Market Update 5.01.18 – American Meat Maker Unveils Bacoin Cryptocurrency

| Publish date: 05/01/2018
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Market News

American Meat Maker Unveils Bacoin Cryptocurrency

According to the latest news reports, meat maker Oscar Meyer announced the launch of Bacoin, claiming it is the first-ever cryptocurrency that is backed by the “gold standard of Oscar Meyer Bacon”.

Through this project Meyer is offering users Bacoin as a sort of online incentive to get them to promote the branded meat product online through social media as well as email. With this move, the 130-year-old meat company joins the bandwagon of food companies to use cryptocurrencies to increase product branding.

Read the full story here.

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US FTC Offering Free a Workshop on Crypto Scams

The US Federal Trade Commission (FTC) announced that it will hold a free workshop called Decrypting Cryptocurrency Scams. The aim of this workshop is to raise awareness about the risks involved in dealing with the cryptocurrency space. According to the agency’s press release, while public interest in cryptocurrencies has increased over the years, cryptocurrency related scams are also on the rise.

This workshop will include diverse segments such as law research organizations, enforcement, consumer groups as well as representatives from the corporate sector and will assess the problem of how scammers are using the public’s interest in cryptocurrencies against them.

Find out more here

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UNDP and Sun Exchange Form Partnership for Solar Energy

According to news reports the United Nations Development Program (UNDP) has joined hands with Blockchain-based startup Sun Exchange in a pilot program that is trying to bring solar power to a university in Moldova. Each of the solar panels needed for this project will be owned by people around the world and will be rented out to the recipient university.

According to the CEO of Sun Exchange Abe Cambridge, the university would lease these panels for the next 20 years. In return, the owners of the panels would paid in Bitcoin, Solarcoin or even the startup’s own cryptocurrency.

Read the full story here

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Total Market Cap: May 01

Trade volume continues to go down further to $28.92 billion and the market’s value has also dipped to $412.85 billion in the last twenty-four hours.

Bitcoin Price Analysis: May 01

The world’s most valuable cryptocurrency’s price fell further by 3.12% to $8994.10 in the past twenty-four hours. BTC trade volume, however, inched up to $8.43 billion but its market capitalization slipped to $153.02 billion.

Ethereum Price Analysis: May 01

Ethereum’s token price slid by 4.41% to trade at $658.14. The trading volume for the altcoin went up to $2.79 billion but its market cap fell to $65.26 billion.

State of the Top 10 Cryptocurrencies: May 01

According to analysts the cryptocurrency market seems to be going through a slight correction. This can be seen in the prices of the top ten cryptocurrencies, all of which lost value in the last 24 hours. EOS and NEO were the worst performers with losses of 9.77% and 8.17% respectively.

  • Bitcoin’s token price dropped 3.12% to $8994.10, and the market value of the cryptocurrency is $153.02 billion.
  • Ethereum’s token price dropped 4.41% to $658.14, and the market value of the cryptocurrency is $65.26 billion.
  • Ripple’s token price dropped 4% to $0.819609, and the market value of the cryptocurrency is $32.08 billion.
  • Bitcoin Cash’s token price dropped 7.41% to $1297.38, and the market value of the cryptocurrency is $22.18 billion.
  • EOS’s token price dropped 9.77% to $17.26, and the market value of the cryptocurrency is $14.30 billion.
  • Cardano’s token price dropped 4.34% to $0.342671, and the market value of the cryptocurrency is $8.88 billion.
  • Litecoin’s token price dropped 4.03% to $145.19, and the market value of the cryptocurrency is $8.17 billion.
  • Stellar’s token price dropped 1.17% to $0.434011, and the market value of the cryptocurrency is $8.06 billion.
  • TRON’s token price dropped 4.19% to $0.089529, and the market value of the cryptocurrency is $5.88 billion.
  • NEO’s market price dropped 8.17% to $80.95 and the market value of the cryptocurrency is $5.26 billion.
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