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Crypto Market Update (30 August 2018)

August 30, 2018

 

General Market Outlook

 

The market is now slumping for the most part. Nearly all coins are in the red and trading volume is holding right around $13 billion in 24 hours. Dogecoin (DOGE), Noah Coin (NOAH) and Nuls (NULS) are the major stand outs of the top 100 coins by market cap - up over 19%, 12% and 12% respectively in the past 24 hours. Bitcoin (BTC) is just about $6,900 for -2.5% and a total market dominance of about 53.3%, and Ethereum (ETH) is right at $280 for -4% change in the past 24 hours. Market cap for the overall cryptocurrency market has steadily lost about $7 billion, dropping to $223 billion total.

 

 

Major Headlines

 

Ethereum To be Used by Moscow Government

 

As part of a system for allotting trading spots during weekend farmers markets, the government in Moscow will use a blockchain base system on the Ethereum network. The system will record applications submitted by farmers competing for a limited number of commercial plots. 15,000 trading spots are up for grabs for a season from April 20 to November 25. Farmers come from Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. Ethereum provides a public, immutable record of applications, with updates made for those who are either approved or denied access. "The entire dataset is publicly viewable, transparent and available for download. In that case, submission time can be confirmed, while the application cannot be deleted or altered by someone once it is submitted." - Andrey Borodyonkov, who serves as the blockchain product manager for Moscow City Hall.

 

Bittrex Adds Two New USD Trading Pairs

 

U.S. based Exchange Bittrex announced two new USD trading pairs. This is part of a growing expansion plan. On June 20th this year they added Ethereum/USD, on August 20th, they added XRP and Ethereum Classic (ETC) for USD, and now on September 5th Cardano (ADA) and Zcash (ZEC) for USD will be available. “Expanding fiat markets to the top digital currencies on our exchange should further drive adoption of this revolutionary technology by providing customers even more options for purchasing and trading digital currencies in a secure, robust and reliable environment with high liquidity.” Currently, the eligible U.S. states for fiat pairs are Washington, California, New York and Montana.

 

$100 million Funding Round For Internet 3.0

 

Blockchain Cloud computing startup DFINITY has closed a new funding round worth over $100 million from the same group of previous rounds, including Andreessen Horowitz. Their initial round totaled $61 million in February of this year. The project was founded with individuals in the U.S. and Switzerland who are developing the foundation of an internet computer, which they consider to be the basis for the “internet 3.0” This is a similar concept to Ethereum, but will likely have important functional differences.

 

 

Top 5 Gainers

 

IGToken (IG) +120.14% at $0.000278

Super Bitcoin (SBTC) +95.40% at $9.37

DeltaChain (DELTA) +60.72% at $0.000085

EPLUS Coin (EPLUS) +50.03% at $4.47

AdShares (ADST) +50.02% at $0.1277370

 

 

Top 5 Losers

 

Patron (PAT) -31.08% at $0.010104

Zippie (ZIPT) -30.91% at $0.005365

PeerPlays (PPY) -30.64% at $1.57

RusGas (RGS) -24.72% at $0.000621

Breakout Stake (BRX) -23.55% at $0.34413

 

 

New Coins Listed

 

SmartCash (SMART) listed to Cryptopia

Vexanium (VEX) listed to IDAX

Engine (EGCC) listed to Zeniex

 

 

 

By: BGN Editorial Staff

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