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Crypto Market Update (09 August 2018)

August 9, 2018


General Market Outlook


The market continues to move downward but not as severely as yesterday. Most coins are still in the red and trading volume has now slowed to $13 Billion in 24 hours. ChainLink (LINK) is the major stand out of the top 100 coins by market cap - up almost 23% in the past 24 hours, but Metaverse (ETP) is also performing well in the down market - up over 12% in the past 24 hours. Bitcoin (BTC) is right around  $6,500 for +1% and a total market dominance of 48.9%, and Ethereum (ETH) is right at $365 for +0.5% change in the past 24 hours. Market cap for the overall cryptocurrency market has recently recovered from a drop and around the same $229 billion total.



Major Headlines


New Fiat Pairs Coming To Bittrex


The exchange currently supports deposits for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and TrueUSD (TUSD). The company also plans to further expand fiat pairs. “In addition to broader acceptance, expanding fiat markets to the top digital currencies on our trading platform will help limit the dominance and influence of any one token over other blockchain projects – a necessary evolution if we’re going to unleash blockchain’s potential benefits for consumers and businesses.” A greater diversity available in this way could affect Bitcoin’s dominance of the cryptocurrency market, as in most cases it is the only “on-ramp” into the market.


2018 ICO Investment Up Again


A detailed report by ICORating.com shows major positive trends so far this year related to ICOs. The funding rounds have raised over $11 billion this year already. Through the first half of 2017, ICOs raised only just over $1 billion. In the second quarter this year alone, 827 projects raised over $8 billion in funding. North America has participated in ICOs with the highest investment total, accounting for 64.67% of funding. However of the 827 projects, 46% have been launched out of European countries, which is likely due to the more accommodated laws in countries such a Malta and Switzerland. The European Union has been well ahead of the U.S. in researching and creating regulation for the cryptocurrency markets overall.


MetaMask Hardware Wallet Integration


Hardware wallets are the most secure way to store your cryptocurrencies. Ledger and Trezor are the to more prominent brands. This week the popular web wallet MetaMask announced the Trezor is now supported by their wallet. This means that the web wallet has access to the hardware wallet, but maintains its security. This is made possible by a virtual version of the users hardware wallet being an intermediary so that true access to the hardware wallet remains unconnected from the internet except in the instant that transactions are made. Users can check their account balance, sign transactions, and use blockchain apps without compromising their coins security.


Top 5 Gainers


Ethorse (HORSE) +123.61% at $0.035016

PKG Token (PKG) +88.94% at $0.000033

Patron (PAT) +62.62% at $0.019851

Super Bitcoin (SBTC) +47.16% at $4.44

Bitcoin File (BIFI) +37.12% at $0.010965



Top 5 Losers


SRCoin (SRCOIN) -47.06% at $0.003757

BrokerNekoNetwork (BNN) -42.48% at $0.000065

Bodhi (BOT) -36.58% at $0.083845

XOVBank (XOV) -28.73% at $0.004738

MyBit Token (MYB) -26.68% at $0.024641



New Coins Listed


The Abyss (ABYSS) listed to Bittrex

Stellar Lumens (XLM) listed to Bitpanda

The Abyss (ABYSS) listed to Ethfinex

BlockPass (PASS) listed to Ethfinex

Matrix AI Network (MAN) listed to Ethfinex

Engagement Token (ENGT) listed to HitBTC

HuobiToken (HT) listed to Yobit

Nexo (NEXO) listed to Yobit

Model X (MODX) listed to Yobit

Aurora (AOA) listed to Yobit




By: BGN Editorial Staff

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