Market Update 10.20.18 – Sia Network Launches Hard Fork Code
Market News
Sia Network Launches Hard Fork Code
The Sia blockchain network has released the formal code for an imminent hard fork, which is designed to block miners using hardware produced by Bitmain and other major manufacturers. David Vorick, founder and CEO of Nebulous, announced the release of code version 1.3.6 in Sia’s official channel on Discord. It even reminded miners that the hard fork will be activated on Oct. 31.
“All users who want to stay on the Sia network need to upgrade prior to the hard fork date. All major exchanges will be participating in the hard fork,” Vorick said. After a year of debate, the Sia blockchain community decided to enact a hard fork early in October. After activation, the new code will ensure only application-specific integrated circuit (ASIC) processors designed by Nebulous subsidiary Obelisk can be used to mine the network for block rewards.
Read the full report here.
Armenian PM Opens Largest Crypto Mining Farm
The opening ceremony of a new mining farm touting itself as one of the “world’s largest” was held in the Armenian capital Oct. 18. The Armenian Prime Minister and other top officials were reportedly in attendance. The new mining farm is basically a joint venture by major Armenian conglomerate Multi Group, founded by oligarch and politician Gagik Tsarukyan, and controversial international mining firm Omnia Tech.
Tsarukyan is the founder of Tsarukyan Alliance, which represents the second biggest parliamentary bloc in the Armenian Parliament, having sealed over 27 percent of the vote in the country’s 2017 elections. He is also reportedly a “key” business partner of former Armenian President Robert Kocharyan. Multi Group employs over 25,000 people through its various subsidiaries.
Read the full report here.
Global AML Watchdog To Release New Crypto Rules
A global money-laundering watchdog has said it will begin publishing rules for international cryptocurrency regulation by next summer. This is none other than the Financial Action Task Force (FATF), which is a France-based intergovernmental body tasked to develop policies for tackling money laundering. It announced global jurisdictions will have to bring into force licensing schemes or regulations for crypto exchanges and possibly digital wallet providers under the new rules.
Companies offering financial services for initial coin offerings will also be included. The news comes after the FATF plenary meeting this week with officials from 204 global jurisdictions to discuss crypto regulations and other matters. Official reports also suggest that FATF’s president, Marshall Billingslea, designated June as the month in which the group will begin publishing its guidelines and enforcement expectations.
Read the full report here.
Total Market Cap: October 20
The volume of trade in the crypto market sat at $10.56 billion. The market’s capitalization, on the other hand, reached $208.89 billion.
Bitcoin Price Analysis: October 20
In the past 24 hours, Bitcoin jumped 0.10% to trade at $6,471.12. The leading cryptocurrency’s trade volume trickled to $3.61 billion, while its market slid to $112.15 billion.
Ethereum Price Analysis: October 20
Ethereum’s price jumped 1.23% to trade at $204.81. As for the altcoin’s trading volume, it reached $1.28 billion; whereas its market capitalization hit $21.03 billion.
State of the Top 10 Cryptocurrencies: October 20
In the past 24 hours, all prices were up except Tether’s. Meanwhile, Monero continues to dethrone TRON at the 10th spot.
- Bitcoin’s market price jumped 0.10% to $6,471.12, and its value in the market is $112.15 billion.
- Ethereum’s market price jumped 1.23% to $204.81, and its value in the market is $21.03 billion.
- XRP’s market price jumped 1.97% to $0.461215, and its value in the market is $18.45 billion.
- Bitcoin Cash’s market price jumped 1.41% to $440.98, and its value in the market is $7.68 billion.
- EOS’ market price jumped 1.07% to $5.37, and its value in the market is $4.86 billion.
- Stellar’s market price jumped 3.44% to $0.244545 and its value in the market is $4.62 billion.
- Litecoin’s market price jumped 1.61% to $53.18, and its value in the market is $3.13 billion.
- Tether market price fell 0.39% to $0.978036, and its value in the market is $2.03 billion.
- Cardano market price jumped 2.60% to $0.076631, and its value in the market is $1.99 billion.
- Monero dethroned TRON at the 10th spot, with its market price jumping 0.06% to $103.98, and its value in the market is $1.72 billion.