Market Update 5.24.18 – UNOPS Partnering With IOTA Foundation
Market News
UNOPS Partnering With IOTA Foundation
The UNOPS (United Nations Office for Project Services) is partnering with the IOTA Foundation to assess how it can use its distributed ledger technology to help the UN streamline its work flow. The announcement was made by the UN on Tuesday, when the organization stated that IOTA was going to help them increase operational efficiency using its tangle tech.
Unlike others in the crypto space, IOTA does not use Blockchain technology, which, according to the UNOPS special advisor for Blockchain technology Yoshiyuki Yamamoto is one of the reasons why the UN opted to work with the Foundation.
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Coinbase Rebranding GDAX Platform
On Wednesday, Coinbase announced that it was releasing a new version of its GDAX platform and is also acquiring Paradex, the crypto trading relay platform. This new version will be called Coinbase Pro and is aimed at making the trading experience more intuitive as well as easier. This new version of the platform will also have include a new chart system which will provide a more efficient access to historical data as well as integrated portfolio view.
As a part of its effort to offer customers greater use of digital assets, Coinbase Pro will also integrate its new acquisition, Paradex’s support over the coming weeks, which will then allow users to trade all types of tokens directly from their wallets.
Read more here.
XVG Hacked for the Second Time in Two Months
The altcoin Verge (XVG), which is a privacy focused cryptocurrency, was hacked for the second time in two months. In this hack, the crypto lost 35 million XVG over a span of a few hours. The altcoin has dropped by 14% is the last 24 hours and is currently trading at about $0.041. This means that the value of the hacked tokens would equal about $1.4 million.
In the beginning of April, the altcoin was hacked for the first time, and it lost 250,000 XVG as well as 25% of its market capitalization. Verge’s Twitter account had also been infiltrated in March, where hackers used the account to tweet about fake giveaways of XVG in exchange for other tokens.
Find out more here.
Total Market Cap: May 24
Trading volume in the cryptocurrency markets went up to $20.77 billion, but the capitalization of the market continued to fall, and is currently at $333.98 billion.
Bitcoin Price Analysis: May 24
The price of Bitcoin continued its downward trend, falling 4.62% to $7618.55. Trading volume is $6.43 billion and its market value is $129.60 billion.
Ethereum Price Analysis: May 24
Ethereum’s price dropped 4.62% to $600.48 in the last one day. Trading volume in ETH is $3.04 billion but its market value is $59.29 billion.
State of the Top 10 Cryptocurrencies: May 24
The market slump continues with all of the top 10 cryptocurrencies dropping in value even further. Stellar overtook Cardano to settle in the 7th spot. EOS was the biggest loser, falling 9.33%, with Bitcoin Cash following closely with a 9.1% drop in the token price.
- The price of Bitcoin’s dropped 4.62% to $7618.55. Its market value is $129.60 billion.
- The price of Ethereum’s dropped 4.62% to $600.48. Its market value is $59.29 billion.
- The price of Ripple’s dropped 4.5% to $0.6122. Its market value is $23.99 billion.
- The price of Bitcoin Cash’s dropped 9.1% to $1019.05. Its market value is $17.47 billion.
- The price of EOS’s dropped 9.33% to $11.07. Its market value is $9.69 billion.
- The price of Litecoin’s dropped 6.30% to $119.30. Its market value is $6.76 billion.
- The price of Stellar’s dropped 2.55% to $0.290167. Its market value is $5.39 billion.
- The price of Cardano’s dropped 6.88% to $0.205225. Its market value is $5.32 billion.
- The price of TRON’s dropped 5.79% to $0.071082. Its market value is $4.67 billion.
- The price of IOTA’s dropped 8.02% to $1.49. Its market value is $4.12 billion.