Today In Cryptocurrency: Apple Bans Crypto Mining, South Korean Exchange Hacked

The cryptocurrency market got off to a rough start to the week on Monday after taking a huge hit on Sunday, with most major cryptocurrencies trading down more than 2 percent on the day. Here’s a look at some of the headlines that were moving the cryptocurrency market today — and which currencies were on the move.

Headlines

Cryptocurrency prices were under pressure on Monday after South Korean cryptocurrency exchange Coinrail halted trading and announced that hackers had stolen about 30 percent of the coins traded on its platform. Coinrail said in a statement it's cooperating with authorities in an attempt to recover the stolen currency.

In its updated developer guidelines, Apple Inc AAPL has explicitly banned cryptocurrency mining on iOS devices such as iPhones. Apple said apps which drain battery charge, generate excessive heat and or put unnecessary strain in devices are now forbidden. Investors may still use cryptocurrency wallet apps, cryptocurrency trading apps and apps that facilitate ICOs as long as they come from approved financial institutions.

After a three-year study, the Netherland central bank has concluded that blockchain technology cannot support the needs of a financial market infrastructure. The report said blockchain technology has inadequate capacity, consumes too much energy and has too much uncertainty when it comes to reliably verifying transactions.

Price Action

The Bitcoin Investment Trust GBTC traded at $11.69, down 8.0 percent.

Here’s how several top crypto investments fared Monday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours.

• Bitcoin declined 0.3 percent to $6,783;
• Ethereum declined 2.5 percent to $521;
• Ripple declined 1.9 percent to 58 cents;
• Bitcoin Cash declined 3.9 percent to $929;
• EOS declined 8.3 percent to $11.08.

The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are:

• Carboncoin: $1.9-million market cap, 83.5-percent gain.
• E-coin: $3.2-million market cap, 79.9-percent gain.
• Vsync: $1.7-million market cap, 60.7-percent gain.

The three cryptocurrencies hit hardest in the past 24 hours were:

• SmileyCoin: $1.2-million market cap, 30.2-percent decline.
• Anoncoin: $2.4-million market cap, 29-percent decline.
• Pure: $2.0-million market cap, 25.9-percent decline.

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