Tokens Record Losses as Major Cryptos Struggle; Bitcoin Stable at $6,500

Usually, stability in the Bitcoin price leads to an increase in the momentum of tokens. On August 21, tokens recorded the largest losses in the global crypto market. Tokens Unstable In the past 24 hours, tokens such as Tezos, Kin, Ark, Basic Attention Token (BAT), and Aelf (ELF) declined by 5 to 15 percent against … Continued

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China Updates Crypto Ranking – Bitcoin Makes Top 10

China Updates Crypto Ranking – Bitcoin Makes Top 10

China has updated its crypto ranking, adding two projects to the previous month’s list. Bitcoin has significantly improved, making the top 10 list for the first time. Crypto projects are ranked in three categories: technology, application, and innovation.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

33 Crypto Projects Ranked

China’s Center for Information Industry Development (CCID), under the country’s Ministry of Industry and Information Technology, officially released its fourth crypto project ranking on Friday. The new list consists of 33 crypto projects, two more than the previous list.

China Updates Crypto Ranking – Bitcoin Makes Top 10The center began ranking 28 crypto projects in May. The following month it added 2 more projects: EOS and Nebulas. Last month one more was added: Gxchain. This month two more public chains were added: NULS and Tezos.

For the first time since the CCID began ranking crypto projects, Bitcoin made the top 10 list, jumping from the 16th place in the previous month to the 10th place this month. Meanwhile, EOS remains top of the list, followed by Ethereum.

China Updates Crypto Ranking – Bitcoin Makes Top 10

The CCID explained that its assessment “mainly examines the basic technology, application and innovation of public chains,” adding:

The current model is basically the same as the previous one, and only some data accounting methods have been revised. In terms of the composite index, the three public chains with the highest increase in scores compared to the previous period were EOS, Nano and Komodo, and the three public chains that have risen the fastest in ranking were Komodo, Nano and Bitcoin.

Bitcoin’s Lead and New Additions

The CCID elaborated that “in terms of innovation sub-indicators, Bitcoin’s recent code update is very active,” earning the project a score of 40.3 for this category – the highest on the list.

The overall ranking puts EOS at the top of the list, Bitcoin the 10th spot, Stratis the 13th spot, Bitcoin Cash 29th, and Hcash 30th. However, the center noted:

Compared with the previous ranking, the top five most improved [in terms of] innovation are EOS, Bitcoin, Bitcoin Cash, Hcash and Stratis.

The two new additions, NULS and Tezos, debuted in the 21st and 28th places, respectively. The former “is a blockchain infrastructure for customized services,” consisting of “microkernels and functional modules,” the center described. It occupies the 21st place overall “due to the short time its mainnet has been online, [and] many functions are still under development.” Similarly, the center ranks Tezos 28th even though “Tezos also has outstanding features in technological innovation,” the CCID detailed.

What do you think of the CCID’s new ranking? Let us know in the comments section below.


Images courtesy of Shutterstock and the CCID.


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EOS, Litecoin (LTC), & Tron (TRX) Fall

cryptocurrency market fall

As we start out the fourth week of August, we see most of the cryptocurrency market fall. Bitcoin (BTC) is trading just below $6,500 and Ethereum (ETH) has once again dipped below $300. This weekend, the market took a slight rise and almost peaked over $225 billion, but has since been corrected.

Let’s take a look at EOS, Litecoin (LTC), Tron (TRX), and their latest project updates today.

Cryptocurrency Market Fall – EOS

For the third month in a row, EOS has been given the top rating spot on China’s national blockchain ratings. The ...

