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Crypto Market Update (11 September 2018)

September 11, 2018

 

General Market Outlook

 

The market continues to drop somewhat more, but there is a small group of coins that are recovering. Trading volume has hovered right around $11billion in 24 hours. Emercoin (EMC) is the major stand outs of the top 100 coins by market cap - up over 43% in the past 24 hours. Bitcoin (BTC) is right around  $6,300 for -1% and a total market dominance of about 56.7%, and Ethereum (ETH) is right at $185 for -4.5% change in the past 24 hours. Market cap for the overall cryptocurrency market lost just over $5 billion down to $191 billion total.

 

 

Major Headlines

 

Gemini Approved For USD Stablecoin

 

Widely known cryptocurrency exchange founded by the Winklevoss twins, Gemini, has confirmed that they will launch a stablecoin backed by USD. The cryptocurrency is built on ethereum, and has been reviewed and approved by the New York Department of Financial Services (NYDFS). It will be directly pegged 1:1 with USD, where the Gemini Trust Company holds USD deposits corresponding to the number of tokens in circulation. The holdings are secured in the U.S. based State Street Bank, and insured through the Federal Deposit Insurance Corporation (FDIC)'s "pass-through" deposit insurance program. Independent auditor BPM Accounting and Consulting will review the company's bank holdings on a monthly basis, and Gemini will make the audits publicly available."The Gemini dollar is part of our mission to build the future of money ... It is the missing link between the traditional banking system and the crypto economy." -  Tyler Winklevoss

 

First Bitcoin Mutual Fund In Canada

 

First Block Capital Inc. was Canada’s first and still only regulated Bitcoin fund. The fund has now obtained mutual fund trust status. This allows investors to put their fund units in self-directed registered accounts. The service is offered only to accredited investors, and will provide substantial tax benefits for retirement and savings purposes through Canda’s Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). Qualifications for accredited investors in Canada include: registered as an adviser or dealer; a person who owns financial assets that exceeds $1,000,000 before taxes; a person whose net income before taxes exceeds $200,000 or $300,000 the two most recent calendar years. The FBC Bitcoin Trust will be available for purchase on the decentralized and self-regulated crypto payment system called NEO Connect.

 

French Soccer Ligue Champion PSG Launching Blockchain Network

 

French soccer club Paris Saint-Germain (PSG) will collaborate with Socios.com to launch a token ecosystem. The platform is built on the blockchain venture “chiliZ,” to allow the club to launch a Fan Token Offering (FTO). This will give fans access to branded Saint German club tokens that can be used to for voting rights on things like jersey colors, or can also confer VIP status and/or rewards to their holders.

 

 

Top 5 Gainers

 

Superior Coin (SUP) +101.30% at $0.000998

Mass Vehicle Ledger (MVL) +67.30% at $0.003341

EPLUS Coin (EPLUS) +55.92% at $2.31

Vitae (VITAE) +50.20% at $0.595558

Emercoin (EMC) +43.33% at $1.27

 

 

Top 5 Losers

 

Webcoin (WEB) -45.57% at $0.022297

Uquid Coin (UQC) -38.21% at $0.378907

ATC (ATCC) -28.74% at $0.006773

TraDove B2BCoin (BBC) -24.95% at $0.010437

LogisCoin (LGS) -24.44% at $13.06

 

 

New Coins Listed

 

Project Coin (PRJ) listed to Cryptopia

Gemini Dollar (GUSD) listed to Gemini

 

 

 

By: BGN Editorial Staff

 

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