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Crypto Market Update (29 August 2018)

August 29, 2018

 

General Market Outlook

 

The market continues is now consolidating after a few days of steady uptrending. Coins in the top 100 are split between green and red, with trading volume remaining around $13 billion in 24 hours. Decentraland (MANA), EOS (EOS)  and Metaverse (ETP) are the major stand outs of the top 100 coins by market cap - up over 15%, 12% and 11% respectively in the past 24 hours. Bitcoin (BTC) is right around  $7,000 for about no change and a total market dominance of about 52.8%, and Ethereum (ETH) is right at $290 for no significant change in the past 24 hours. Market cap for the overall cryptocurrency market ? over $? billion doin to $??? billion total.

 

 

Major Headlines

 

New Institutional Crypto Index Fund Coming

 

Morgan Creek Digital and Bitwise are collaborating to launch a new index geared towards institutional investors looking to enter the digital asset market. Bitwise created the first pubicly offered cryptocurrency index fund called HOLD 10, and currently has a proposal submitted to the SEC turned that index into a registered ETF. The new Digital Asset Index Fund will also off the top 10 largest digital assets weighted by market capitalization, but at a different ratio than their previous products. Bitwise manages the fund itself. " Mark Yusko (CEO) and Morgan Creek have spent more than a decade working with institutional clients and earning their trust. Having a firm like them partnering with investors who want to explore and get exposure to the crypto space is a huge step in making it more accessible to institutions." - Bitwise CEO Hunter Horsley

 

Coinbase Study Finds College Student Crypto Interest

 

Coinbase has released the results from a nationwide survey of 675 students. 21 of the top 50 U.S. universities (as ranked by U.S. News and World Report) now offer a class on blockchain technology or cryptocurrency. 11 offer more than one. 18% of respondents overall said they own some cryptocurrency. 34% of computer science and engineering majors and 47% of social science majors indicated interest in learning about blockchain and cryptocurrency. "There's a huge demand out there, especially in the design space, for people that have the skills that we train anthropologists with, understanding the human side of technology," says Bill Maurer, the dean of the School of Social Sciences at the University of California Irvine.

 

200+ Cryptocurrency Investigations in North America

 

The North American Securities Administrators Association (NASAA) stated they are engaged in more than 200 active investigations by state or provincial-level agencies. The investigations are primarily concerned with ICOs, but also  and other crypto-related investment products. NASAA is composed of securities regulators from the U.S., Canada, Puerto Rico, the U.S. Virgin Islands and Mexico. 47 different enforcement actions have been completed over the past few months. Violations have primarily been related to securities fraud and to startups failing to properly register their products prior to offering access to investors.

 

 

Top 5 Gainers

 

Sakura Bloom (SKB) +108.11% at $0.010431

Noah Coin (NOAH) +87.59% at $0.002342

StarCoin (KST) +82.55% at $0.014496

RRCoin (RRC) +38.30% at $0.021376

CyberFM (CYFM) +35.87% at $0.000041

 

 

Top 5 Losers

 

Arbidex (ABX) -33.80% at $0.035827

HeroNode (HER) -30.33% at $0.002145

SIX Domain Chain (SDA) -30.02% at $0.010489

Tokia (TkA) -29.23% at $0.026754

ORS Group (ORS) -26.78% at $0.032264

 

 

New Coins Listed

 

CyberMiles (CMT) listed to Bithumb

GoChain (GO) listed to Bittrex

 

 

 

By: BGN Editorial Staff

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