Samsung prepares to release own cryptocurrency

April 25, 2019

The main cryptocurrencies on Thursday continue to be quite active decline with a controversial news background. On the one hand, the news that Samsung is preparing to issue its own cryptocurrency is favorable for the market. According to CoindeskKorea, Samsung Electronics is developing a token based on Ethereum ERC-20, and at the moment the company is in the process of testing the Mainnet. The source of the publication in Samsung Electronics states that the blockchain division of the company has already tested several versions of the blockchain protocol over Ethereum. The working group of the company made several models and calculates them. To date, there are already several platforms that function after several internal tests.

At the same time, a negative message for Ethereum was that Ethereum wallets were under threat of hacking, an unknown criminal had stolen $ 8 million from them. Against the background of this news, the rate of Ethereum, according to Libertex, decreased by 10.30 6.81% and dropped to 162.9 dollars with a capitalization of 17.3 billion dollars. Kryptorynok held mainly due to yesterday's Bitcoin rally. The total market capitalization remains above $ 180 billion at the time of writing, while BTC is “eating up” altcoins: the index of dominance of the reference cryptocurrency has reached its maximum level this year. Bitcoin overcame $ 5,600 yesterday, and spent most of the day above this level. The reference cryptocurrency began to decline, and at the moment BTC is trading at about $ 5,500, losing almost 2% per day. Daily trading volume hovers around $ 17 billion, which corresponds to the historical highs reached in December 2017. Analysts expect a pullback, but significant volumes of correction are not expected.

Bitcoin by this time fell by 1.03% - up to $ 5,420, its capitalization amounted to $ 96 billion. Litecoin weakened immediately by 7.15% to $ 72.7 with a capitalization of $ 4.5 billion.

Rumors that Ripple management got rid of XRP tokens became negative for XRP. After that, the network immediately appeared assumptions about the imminent fall in the course, as a result of XRP lost 8.64% per day and dropped to $ 0.296 with a capitalization of $ 12.6 billion.

The total capitalization of the crypto market has reached $ 176.1 billion. According to financial scouts, the weakening of the crypto bank continues to continue. So, in the near future, Bitcoin can fall in price to $ 5,350, Ethereum - to $ 160, XRP - to $ 0.28, and Litecoin - to $ 70.

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