Market Update 10.11.18 – MOBI Grand Challenge for Blockchain Apps in Autos

| Publish date: 10/11/2018

Market News

MOBI Grand Challenge for Blockchain Apps in Autos

The Mobility Open Blockchain Initiative (MOBI) and the Trusted IoT Alliance (TIoTA) jointly announced via a press release that they have launched a new tournament focused on Blockchain applications in autos. This new tournament is called MOBI Grand Challenge and its aim is to create the first viable auto network that is Blockchain powered.

The Challenge is also looking at creating a system that will coordinate different machines, offer data sharing options and, most importantly, improve the levels of mobility within urban areas.

Read the details of the story here.

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Rojava Looking at Cryptos to Overcome Economic Sanctions

The Democratic Federation of Northern Syria, also known as Rojava, a tiny country which is home to 4 million people, is now looking to cryptocurrencies to overcome the economic sanctions imposed on them. The nation has spent the last 6 years fighting for its territory and now has finally achieved a fragile peace. However, this nation is facing economic sanctions from all its neighbors – Syria, Turkey, Iran and Iraq.

The country’s main currency is the Syrian Lira, which is also the main currency of its enemy and neighbor, Syria. Thus, according to one of the leaders of the country’s technology program, Erselan Serdem, there is a belief that cryptocurrencies could prove to be a possible alternative towards economic independence.

Read more of the story here.

YoBit Initiating Pump Scheme on Random Cryptos

The Russian digital asset exchange YoBit tweeted on October 10 that it is initiating a pump scheme for random coins. A pump and dump scheme is a type of fraud which tries to boost the price of an asset artificially by using false recommendations. YoBit not only announced its intentions to pump and dump on Twitter, but also posted a countdown clock on its website, called the YoBit pump.

The exchange, founded in 2015, offers its users access to hundreds of different cryptocurrencies through its platform. However, the exchange has also courted controversy since it was launched, being in the headlines for multiple reports of suspicious activities as well as problems that users have faced when trying to withdraw funds from their wallets.

Read more here.

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Total Market Cap: Oct 11

The crypto market’s trading volume has gone up by $3.71 billion to $15.09 billion in trading today. The market’s capitalization has plunged $15.6 billion to $201.22 billion.

Bitcoin Price Analysis: Oct 11

Bitcoin’s price is $6275.74, nosediving 4.38% since yesterday. The crypto’s market value is down to $108.68 billion and trading volumes are $4.56 billion.

Ethereum Price Analysis: Oct 11

Ethereum’s trading price is now $200.94, an 11% drop over yesterday. The market value of ETH is $20.57 billion and trading volume is $1.80 billion.

State of the Top 10 Cryptocurrencies: Oct 11

Yesterday’s downturn in the cryptocurrency market has turned into a rout today, with all the top ten token losing billions in market capitalization. The biggest losers in crypto trading so far today are XRP (down 13.17%), BCH (down 12.26%) and XLM (down 12.21%).

  • Bitcoin is trading at $6275.74, falling 4.38%. The crypto is now valued at $113.58 billion.
  • Ethereum is trading at $200.94%, falling 11%. The crypto is now valued at $20.57 billion.
  • Ripple is trading at $0.405684, falling 13.17%. The crypto is now valued at $16.22 billion.
  • Bitcoin Cash is trading at $447.90, falling 12.26%. The crypto is now valued at $7.79 billion.
  • EOS is trading at $5.31, falling 9.03%. The crypto is now valued at $4.81 billion.
  • Stellar is trading at $0.212022, falling 12.21%. The crypto is now valued at $4 billion.
  • Litecoin is trading at $51.78, falling 10.10%. The crypto is now valued at $3.03 billion.
  • Tether is trading at $0.996772, falling 0.02%. The crypto is now valued at $2.69 billion.
  • Cardano is trading at $0.074695, falling 11.06%. The crypto is now valued at $2.17 billion.
  • Monero is trading at $103.48, falling 7.45%. The crypto is now valued at $1.70 billion.

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