Market Update 6.25.18 – EOS Leading China’s Crypto Rankings
Market News
EOS Leading China’s Crypto Rankings
According to Cena News, the Chinese government’s second round of monthly crypto and Blockchain project ratings – the Global Public Chain Technology Evaluation Index – were released on June 20 at the Shanghai Science Hall. According to these rankings, EOS is the number 1 cryptocurrency, followed by Ether at number two. Of the 30 cryptocurrencies analyzed by the Index, Bitcoin was ranked at a dismal 17th place.
This new Index is being published by the Industry and Information Technology Ministry’s China Center for Information Industry Development (CCID). According to the organization’s original press release, all the rankings are based on assessments from the best experts and scholars in the country.
Find out more here.
Ebang Communication Seeking to go Public
One of the largest Bitcoin mining chip manufacturers in China, Ebang Communications, wants to go public and is planning to list itself on the Hong Kong Stock Exchange (HKEX). The company filed an application of an IPO (Initial Public Offering) on Monday, however the application is still just a draft, so the valuation of the company is still unknown.
This application confirms a report released by Reuters in May, which had stated that the company had been in talks with advisors about going public. According to that news report, Ebang was looking at raising $1 billion from this IPO.
Read more here.
Quebec Planning to Sell Electricity to Miners
The public power utility of Quebec, Hydro-Quebec has submitted a proposal to the provincial government to create a framework which would allow it to sell about 500 megawatts of electricity to cryptocurrency miners. If this proposal is approved, then miners would be able to bid for electricity, which the utility could then approve, based on what kinds of benefits could the companies offer the province, such as jobs creation and improving the economy of the area.
This proposal also puts a cap on how much electricity crypto mining companies can use in a year, so that the power supply for regular customers is not impacted. Hydro-Quebec also said that it was looking a speedy response to this proposal due to the unprecedented demand.
Read the rest of the story here.
Total Market Cap: June 25
Trading volume so far today has been at $15.09 billion. The capitalization of the cryptocurrency market is at $251.42 billion.
Bitcoin Price Analysis: June 25
In the last 24 hours, the price of Bitcoin jumped up 4.67% to $6170.02. Trading volume in BTC is $4.1 billion and BTC’s market capitalization was at $105.59 billion.
Ethereum Price Analysis: June 25
Ethereum’s price went up by 1.28% to $451.54 since yesterday. ETH’s volume of trade is currently $2.28 billion and its market value is $45.23 billion.
State of the Top 10 Cryptocurrencies: June 25
After this weekend’s disastrous price drops, all the top ten currencies showed signs of recovery. All the top ten cryptos have gained in price as well as market capitalization since yesterday. BTC is up by 4.67% and has risen above the $6k mark. Ether made slower gains with only a 1.28% rise in token price. The biggest gains were seen by BCH and EOS, which gained 8.66% and 8.04% respectively.
- Bitcoin gained 4.67% to $6170.02. The asset’s market value is $105.59 billion.
- Ethereum gained 1.28% to $451.54. The asset’s market value is $45.23 billion.
- Ripple gained 4.46% to $0.478009. The asset’s market value is $18.76 billion.
- Bitcoin Cash gained 8.66% to $749.30. The asset’s market value is $12.88 billion.
- EOS gained 8.04% to $7.92. The asset’s market value is $7.09 billion.
- Litecoin gained 4.66% to $80.51. The asset’s market value is $4.6 billion.
- Stellar gained 3.76% to $0.190199. The asset’s market value is $3.57 billion.
- Cardano gained 3.58% to $0.130185. The asset’s market value is $3.37 billion.
- TRON gained 3.48% to $0.041767. The asset’s market value is $2.75 billion.
- IOTA gained 3.61% to $0.984664. The asset’s market value is $2.72 billion.