Market Update 7.08.18 – Crypto Markets Acquiring Weekly Gains

| Publish date: 07/08/2018

Market News

Crypto Markets Acquiring Weekly Gains

There has been a little action on the crypto markets lately, with most digital currencies either up or down by small percentages over the past 24 hours. In fact, it is a little under $1 billion in terms of market capitalization. For starters, Bitcoin is hovering at about $6.635 as of press time. Although it seems to experience an up and down scale, the leading digital asset still managed to keep up with this week’s gains.

Bitcoin’s weekly gains, amidst the little action, are up by 4 percent. Ethereum, on the other hand, is standing its ground at $467. It is under 1 percent in the past 24 hours and around 5.5 percent over the last seven days. As for the total market cap of all cryptocurrencies, it is reportedly around $266 billion.

Read the full report here.

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Arbitrage Released By Crypto Trading Platform For Beginners

Arbitao was launched in November 2017. Since then, the London-based startup has introduced a platform specifically designed for arbitrage trading. The latter is a term that comes from professional trading, but it simply refers to the act of buying and selling the same asset. And from there, it makes profits at differing prices.

According to the company’s representatives, the platform is totally working and is even ready for launching. It is worth noting that initial coin offering or ICO projects do not necessarily have a working product – and probably will not have in the future. With Arbitao, however, it is totally different. The company is poised to deliver a product that is both working and tested before releasing it on the market.

Check out the full story here:

Xunlei Launches Its Own Blockchain File System

Xunlei Limited, a Chinese technology company, is known as China’s very own BitTorrent. Now, it has launched its own distributed system, which is designed to support blockchain platforms. Called the ThunderChain File System (TCFS), the system will support any blockchain development along three ThunderChain Request For Comments (TRC).

According to the company, it will combine features of all existing platforms, with filecoin and IPFS being an epitome. In addition, there will be new flexibility and security tools included. The news came out during a ceremony held at Shenzlen, China. Particularly, it was made after the company revealed the winners of an international blockchain application competition which it sponsored.

Read the full report here.

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Total Market Cap: July 8

The volume of trade in the crypto market sat at $12.52 billion. The market’s capitalization, on the other hand, reached $277.57 billion.

Bitcoin Price Analysis: July 8

In the past 24 hours, Bitcoin jumped 2.58% to trade at $6,823.21. The leading cryptocurrency’s trade volume trickled to $4.01 billion, while its market slid to $116.93 billion.

Ethereum Price Analysis: July 8

Ethereum’s price jumped 4.32% to trade at $492.76. As for the altcoin’s trading volume, it reached $1.42 billion; whereas its market capitalization hit $49.55 billion.

State of the Top 10 Cryptocurrencies: July 8

In the past 24 hours, all prices are up. Tether dethrones NEO at the 10th spot.

  • Bitcoin’s market price jumped 2.52% to $6,819.19, and its value in the market is $116.86 billion.
  • Ethereum’s market price jumped 4.31% to $492.61, and its value in the market is $49.53 billion.
  • XRP’s market price jumped 3.32% to $0.490834, and its value in the market is $19.27 billion.

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