.”- said BitPanda’s co-founder Eric Demuth
At 13.30 (GMT+1) total cryptocurrency market capitalization stands at $297,5 billion
Bitcoin (Bitcoin) $6795 (-6,38%)
Ethereum (ETH/USD) $534 -6,11%)
Ripple (XRP/USD) $0,58 (-6,69%)
Bitcoin Cash (Bitcoin.Cash) $938 (-8,94%)
EOS (EOS/USD) $11 (-15,71%)
Veritaseum (+4,85%) showed the best growth in the top-100
The trading volume of cryptocurrencies for 24 hours reached to $19,8 billion (+4,2 billion)
Bitcoin: $ 3,5 for 10 TH/s
Ethereum: $ 0,4 for 10 MH/s
BitcoinCash: $ 0,35 for TH/s
Litecoin: $ 4,65 for GH/s
Dash: $ 0,14 for GH/s
Click here for the full list of ongoing ICOs.
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By Nadya Astam