Cryptocurrency Market Recovers $17 Billion Following Crash
Bitcoin and other popular cryptocurrencies saw a brief crash yesterday, which ended up with some $35 billion drained out of the total market capital. It was heavily speculated that the most recent ICO ban from China might be the cause. As of right now, the top 3 exchanges that are trading Bitcoin are KRW, CNY and JPY with 20% of Bitcoin’s daily trading volume today, while the biggest US exchange is at 9%.
With Ethereum recovering over 17% of its losses from the past few days, the market and community seems to be preparing for the best in the upcoming Metropolis Hard Fork, which could be happening later this month. The Metropolis hard fork will be split into two core releases, Byzantium and Constantinople. The Byzantium release is scheduled to implement on September 22nd.
Social media network Kik is the latest well-known company to announce that it will be entering the digital currency game with the launch of its own initial coin offering (ICO) called, Kin.
Kik Interactive was launched in October 2010. At the time it was mostly just used as a messaging app. Since its launch, the Ontario-based company has made a name for itself as an innovator: It was one of the first messaging applications to announce a bot store, something that Facebook decided to mimic later. Kik has been experimenting with real world interfaces, such as allowing its user base to place orders at local restaurants without speaking to a server.
This article was first posted on Etoro.com/blog : Our Premium Trading Partner.
