Crypto Market Update (28 June 2018)

Bitcoin Global News (BGN)

June 28, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

There is more green in the top 100 coins today than yesterday, including some really big gains on some coins, however most major coins are consolidating around the same trading range as yesterday. Mithril (MITH) is the major stand out - up over +34% in the past 24 hours and Ethos (ETHOS) is up over 2% in the past 24 hours. Bitcoin is right around $6,200 for roughly no change and Ethereum is right at $440 for +1% change in the past 24 hours. Market cap for the overall cryptocurrency market lost $10 billion, coming down to $247 billion total.

Major Headlines

Coinbase Launches Charity Platform

“GiveCrypto” will hold and distribute cryptocurrencies to people in need, according to a Medium post, published June 27. CEO Brian Armstrong is looking to change the image cryptocurrencies have for lavish living. This is inevitable for those who invested early in the space, amassing huge quantities of coins at fractions of the cost of their current prices. “The goals behind GiveCrypto.org are to: 1. Help people in need by sending money to them directly. 2. Advance real-world usage and benefits of cryptocurrency. 3. Provide universal access to an open financial system.” The fund plans to raise $10 million for the first phase. It has secured $3.5 million so far, which began with a $1 million donation from Armstrong himself. The long-term goal is $1 billion in the next two years.

Zcash Successfully Hardforks

The new fork “Overwinter” introduces several performance enhancements to the Zcash protocol. “Transaction expiry” allows the network to automatically cancel ZEC transactions that have not been added to a block within a predetermined period of 20 blocks (~50 minutes). Another feature is simply preparing the network to adapt to future hardforks with inevitable improvements. The main is already planned, called Sapling. It is scheduled to go live in October. Developers say that this fork will increase transaction efficiency and scalability, particularly for transactions made from privacy-enhancing “shielded addresses.” Zcash released a two-year roadmapon their blog about all upcoming upgrades. Zcash will eventually become “privacy-by-default” instead of allowing users to choose anonymous vs. standard transactions with ZEC. The original fork is still operating currently, users are free to decline to upgrade.

Exchanges Bit-Z and Coinbene Are Drawing New User

The two exchanges have begun using a “trans-fee mining" revenue model. This resulted in huge increases for their their 24-hour trading volume. Singapore-based CoinBene rose to almost $2 billion, and Hong Kong's Bit-Z neared $1.5 billion. The most active exchange is generally recognized as Binance, where 24 hour trading volume has been around $1 billion recently. For every transaction fee a user pays to the exchange in the form of either BTC or ETH, the platform will reimburses 100% of the value in its own token.

Top 5 Gainers

WhaleCoin (WHL) +66.04% at $0.051832

StarCoin (KST) +65.79% at $0.012486

FuturXe (FXE) +57.89% at $0.000122

Selfkey (KEY) +49.19% at $0.011423

Mark.Space (MRK) +44.12% at $0.039493

Top 5 Losers

Sense (SENSE) -63.58% at $0.014231

PeepCoin (PCN) -44.08% at $0.000076

XYO Network (XYO) -32.50% at $0.001975

Linker Coin (LNC) -27.76% at $0.041563

Experience Points (XP) -22.70% at $0.000062