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Crypto Market Update (27 June 2018)

June 27, 2018

 

General Market Outlook

 

The market is consolidating after a tumultuous past couple weeks. Around 25 of the top 100 coins are in the positive for the past 24 hours, and trading volume is climbing a bit. Nebulas (NAS) and Monaco (MCO) are the major stand outs of the top 100 coins - both up around 12% in the past 24 hours. Bitcoin is right around $6,200 for roughly no change and Ethereum is right at $435 for -2% change in the past 24 hours. Market cap for the overall cryptocurrency market has had almost no change, resting around $247 billion total.

 

 

Major Headlines

 

Robinhood Looking For Help Expand Cryptocurrency Service

 

A job posting for a “Crypto Engineer” revealed plans Robinhood has to expand the capabilities of their cryptocurrency investment service.As is, using Robinhood to invest in cryptocurrencies is exactly that. Users do not actually own the coins, or have any type of “wallet” to use them as currencies. The job posting describes requirements for creating a cryptocurrency wallet, which would allow investors to transfer coins they own already onto the Robinhood platform. Users would otherwise have to sell their coins for fiat and repurchase. This positions Robinhood to compete with Coinbase.

 

Facebook Lifts Cryptocurrency Ad Ban

 

Facebook will be revamping their January advertisement policy that banned all cryptocurrency related promotions. The press release defines that the new policy will allow "cryptocurrency and related content from pre-approved advertisers," but will continue blocking “binary options and initial coin offerings.” Those looking to place ads will have to submit an application with information regarding any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business. Will it be worth it? Facebook provides a platform to reach a consistently growing user base that is now well over 2 billion.

 

New Gaming Token From Enji Coin

 

Enji Coin (ENJ) was founded in 2009 to work the benefits of blockchain and cryptocurrencies in gaming. Co-founder and CTO Witek Radomsk has now developed the ERC-1155 token, which dramatically improves functionality of a gaming token on the Ethereum Blockchain. He had previously made the ERC-721 token, which allowed users to create unique, one-of-a-kind coins to represent unique, video game base items or goods. Using a token such as this allows users to trade items that exist in different games on universal marketplaces. The ERC-1155 combines the best of both ERC-20 and ERC-721. With ERC-20, each token is identical. These gaming tokens provide the ability to add a provenance, history or identity. The newest token reduces congestion and gas costs on the Ethereum blockchain.

 

 

Top 5 Gainers

 

Spindle (SPD) +54.79% at $0.013412

MicroMoney (AMM) +48.16% at $0.132787

Experience Points (XP) +32.28% at $0.000105

Paragon (PRG) +27.11% at $0.107167

Karma (KRM) +26.69% at $0.008639

 

 

Top 5 Losers

 

PeepCoin (PCN) -81.56% at $0.000125

Republic Protocol (REN) -34.31% at $0.039986

U.Cash (UCASH) -33.36% at $0.003360

LIFE (LIFE) -32.58% at $0.000109

CryptoPing (PING) -30.13% at $0.142506

 

 

New Coins Listed

 

GazeCoin (GZE) listed to Cryptopia

Energi (NRG) listed to Cryptopia

Shivers (SHVR) listed to Cryptopia

Quanta (QNTU) listed to Hit BTC

Vsync Blockchain (VSX) listed to CryptoBridge

 

 

 

By: BGN Editorial Staff

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