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China’s Latest Blockchain Rankings Pins EOS on Top, Bitcoin at #10

China has released its blockchain rankings for August, rating public blockchain networks like Bitcoin and Ethereum based on their application and technology. The rankings, created by China Electronic Information Industry Development Research Institute and the China Software Testing Center, featured the contributions of professors and researchers at the country’s most prestigious educational institutions including Tsinghua

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Valuation of Crypto Market Slightly Declines But Bitcoin Price Shows Stability

In the past 24 hours, the valuation of the crypto market has dropped slightly by $2 billion, from $215 billion to $213 billion, as the Bitcoin price and Ethereum price demonstrated stability. Most major cryptocurrencies including Bitcoin Cash, Ripple, EOS, and Ethereum recorded decent gains in the range of 1 to 5 percent. Tokens including

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Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

Cryptocurrency prices have seen some recovery after our last markets update four days ago when a large majority of digital assets lost quite a bit of value. Since then, and more so over the last 48 hours, the entire crypto-economy capitalization ($216B) has gained roughly $20B. The action yesterday was more bullish as most of the top digital assets were up between 6-20 percent but have since lost some of those gains during this weekend’s trading sessions.

Also read: Testing the Newly Transformed Non-Custodial Coinbase Wallet

Up Moves, Down Moves, and Eight Months of Corrections

Last week was pretty bad for most of the top digital asset markets, except we mentioned during our last markets update that bitcoin core (BTC) spot market prices took the least of the blows downward. Then a little less than 48 hours ago and mostly yesterday cryptocurrency markets picked up again with BTC touching a high of $6,615 on Bitstamp. But on Friday, August 17 most digital asset markets besides BTC reaped a lot more gains as a good portion of the top markets saw 10-20 percent spikes.

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

The biggest gainers were ripple (XRP), monero (XMR), and stellar (XLM) as the values of each currency are up between 2-5 percent over the last seven days. Top digital currency trade volumes today are held by BTC, USDT, ETH, EOS, XRP, and BCH. There’s been about $14B USD worth of trade volume swapped among all 1600+ virtual currencies.  

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are down today 4.3 percent while the past seven days show BCH is also down 2.2 percent. At the time of writing, BCH/USD markets are valued at $560 per coin with an overall market valuation of around $9.68B today. The top five exchanges swapping the most BCH this weekend are Okex, Coinex, Binance, Hitbtc, and Bitfinex.

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

Market volume is fairly decent, but weaker with $420M USD worth of BCH traded over the last 24 hours. Right now the top currency paired with bitcoin cash on exchanges is tether (USDT) which captures 49.2 percent of all trades. This is followed by BTC (27.5%), USD (10.5%), ZB (3.44%), QC (3.16%), and the KRW (2.15%).

Bitcoin Core (BTC) Market Action

Bitcoin core (BTC) prices are up about 1 percent over the last seven days worth of trading sessions but are down 1.9 percent today. At press time the average price for BTC is around $6,430 per coin and BTC’s market capitalization is $110B. The top exchanges today trading the most BTC include Bitflyer, Binance, Coinbene, Bitfinex, and Okex.

Markets Update: Crypto Prices Consolidate After Failing to Surpass Resistance

As mentioned above, BTC captures the top volume position with around $4B in 24-hour trade volume which is much weaker than the $5.5B traded four days ago. The top pairs trading with BTC involve the following currencies tether (USDT 59.1%), USD (19.6%), JPY (11.5%), EUR (2.9%), KRW (2.3%) and bitcoin cash (BCH 1.7%).

The Verdict: Uncertain Predictions

At the moment, even with prices showing some upswing, and some traders believing cryptocurrencies will enter a bullish trend, most traders still seem pessimistic. It’s difficult to see digital assets rise with dwindling trade volumes. Furthermore, a lot of confidence has been shot over the last eight months of false bull flags and many psychological price levels degrading. Some believe there is a noticeable support zone and prices may still move sideways and test these zones again. Other, more optimistic traders think the path of least resistance is towards the upside and markets are entering a bearish-to-bullish trend. Much of these short-term theories will likely be confirmed within the next 48 hours.

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


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EOS, Tron (TRX), & VeChain (VET) Get a Boost

Altcoin gainers today

Only a handful of coins in the top 100 cryptocurrencies are seeing losses on the market this morning. After a rough start to August, it seems the market has begun correcting itself again. At press time, Bitcoin (BTC) is trading just below $6,500 and Ethereum has just passed the $300 threshold.

