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October 16, 2018

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Crypto Market Update (05 July 2018)


General Market Outlook


The market is now consolidating after the surge over the past few days. Nearly all coins are down from their highs slightly, trading volume is holding. Gas (GAS) and Cortex (CTXC) are the major stand outs of the top 100 coins - up over 12% and 10% respectively in the past 24 hours. Bitcoin is right around $6,700 for about -1% change and Ethereum is right at $475 for roughly no change in the past 24 hours. Market cap for the overall cryptocurrency market is down about $3 billion to $272 billion total.



Major Headlines


Microsoft Azure Adoption In Taiwan


Microsoft Taiwan is not partnered with Digital China and Hot Cool to use blockchain technology to improve the financial, e-commerce, entertainment, and other industries. The Azure Blockchain Workbench gives blockchain developers a pre-built network and infrastructure. The general manager of Microsoft Taiwan, explained that he believes Microsoft Azure can improve the computing speed and security of Digital China’s digital blockchain services: “Taiwan has first-class engineering and technical talents, and… it carries a solid manufacturing and R&D foundation, plus Excellent geographical location, with the superior conditions for the development of blockchain application.”


“Joint Chiefs of Global Tax Enforcement (J5)”


The US Internal Revenue Service (IRS) is launching a join effort of authorities from the UK, Canada, and Australia to “reduce the growing threat” of tax fraud related to cryptocurrencies worldwide. Members are the American Internal Revenue Service Criminal Investigation (IRS-CI), the Australian Criminal Intelligence Commission (ACIC), the Australian Taxation Office (ATO), Canada’s Revenue Agency (CRA), Netherland’s Fiscale Inlichtingen- en Opsporingsdienst (FIOD), and the UK’s HM Revenue & Customs (HMRC).


“...organized criminals and tax cheats manipulate the system and exploit vulnerabilities for their personal gain. The J5 aims to break down those walls, build upon individual best practices, and become an operational group that is forward-thinking and can pressurize the global criminal community in ways we could not achieve on our own.”


Switzerland May Keep Up With Malta


Recently Malta passed a series of legislation that created legal certainty for cryptocurrency and related businesses. Switzerland has traditionally had one city as a hub for cryptocurrency, but this may soon spread. Their major banks had previously denied accounts to cryptocurrency related businesses as well. Earlier this year, Johann Schneider-Ammann, economics minister, said Switzerland wanted to become the “crypto nation.” Switzerland’s central bank, financial supervisor and federal government “are willing to help.”




Top 5 Gainers


Sakura Bloom (SKB) +77.88% at $0.011550

Dorado (DOR) +59.10% at $0.027548

Primas (PST) +36.68% at $0.470515

AI Doctor (AIDOC) +32.43% at $0.026796

GoChain (GO) +28.41% at $0.056031



Top 5 Losers


ATMChain (ATM) -35.36% at $0.001063

Ethos (ETHOS) -29.01% at $1.94

Qube (QUBE) -26.13% at $0.011543

Syscoin (SYS) -23.66% at $0.191436

ARbit (ARB) -23.45% at $0.003036



New Coins Listed


BCSHop.io (BCS) listed to Cryptopia

Project PAI (PAI) listed to Bitfinex

PIVX (PIVX) listed to Coinbe

Bytecoin (BCN) listed to OKEx

Mainframe (MFT) listed to Binance





By: BGN Editorial Staff

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