Market Update 8.05.18 – Ethereum Gets First Top-Level Domain Name

| Publish date: 08/05/2018

Market News

Ethereum Gets First Top-Level Domain Name

A new partnership will allow Ethereum users to have the ability to attach addresses directly to a top-level internet domain name. With such capability, it will be a lot easier for them to remember identifiers associated with their own assets, services, and wallets, among many others. This is called The Ethereum Name Service or simply ENS, and is designed to allow users to replace long addresses with “human readable names” attached to a .eth domain.

This is thanks to the partnership with Minds + Machines Group (MMX), which is a company that owns and operates “top-level domains” within the internet’s Domain Name System (DNS). The collaboration, which was announced recently, would allow Ethereum users to register their own addresses with MMX’s upcoming .luxe domain. The latter basically stands for “lets u xchange easily,” which offers a user-friendly way to access the blockchain’s assets and services, with both dapps and smart contracts being the popular ones.

Read the full report here.

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CoinMarketCap’s Data Glitch Allowed Crypto Price Numbers To Soar

Apparently, the titular CoinMarketCap site experienced a data glitch, causing significant artificial inflation of some coins listed. There are even prices believed to have inflated by nearly 1,000 percent. If Bitcoin saw a price spike of about 12 percent, other digital currencies experienced a more drastic increase. The price of the eight most valuable cryptocurrency Aeternity, for instance, received an increase of more than 951 percent.

MOAC, on the other hand, inflated around 905 percent. The data glitch did not just boost the numbers, though. That is because the issue also caused some of the platform’s exchange tracker feature to work improperly. As a result, it falsely indicated that BTC was trading more than $73,000 on some exchanges.

Read the entire story here.

New Crypto Plugin Released By Coinbase For Popular E-Commerce Platform

Coinbase, a U.S.-based cryptocurrency exchange platform, reportedly unveiled a brand new service designed to improve access to cryptocurrency payment options meant for e-commerce businesses. This was announced via a blog post, stating that the startup just launched a plugin for popular e-commerce platform called WooCommerce.

WooCommerce basically provides the payment systems for more than 28 percent of all web stores. The only catch, however, is that the BuiltWith currently estimates the figure at 21 percent only, which is simply a bit lower. Nevertheless, the addition of the aforementioned plugin, which can be obtained via GitHub, should make digital currency payments a good chunk of the web’s e-commerce sites.

Read the full report here.

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Total Market Cap: Aug 5

The volume of trade in the crypto market sat at $12.38 billion. The market’s capitalization, on the other hand, reached $254.03 billion.

Bitcoin Price Analysis: Aug 5

In the past 24 hours, Bitcoin fell 6.07% to trade at $7,008.13. The leading cryptocurrency’s trade volume trickled to $4.39 billion, while its market slid to $120.48 billion.

Ethereum Price Analysis: Aug 5

Ethereum’s price fell 2.48% to trade at $407.22. As for the altcoin’s trading volume, it reached $1.53 billion; whereas its market capitalization hit $41.18 billion.

State of the Top 10 Cryptocurrencies: July 22

In the past 24 hours, all prices were down except for IOTA. Meanwhile, Thether dethroned TRON at the 10th spot.

  • Bitcoin’s market price fell 6.07% to $7,008.13, and its value in the market is $120.43 billion.
  • Ethereum’s market price fell 2.48%% to $407.22, and its value in the market is $41.18 billion.
  • XRP’s market price fell 2.12% to $0.431043, and its value in the market is $16.94 billion.
  • Bitcoin Cash’s market price fell 4.27% to $696.79, and its value in the market is $12.02 billion.
  • EOS’ market price fell 2.36% to $7.03, and its value in the market is $6.37 billion.
  • Stellar’s market price fell 6.80% to $0.240700, and its value in the market is $4.52 billion.
  • Litecoin’s market price fell 5.19% to $73.28, and its value in the market is $4.23 billion.
  • Cardano’s market price fell 3.13% to $0.128503, and its value in the market is $3.33 billion.
  • IOTA’s market price jumped 3.61% to $0.951500, and its value in the market is $2.64 billion.
  • Tether dethrones TRON at the 10th spot, but its market price felling 0.07 % to $0.998252, and its value in the market is $2.43 billion.

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