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October 16, 2018

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Crypto Market Update (31 May 2018)

General Market Outlook


The market is continuing a strong uptrend from yesterday. Bitcoin price is sitting at $7,370 representing a loss of 1% in the last 24 hours. Ethereum price is sitting at $555 representing a loss of 0.7% in the last 24 hours. Several of the top 100 coins are up over 10%. The overall cryptocurrency market cap gained almost $12 million in the past 24 hours, moving from $321 billion to $332 billion. Tomorrow is the first day of June, a month that historically has shown yearly highs for almost the entire cryptocurrency market.


Major Headlines


Ripple CEO says BTC influence will end soon


CNBC’s “Power Launch” interviewed the CEO of Ripple, Brad Garlinghouse. The show focuses on breaking news, “up-to-the-instant” stock updates and all important information regarding the economy, the markets, real estate, media and technology. The topic was BTC vs. XRP, and their relationship to the cryptocurrency market as a whole. Traditionally, all altcoins have basically followed BTC. This is because the primary entry to purchasing any other coin had always been BTC. However, this is beginning to change, and the technology is developing a huge new scope. Companies like Consensys are focused on building platforms on the Ethereum platform. ETH can be purchased directly with fiat in most countries. XRP has been performing very poorly this year.


Tradeshift gets $250 million boost to develop blockchain


Tradeshift is a cloud-based supply chain company, founded in Copenhagen in 2010. Yesterday the company completed a Series E round of funding, with Goldman Sachs among its major contributors. It totalled $250 million, more than doubling their investment total to over $400 million. They identified key areas for growth in blockchain and artificial intelligence, which it will pursue with its existing Frontiers innovation lab that was launched in January this year. CEO and co-founder Christian Lanng: “This investment will enable us to continue our rapid growth and consolidate our leadership position. We welcome Goldman Sachs and PSP Investments as our newest investors and look forward to their valuable contributions as we enter our next growth phase.”


Largest Polish exchange BitBay moves to Malta


The Polish government is no longer cooperative with cryptocurrency exchanges, and so the country’s largest one, BitBay will become the 3rd exchange this year to move to Malta. The Maltese government has been extremely welcoming to cryptocurrencies, even encouraging to new business developments using blockchain technology and the currencies. The other two exchanges to relocate were Binance and OKEX. After May 31, the Polish language will no longer be an option for user accounts however the functions of the exchange will be active. After September 17, users will only be able to withdraw funds and no longer exchange their cryptocurrencies. Once operations are good to go in Malta, the exchange will restart as if new, but the domain name and trademark will stay the same.



Top 5 Gainers


Titanium Blockchain (BAR) +196.09% at $0.007460

Arbitracoin (ATC) +136.63% at $0.030229

Authorship (ATS) +118.96% at $0.012031

Storiqa (STQ) +81.60% at $0.015227

Kubera Coin (KBR) +75.21% at $0.005391



Top 5 Losers


Bastonet (BSN) -48.04% at $0.000076

ExchangeN (EXN) -35.27% at $0.007557

Titanium Bar (TBAR) -35.01% at $0.024305

Linker Coin (LNC) -32.76% at $0.052145

Indicoin (INDI) -32.06% at $0.028717



New Coins Listed


BABB (BAX) listed to KuCoin

DADI (DADI) listed to Ethfinex

Lympo (LYM) listed to Ethfinex

UTRUST (UTK) listed to Ethfinex

Blockv (VEE) listed to Ethfinex





By: BGN Editorial Staff

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