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Crypto Market Update (07 September 2018)

September 7, 2018

 

General Market Outlook

 

The market is now consolidating after the strong downturn of the past couple days. Coins are split between green and red, with trading volume now slowed by $5 billion since yesterday to about $13 billion in 24 hours. Holo Chain (HOT) and Dash (DASH) are the major stand outs of the top 100 coins by market cap - up over 15% and 10% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,500 for about +0.5% and a market dominance of about 54.7%, and Ethereum (ETH) is right at $220 for -3.5% change in the past 24 hours. Market cap for the overall cryptocurrency market climbed over $4 billion, but has since fallen back to $204 billion total as it was yesterday.

 

 

Major Headlines

 

Crypto.com Secures Partnership For Crypto Card

 

Before year end, 100,000 Visa debit cards backed by cryptocurrency will be issued by Crypto.com (previously Monaco). The cards will be licensed only in Singapore in partnership with Wirecard Bank of Germany, and receive rewards in cryptocurrency. Crypto.com has plans for other financial services with help from Wirecard as well, such money lending backed by cryptocurrency. Cards will support Bitcoin, Litecoin, Ethereum, Binance Coin, and the company’s own cryptocurrency, MCO. “We believe our product addresses a real need, and enhances trust in digital assets” - Kris Marszalek CEO Crypto.com.

 

New Industry Agnostic Blockchain Services

 

Former employees of leading global professional services firm Deloitte are launching a new blockchain based supply chain platform called SUKU. The supply chain coordination platform was developed through Citizens Reserve, a company focused on professional services through blockchain integration. The “SUKU ecosystem” seeks to improve how shipments are coordinated and tracked around the world, using both the ethereum and quorum blockchains. The system includes a bid-and-order marketplace to write automated contracts, essentially creating "supply chain-as-a-service" hub. "The current supply chain environment is complex and difficult to navigate. Almost all enterprises require a supply chain to some extent, but the technology supporting them remains expensive, inefficient and fragmented." - Eric Piscini SUKU CEO (Deloitte's former global blockchain lead)

 

Marijuana Magazine Accepting Crypto For IPO

 

High Times Magazine announced they would become a public company last year, but has delayed the process until recently. Their initial statement included that they would accept cryptocurrency payments directly to take stake in their organization, however U.S. regulatory issues forced them to recind that decision. However, they have now brought on a third party payment processing company called Fund America to act as a middle man. In this way, investors can pay with BTC or ETH, but the coins are never actually held by the High Times organization.

 

 

Top 5 Gainers

 

FedoraCoin (TIPS) +169.08% at $0.000021

Couchain (COU) +87.38.% at $0.000059

Arbidex (ABX) +76.60% at $0.065927

Webcoin (WEB) +45.12% at $0.018173

All Sports (SOC) +32.55% at $0.021115

 

 

Top 5 Losers

 

HeartBout (HB) -41.91% at $0.026183

MIB Coin (MIB) -40.34% at $0.070895

AVINOC (AVINOC) -35.93% at $0.005284

CVCoin (CVN) -34.22% at $0.356286

Profile Utility Token (PUT) -27.88% at $0.017115

 

 

New Coins Listed

 

Zcash (ZEC) listed to CoinJar

Ontology (ONT) listed to BiBox

Hycon (HYC) listed to Bit-Z

 

 

 

By: BGN Editorial Staff

 

 

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