EOS, Tron (TRX), and VeChain (VET) are all altcoin gainers today – let’s take a closer look at their prices and latest project updates.

Altcoin Gainers Today: EOS

EOS was passed by Stellar earlier this week for the fifth largest cryptocurrency by total ...

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Markets Update: Bloody Crypto-Markets Suffer More Losses

Markets Update: Bloody Crypto-Markets Suffer More Losses

Leading up until this Tuesday a great majority of cryptocurrency markets have lost considerable value over the past few days. Since our last markets update this past Saturday, the overall cryptocurrency capitalization as a whole has dropped significantly by losing $20 billion USD. All eyes will surely be fixed on digital asset charts this week as there’s been a plague of bearish market sentiment cast over the entire crypto-economy.

Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Chip 

There’s Blood in the Crypto-Streets

When it comes to cryptocurrency markets today on August 14, there’s an awful lot of ‘blood in the streets.’ During yesterday’s trading sessions, the entire cryptocurrency economy dropped under the sub-$200B zone and today the valuation is hovering around $195-199B. This is due to the extreme losses many digital currencies have suffered through over the past three days. A great majority of coins are seeing losses between 3-25 percent today as many assets have touched their previous bottoms or lower. Overall trade volume this Tuesday has increased, likely because prices are so low right now, and over the last 24-hours around $15.9B cryptocurrencies have been traded.

Markets Update: Bloody Crypto-Markets Suffer More Losses
The top ten digital assets today on August 14, 2018, at 10 am EDT.

Bitcoin core (BTC) has been able to dodge a lot of the downward blows as the currency has lost a lot less percentage wise than most other coins. This has led to BTC dominance or its market capitalization measured in comparison with the entire crypto-economy valuation to spike upwards of over 54 percent. Out of the top ten digital assets, cardano (ADA) has taken the biggest blow and has sunk to the 8th highest position because it lost over 16.8 percent in value over the last 24-hours. The price of ADA has dipped to around $0.09 per coin at the time of publication.

Markets Update: Bloody Crypto-Markets Suffer More Losses
Out of the top ten digital assets, cardano (ADA) has lost the most over the last 48-hours.

This is followed by the second biggest top ten loss with ethereum (ETH) seeing its market value lose 16.1 percent today with one ETH trading for $268. The third largest top ten loss today belongs to EOS as its markets are down 13.7 percent with one EOS trading for $4.44 per coin.

Bitcoin Core Market Action

Bitcoin core markets are down 3.94 percent today, and the cryptocurrency has been fighting to hold above $6,050-$6,175 per coin over the last day. Last night the BTC/USD price dropped to $5,880 coming awfully close to the currency’s assumed bottom at $5,774. Today BTC trade volume over the last day has been fairly decent at $5.5B and the currency’s entire market valuation is about $106B at press time.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The top five exchanges swapping the most BTC includes Bitflyer, Okex, Bitfinex, Binance, and Coinbene. The trading pairs seeing the most swaps today with BTC includes tether (USDT 50.2%), USD (26.5%), JPY (11.3%), EUR (4.7%), KRW (2.4%) and bitcoin cash (BCH 1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BTC/USD 4-H, August 14, 2018, 10 am EDT Coinbase.

Bitcoin Cash (BCH) Market Action

Bitcoin cash markets have seen a 24-hour loss of around 15 percent today and the currency’s market capitalization is around $8.5B. At the moment bitcoin cash is trying to stay above $490-515 at the time of writing but bulls have been struggling. Last night BCH dipped to a low of $472 on Bitstamp, but trade volume had spiked over $400M+ pushing the price back up after the drop.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The five leading bitcoin cash exchanges today include Coinex, Okex, Binance, Hitbtc, and Bitfinex. The currencies that are currently being traded with bitcoin cash the most includes tether (USDT 49.1%), BTC (27%), USD (13.1%), QC (2.83%), ETH (2.79%), and the KRW (1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BCH/USD 4-H, August 14, 2018, 10 am EDT Bitfinex.

