Cryptocurrencies Market Overview - April 05, 2018

Today in the news:

• Eclair wallet, the first mobile wallet built for Bitcoin’s Lightning Network, is now available for Android.
• The hacked Bitcoin exchange Coincheck decided it would accept a takeover offer from Japanese online brokerage Monex Group.
• An upcoming hard fork for Bitcoin Cash will raise BCH’s blocksize fourfold from 8 MB to 32 MB.
• Privacy coin Verge has fallen prey to a 51% attack.
• Japan is moving toward legalizing initial coin offerings.
• And more crypto news below...

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Latest Crypto News - April 05, 2018

Bitcoin Price Falls Below $6,800 in Struggle to Sustain Short-Term Momentum

Over the past 24 hours, the bitcoin price has declined from $7,300 to $6,594, recording yet another 10 percent correction. While several big buy volumes were recorded on major exchanges like Bitfinex and Bithumb, the market struggled to sustain the momentum it has created over the past 5 days from March 31 to April 4.
_{Read more: www.ccn.com}

More sources about Bitcoin's price:

• Make or Break? Bitcoin Risks Bear Revival Below $6.5K
• BTC Below $7,000 As Crypto Markets See Modest Downward Trend

Hacked Coincheck Exchange to Accept Takeover Bid, Report Says

Japanese cryptocurrency exchange Coincheck, which was the victim of a major heist in early 2018, is to accept a takeover offer from online brokerage Monex Group, a news report indicates.
_{Read more: www.coindesk.com}

Other sources:

• Coincheck accepts Monex takeover offer (Nikkei.com)
• Nikkei Report: Coincheck ‘Accepts’ Monex’s Offer To Invest ‘Billions’, Install New CEO
• Story of Coincheck: How to Rebound After the ‘Biggest Theft in the History of the World’
• Breaking: Hacked Japanese Exchange Coincheck Accepts Takeover Bid

R3 Researcher: Central Bank Blockchain Could Go Live In 2018

A form of central bank digital currency (CBDC) may go live in 2018. At least that's according to Antony Lewis, research director at global banking consortium and distributed ledger software startup R3, who issued the prediction during a panel discussion at the Deconomy event in Seoul, South Korea, on Wednesday.
_{Read more: www.coindesk.com}

Japan Unveils Guidelines for Allowing Initial Coin Offerings

Japan is moving toward legalizing initial coin offerings, even as countries such as China and the U.S. restrict the fundraising technique because of their risks for investors.
_{Read more: www.bloomberg.com}

Other sources:

• Japanese Research Group Establishes Guidelines For ICO Regulation

India Bans Banks from Processing Cryptocurrency Purchases

Indian residents can no longer purchase cryptocurrency through their bank accounts, according to new measures adopted by the country’s central bank. The sweeping policy, announced on Thursday by the Reserve Bank of India (RBI), prohibits RBI-regulated institutions from allowing their customers to purchases cryptocurrencies, and it also bars banks from providing services to businesses “dealing with or settling [virtual currencies].”
_{Read more: www.ccn.com}

14 Percent Of Japan’s Young Male Workforce Invest In Cryptocurrencies, Study Shows

A survey of male employees in Japan from ages 25-30 shows that 14 percent of the participants own cryptocurrency, according to data published April 3 by Shin R25, an online magazine for young businessmen.
_{Read more: cointelegraph.com}

Verge Is Forced to Fork After Suffering a 51% Attack

Verge, a ”privacy coin” famed for the zealotry of its community, has fallen prey to a 51% attack. A malevolent miner gained majority control of the network hashrate, a feat that makes it possible for the controlling entity to modify transactions, calling the integrity of the entire blockchain into question. Around 250,000 verge were stolen by the attacker, forcing the project team to prepare a hard fork.
_{Read more: news.bitcoin.com}

Other sources:

• Verge Hacked, Non-Fix Causes Fork, Dev Goes Bed, Solution? Tomorrow!
• Verge (XVG): Crashing After Accelerated Mining Attack

Electronics Giant Foxconn to Build Sirin Labs' Blockchain Phone

Taiwan-based electronics giant Foxconn is to help develop and build a blockchain phone from Sirin Labs, a news report indicates.
_{Read more: www.coindesk.com}

Other sources:

• Electronics Giant Foxconn Signs on to Manufacture $1000 Blockchain Phone
• Foxconn to Manufacture World’s First Crypto Friendly Blockchain Phone

Bitcoin Lightning Network Sees First Android Mobile App Hit Google Play

The first user mobile wallet built for the Bitcoin’s Lightning Network (LN) launched April 4 marking a further milestone for the technology.
_{Read more: cointelegraph.com}

Other sources:

• First Bitcoin Lightning Network Android App Hits Google Playstore

Bitcoin Cash to Upgrade, Blocksize Raised to 32MB, Script Ops Are Coming

The most used Bitcoin Cash client has announced 15th of May as the hard-fork upgrade date using the “Median Time Past” (MTP) method. That is when the middle time-stamp of the past 11 blocks reaches midday London time on May 15th, the new consensus rules come into effect. One such new consensus rule is the raising of the blocksize limit to 32MB, some 4 times higher than its current limit of 8MB.
_{Read more: www.trustnodes.com}

Other sources:

• Bitcoin ABC Forking Bitcoin Cash: 32 MB Blocksize & Op Codes Incoming

Ripple (XRP) Proposed to Buy Listings on Coinbase, Gemini

Last year, the Ripple team offered incentives and possibly a $1 million cash fee for getting listed on the Gemini exchange and an addition to the Coinbase app, reported Bloomberg. The information about the attempt to buy access to exchanges comes from four persons close to the Ripple project, who wished to remain anonymous.
_{Read more: cryptovest.com}

Other sources:

• Ripple Struggles to Find Its Luck For Getting Listed on Major U.S. Exchanges

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