Crypto Market Update (05 June 2018)

Bitcoin Global News (BGN)

June 05, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The mild reversal from last week continues to hold steady, as Bitcoin, Ethereum and many altcoins are showing consolidation in the past 24 hours, and trading volume continues to climb. GXChain (GXS) is them big standout of the top 100 coins up almost 10% in the past 24 hours. Bitcoin right around $7,500 for about 0% change and Ethereum is nearing $600 for +1%. Market cap for the overall cryptocurrency market climbed just $2 billion to $337 billion tota. June has historically brought huge uptrends in the cryptocurrency market.

Major Headlines

EOS “Hacker” shows they’re not always bad

Dutch “Ethical hacker” Guido Vranken made $120,000 in a week by finding bugs in the EOS programming code. EOS set out a kind of “bounty” for finding these problems where hackers who spot potentially dangerous bugs are given $10,000 per flaw. In just one day, Vranken found eight dangerous bugs, earning him $80,000. According to Vranken, his final tally was $120.000, but he “lost count,” over the process that took him about a week. The news came via tweets, which were posted to Reddit, where another user suggested that Block.one (an EOS dapp) should off Vranket a job - to which he replied: “They did :)” This is a perfect example of how drastically different the workplace is becoming in some industries. It is becoming easier than ever to simply prove that you are capable and skilled to be quickly onboarded, rather than the old fashion process of putting on the suite to interview with a paper resume in your hand.

Direct WTC to fiat pairing is coming

WaltonChain has consistently been at the forefront of pushing blockchain innovation into the real world through partnerships and tangible use-cases. A partnership with Simex will make the direct exchange possible. The platform is on par with the capabilities that Coinbase has expanded into recently with features designed to appeal to traders, the platform allows fundraisers, including traditional businesses and developers of crypto-currencies, to conduct private offerings including initial coin offerings (ICO). It is the largest Russian speaking exchange platform. It allows for transfers between their own accounts and to accounts of third parties, deposits from linked debit cards and payments to third parties using debit cards - a P2P feature which will allow users to lend to or borrow from each other is also in development.

Steve Wozniak hopes BTC will win out

Apple co-founder Steve Wozniak was recently interviewed on CNBC, where he was asked his opinion on Jack Dorsey’s (CEO of both Twitter and Square) comments that Bitcoin should be the single internet currency. It was last month at the Consensus Conference that he expressed his support: "We cannot risk hurting what made this possible to begin with … We can't do any of this without the technology being strong and available for everyone." Steve Wozniak feels the same in that Bitcoin is the safest, most secure cryptocurrency: "All the others tend to give up some of the aspects of bitcoin. For example, being totally decentralized and having no central control. That's the first one they have to give up to try to have a business model."

Top 5 Gainers

Bitcoin Interest (BCI) +146.32% at $8.82

Rhenium (XRH) +79.20% at $0.177993

BitTube (TUBE) +69.13% at $0.254037

AirToken (AIR) +56.90% at $0.008246

Swarm (SWM) +52.11% at $0.570499

Top 5 Losers

LIFE (LIFE) -39.78% at $0.000159

1World (1WO) -29.31% at $0.122103

Authorship (ATS) -26.03% at $0.013400

MicroMoney (AMM) -25.01% at $0.129429

Quark (QRK) -24.78% at $0.014272