Market Update 6.02.18 – Bitmain’s AntMiner B3 Drawing Criticism
Market News
Bitmain’s AntMiner B3 Drawing Criticism
The cryptocurrency mining hardware AntMiner B3 made by Bitmain is drawing a lot of criticism, as is the company itself. This new product is aimed at mining Bytom’s token, BTM. In fact, the AntMiner B3 was launched on April 25, just one day after Bytom launched its own Blockchain network. The unit was priced at 17,000 Chinese Yuan (~$2,600) and was sold out within seconds of its launch.
However, users of the AntMiner B3 are now complaining that Bitmain significantly exaggerated the hardware’s capability, stating it does not deliver the promised 750 hashes per second. According to initial test miners, the product can only deliver 500 to 600 hashes per second, because of which projected mining capability of 47 BTM per day went down to single digits.
Find out more here.
Netherlands’ Land Registry Testing Blockchain Tech
The Netherlands’ Land Registry is going to test Blockchain tech on national real estate data. According to an enterprise architect with the country’s Land Registry, Keon Huisstede, the organization is exploring how this new technology can be used within the property sphere.
The Land Registry in the Netherlands is responsible for managing ownership, mortgage rights as well as all third-party data that is related to the real estate industry in the country. The organization is now looking to see how Blockchain tech can make it more flexible and agile.
Read more here.
FSA Checks AML Compliance in Crypto Exchanges
The Financial Services Agency (FSA), the Japanese financial regulator, has issued improvement orders to several domestic cryptocurrency exchanges. One of the biggest concerns that the agency has with these exchanges is their compliance with AML (Anti-Money Laundering) regulations. When the agency checked compliance standards at these cryptocurrency exchanges, the FSA found that they were falling short of applying required Know-Your-Customer (KYC) checks. KYC checks are critical to the security of an exchange as it confirms a user’s identity and also prevents “bad actors” from trading on its platform. Another issue that the FSA raised was that several exchanges are not separating their customers’ assets clearly enough from their own.
The FSA issued these new orders to 12 entities. 2 of them are licensed crypto exchanges, while the other 10 are quasi-exchanges, meaning their applications for licenses are still pending with the FSA.
Find out more about the story here.
Total Market Cap: June 02
Global volume in cryptocurrency trading has been at $15.31 billion, with the market’s value at $340.33 billion since yesterday.
Bitcoin Price Analysis: June 02
Bitcoin gained 1.15% to trade at $7665.43 since yesterday. The volume of trading in BTC is $4.89 billion and the crypto’s market cap is $130.57 billion.
Ethereum Price Analysis: June 02
Ethereum gained 0.98% to $589.39 in the past 24 hours. Trading volume is $1.84 billion and market value for ETH is $58.80 billion.
State of the Top 10 Cryptocurrencies: June 02
After slight choppiness in trading a few hours ago, all top ten cryptocurrencies have shown gains. The biggest jump in the last 24 hours has been made by EOS, which gained 4.97%.
- Bitcoin gained 1.15% to $7665.43 and its value in the market is $130.57 billion.
- Ethereum gained 0.98% to $589.39 and its value in the market is $58.80 billion.
- Ripple gained 3.30% to $0.639084 and its value in the market is $25.07 billion.
- Bitcoin Cash gained 2.54% to $1028.05 and its value in the market is $17.64 billion.
- EOS gained 4.97% to $12.86 and its value in the market is $11.52 billion.
- Litecoin gained 2.59% to $122.73 and its value in the market is $6.97 billion.
- Cardano gained 0.19% to $0.227181 and its value in the market is $5.89 billion.
- Stellar gained 0.15% to $0.296436 and its value in the market is $5.50 billion.
- IOTA gained 2.65% to $1.93 and its value in the market is $5.36 billion.
- TRON gained 1.16% to $0.060383 and its value in the market is $3.97 billion.