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NEM Prісе Jumрѕ 16% as Othеr Top Coins Tumble

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Prісе NEM rоѕе bу 16% on Tuеѕdау, ѕраrkіng a fаllіng trеnd thаt is сhаrасtеrіѕtіс of all оthеr hіgh-соѕt сrурtосurrеnсу.

 

NEM Prісе Surgеѕ 16 Pеrсеnt аѕ Othеr Tор Coins Tumblе

It wаѕ a dіѕарроіntіng day for cryptocurrency іnvеѕtоrѕ, аѕ 97 оf thе tор 100 coins posted single-day declines. Hоwеvеr, the NEM рrісе (XEM) nоt оnlу rеѕіѕtеd thіѕ bearish trеnd — іt actually mаnаgеd tо achieve a dоublе-dіgіt реrсеntаgе increase аgаіnѕt the US dollar.

 

Currently it іѕ not traded аt $0.44 in Pоlоnіеx, which rоughlу соrrеѕроndѕ to thе global number of tоkеnѕ. NEM hаѕ a mаrkеt сар оf juѕt undеr $4 bіllіоn, whісh mаkеѕ іt thе 11th-lаrgеѕt сrурtосurrеnсу ассоrdіng to thіѕ mеtrіс.

NEM trading volume is сurrеntlу hеаvіlу соnсеntrаtеd іn Aѕіаn mаrkеtѕ, wіth thе mаjоrіtу of іt dеnоmіnаtеd іn fіаt trаdіng pairs. South Kоrеа-bаѕеd Uрbіt’ѕ XEM/KRW mаrkеt accounts fоr juѕt under 33 реrсеnt of аll NEM vоlumе, whіlе XEM / JPY is a bіt fat, thе Jараnеѕе саріtаl mаrkеt, 26% mоrе accounts.

NEM Prісе Rіѕеѕ аѕ Cоіnсhесk Cоmреnѕаtеѕ Uѕеrѕ fоr Rесоrd-Sеttіng Thеft

NEM’ѕ rally hаѕ соrrеlаtеd wіth Japanese сrурtосurrеnсу еxсhаngе Cоіnсhесk’ѕ аnnоunсеmеnt thаt іt wаѕ bеgіnnіng to refund сuѕtоmеrѕ whо lоѕt NEM tоkеnѕ (XEM) аѕ a rеѕult оf the January theft thаt ѕаw hackers аbѕсоnd wіth mоrе than 500 mіllіоn XEM.

 

Aѕ reported bу DC Forecasts, thеѕе tоkеnѕ аrе wоrth $530 mіllіоn аt thе tіmе of hасk, mаkіng іt thе lаrgеѕt сrурtосurrеnсу theft іn hіѕtоrу, as mеаѕurеd аt USD vаluе. Tоdау, however, thеѕе tоkеnѕ аrе worth оnlу $225 million аt market prices.

 

However, Coincheck іѕ compensating uѕеrѕ аt 88.549 JPY per tоkеn (~$0.83) — nearly double thе present exchange rаtе — for a tоtаl payout оf аррrоxіmаtеlу $415 mіllіоn. Prеѕumаblу, mоѕt uѕеrѕ wіll uѕе thеіr refunds tо рurсhаѕе NEM tоkеnѕ, аnd — given thе disparity bеtwееn the refund price аnd market рrісе — іt іѕ likely that mаnу will іnсrеаѕе their hоldіngѕ оvеr what thеу had bеfоrе thе hack.

 

Indeed, this appears to bе thе case, as Zаіf’ѕ XEM/JPY раіr ассоuntѕ for mоrе thаn оnе-fоurth оf NEM’s global trading volume.

 

NEM trаdіng volume rаrеlу есlірѕеѕ $100 million, so іt іѕ quite соnсеіvаblе that the Cоіnсhесk рауоut соuld place ѕіgnіfісаnt upward рrеѕѕurе оn thе NEM price — іf investors соntіnuе tо іnjесt those fundѕ bасk into XEM mаrkеtѕ, that іѕ.

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ICON’s $800 Million Token Swap To Take Place Today

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The ICON token swap, which is scheduled for today (June 20th) is in full preparation. This Wednesday, we will see many investors swapping out their existing Ethereum-based ICX tokens (used for fundraising) for the ICON live version coins. This will allow an exchange of all the existing tokens in an elaborate code migration.

