Market Update 4.25.18 – EOS Migrating to its Own Network

| Publish date: 04/25/2018

Market News

EOS Migrating to its Own Network

EOS is going to migrate from the Ethereum network to its own on June 2, 2018. There will be 21 supernodes that will support the new EOS mainnet and candidates are vying for them. The candidate pool already has more than 50 applicants, ranging from regional enthusiasts to blockchain industry giants like Bitfinex, AntPool, OK Blockchain Capital, Wancloud and Huobi.

EOS’s framework can only support 21 supernodes, so the candidates need to prove their worth since they will be the backbone of network. Thus, potential supernode operators have to represent the community’s best interests – in terms of integrity as well as resources.

Get the full story here.

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Snoop Dog Hosting XRP Community Night

Ripple is throwing a VIP party called the XRP Community Night on May 15 in New York City, and Snoop Dog is going to host the show. While the event is only by invitation, Ripple said that it was going to run two Twitter events through which participants can win 10 tickets to the event.

The Twitter events – Twitter Trivia and Make the Meme – will be held on April 26 and May 2 respectively. Ripple announced that this event is being held to thank all those who have helped develop and promote Ripple, the XRP Ledger and the xRapid platform.

Read the details here

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Ethereum May Be Splitting

According to Ethereum’s top developers, Ethereum may be on the verge of a split. This possibility arose during a meeting of these developers where a discussion related to a controversial new code proposal named EIP 999.

This proposal is for a technical fix that could return about $264 million in funds that were lost. However, the proposal itself is causing so much debate that it may actually lead to a split in the network. Proponents of the fix cite frequent losses of the network’s cryptocurrency because of buggy contracts, stating that issue needs to be fixed. Detractors, on the other hand, say that editing the code could compromise the security and integrity of the entire platform.

Find out more here

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Total Market Cap: Apr 25

The trading volume in the cryptocurrency market shot up by more than $10 billion in the last 24 hours to $38.21 billion. The market’s capitalization has also shot up above the $400 billion mark to $412.89 billion.

Bitcoin Price Analysis: Apr 25

Bitcoin’s price rose by 2% to $9387.15. BTC’s trading volume went up to $11.34 billion and its market value also went up to $159.30 billion.

Bitcoin price chart 4.24.18

Ethereum Price Analysis: Apr 25

Ethereum’s price slipped down by 2.42% to trade at a token price of $657. The cryptocurrency’s trading volume in the last 24 hours was up to $3.91 billion, however, its market cap slipped to $65.26 billion.

State of the Top 10 Cryptocurrencies: Apr 25

Since yesterday, the cryptocurrency market’s trading volume may have gone up, but the prices of most of the top 10 cryptocurrencies fell, with the exception of EOS and Bitcoin. EOS is the highest performer for the day so far, gaining 8.34% to trade at $14.41.

  • Bitcoin rose 2% to $9387.15. The digital asset’s market cap is now $159.30 billion.
  • Ethereum dropped 2.42% to $657. The digital asset’s market cap is now $65.26 billion.
  • Ripple dropped 4.43% to $0.866625. The digital asset’s market cap is now $33.93 billion.
  • Bitcoin Cash dropped 12.03% to $1326.25. The digital asset’s market cap is now $22.66 billion.
  • EOS rose 8.34% to $14.41. The digital asset’s market cap is now $11.74 billion.
  • Litecoin lost 1.93% to $155.88. The digital asset’s market cap is now $8.76 billion.
  • Cardano dropped 2.92% to $0.287053. The digital asset’s market cap is now $7.44 billion.
  • Stellar dropped 3.65% to $0.369247. The digital asset’s market cap is now $6.85 billion.
  • IOTA dropped 7.4% to $2. The digital asset’s market cap is now $5.55 billion.
  • NEO gained 2.91% to $76.72. The virtual currency’s market value $4.98 billion.

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