Market Update 10.02.18 – German ICO Investors Suffer 90% Losses
Market News
German ICO Investors Suffer 90% Losses
Investors in German ICOs (Initial Coin Offerings) have suffered as much as 90% losses of their capital. WirtschaftsWoche, a German business magazine, did a comparison of ICO token issue prices from German startups with their token prices in September. This study found that most of the coins had suffered up to 90% of losses in coin value, which even higher that what the top two cryptos – Bitcoin and Ether – have suffered since their all-time highs in 2017.
The report also found that of the ICOs launched in by German startups, only financing startup Neufund and the app for shopping, Wysker have managed to keep their token values stable.
Read more details here.
KIP Investing in Blockchain Startup
KIP (Korea Investment Partners), South Korea’s biggest venture capital company, is taking its first steps into a new industry by investing in its first Blockchain startup. KIP announced today that it was investing in Temco, a Blockchain startup that is looking at revolutionizing the supply chain management system, focusing on small- and medium-sized businesses. KIP did not mention how much it has invested in the startup.
According to Temco’s website, vendors will be able to track their products right from the distribution stage of the supply chain to consumption. The product movement is tracked on a Blockchain, which also enables vendors to also share the data if they wish to.
Get more about this story here.
Block.one Responds to Allegations of Misdeeds against EOS BPs
Last week, allegations began to surface of misdeeds such as “mutual voting” and “collusion” against EOS’ Block Producers (BPs), who are the equivalent of cryptocurrency miners in other Blockchains. Eosone published a report that it claimed was a leaked spreadsheet from Chinese crypto exchange Huobi. The spreadsheet reportedly contained four tables that showed mutual voting tables for nodes as well as node income statements. According to Eosone, this meant that mutual voting was taking place in exchange for payoffs.
The developer of EOS, Block.one published an official statement signed by CEO Brendan Blumer, that the company was aware of that “unverified claims” had been made about the BPs.
Read the rest of the story here.
Total Market Cap: Oct 02
The cryptocurrency market’s volumes of trade have fallen $1.09 billion to $14.17 billion. The market’s value lost $0.89 billion to $222.31 billion.
Bitcoin Price Analysis: Oct 02
Bitcoin’s price is now $6599.53, losing 0.26% since yesterday. Bitcoin’s value is $114.26 billion and volumes in trade are $3.96 billion.
Ethereum Price Analysis: Oct 02
Ethereum’s price is $229.86, dropping by 0.51% since yesterday. Ethereum’s market value at this point is $23.53 billion and its trading volumes are currently at $1.55 billion.
State of the Top 10 Cryptocurrencies: Oct 02
The cryptocurrencies of the top ten list have shown a mixed performance in the last 24 hours, with most of the token prices going down but a few going up. However, the gains as well as losses have been marginal. The highest losses were experienced by Ripple, which has fallen by 2.59%, followed by Stellar, which has lost 1.04% in trading so far today. Bitcoin Cash has shown the highest gains today so far, with its price going up by 2.59%.
- Bitcoin’s current price is $6599.53, losing 0.26%. Bitcoin’s value is $114.26 billion.
- Ethereum’s current price is $229.86%, losing 0.51%. Ethereum’s value is $23.53 billion.
- Ripple’s current price is $0.566385, losing 2.59%. Ripple’s value is $22.61 billion.
- Bitcoin Cash’s current price is $541.28, gaining 1.47%. Bitcoin Cash’s value is $9.40 billion.
- EOS’s current price is $5.68, losing 0.35%. EOS’s value is $5.14 billion.
- Stellar’s current price is $0.257525, losing 1.04%. Stellar’s value is $4.83 billion.
- Litecoin’s current price is $61.05, gaining 0.15%. Litecoin’s value is $3.57 billion.
- Tether’s current price is $0.998499, losing 0.08%. Tether’s value is $2.80 billion.
- Cardano’s current price is $0.084028, losing 1.03%. Cardano’s value is $2.17 billion.
- Monero’s current price is $114.69, 0.83%. Monero’s value is $1.88 billion.