Over the weekend the crypto market has seen some mixed signals where most of the top 15 cryptocurrencies experienced minor fluctuations, but Bitcoin Cash and Stellar are the only two that are getting the most attention in today’s crypto news because of the 3.5 percent gains they made.
Bitcoin failed to maintain the $6,400 price point and this major cryptocurrency was down by 4 percent over the weekend. Now it is trading at $6,387 after reaching the lowest point over the past 48 hours at $6,342.
Ethereum has also seen dropping from $201 to $199.5 over the weekend, but as of today, the altcoin is again at the same spot at $201 despite the decline of 0.4 percent in the past 48 hours. Another price drop is to be expected since a group of analysts from Northeastern University and the University of Maryland claim that the Ethereum smart contracts don’t have the right amount of diversity and therefore pose a threat to the entire Ethereum ecosystem.
Ripple was also slightly down, decreasing by 0.6 percent over the past 24 hours.
Bitcoin Cash, which is the fourth coin by market cap, showed a 3.6 percent growth in the past 48 hours and is trading at $534 at the time of writing.
Stellar also saw a distinctive growth when it increased by 3.8 percent over the 24 hours and was trading at $0.24.
The total market capitalization is around $206 billion which shows that it dropped slightly from the previous $207. The daily trade volume also sees a slight drop to $10 billion. At the time of writing, the total number of all cryptocurrencies listed on CoinMarketCap is 2,097.
The 30% Share Battle: Hundreds Of Crypto Exchanges Compete For Market Share
“In a stagnant market, the head effect (a Chinese market concept similar to the 80-20 effect) is now more evident for cryptocurrency exchanges. The top 6 exchanges have over 3 billion in trade volume each and takes up 58.9% of the total trade volume. The top 14 exchanges have over 100 million in daily trade volume and takes up 73% of the total trade volume.”As we can all conclude from the above mentioned, the rest of the two hundred (or so) cryptocurrency exchanges only have in total - less than 30% of the entire market share. Moreover, the visits to these exchanges are declining month by month, just like the bitcoin and altcoin trading activity. Bloomberg had recently reported that the leading exchange, Coinbase, has been hit hard and that its consumers trading activity has decreased by around 80% compared to last December. According to other statistics from CoinMarketCap, Binance trading volume peaked in January 2018 and has fallen 80% since then.
Researchers At McAfee Spot A New Russian Malware That Mines Monero And Zcash
“On x86 systems, it injects Cryptonight miner code into a running process and launches a process monitor. On x64 systems, it checks the GPU configuration and downloads and executes Claymore’s Zcash miner from a remote server.”Even though the malware was created in Russia, researchers claim that it has spread around the world - and there have been infections found in Brazil, South Africa as well as the United States. McAfee Labs also warned the users to look out for potential signs from their computers, stating:
“Once a machine is compromised, a malicious app runs silently in the background with just one sign: performance degradation. As the malware increases power consumption, the machine slows down, leaving the owner with a headache and an unwelcome bill.”This attack is another clear example of why the stockpiling of vulnerabilities by governments is a problem, according to many experts in the field. Meanwhile, cryptojacking has surged by 459% this year alone, according to recent research.
New $3 Billion Wipeout: Altcoins Start The Week Poorly
South Korean Exchange UpBit to Launch In Thailand And Indonesia
“Both countries appreciate the growth potential of the cryptocurrency industry. Thailand and Indonesia are very interested in blockchain and cryptocurrency, so we thought it would be a good thing to have an online presence before launch.”Operated by Dunamu Inc. which is an affiliate of Kakao Corp. which operates the country's most popular chat app Kakaotalk, Upbit is affiliated with the US exchange Bittrex. As the news outlet shows, the exchange was also planning an expansion move overseas, quoting the CEO stating:
“From the outset of the Upbit business, the company had a blueprint to become a global foreign exchange, not limited to the domestic market.”The current websites confirm that Upbit will be available in Thailand and Indonesia soon. For Thailand, there will be 131 coins and 241 pairs listed - while Indonesians will benefit from 156 coins and 276 trading pairs, accordingly.
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- The 30% Share Battle: Hundreds Of Crypto Exchanges Compete For Market Share
- Researchers At McAfee Spot A New Russian Malware That Mines Monero And Zcash
- New $3 Billion Wipeout: Altcoins Start The Week Poorly
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