Crypto Market Update (25 June 2018)

Bitcoin Global News (BGN)

June 25, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market has recovered some after another big drop yesterday. Nearly every coins in the top 100 are up and trading volume continues to climb. Theta Token (THETA) and Cortex (CTXC) are the major stand outs of the top 100 coins - up over 40% and 37% respectively in the past 24 hours. Bitcoin is right around $6,300 for about +6% change and Ethereum is right around $465 for 6% change in the past 24 hours. Market cap for the overall cryptocurrency market grew over $10 billion up to $252 billion total.

Major Headlines

Bitcoin Dipped To Lowest Pointe of 2018

Bitcoin was at its lowest value ($5,938.18) at 21:51 UTC, surpassing the prior low of $5,947 on February 6th. Since then BTC has risen 6% to around $6,300. It was only two weeks ago that Tim Draper (the guy behind the plan to split California into three states) explained why he thinks the price of Bitcoin will reach $200,000 this year. Tim Draper is a third generation silicon valley investor, who predicted last year that Bitcoin would hit $20,000 - which of course it did, if only briefly. CEO of The Blackmore Group and Wealth Chain Group made a similar, but less outlandish prediction a week ago, calling for $60,000. Historically June has seen yearly highs for most coins, but this year could break that cycle, possible in order to reach unseen highs.

Crypto-tourism Is A Multifaceted Influential Market

Crypto-tours are bringing together the diverse group of people who have helped create the blockchain space and those who have been drawn to it. One of the biggest expressions of this concept are the Blockchain Cruises organized by CoinsBank, a wallet provider based out of Scotland. The organization is gearing up for their third cruise and expect 2,300 people to attend. It’s somewhat like the Coindesk Consensus Conference, but on a ship… cruising the Mediterranean sea. Innovation Experience out of the Silicon Valley uses But it’s not all about hype. One group is using tours to show how the technology is bringing people together. The next Cryptonation tour in Israel brings together speakers of Jewish and Palestinian descent. CryptoCribs is simply a blockchain version of Airbnb that gives people a way to actively use their cryptocurrency.

Zcash At Risk Of 51% Attack

Mining cryptocurrency is what maintains the network. This process has pushed the development of hardware manufacturers and given them an interesting method of control. Ultimately, the issue is the 51% attack - where one group of miners controls a majority of the network, and can basically begin to write their own history of transactions. They could spend coins more than once, completely ruining the coin. This has happened before to Equihash and Bitcoin Gold, which both use the same mining algorithm as Zcash. Bitmain manufactures ASICS, which are the best miners for Zcash. Right now, one group of miners controls 41% of the network. So, it comes down to either Bitmain shipping out more ASICS and allowing other miners to compete - or the Zcash development team altering the mining algorithm.

Top 5 Gainers

EJOY (EJOY) +123.70% at $0.007891

U.Cash (UCASH) +113.56% at $0.003864

Dignity (DIG) +45.99% at $0.157628

Storiqa (STQ) +44.07% at $0.006672

Theta Token (THETA) +40.19% at $0.157792

Top 5 Losers

Fantomcoin (FCN) -41.09% at $0.195103

SRCOIN (SRCOIN) -40.06% at $0.000723

TRAXIA (TMT) -20.27% at $0.016365

BitRent (RNTB) -15.12% at $0.023880

Plancoin (PLAN) -14.85% at $0.086173