The Verdict: Volatile Markets and Heavy Losses Increase Uncertainty

Digital asset markets have been wild over the past few weeks and many traders seem uncertain about where the ‘good-ship-crypto’ will go from here. 2017 was an exceptional year and the past seven months of 2018 has been literally the exact opposite as far as cryptocurrency values are concerned. The cryptocurrency economy as a whole has lost considerable value which in turn is brewing deep skepticism towards the future of certain crypto-markets. For now, most traders remain uncertain of where things will go and many are praying they played their positions correctly in hopes they don’t get squeezed. At the moment digital asset prices are starting to see a slight recovery after the significant losses last night. 

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, and Satoshi Pulse.


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Bitcoin and Ether Lack Momentum as Crypto Market Falls Below $200 Billion

In the past 24 hours, the crypto market has lost $23 billion, dropping from $217 billion to $194 billion, as major cryptocurrencies including Bitcoin showed a lack of momentum. What Has Happened to the Market? Without any exception, every major cryptocurrency in the market has plunged in value on August 14. Ether, the native cryptocurrency … Continued

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EOS’s Fourth Global Hackathon Announced for San Francisco

EOS news

In EOS news today, Block.one announced the location for its fourth EOS Global Hackathon.

We’re going to San Francisco! Developers, designers and entrepreneurs – are you ready to join us Stateside on Nov 10-11 for part four of our first-of-its-kind blockchain hackathon series? Sign up here for the first-ever #EOSHackathon event in the US: https://t.co/yJgFUxcHdv pic.twitter.com/wuVHaWkrCa

— EOS (@EOS_io) August 13, 2018

EOS Global Hackathon

The fourth location for the EOS hackathon was released today by EOS’s maker Block.one. It will take place in San Francisco, California on November 10-11th. Like all ...

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An In-Depth Look at the Cryptocurrency Economy’s ‘Stablecoin’ Trend

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

Back in the early days, cryptocurrency enthusiasts used to laugh at the thought of a stable cryptocurrency pegged to a specific fiat currency like the US dollar. Although nowadays things have changed and the digital currency tether (USDT) captures more cryptocurrency trade volume than most of the leading nation-state issued fiat currencies like the USD and JPY. Moreover, the past year or so more ‘stablecoins’ have been entering the crypto-economy, and some individuals think stablecoins are necessary elements for the future of this technology.

Also Read: Wormhole Mainnet and Developers’ Guide Launched

The ‘Second Bitcoin White Paper’ Written by JR Willett Unleashes the ‘Stablecoin’ Idea in 2012

‘Stablecoins’ — whether you hate them or love them they have become extremely popular over the last two years, and tether (USDT) a digital currency that’s issued over the Omni Layer protocol has become a puzzling phenomenon. Asset­-pegged cryptocurrencies started being heavily discussed and written about in 2012 in J.R. Willet’s Mastercoin white paper, and around 2014 the concept really started gaining steam. There have been many attempts to create stable coins that failed miserably at pegging. The cryptocurrency, nubits (USNBT), was supposed to stay valued at one US dollar. Nubits stuck to around a dollar since it launched up until June 9, 2016, and then sunk below that point until September 6, 2016. Again the currency kept stable for a while all the way until March 21, and it hasn’t been able to keep the 1:1 ratio ever since then.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend    Tether the King of All Crypto-Dollars

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' TrendIn November of 2014, Reeve Collins revealed the project ‘Tether’ a blockchain based coin that’s issued using the Bitcoin Core (BTC) network utilizing the Omni Layer protocol. The Omni network can grant and revoke tokens created by metadata embedded in the BTC chain and the project’s prodigal son is USDT. Every USDT issued is allegedly backed by one US dollar and the creators claim all the funds are held in reserves by Tether Limited’s bank. This particular claim is extremely controversial and USDT has been the center of a lot of attention.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

Nevertheless, tethers have been consistently stable ever since its price was first recorded on Coinmarketcap in February of 2015. The use of tether has become a popular vehicle for traders looking for a safe haven during bear markets. Tether makes it easier for traders to not have to convert back and forth into fiat and USDT is used by lots of popular trading platforms. Exchanges who use USDT include Binance, Poloniex, Bitfinex, Okex, Huobi, Hitbtc, Bittrex, ZB.com, Bitforex, Fcoin, and there are many more. Because a lot of cryptocurrency prices have been floundering, tether has managed to make its way into the top ten digital currency market capitalizations as USDT is now in the ninth position.   

