Market Update 4.03.18 – Illegal Subsidized Bitcoin Mining
Market News
14 Arrested in S Korea for Illegal Subsidized Bitcoin Mining
The authorities in South Korea have arrested 14 people who are reported to be involved in bitcoin mining operations using illegally subsidized electricity. They are suspected to have been running these operations since May of last year.
According to the report, there were 13 companies involved in these operations, each using about 350 machines to mine Bitcoin. They were illegally getting a 10% discount on the electricity they were using. To read the full story, click here.
Line Launching Blockchain Subsidiary
Japanese social messaging app Line is launching its Blockchain subsidiary called Unblock, which will be based in South Korea. This company will be focused on researching blockchain tech and potential applications of that tech.
According to Line’s website announcement, the idea is to explore various blockchain based applications and then integrate them into Line’s messaging platform, thus adding value and technological innovation to its services.
Read the full story here.
Crypto-mining Browser Extensions Banned from Google Chrome
Google announced on Monday that it has banned all crypto-mining related extensions from its Google Chrome store. The company also stated that from July onwards, it was going to start removing all existing crypto-mining related browser extensions. The tech giant said that all other crypto-related extensions were still allowed, though.
The reason for this is abuse of the system. Google was previously okay with crypto-mining extensions on Chrome – as long as the purpose was explicitly specified. However, many users were abusing the system and adding on illicit extensions.
Read the whole story here.
Total Market Cap: Apr 03
Trading volume for the cryptocurrency market inched up just a bit to $13.27 billion for the last one day. The market’s capitalization also saw a slight jump to $278.32 billion since yesterday.
Bitcoin Price Analysis: Apr 03
Bitcoin prices found some relief in the last 24 hours as the cryptocurrency climbed 7.28% to trade at $7417.30. Trading volume in the world’s number one cryptocurrency is at $5.04 billion, and its value in the market is now higher at $125.90 billion.
Ethereum Price Analysis: Apr 03
Ethereum finally had some good news after days of slipping downwards. The altcoin’s market price went up by 6.17% to trade at $404.90 in the last one day. Trading volume for the crypto also inched up slightly to $1.24 billion, and its market value went up to $39.97 billion.
State of the Top 10 Cryptocurrencies: Apr 03
The last one day of crypto trading has finally brought in some good news for the cryptocurrency market, with the tide changing for pretty much all cryptocurrencies across the board. The biggest gainer in the top 10 list in the last 24 hours has been XRP, which gained 13.43%.
- Bitcoin’s market price has gone up by 7.28% to trade at $7417.30 now. The cryptocurrency’s market capitalization is now $125.90 billion.
- Ethereum’s market price has gone up by 6.17% to trade at $404.90 now. The cryptocurrency’s market capitalization is now $125.90 billion.
- Ripple’s market price has gone up by 13.43% to trade at $0.549927 now. The cryptocurrency’s market capitalization is now $21.49 billion.
- Bitcoin Cash’s market price has gone up by 5% to trade at $692.01 now. The cryptocurrency’s market capitalization is now $11.80 billion.
- Litecoin’s market price has gone up by 6.28% to trade at $124.89 now. The cryptocurrency’s market capitalization is now $6.98 billion.
- EOS’s market price has gone up by 6.54% to trade at $6.02 now. The cryptocurrency’s market capitalization is now $4.62 billion.
- Stellar moved up one spot and its market price has gone up by 13.48% to trade at $0.237437 now. The cryptocurrency’s market capitalization is now $4.40 billion.
- Cardano’s market price has gone up by 10.80% to trade at $0.165880 now. The cryptocurrency’s market capitalization is now $4.30 billion.
- NEO’s market price has gone up by 11.09% to trade at $52.48 now. The cryptocurrency’s market capitalization is now $3.41 billion.
- IOTA’s market price has gone up by 5.82% to trade at $1.09 now. The cryptocurrency’s market capitalization is now $3.02 billion.