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October 16, 2018

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Crypto Market Update (25 April 2018)

April 25, 2018

General Market Outlook

 

The market is correcting after a three day surge for Bitcoin (BTC) and altcoins. The massive gains made by Altcoins signify a reduction in BTC market dominance. Possibilities are that investors are now more educated to the fact that Altcoins make higher percentage growths than BTC, or that investments are being made based on technology and the potential of a working product, rather than just speculation. EOS stands out as a top coin that made large enough gains to stay in the green today.

 

 

Major Headlines

 

20% of Institutional Investors Have Plans for Cryptocurrency 

 

A Thomas Reuters survey of 400 institutional investors shows that 15% have plans to enter cryptocurrencies within 6 months and another 5% will do so within 1 year. Even if this does not seem like a relevant number - it’s much more relevant than zero. The cryptocurrency market overall is still very small - around $430 Billion compared to Amazon at $700 Billion or Apple at $830 Billion. It was only last year that the CEO of JP Morgan called Bitcoin a “fraud.”

 

 

Blockchain and Government Debate at MIT

 

The Business of Blockchain conference at the Massachusetts Institute of Technology (MIT) facilitated an academic conversation between blockchain and government leaders. The biggest impact is the potential of Ethereum and XRP to be classified as assets. Bitcoin is safe, because it is truly decentralized. It offered no promise of profit - literally has no operational entity to do so. Other companies have done “airdrops” to avoid filling SEC asset criteria, but this blurs KYC laws. The struggle for definitive language is indicative of revolutionary concepts. Would original regulations be too much to ask for?

 

 

Walmart’s Food Chain Goes Blockchain 

 

A real, physical, quantifiable application of blockchain technology Walmart developed with IBM will be used to track food and compile data from eventual use of “smart packages.” Their current process takes 6 days… new method is 2 seconds, automated and provides real-time data. The second major benefit will reduce work load of tracking expiration dates and reducing customer complaints. The blockchain storage system can be used to pinpoint the journey of food items to the consumer. Last month Walmart patented a design for “smart package,” including climate control to prevent produce decay and a physical design that integrates drone transport

 

 

 

Top 5 Gainers

 

Galactrum (ORE) +109.65% at $1.63

Monero Original (XMO)  +93.32% at $10.71

FedoraCoin (TIPS)  +76.36% at $0.000035

Litecoin Plus (LCP)  +68.75% at $0.655851

Monero Classic (XMC)  +68.75% at $11.63

 

 

Top 5 Losers

 

XinFin Network (XDCE)  -39.70% at $0.005236

Super Exchange (SGR)  -35.83% at $0.130238

GPU Coin (GPU)  -34.14% at $0.038773

Dero (DERO)  -32.96% at $1.83

Karma (KRM)  -32.58% at $0.009222

 

 

New Coins Listed

 

BitDegree (BDG) listed to WandX

 

Celsius Network (CEL) listed to IDEX

 

CyberVein (CVT) listed to Bit-Z

TapCoin (TTT)

 

Dock.io (DOCK) listed to KuCoin

 

Hydro (HYDRO) listed to CoinEx

 

SyncFab (MFG) listed to Cobinhood

 

Steem (STEEM) listed to Huobi Pro

 

 

 

By: BGN Editorial Staff

 

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