Market Update 4.21.19 – Coinnest Confirms Closure

| Publish date: 04/21/2019

Market News

Coinnest Confirms Closure

The South Korean crypto exchange Coinnest is reportedly closing down. It is worth noting that the company is deemed to be the third largest in the country. The exchange posted the announcement on its official website, confirming all news that it is no longer in operation.

The exchange also advised its users to start withdrawing funds, all of which will be held on the platform until April 30. Interestingly, the company has decided to lower all fees relating to withdrawals and the minimum threshold in an attempt to expedite the overall process.

Apparently, though, Coinnest did not provide any substantial reason as to why it is shutting down. According to experts, it could have been due to the “a natural result” of the decline in terms of trading volume.

Read the full report here.

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Mithril Looking To Migrate To Binance Chain

By essence, Mithril is unlike any social media sites, especially since it is a decentralized platform. Interestingly, it has reportedly embraced the Binance Chain, which is the mainnet of the world’s leading crypto exchange called Binance. The announcement was made official by the social media in a blog post.

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With the development, Mithril will soon become the purported first to shift to the aforementioned platform. This also means that the MITH native coin will migrate from the previous ERC-20 all the way to the BEP2. The social media platform is known for providing and/or rewarding content creators with the said token. At Mithril, users can have the ability to gain the token via the sophisticated Mithril mining. At the same time, they can easily manage all of their assets on the firm’s very own VAULT platform

Read the full report here.

Poloniex Adds USDT Support

Poloniex, which is a major crypto exchange, will reportedly support the stablecoin USDT of Tether on the Tron blockchain. The support is specifically designed for all deposits and withdrawals of USDT on the said network. The development, in particular, is believed to provide direct support on Tether on both chains.

Poloniex revealed in the announcement that the decision to do so is due to the expanded flexibility it wants to offer to the USDT platform. And for the support to become available on both versions, the crypto exchange will start converting a certain percentage of Tether.

Read the full report here.

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Total Market Cap: April 21

The trade volume in the past 24 hours revealed to be $40.32 billion. Meanwhile, the market capitalization showed to be at $179.74 billion.

Bitcoin Price Analysis: April 21

Bitcoin is still the world’s leading cryptocurrency despite falling at 0.15% and showing a price of $5,337.93. As for its trade volume and market capitalization, it ended the 24-hour cycle with $12.50 billion and $92.25 billion, respectively.

Ethereum Price Analysis: April 17

Ethereum continues to be a dominant force in the crypto space. But pretty much like BTC, it also fell at about 1.95% to reach a price of $172.09. The altcoin’s trade volume reached $5.80 billion, while its market cap reportedly grabbed $18.20 billion.

State of the Top 10 Cryptocurrencies: April 21

Tether is the only digital currency in the list to experience a jump. As for the 10th spot, TRON fell from the hands of Cardano.

  • Bitcoin’s market price fell 0.15% to $5,337.93, with a market value of $25 billion.
  • Ethereum’s market price fell 1.95% to $172.09, and the market value is $18.20 billion.
  • XRP’s market price fell 2.00% to $325660. The crypto’s market value is set at $13.67 billion.
  • Bitcoin Cash fell in terms of market price at 3.08% to $296.92 in price, and as far as its market value is concerned, it is $5.27 billion.
  • Litecoin’s market price fell 2.27% to $80.47, and market value topped $4.94 billion.
  • EOS’s market price fell at 2.36% to $5.38, and the confirmed value in the market is $4.87 billion.
  • Binance Coin’s price in the market jumped 6.66% to $23.47, and its value in the market is $3.31 billion.
  • Tether jumped 0.12% to $1.01 in terms of market price, and market value is said to at $2.59 billion.
  • Stellar’s market price fell 1.90% to $114557, and its value in the market is $2.22billion.
  • Cardano obtained 10th spot and removed TRON despite falling 5.14%. This resulted to a trade price of $074844 and a market value of $1.94 billion.

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