After days of stability, the market finally crashed yesterday. Bears finally gained the upper hand and Bitcoin has dipped below $4,000. The total market cap lost nearly $3.2 Billion in the last 24 hours. While Bitcoin is currently trading around $3,950, it might have to go lower for it to successfully bounce back above $4,000. As the market crashed, the volume remained constant. All of the top 25 cryptocurrencies are flashing red today, posting single-digit losses.
In other news, Bing, a Microsoft search engine, is reported to have blocked more than 5 million cryptocurrency-related ads last year. The data was derived from Bing’s ad quality review and additional information shows that Bing suspended “nearly 200,000 accounts” in 2018 and the search engine operator removed 900 million ads from its platform. Following Google, Facebook and Twitter, Bing banned cryptocurrency-related ads in May 2018 and the move drew allegations of “cartel collusion” against cryptocurrency. Also, data from cryptocurrency data portal Messari shows that it costs an average of $7 million per day to secure the Bitcoin network. This is according to a new screener which outlines the revenues paid to miners and the new issuance and transaction fees. Currently, Bitcoin produces an output of $7.392 million PoW assets every 24-hours and the network distributes over $115,000 in mining fees. Ethereum’s daily issuance was $1.85 million and mining fees were $58,230 per day. The screener also found that both Bitcoin and Ethereum networks were spending roughly 0.1-percent of their current market capitalization.
1) Staking Rewards recently updated the data for its staking database and IOST ranked as the top token on their list. The current annualized yield by voting for one of the 83 active producers on the network is 25.77% and the stake ratio is at 13.37%. Staking Rewards ranked the staking complexity rate as ‘easy’, the reward rate as ‘very good’, and the risk rate as ‘stable’. Staking Rewards also provides a reward calculator that investors can use to calculate their daily, weekly, monthly and yearly earnings on each ‘stake-able’ token. Less than one month after its mainnet launch, IOST has processed 16 million transactions and achieved a block height of 7 million. The network also boasts 200 partners and ranks as one of the top 3 dApps alongside EOS, Tron, and Ethereum. (Read More)
2) Cryptocurrency exchange eToro has announced the successful acquisition of smart contract development company Firmo for an undisclosed amount. eToro CEO Yoni Assia believes that the acquisition would allow them to offer more tokenized assets. Assia said, “We believe that in time all investible [sic] assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.” Firmo’s employees will work as an internal innovation team and tokenize all of eToro’s assets. Firmo’s technology makes use of a smart contract language called “FirmLang,” which translates contracts to various platforms such as Ethereum, EOS or NEO. (Read More)
3) Japanese cryptocurrency exchange Taotao has announced that it will start trading a limit number of cryptocurrencies on March 25. A subsidiary of Yahoo! Japan owns 40% of the exchange. Initially available cryptocurrencies include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and XRP. Yahoo! Japan announced the acquisition through its subsidiary YJFX in March 2018. It reportedly cost them 2 Billion Yen (approx. $19 Million). Taotao recently gained all the regulatory approval in Japan, making them free to offer cryptocurrency trading services. After the Coincheck exchange hack last year, Japanese regulators have been cracking down on exchanges and implementing strict guidelines. (Read More)
