Market Update 5.03.2018 – Bacoin’s Marketing Strategy

| Publish date: 05/03/2018
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Market News

Bacoin’s Marketing Strategy Aimed at Mocking the Cryptocurrency Industry

As the name suggests, Bacoin is a cryptocurrency specifically designed for the bacon industry, with one Bacoin valued at around 11 strips of real bacon. Interestingly, it is only a matter of time before the number of bacon strips increases. Although Bacoin seems to be interesting, it is also proof that any material (e.g. food, drink, product, etc.) should never have its own native token.

For starters, there is no way to obtain Bacoin no matter how many times a user enters his/her email address on the project’s official site. And while it is true that the offer is up until May 14, there seems to be no seeable future.

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Goldman Sachs to Enter Crypto-Trading Industry

Goldman Sachs is without a doubt one of the most popular men in finance, so it is only expected from him to jumpstart his own Bitcoin trading. His crypto-currency desk will reportedly be situated at a Wall Street bank, which is believed to use its own money in trading.

Sachs even stated that Bitcoin, contrary to popular belief, is not a fraud. And while it is true that it does not have any currency characteristic, a number of Sach’s clients see it as a valuable commodity, which is something like gold. It appears that the ultimate decision to enter Bitcoin trading has been greenlighted by the bank’s board of directors.

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Russian Blogger Who Boasted About Crypto Wealth Found Dead

The Russian blogger and cryptocurrency investor Pavel Nyashin was found dead in his apartment in St. Petersburg. Following the previous assault in his original residence, the 23-year-old decided to move in with his mum in an apartment. He was, however, found dead with no signs of outside intervention.

The titular blogger was known for boasting his crypto wealth on his YouTube channel. Apparently, the said channel has not been updated for the past three months. Authorities are currently doing an investigation, though no leads have yet to be gathered.

Read the full report here:

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Total Market Cap: May 3

The volume of trade in the crypto market sat at $28.5 billion. The market’s capitalization, on the other hand, increased a bit at $447.97 billion.

Bitcoin Price Analysis: May 3

In the past 24 hours, Bitcoin slipped a notch by 5.21% to $9,652.78. The leading cryptocurrency’s trade volume trickled to $9.92 billion, while its market slid to $164.22 billion.

Ethereum Price Analysis: May 3

Ethereum’s price went high at around 11.43% to trade at $756.77. As for the altcoin’s trading volume, it reached $3.96 billion; whereas its market capitalization hit $75.08 billion.

State of the Top 10 Cryptocurrencies: May 3

While most prices are a notched high compared to yesterday, some have still fallen slightly. TRON was able to dethrone NEO at the 10th place.

  • Bitcoin’s market price jumped 4.95% to $9,619.99, and its value in the market is $163.67.
  • Ethereum’s market price jumped 11.18% to $755.51, and its value in the market is $74.95 billion.
  • Ripple’s market jumped 2.57% to $0.877019 and its value in the market is $34.34 billion.
  • Bitcoin Cash’s market jumped 2.70% to $1,493.77 and its value in the market is $25.56 billion.
  • EOS’s market price fell 3. 34% to $18.17 and its value in the market is $15.14 billion.
  • Cardano’s market price jumped 1.17% to $0.375323, and its value in the market is $9.73 billion.
  • Litecoin’s market price jumped 6.48% to $160.10 and its value in the market is $9.02 billion.
  • Stellar’s market price fell 0.22% to $0.436824 and its value in the market is $8.11 billion.
  • IOTA’s market price jumped 13.60% to $2.54 and its value in the market is $7.07 billion.
  • TRON ousted NEO, but its market price fell 2.18% to $0.088704 and its value in the market is $5.83 billion.
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