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Crypto Market Update (11 June 2018)

June 11, 2018

General Market Outlook

 

The market took a large plunge on Sunday with most coins dropping between 5% and 15%. Most altcoins has since stopped the decline, but trading volume continues to fall. Veritaseum (VERI) is the only minor standout of the top 100 coins - up about +10% in the past 24 hours. Bitcoin is right around $6,750 for about -7% change and Ethereum is right at $525 for -8% change in the past 24 hours. Market cap for the overall cryptocurrency market lost over $40 billion coming down to $293 billion total.

 

 

Major Headlines

 

New AngelList platform could legitimize ICOs

 

Startup platform AngelList is building a new crowd-equity segment into their business model that could help legitimize the ICO game by providing a curated selection and providing real equity, instead of just tokens. Prior to this AngelList was focused on sourcing talent and angel investors for startups. Their new platform “Republic” will actually hold true to the name - token incentives within the platform will be given for active participation, and power will be held by the masses not majority stake investors. Binance was one of the major contributors of $12 million in commitments received presale. Once launched the platform will provide a curated group of ICO offerings where investors will have the option put up to 20 percent of their investment in equity.

 

John Hyland sees a future beyond Bitcoin futures

 

Head of cryptocurrency fund Bitwise expects that the SEC will soon figure out regulation for trading Bitcoin itself, not just Bitcoin futures. Bitcoin futures have been available for trading since late 2017, but this avoids putting investors in possession of the actual coins, and is less efficient than would be trading Bitcoin directly like a commodity. John Hyland helped bring the first oil and commodity ETFs to market when he was CIO of United States Commodity Funds, and now expects that Bitcoin ETFs will most likely be available by 2019. It’s possible that having confirmed one cryptocurrency to be traded, the floodgates could open to full blown, legitimized crypto-stock market.

 

Women’s interest in cryptocurrencies is increasing

 

The tech industry has been a poster child for the results of gender inequalities, and the blockchain crypto space has been almost worse. Major UK crypto exchange London Block Exchange put together some data on the trends. Although women are still vastly underrepresented, it’s changing: 13% now say they would possibly decide to invest in cryptocurrencies, up from just 6% at the end of 2017 -  And do women have more patience to be better investors? The data says yes: 1. women were found to be 50% less likely to suffer from FOMO than men 2. women are twice as likely to ask for advice from friends and family before investing, whereas men prefer to decide just by themselves.

 

 

Top 5 Gainers

 

Harvest Masternode Coin (HC) +32.97% at $0.087149

Yocoin (YOC) +32.84% at $0.031321

Cashaa (CAS) +30.06% at $0.49836

Proxeus (XES) +25.04% at $0.098968

BoutsPro (BOUTS) +14.43% at $0.013149

 

 

Top 5 Losers

 

Kubera Coin (KBR) -39.27% at $0.002063

FairGame (FAIR) -32.63% at $0.019335

Nullex (NLX) -32.09% at $0.041121

CVCoin (CVCOIN) -30.23% at $0.718993

Bodhi (BOT) -26.59% at $0.469109

 

 

New Coins Listed

 

ZestCoin (ZEST) listed to Cryptopia

Sensus (SENX) listed to Stocks.Exchange

Kashcoin (KAC) listed to Stocks.Exchange

Siacoin (SC) listed to OKEx

 

 

 

By: BGN Editorial Staff

 

 

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