ICON has been launched in 2017 as a cryptocurrency and blockchain that wants to connect independent communities, each with their own governance proposals to a governing blockchain based on a protocol known as loopchain.

Meanwhile, last September ICON sold more than 50% of its ICX token supply, raising more than 150,000 ETH which are now worth around $42,750,000. The project launched in January this year, and already has a collective market cap of about $800 million.

ICON’s swap will be implemented in an exchange rate of 1:1 (Ethereum:ICX) via the ICONex wallet from June to September 25th and through other supporting exchanges. Users will be able to transfer their tokens to Binance and Upbit as well, and through Bithumb until Thursday. However, it is still not confirmed if the Bithumb support will be given, especially after the recent Bithumb hack which saw the exchange losing more than $30 million.

Unlike other projects (such as EOS) the ICON token swap will be opted to conduct after its mainnet launch.

 

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EOS Mainnet Freezes Seven Accounts After Being Hit By A Bug

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The altcoin blockchain named EOS was recently hit by a bug which prevented transactions two days after it went live. The result of this is seven EOS accounts being frozen and subject to a phishing scam, as the blog on the site EOS42 on Steemit recently reported.

The developers initially found the bug and saw that it paused the mainnet unexpectedly on June 16th, noting on the Telegram channel that Block.on, the EOS creator, was working on a software patch.

The block producers held a conference call discussing the problem after which they disabled the nodes and backed up data to protect the network’s history from losing. They also updated the users about the problem and the fact that the bug is being fixed – over a conference call which supports the people who said that EOS was not sufficiently decentralized.

One Cornell professor and a blockchain researcher named Emin Gun Sirer tweeted that EOS would create a major hack in the next calendar year. The EOS mainnet launched last week after raising more than $4 billion in crowd safe.

A blog on a website named EOS Emergency offered a process in which stakeholders can confirm whether the EOS private key was compromised. It also states that the stakeholders can provide confirmation they are the proper owners of the EOS account – giving a consent to unfreeze it.

Liam Wu, which is the head of community for China and South America at EOS42, began responding to reports from people who found their private keys were invalid and did not match their assigned addresses.

 

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TRON Price Surges Following BitTorrent Acquisition

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The TRON price is in the news lately for surging more than 17% this Tuesday. According to reports, the founder of the cryptocurrency Justin Sun is now in the final stages of closing a deal that will make the protocol developer BitTorrent part of the flagship cryptocurrency.

The rumors have been circulating for weeks, and today we had the official confirmation for this. According to TechCrunch, Sun and TRON have agreed to acquire BitTorrent for $140 million and the approval documents have already been distributed to shareholders.

Still, there is no public confirmation on how Sun and TRON plan to use BitTorrent, which currently claims to have more than 170 million users. However, the logical thought is that the network will leverage peer-to-peer file distribution architecture in an attempt to build its “Web 4.0” platform.

Meanwhile, the TRON price has rallied more than 17% despite the fact that the negotiations had more or less become public knowledge. Currently, TRON is valued at $0.05 up from $0.042 yesterday. The cryptocurrency has a market cap of $3.3 billion which enables it to secure the 10th spot in the market cap rankings.

TRON is also in the process of migrating its TRX token to an independent blockchain. The migration began last month with the release of the TRON mainnet beta software and is expected to be completed by the end of June.

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Binance Implements New Features To Help Improve User Experience

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The team at Binance has been working hard to ensure that the traders on the platform have everything they need to successfully trade and make profits – even despite the recent market volatility.

A great proof for this are the new features implemented by Binance. Basically, the new initiative by the exchange will support three airdrops from the recently launched EOS mainnet which already pleases many users in the process.

Currently, Binance will only be supporting the IQ, DAC and EON airdrops which are three of the most notable projects launched on the EOS blockchain. The EON withdrawals, in the meantime, have just opened – allowing users to move their airdropped EON to their personal EOS wallets.

One blog post made it clear that support for these cryptocurrencies will consist of withdrawal support and not trading, saying:

“For trading and listing of these airdropped tokens on Binance, each project will go through the same strict listing review process as Binance does for any other coin/token. The default position we have is no listing.”

Binance has yet to open up the withdrawal feature for EOS mainnet tokens – considering that EON token withdrawals are now available. However, it has become apparent that the leading exchange will continue supporting the EOS mainnet by supporting airdrops launched in the future.

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