Market Update 11.14.18 – Asian Traders Buying BCH despite Upcoming Fork
Market News
Asian Traders Buying BCH despite Upcoming Fork
Despite the fact that Bitcoin Cash has a scheduled hard fork on November 15 – tomorrow – Asian traders are buying up the cryptocurrency. Their logic is that even though it is almost certain that this hard fork is going to result in two new cryptos being created, the original one is going to be more valuable than the two new ones.
More specifically, these traders are hoping that when the hard fork occurs and two new cryptocurrencies are created, they will end up getting two coins whose combined value will be more than the current price.
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Xerox Wins Patent for New Blockchain System
The USPTO (US Patent and Trademark Office) awarded a patent for a Blockchain based audit system to Xerox. Xerox had first filed for this patent in August last year. This patent outlines a Blockchain driven system which securely record all revisions made to electronic documents.
According to this patent Xerox won, the user will be able to detect if a file has been changed in any way and it also tracks all changes made and maintains a history of those changes. And because of the decentralized verification system, this Blockchain based system is tamper resistant.
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Twitter Account Compromised to Promote BTC Scam
Google G Suite’s official Twitter account was hacked into to promote a Bitcoin scam. According to media reports, the G Suite account was used to advertise a Bitcoin giveaway scam. The account has more than 800,000 followers.
Scammers used the G Suite Twitter account to announce a 10,000 BTC giveaway. In the same announcement, scammers stated that G Suite was now accepting cryptocurrency as a method of payment.
The message was removed less than 10 minutes after it was posted. Google did not respond to requests for a comment about this hack into their G Suite Twitter account.
Find out more about this story here.
Total Market Cap: Nov 14
The crypto market is down $1.66 billion since yesterday, with a current value of $209.80 billion. The market’s trading volumes are also down by $0.47 billion to $12.83 million.
Bitcoin Price Analysis: Nov 14
From yesterday, Bitcoin has inched up 0.05% to trade at $6365.73. Bitcoin’s market capitalization is $110.60 billion with volumes of trade at $4.31 billion.
Ethereum Price Analysis: Nov 14
Ethereum’s price is now $206.60, falling by 0.80% since yesterday. The crypto’s market value is now $21.31 billion and its trading volumes are at $1.57 billion.
State of the Top 10 Cryptocurrencies: Nov 14
With the exception of Bitcoin, which showed a tiny upward movement of 0.05%, the top ten cryptocurrencies all slipped in their prices. The biggest loss was felt by Stellar, which has dropped by 3.99% in trading today. EOS is the second big loser in today’s trading, down by 2.26%, and Ripple is the third largest loser, dropping by 1.73% for the day so far.
- Bitcoin’s price is $6365.73, rising 0.05%. The market worth of the token is $110.60 billion.
- Ethereum’s price is $206.60, losing 0.80%. The market worth of the token is $21.31 billion.
- Ripple’s price is $0.509155, losing 1.73%. The market worth of the token is $20.47 billion.
- Bitcoin Cash’s price is $514.83, rising 1.30%. The market worth of the token is $8.98 billion.
- Stellar’s price is $0.254641, losing 3.99%. The market worth of the token is $4.82 billion.
- EOS’s price is $5.22, losing 2.26%. The market worth of the token is $4.73 billion.
- Litecoin’s price is $50.08, losing 0.94%. The market worth of the token is $2.96 billion.
- Cardano’s price is $0.072886, losing 3.07%. The market worth of the token is $1.88 billion.
- Monero’s price is $104.72, losing 0.97%. The market worth of the token is $1.73 billion.
- Tether’s price is $0.983720, losing 0.34%. The market worth of the token is $1.67 billion.