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Ethereum (ETH), TRON (TRX), and IOTA (MIOTA) Lose Big

The crypto market has been taking quite a beating these past 36 hours. Bitcoin (BTC) is currently trading around the $6,000 mark and currently holds 54% of the total market dominance. Many of the altcoins are suffering, especially Ethereum (ETH). We’ll also take a closer look at TRON (TRX) and IOTA (MIOTA), two other altcoins on the market that are currently suffering big.

Ethereum (ETH) News

Yesterday, the second largest cryptocurrency by market cap fell to its year-low of under $300. According to CoinMarketCap, ETH is trading at $261.46 a coin, down -15.01% in 24 hours.

The last time Ethereum traded at these levels was back in November of 2017. It remains unknown if investor confidence has fallen with Ethereum specifically or if it’s just an overall crypto sell-off.

Ethereum developers are frantically trying to come up with a solution to solve Ethereum’s scalability issue, and presently, there are many options on the table.

TRON (TRX) News

Despite having its mainnet launched and running smoothly, TRON has fallen to the 12th largest cryptocurrency by its market cap just behind IOTA. This week, TRON has been passed by Monero (XMR) as well as IOTA.

There hasn’t been a specific instance that has caused TRX to drop, as its mainnet has been running fairly steady.

At press time, TRX is trading at $0.0175 a coin, down -19.55% in 24 hours. For the week, TRX is down -41.07%, and for the month, the coin is down -47.60%.

>> IOTA Founders Brawl

IOTA (MIOTA) News

IOTA had a shaky week last week, as two of its co-founders engaged in an altercation that was made public. After the transcript was leaked to the press, IOTA made a formal announcement about the altercation and how they eventually resolved the conflict.

Despite the IOTA Foundation giving a formal explanation, it seems investors aren’t too confident in the young leaders. However, MIOTA’s dip could very well be just a market trend.

At press time, MIOTA is trading at $0.424 a coin, down -18.73% in 24 hours. IOTA is ahead of TRON as the 11th largest cryptocurrency by just over $50 million.

Featured Image: Depositphotos/© dennizn

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IOTA News | Heated Discussion Between IOTA (MIOTA) Founders Leaked

In the latest IOTA news, the IOTA Foundation has just received some bad press as a heated discussion between the founders of the project and their board of directors was leaked to the press.

IOTA News: Leaked Chat-Log Transcript

Sergey Ivancheglo, co-founder of IOTA, started out the chat-log by stating that he doesn’t have any confidence in his partner Dominik Schiener. You can see how it all unfolds in the leaked chat above.

“I inform everyone that I [no] longer trust Dominik Schiener and I think he should quit the IOTA Foundation for the better future of IOTA,” Ivancheglo said to start off the chat.

It remains unclear why the co-founder expressed his concern for his partner, and it does not say further in the chat-log transcript. However, the rest of the log goes into long detail about how Ivancheglo plans on removing Schiener from the project.

Shiener responded and said that he would not be going down without a fight.

“Good luck,” Sheiner commented in the leaked chats. “IOTA AS will have some serious legal issues with the advisor tokens and the impending tax audit. I am done with this. I am done with being threatened. [T]his is the course of action that both of you want to take, then I’m all for it. [I]f you want to be enemies, lets [sic] fight.”

IOTA Foundation Formally Responds

It seems that this conversation among the heads of IOTA was never supposed to make it to the public, but the IOTA Foundation has decided to formally address the transcribed heated conversation log.

The update on the matter was released today and clarifies the Foundation’s stance and gives a bit of background on the matter.

The updated announcement starts off by saying:

“The IOTA Foundation is a young institution. Our team has grown from a handful of members to almost one hundred in less than a year. We are a very well-funded startup at the intersection of one of the most innovative areas of technology and a sometimes toxic market. As we are just learning to walk, while fostering prominent corporate and social partnerships, our exposure to the global spotlight has forced us to quickly learn to communicate like a publicly listed company.”

It remains unknown where the leaked document came from at this time, but it seems that the Foundation has figured out the solution. The statement suggests that Ivancheglo’s outburst was nothing more than an emotional response and the Foundation’s final decision on the matter will be made by August 10th.

What did you think about this tidbit of IOTA news? Let us know in the comments below.

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Bitpanda Adds IOTA – A Light in the Dark Following Coinrail Hack

Bitpanda adds IOTA: All incidences of hacking are unfortunate, but some more so than others. On the weekend of June 9th, Coinrail, a South Korean crypto exchange, was hacked. The Coinrail hack was so severe that all of the top 10 coins on the market are plunging today. Some coins are down because of it, and in reality, they should be celebrating.

Take IOTA, for instance. This virtual currency has some exciting news, but it’s going unnoticed because the masses are primarily focused on the aftermath of the Coinrail hack. 

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