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Crypto Market Update (18 September 2018)

September 18, 2018


General Market Outlook


The market continues is rising slightly overall. Most coins are in the green and trading volume has slowly risen from $11 billion to $13 Billion in 24 hours. Ardor (ARDR) and XRP (XRP) are the major stand outs of the top 100 coins by market cap - up over 19% and 18% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,400 for +1% and a total market dominance of about 55.0%, and Ethereum (ETH) is right at $210 for +2% change in the past 24 hours. Market cap for the overall cryptocurrency market gained $6 billion, rising to $200 billion total.



Major Headlines


Ethfinex - New Decentralized Exchange From Bitfinex


Bitfinex’s platform to compete in the decentralized cryptocurrency exchange field is now live. These type of exchanges act primarily as an orderbook keeper, where users maintain possession of their cryptocurrencies through third party wallets. This saves the time of deposits and withdrawals, and in the case of Ethfinex, requires no personal information from the user. Ethfinex is built on the Ethereum network, and offers 56 ERC-20 tokens for trading and the order book includes that of Bitfinex. They plan to expand the basic feature set to include fee structures, user incentives, margin decisions, and profit distribution decisions.


Cloudflare Releases Simple Gateway To Decentralized Web


The primary protocol used to access the internet is Transfer Protocol Secure (HTTPS). This is how data is transferred according to the IP addresses of the website host and user. A decentralized version of this kind of data transfer is called InterPlanetary File System (IPFS). The method is possible through peer-to-peer data storage, encryption and hashing, similar to cryptocurrency structures. IPFS organizes the signals for sending and receiving data by hash values, rather than IP addresses. It was developed by Protocol Labs, but is now an open-source project. It hasn’t become popular because it is separate from the traditional web, and does not offer the same user-friendly access. However, Cloudfare has now built on the base technology of IPFS to create a gateway platform for easy access and ability to build websites on the network. The platform can deliver content using HTTPS as well.


Yen-Pegged Stablecoin In Development


The organization supported by the government of the Chinese city of Hangzhou with $1 billion in funding are planning a stablecoin backed by the Yen. Xiong'An (Grandshores) Blockchain Fund hopes for early 2019 at the latest. They will be looking to raise an additional $100 million to finance the endeavor with a focus on donations through Tether from accredited investors outside of China. Financial backing for the Yen will be facilitated by a financial institution that the foundation has not yet named.



Top 5 Gainers


CyberFM (CYFM) +197.41% at $0.000066

Authorship (ATS) +76.35% at $0.002493

1World (1WO) +45.32% at $0.100957

Sakura Bloom (SB) +40.02% at $0.006444

Ripio Credit Ecosystem (RCN) +38.48% at $0.030805



Top 5 Losers


Midexcoin (MIC) -60.21% at $0.057945

Abulaba (AAA) -52.10% at $0.190570

CYCLEAN (CCL) -37.78% at $0.010701

ATBCoin (ATB) -32.04% at $0.022664

Aurora (AOA) -29.39% at $0.026895



New Coins Listed


IGToken (IG) listed to TopBTC

Aurora (AOA) listed to Kucoin




By: BGN Editorial Staff


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