The State of the Market: Today, the crypto markets experienced a moderate decline — with the total market capitalization falling just $2 billion over the last 24 hours. Bitcoin (BTC) has likewise seen little fluctuation in price, remaining largely within the $6,300–6,400 range for a decrease of just under 1% on the day. Of the top ten coins, EOS is once again the biggest loser, shedding 4% of its value on the day to trade in the low $7s.
1) The Malta-based technology company Stasis has finally launched EURS, a stablecoin pegged to the value of the Euro. The project launch, which was attended by Prime Minister of Malta, was unveiled during an event at the Maltese Chamber of Commerce. The new stablecoin is yet another indication that Malta is quickly becoming a crypto hub after its parliament passed the DLT legislation which seeks to make the country a destination of crypto projects. EURS, which is linked with London-based DSX, has already been listed on HitBTC (read more).
2) The Kin Foundation, the cryptocurrency project backed by messaging giant Kik, has opened its doors for developers. Those interested in working with the foundation can apply for grants of up to $60,000, and buttress their projects with an array of product and marketing support from Kin. The program launch quickly effected the price of Kin (KIN), which gained a remarkable 3.85% on a day when most of the market was in the red (read more).
3) Despite Bitcoin’s (BTC) relatively flat price today, the flagship cryptocurrencies price skyrocketed on the Singapore-based World Exchange Services (WEX). The unusual price action, which saw BTC spike as high as $9000, or over $2,000 above the trading pair’s global average, caused many market observers to call fraud. The cause of this price disparity remains elusive, but some market observers have speculated that it could be indicative of USD insolvency at the exchange or even an exchange exit scam (read more).
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