Maker Dao and Dai Tokens

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' TrendAnother interesting stablecoin that has remained fairly consistent so far is the digital currency dai, a token created using the Maker Dao. The Maker Dao is a protocol that’s built on the Ethereum network and essentially it uses the dollar conversion rate when it locks up tokens autonomously. Essentially a user deposits a blockchain-based asset as collateral which then, in turn, creates stable dai tokens. Since dai tokens were first recorded on Coinmarketcap’s (CMC) historical index on December 27, 2017, the price has remained stable between $0.99 and $1.02 per coin. Dai tokens are not as popular as Tether (USDT), and the platform is relatively new. However the Maker Dao and dai tokens are being regularly traded on decentralized exchanges (DEX), and other token trading platforms like Bancor, Radar Relay, and Ethfinex. Dai is used by these exchanges, and by the general public, for borrowing and leverage opportunities because the currency’s price remains valued at $1 USD consistently.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

The Trust Token Asset Tokenization Platform

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' TrendThen there’s the stablecoin called ‘trueusd’ — a coin that’s issued by the Trust Token Asset Tokenization Platform. The creators of trueusd (TUSD) claim that each token is backed by collateralized USD assets dispersed over various escrow accounts within the Ethereum-based Trust Token Platform. So much like tether (USDT) the trueusd tokens are said to be backed 1:1 with the US dollar, and at the moment the currency has a $60M market valuation. Exchanges have started using trueusd for stablecoin pairs much like how tether is used these days. Just recently the Indian exchange Zebpay announced using trueusd and the trading platforms Bittrex, and Binance also have listed the coin. Trueusd was first listed on CMC’s historical data on March 6, 2018, and the token has also remained stable between $0.99 and $1.01 per TUSD.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend

More Stable Coins Are Coming

The three stablecoins mentioned above are probably the most popular so far, and each one has seen significant adoption. The controversial tether (USDT) is the reigning champion of stable assets today. However, there are a slew of other stablecoins that are making their way into the crypto-economy, or plan on joining in the near future.

An In-Depth Look at the Cryptocurrency Economy's 'Stablecoin' Trend
A few new stablecoins planning to join Tether, Trueusd, and Dai. Kowala’s Kusd, Havven’s Eusd, and Vaultusd.

A stablecoin called kowala (KUSD) has recently partnered with the hardware wallet firm Ledger. Ledger devices will be able to send, receive, and store KUSD. Another stablecoin in the works is called NUSD, which is an EOS blockchain-based asset that was built by the Havven development team. Following that project is a smart contract platform that plans to collateralize its tokens called Usdvault (USDVAULT), with gold bullion that’s professed to be housed in Swiss vaults. The Vault creators claim the stable coin will be based off a 1:1 USD price ratio, but the asset’s 1:1 value is essentially backed by the precious metals located in Switzerland. Further not too long ago the unicorn cryptocurrency company Circle Invest explained it is working on a stablecoin as well that will be tied to the value of US dollars.

It seems that even though some of these coins are controversial, and people need to put trust in the claims that the assets are truly backed by a certain collateralized asset, so far they still continue to grow very popular. Of course, the main concern will always be whether or not these stable currencies are truly pegged to real US dollars, and if they’re not and they are based on the price ratio, can they hold the 1:1 values over time.

What do you think about stable coins like tether, dai, trueusd? Do you think this concept will continue to be popular in the cryptocurrency universe? Let us know what you think in the comment section below.

Disclaimer: Bitcoin.com does not endorse nor support these products/services.
Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images via Shutterstock, Satoshi Pulse, Tether Limited, Trueusd, Dai Logo, and Pixabay.


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