Market Update 4.06.18 – Monex Group to Acquire Coincheck

| Publish date: 04/06/2018 (Last updated: April 06, 2018 09:15 AM)
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Monex Group to Acquire Coincheck

The Japanese cryptocurrency exchange Coincheck has agree to be bought over by the Monex Group, an online Japanese brokerage firm. The exchange has been struggling to get back on its feet after it suffered a massive hack attack on January 26, this year.

According to the deal, the Chief Operating Officer of Monex Group, Toshihiko Katsuya will take over the role of Coincheck’s president and the exchange’s founder and current president, Koichiro Wada as well as COO Yusuke Otsuka will step down from their positions. To read the full story, click here.

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Self-Sovereign Identity an Alternative to Facebook

While the movement #DeleteFacebook has been gaining ground, the question that many people are asking is – what do we have that can replace Facebook?

According the latest news reports, it isn’t another social media platform just like Facebook. Rather, it is an open, standards-based infra that is focused on people called Self Sovereign Identity. Basically, this infrastructure lets people be in charge of their own digital identities. Users are not dependent on another platform to issue them an identifier for them to use. Read the full story here.

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Massive Crypto to Fiat Conversion Predicted Before Tax Day

According to research firm Fundstrat’s Tom Lee, there will be a massive outflow of cryptocurrencies just before tax day in the US. According to Lee, US households own about $25 billion in capital gains taxes thanks to their cryptocurrency holdings. Additionally, cryptocurrency exchanges will also need to pay their taxes.

This means that a whole group of people would need to convert their cryptocurrencies into dollars to pay the government the taxes they owe. To read the full story, click here.

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Total Market Cap: Apr 06

The cryptocurrency market’s trading volume went up just a little bit to $13.02 billion in the last 24 hours. The market’s capitalization was also higher compared to yesterday at $251.96 billion.

Bitcoin Price Analysis: Apr 06

Since yesterday, Bitcoin’s price has continued its slow drag downwards, dropping another 1.92% to trade at $6726.17 per token. Bitcoin’s market value is now at $114.08 billion and it has a trade volume of $5.08 billion at the time of writing this report.

Ethereum Price Analysis: Apr 06

Ethereum’s per-token price has slipped a notch by 1.74% to trade at $374.94 in the last one day. The digital currency’s trading volume is currently at $1.09 billion its value in the market is now at $36.82 billion.

State of the Top 10 Cryptocurrencies: Apr 06

The prices of all of the top ten cryptocurrencies based on market capitalization have dropped in the last 24 hours. The worst performers have been Cardano and Stellar, with each of them losing more than 10% in this time.

  • The price of Bitcoin has fallen by 1.92% to $6726.17 now. Its value in the market is $114.08 billion.
  • The price of Ethereum has dropped by 1.74% to $374.94 now. Its value in the market is $36.82 billion.
  • The price of Ripple has dropped by 3.47% to $0.483331 now. Its value in the market is $18.89 billion.
  • The price of Bitcoin Cash has dropped by 3.40% to $630.36 now. Its value in the market is $10.75 billion.
  • The price of Litecoin has dropped by 4.08% to $114.62 now. Its value in the market is $6.41 billion.
  • The price of EOS has jumped up by 4.70% to $6.01 now. Its value in the market is $4.64 billion.
  • The price of Cardano has dropped by 7.59% to $0.142873 now. Its value in the market is $3.7 billion.
  • The price of Stellar has dropped by 7.02% to $0.191470 now. Its value in the market is $3.55 billion.
  • The price of NEO has dropped by 2.96% to $46.09 now. Its value in the market is $2.99 billion.
  • Monero re-enters the top 10 list – ousting IOTA – with a price of $172.04, but the cryptocurrency dropped by 0.98% in the last 24 hours. Its value in the market is $2.69 billion.
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