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Crypto Market Update (18 July 2018)

July 18, 2018

 

General Market Outlook

 

The market is consolidating after a sharp rise and continued hours of growth. Nearly all coins are in the green and trading volume is rising strongly by $5 billion to a $21 billion 24 volume. Ardor (ARDR) is the biggest stand out of the top 100 coins, up about 43% in the past 24 hours, while Dogecoin (DOGE) and Stellar (XLM) are both up over 31%. Dozens of top 100 coins have risen more than 10%. Bitcoin is right around $7,400 for almost +10% change and 43.1% market dominance, while Ethereum is just short of $500 for +4% change in the past 24 hours. Market cap for the overall cryptocurrency market shot up over $23 billion and then steadily grew by $5 billion more to just about $296 billion total.

 

Major Headlines

 

Bitcoin Payments related to U.S. Election Hack

 

It is a common misconception that Bitcoin is anonymous. 12 Russian intelligence officers were charged for hacking DNC emails during the 2016 U.S. The Defendants laundered the equivalent of more than $95,000 through a series of transactions structured mimic anonymity. However, Bitcoin is founded on a fully transparent ledger to track all transactions. Bitcoins were obtained through mining, and prepaid cards. They also enlisted the assistance of one or more third-party exchangers who facilitated whose usernames helped shield identity, but could not hide the truth. The Bitcoin was used to pay for domain names, servers and other expenses.

 

FSC Hearing on Cryptocurrency Tomorrow

 

The Financial Services Committee in the United State will hold a hearing tomorrow (Wednesday

July 18, 2018) amongst their more particular Subcommittee on Monetary Policy and Trade: The Future of Money: Digital Currency” ...will examine the extent to which the United States government should consider cryptocurrencies as money and the potential domestic and global uses... evaluate the merits of any uses by central banks of cryptocurrencies, and discuss the future of both cryptocurrencies and physical cash. The witnesses will serve as the panel:

• Dr. Rodney J. Garratt, Maxwell C. and Mary Pellish Chair, Professor of Economics,

University of California Santa Barbara

• Dr. Norbert J. Michel, Director, Center for Data Analysis, The Heritage Foundation

• Dr. Eswar S. Prasad, Senior Fellow, The Brookings Institution

• Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute

 

IBM Developing Stablecoin

 

IBM already uses the technology from Stellar (XLM) for internal payment processing. However, the company now announced it will partner with Stronghold USD “to experiment with ways for financial institutions and other organizations to achieve faster, safer and more efficient transaction processing and money transfer throughout the world’s economy.”

 

 

Top 5 Gainers

 

Jiyo (JIYO) +119.33% at $0.186060

Proxeus (XES) +74.08% at $0.060008

Ardor (ARDR) +43.47% at $0.235781

Bitcoin Green (BITG) +39.68% at $3.59

Blue Protocol (BLUE) +38.10% at $0.109797

 

 

Top 5 Losers

 

Cashcoin (CASH) -36.14% at $0.007923

Transcodium (TNS) -25.99% at $0.007451

Ivy (IVY) -19.16% at $0.035441

Earth Token (EARTH) -17.33% at $0.002708

Everipedia (IQ) -15.51% at $0.046322

 

 

New Coins Listed

 

Loom Network (LOOM) listed to Bittrex

Bankera (BNK) listed to SpectroCoin

 

 

 

By: BGN Editorial Staff

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