CoinNess Daily Briefing
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Friday, June 1, 2019
Market Review

[CoinNess.com Market Surveillance June 1: BTC Edges Above $8550 Level]As of 11:00 (UTC) on June 1, the global index of Bitcoin (BTC) price remains above the $8,550 level and continues to edge up, marking $8,577.83. It has registered an increase of 3.18% in the past 24 hours.

The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is “Buy" with three indicators sending out a selling signal, five showing a neutral signal, and 10 indicating a buying signal.

The broad market is still within the grip of bulls, with 86 out of Top 100 cryptos by market cap rising.

The global market cap reads $272.66 billion, and the 24-hour trading volume is $84.15 billion.

Major Coins

1. BTC quotes show 8,548.64 USDT on Binance, $8,565.00 on Bitfinex and $8,550.58 on Coinbase Pro;

2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:
ETH marks $269.42 (+5.16%);
XRP marks $0.437 (+3.24%);
BCH marks $442.60 (+4.49%);
EOS marks $8.32 (+9.62%);
LTC marks $113.64 (+5.35%);
ETC marks $8.75 (+7.61%).

Todays Headlines
1. As the stablecoin wars continue to heat up, Bitfinex is looking to bring USDT to more blockchains, announcing that it will launch its stablecoin on EOS's blockchain. Currently, Tether is issued on the Omni Layer, Ethereum, and TRON. In the next couple of weeks, the company is also planning to issue USDT on Blockstream's federated sidechain Liquid.

But chief technology officer Paolo Ardoino told The Block that the firm has ambitions to bring the stablecoin to other blockchains, saying that it will launch the coin on Lightning Network sometime this year. 

2. United States-based blockchain intelligence firm Chainalysis claims that 64% of ransomware attack cash-out strategies involve the laundering of funds via cryptocurrency exchanges.
Hot In Asia

PeckShield: 9 Hacks In May, Costing Over $1 Mln
 

Citing data from PeckShield, a China-based blockchain security firm, within the past May, there are 9 hacks occurring on the TRON and EOS chains, with a cost of more than $1.01 million. The hacks are deciphered as follows
 

1. Two severe hacks targeting EOS private keys bagged 25,246 EOS;

2. Five rollback attacks on TRON DApps, but the loss is relatively small;

3. TronBankPro was found to keep a back-gate, and the third-party services provider TSC was thought to be the ringleader.
 

Q & A
Question: 

What is a lightweight node?

 
Answer:

A light Node does not download the complete blockchain. Instead, it downloads the block headers only to validate the authenticity of the transactions. Because of this reason light nodes are easy to maintain and run. Lightweight nodes use a method called Simрlifiеd рауmеnt vеrifiсаtiоn (SPV) to verify transactions.

Lightweight nodes are served by full nodes to connect to the Bitcoin network. They are effectively dependent on the full nodes to function.

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Disclaimer: CoinNess.com or anyone involved with CoinNess.com will not accept any liability for any trading loss or damage as a result of reliance on the information contained within this email including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.  CoinNess.com would like to remind you that the data contained in this email is neither necessarily real-time nor accurate. All crypto prices, Indexes, Futures, buy/sell Signals and Forex prices are indicative and not appropriate for trading purposes; furthermore they are not provided by an exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price. CoinNess.com doesn't bear any responsibility for any trading losses you might incur as a result of using this data. 

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