Market Update 10.04.18 – Vote Buying Scandal Stokes Fears of EOS Governance Failure
Market News
Vote Buying Scandal Stokes Fears of EOS Governance Failure
The recent revelations by the Twitter account called Maple Leaf Capital, showing Huobi, one of the world’s biggest – and oldest – cryptocurrency exchanges, taking money in exchange for support to certain block producers, entities periodically elected and entrusted to maintain the history of the EOS Blockchain. The EOS network has only 21 block producers, who get rewarded in EOS tokens for maintaining the Blockchain and ensuring its decision making.
None of these allegations have been verified and Houbi instantly denied these allegations. However, the damage has been done, with the many now fearing that EOS’s governance is incomplete and in danger of failing.
Read the details of the story here.
Abra Supports BIT10, Which Tracks Crypto Index
The cryptocurrency wallet service and exchange Abra has launched its support for a new crypto token, BIT10, which tracks the Bitwise 10 Large Cap Crypto Index. This index was created by Bitwise Asset Management, the crypto asset management firm, and it tracks the top ten cryptocurrencies in terms of market capitalization. The top ten cryptos currently represent about 80% of the total crypto market cap.
This new token is listed exclusively on Abra, and according to the announcement, investors can acquire the new BIT10 token through the exchange for a minimum investment of $5.
Find out the details of the new token here.
Blockchain Key to JP Morgan’s Digital Transformation
According to a recent study conducted by ResearchAndMarkets.com (RM), Blockchain technology is a key aspect of JP Morgan’s digital transformation roadmap. RM conducted a study that analyzed the banking giant’s enterprise-wide strategies that would keep JP Morgan ahead of the competition from other banks, non-financial companies and even fintech startups.
According to reports, JP Morgan has put aside $10.8 billion for technology spends in 2018, of which $5 billion has been earmarked for investments in fintech initiatives.
Read further details about the story here.
Total Market Cap: Oct 04
The cryptocurrency market’s trading volume fell $1.12 billion to $13.06 billion in the last 24 hours. However, the cryptocurrency market’s cap has gained $4.69 billion to $219.76 billion.
Bitcoin Price Analysis: Oct 04
Bitcoin’s price is now $6583.38, going up by 1.51% since yesterday. The valuation of this digital asset is now $113.92 billion and is trading at volumes of $3.88 billion.
Ethereum Price Analysis: Oct 04
Ethereum’s price is $224.99, going up 2.24%. The altcoin’s value went up in the last 24 hours and is now $23.05 billion. Its trade volume is $1.62 billion.
State of the Top 10 Cryptocurrencies: Oct 04
Most of the cryptocurrencies in the top ten list are currently trading up. Monero (down 0.07%) and Tether (down 0.14%) are the only ones in the red at the time of writing. The biggest gains so far have been seen in Ripple, up 3.97%, Cardano, up by 2.51% and Ethereum, which is up 2.24%.
- Bitcoin is currently at $6583.38, going up 1.51%. Bitcoin’s valuation in the market is now $113.92 billion.
- Ethereum is currently at $224.99%, going up 2.24%. Ethereum’s valuation in the market is now $23.05 billion.
- Ripple is currently at $0.542140, going up 3.97%. Ripple’s valuation in the market is now $21.65 billion.
- Bitcoin Cash is currently at $526.89, going up 1.79%. Bitcoin Cash’s valuation in the market is now $9.15 billion.
- EOS is currently at $5.66, going up 2.23%. EOS’s valuation in the market is now $5.13 billion.
- Stellar is currently at $0.245554, going up 1.67%. Stellar’s valuation in the market is now $4.61 billion.
- Litecoin is currently at $58.92, going up 2.02%. Litecoin’s valuation in the market is now $3.45 billion.
- Tether is currently at $0.999149, going down 0.14%. Tether’s valuation in the market is now $2.80 billion.
- Cardano is currently at $0.082191, going up 2.51%. Cardano’s valuation in the market is now $2.13 billion.
- Monero is currently at $114.39, going down 0.07%. Monero’s valuation in the market is now $1.88 billion.