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Crypto Market Update (11 July 2018)

July 11, 2018

 

General Market Outlook

 

The market is now consolidating after falling back to this month’s low. Top 100 coins are split for the most part between recovery and continuing a downtrend. When the low was hit, volume rose, but has since declined. Power Ledger (POWR) and Ethos (ETHOS) are the major stand outs of the top 100 coins - both up about +9% in the past 24 hours. Bitcoin is right around $6,400 for just about no change and Ethereum is right at $445 for +1% in the past 24 hours. Market cap for the overall cryptocurrency market is actually up almost $2 billion from where it was 24 hours ago, totaling $255 billion total.

 

 

Major Headlines

 

Legitimate Crypto-Education Available Overseas

 

A full fledged university cryptocurrency certification course is now available at the London School of Economics and an Australian University. Some of the most prominent topics are “practical skills to interact with cryptocurrency exchanges,” and skills to “evaluate the analytics” of ICOs. The LSE has produced 36 world leaders, 18 Nobel Prize winners, and now one of the first prestigious crypto certifications: “Cryptocurrency Investment and Disruption.” The Australian university is researched focused. Their course is more geared toward blockchain: “Developing Blockchain Strategy.” However, the University of Malta will take it up several notches in October this year when they introduce an entire blockchain degree.

 

Cryptocurrency Market Falls Back to Month Lows

 

Bitcoin and most cryptocurrencies took a big hit yesterday, but market cap for the entire market is still around $20 billion more than the low in June. The market cap total is just about $250 billion, which is right around the same value as when the market began the insane rise to $830 billion in late November. So, although the volatility recently seems pretty extreme, if you take a look at a longer time frame, the prices have been more stable than they were over the winter. Off course at that time the direction was exponentially upward. When market movement is like that, the general term seems to becomes “growth” instead of volatility.

 

BitGo Cryptocurrency Custody Services Expands

 

BitGo’s entire business model is dedicated to streamlining the process of properly and safely handling cryptocurrencies for the individual or business. Their most important customers are institutional investors. These organizations are looking to invest, not just in Bitcoin and Ethereum. They are looking to diversify into many different options, but this can really get complicated with storage, regulatory and tax compliance, and the potential of air drop and hard forks. BitGo just added support for 57 ERC-20 tokens. For investors, this is also kind of successful test. BitGo has to analyze any coin they are going to handle to avoid dealing with a company or network they don’t trust.

 

 

Top 5 Gainers

 

Coupecoin (COUPE) +65.38% at $0.000064

Covesting (COV) +64.82% at $1.34

DeviantCoin (DEV) +57.96% at $1.69

Fantomcoin (FCN) +54.14% at $0.147770

United Traders Token (UTT) +31.66% at $0.472420

 

 

Top 5 Losers

 

Everus (EVR) -33.00% at $0.26481

Bitcurrency (BTCR) -31.67% at $0.001478

Swarm (SWM) -29.92% at $0.288364

Fort Seven Bank (FSBT) -25.00% at $0.452003

CoinMeet (MEET) -19.74% at $0.027594

 

 

New Coins Listed

 

OverPowerCoinX (OPCX) listed to Cryptopia

GameStars Token (GST) listed to Yobit

 

 

 

By: BGN Editorial Staff

 

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