Privacy Coins Surge Again, a Possible Leading Indicator for the Crypto Market

Privacy cryptocurrencies are up big over the last 24 hours, led by Monero and Komodo.

Privacy cryptocurrencies have been on a tear over the past week, with the AltDex Privacy Coin Index (ALTPRV) up over 20%.

Things seem to be heating up once again, as the index is up nearly 10% in a matter of hours. This bullish price action is being led by several coins, including Komodo (KMD), Monero (XMR) and Verge (XVG).

The recent uptick is significant, as the broader market has yet to fully join the digital asset class in another major bullish move. The AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens, is currently up only 0.18% as Bitcoin tries to break through $7,250.

Given the current price action, a surge of buying when the U.S. market returns from the long weekend holiday could help push Bitcoin to new monthly highs and the recent price action with privacy coins could be a leading indicator of investor sentiment.

A similar situation happened on August 26 when the AltDex Masternode Index (ALTMSN), which tracks major masternode cryptocurrencies, jumped nearly 30% prior to a broader market run-up that saw Bitcoin move from $6,700 to nearly $7,100.

Source
Author CRAIG RUSSO 
Image Credit 

EOS Again Ranked #1 Cryptocurrency by Chinese Government

The Chinese government has once again named EOS the world’s top cryptocurrency in a ranking that prioritizes innovation and application over market capitalization. Bitcoin, the world’s largest cryptocurrency by market cap and trading volume, jumped seven spots compared with June.

LIONBIT

Crypto Market Ranking

China’s Center for Information Industry Development (CCID) has published the third edition of its Global Public Chain Technology Evaluation Index, which ranks dozens of cryptocurrencies on technology, application and innovation. EOS topped the list for the second consecutive edition despite concerns over the platform’s botched mainnet launch in June.

EOS’ strong performance likely reflects its scalability solutions. The platform’s proof-of-stake protocol is capable of processing a huge number of transactions when compared with leading blockchains bitcoin and Ethereum.

Like the previous edition, Ethereum was ranked second. NEO was bumped out of the top-three in favor of Komodo, which failed to crack the top-15 in June.

The top-ten are ranked as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

The first version of the report, released in May, ranked Ethereum as the world’s top blockchain.

TIP

Bitcoin’s Rise

Although bitcoin did not perform particularly well in the first two CCID reports, it has risen through the rankings following a major structural shift in the cryptocurrency market. As Hacked previously reported, bitcoin’s dominance rate has risen more than 40% over the past three months. Bitcoin now accounts for more than 52% of the entire market capitalization for cryptocurrencies after hitting a high of 54.5% last week.

EOS and Ethereum have seen their market values plummet over the same period. Ether’s dramatic fall, which culminated in last week’s 14-month low, has raised alarm bells over the health of initial coin offerings (ICOs) in the wake of last year’s record funding amounts.

Bitcoin’s growing market share essentially means other digital assets will rise and fall on its whim. Although non-correlation with bitcoin is seen as necessary for a healthy, dynamic cryptocurrency market, recent price developments suggest investors are dropping more speculative bets for an asset with a proven track record. According to Ethereum founder Vitalik Buterin, this will ultimately lead to a new era of ICOs with better protocols and more proven business models. This paradigm, known as “Tokens 2.0,” could materialize as early as next year.



Here at Dollar Destruction, we endeavor to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Sam Bourgi
Image Credit


Don’t forget to join our Facebook channel for Crypto, Business & Technology news delivered to you daily.

 

Cardano (ADA) And Komodo (KMD) Are The Cryptos You Should Keep An Eye On This Week!

The cryptocurrencies market might not look very sharp these days, as the last period the market experienced another significant downtrend. However, there are a few cryptos you should keep an eye on this week, and among them, there are Cardano (ADA) and Komodo (KMD).
LIONBIT
Cardano (ADA) might have an excellent week
Cardano (ADA) operated on the Cardano blockchain, headed by the ex-co-founder of Ethereum (ETH), Charles Hoskinson, and developed by the IOHK company.

The Cardano blockchain aims to bring the blockchain technology to the next level and to come up with a robust platform with libraries of protocols for smart contracts, based on which developers could build decentralized apps.

Momentarily, the Cardano platform is in the Byron stage where the team improves the code and debugs the network. Once the blockchain evolves to the next phase, the Shelley stage, the Cardano (ADA) blockchain would be decentralized, and the team would enhance the platform’s stability and interoperability.

The Cardano platform uses its own cryptocurrency, the Cardano (ADA), and the next significant roadmap update will roll out in late-August. However, on August 15th, a special announcement will be made.

TIP

Komodo blockchain intends to provide smart contracts, along with blockchain-based solutions, while the Komodo (KMD) cryptocurrency is a crypto for maximum security and privacy.

In the same day when Cardano (ADA) will have its special announcement, on August 15th, the Komodo’s second layer of notarization in the platform’s main blockchain, ZILLA, developed by ChainZilla, will make the last preps for the ChainZilla KMD airdrop.

If you want to be a part of this airdrop, then you would have to download the latest Komodo (KMD) wallet and have at least 500 KMD in your balance by August 15th. The first phase of the ChainZilla airdrop would commence on August 30th, 2018, and would deliver 1 million Komodo (KMD) to the eligible holders, based on their balances.

Despite the downtrend of the cryptocurrencies market, this week sounds full of events for Cardano (ADA) and Komodo (KMD), so you should keep an eye on these two, as their prices might surge.



Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: MaxPositives
Image Credit


Don’t forget to join our Twitter channel for Crypto, Business & Technology news delivered to you daily.

Austria Brings Crypto to the Masses: Bitcoin, Ethereum, XRP, IOTA, Bitcoin Cash, Litecoin, and Komodo

If you live in Austria, you can buy Bitcoin, Ethereum, Litecoin, IOTA, Ripple, Dash, Komodo and Bitcoin Cash at over 400 post office branches across the country.



Another 1,300 post partners are also selling cryptocurrencies through a new initiative by Vienna-based Bitpanda, one of Europe’s leading retail exchanges for buying and selling cryptocurrencies.

Bitpanda To Go allows customers to enter their postal codes to find the nearest branch. There are over 240 locations in Vienna alone and 176 locations in Linz. Purchases are in three denominations: 50€, 100€ and 500€.

Customers just need an email address to buy their preferred cryptocurrency with cash at any post office branch in Austria. The cryptocurrency is then sent directly to an integrated wallet.

The Austrian Post is focusing on expanding financial services for its customers to remain relevant and maintain strong earnings. The move is also positioning cryptocurrencies for mainstream adoption.

The Austrian Post has developed a “close-knit network of postal service points” that have created a competitive advantage at a time when post offices are looking to expand into other verticals. Its primary objective is to respond to customer needs with relevant products and services. The company, which posted a 2.3% increase for 2017 over the previous year, forecasts a continued 5% annual decline in addressed letter mail volumes, while double-digit growth rates are expected in the Austrian parcel market – thanks to the e-commerce boom.

Meanwhile, the US Postal Service reported revenue of $69.6 billion for fiscal year 2017 (October 1, 2016 – September 30, 2017), a decrease of $1.8 billion compared to the prior year. The company reports that the lower revenues were largely driven by accelerated declines in first-class and marketing mail volumes.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author: Daily Hodl Staff
Image Credit

Don’t forget to join our Telegram channel for Crypto, Business & Technology news delivered to you daily.