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October 16, 2018

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Crypto Market Update (04 May 2018)

General Market Outlook

 

The majority of top 100 market cap coins are in the red today, but overall the cryptocurrency market cap total has climbed throughout the week. Bitcoin and Ethereum are both up, but modestly between 2% and 3%. The social media platform Loom Network (LOOM) continues rising though - over 10% up in the past 24 hours.

 

 

Major Headlines

 

CalTech putting 15 years of cell structure research to the blockchain

 

The internet is known as the “information superhighway,” but filtering this information, and manipulation of the root information has become a huge problem. Many times primary source data is available online, but at a cost. In science, research and educational fields, this simply shouldn’t be the case. CalTech is making 15 years worth of electron tomography data truly public. One of the hot topics in blockchain is distributed or shared computing, allowing for greater access to supercomputing, and reducing waste. However, million dollar electron microscopes can’t be put on the blockchain. CalTech is using Open Index Protocol to store cell structures and viruses data in a way that keeps it public, distributed on the FLO Blockchain. FLO is also home to a blockchain version of youtube - Alexandria.

 

 

Square quietly added Bitcoin

 

Square is one of the world’s largest payment processors. In their first quarter of dealing Bitcoins, they processed $34 million worth. Not much, but this transition has to start somewhere. In comparison to their fiat payments, Bitcoin was a drop in the bucket. In comparison to a payment processor like Paypal, Square is a drop in the bucket ($65 billion vs. $500 billion). But obviously a change-over to cryptocurrencies isn’t going to happen over night. Square was able to test the waters, quantifying things for other businesses to work off of. If Bitcoin payments follow the growth of all other payments with square, that total could double by Q4 2018.

 

 

Telegram closes fund raising after only 200 investors and 1.7 Billion

 

Telegram is a cloud based instant messaging app founded in Russia in 2014. It has 200 million active users. They were going to do a public ICO, but with an an verage investment of 8.5 million, the company was able to beat out their entire ICO goal for 1.5 billion. ICO has been the buzz-acronym lately. Cryptocurrencies would be really nice additions for social media applications. A telegram coin would basically be like Snapchat doing an ICO (158 million users). Telegram is especially popular in the blockchain space - it’s like global AOL Instant Messenger for the blockchain space. By skipping the ICO Telegram foregoes all the mess legal implications that government regulators are trying to sort out right now.

 

 

 

Top 5 Gainers

 

Cyrptonite (XCN) +117.87% at $0.004165

LePen (LEPEN) +103.04% at $0.000192

Bloom (BLT) +99.07% at $1.28

Veros (VRS) +68.49% at $0.118458

True Chain (TRUE) +54.50% at $2.77

 

 

Top 5 Losers

 

Lightning Bitcoin (LBTC) -% at $38.91

Bitcoin Dark (BTCD) -% at $127.80

Bitdeal (BDL) -% at $0.007833

ATBCoin (ATB) -% at $0.2542720.014321

Helbiz (HBZ) -% at $0.014321

 

 

New Coins Listed

 

Amon (AMN) listed to Cryptopia

Bitbay (BAY) listed to CryptoBridge

Bitcoin Private (BTCP) listed to BitBTC

IOTA (IOTA) listed to Cobinhood

 

 

 

By: BGN Editorial Staff

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