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Crypto Market Update (13 August 2018)

August 13, 2018


General Market Outlook


The market continues to waver around similar prices to the end of last week. Most coins 24 hour prices are down today, and trading volume was rising until a recent drop to the same rate of 24 hours ago - $12 billion in 24 hours. Peercoin (PPC) is the major stand out of the top 100 coins by market cap - up over 12% in the past 24 hours, with Waves (WAVES), Dentacoin (DENT) and Loopring (LRC) all up around 7% as well. Bitcoin (BTC) is right around  $6,300 for -0.5% and a total market dominance of about 51.7%, and Ethereum (ETH) is right at $300 for 6.5% change in the past 24 hours. 



Major Headlines


Accessible Passive Income with Honeyminer


Mining cryptocurrencies is dominated by several mining pools, such as Bitmain and Antpool. The individuals or organizations that have invested in most effective mining hardware have simply outpowered the average person, making it useless for most people to run mining software. However, A new mining platform for individuals is providing a way to take in a small passive income with standard computers. The pltaform compatible with almost 10,000 graphics cards, allowing almost anyone to mine from their personal computer. For example, a gaming computer could earn 4 to 5 dollars a day. Mining requires near full capacity at all times, but the profits still outweigh the energy cost. Many Honeyminer users are coming from india, where median income is less than $1,700 per year. A few old computers could potentially double an individual’s yearly income.


Congressman Releases Crypto-holdings Statement


Congress is required to file an annual financial disclosure that now includes reporting cryptocurrency holdings. The change was made in May with a ruling form House Ethics Committee. The first disclosure that lists cryptocurrencies has been posted by Bob Goodlatte with a value as high as $80,000. Bob Goodlatte is a member of Congress and the chair of the House Judiciary Committee. He is also a founding member of the Congressional Blockchain Caucus, along with Jared Polis.


China Implements Blockchain For Taxes


A city in China is now using WeChat and a blockchain based system to drasticly increase efficiency of government invoicing. The process reduces friction and redundancies of tax invoices from businesses to the government after consumer sales. This is especially notable because the Chinese government would not use the technology if there was any chance of security breaches. It also highlights an innovative approach in collaboration with a social media app. WeChat is similar the Facebook Messenger app - both social media and texting. However, WeChat also has payment integration, similar to Venmo. The new process uses the payment service in WeChat to connect payment history to the blockchain ledger of invoices and payment confirmations that the government needs for tax purposes.



Top 5 Gainers


Auctus (AUC) +82.80% at $0.079351

InterCore (ICR) +42.60% at $0.718648

Volt (ACDC) +39.10% at $0.001886

DACSEE (DACS) +37.60% at $0.013597

FlorinCoin (FLO) +36.08% at $0.064636



Top 5 Losers


PolicyPal Network (PAL) -40.43% at $0.003561

EPLUS Coin (EPLUS) -39.17% at $2.12

Webcoin (WEB) -31.45% at $0.008999

Acute Angle Cloud (ACC) -26.48% at $0.018405

Amon (AMN) -26.37% at $0.001764



New Coins Listed


Unibright (UBT) listed to Cryptopia

0x (ZRX) listed to BitPanda




By: BGN Editorial Staff

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