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Crypto Market Update (02 October 2018)

October 2, 2018

 

The market continues to consolidate. Coins are split between red and green, and trading volume has remained around $14 billionin 24 hours. Cortex (CTXC) and Kin (KIN) are the major stand outs of the top 100 coins by market cap - up over 32% and 13% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,600 for roughly no change and a total market dominance of about 51.4%, and Ethereum (ETH) is right at $225 for no real change change in the past 24 hours. Market cap for the overall cryptocurrency market gained less that $1 billion, still right around $220 billion total.

 

 

Major Headlines

 

Bill Clinton Speaks On Cryptocurrency

 

Former President of the U.S. Bill Clinton took spoke at a cryptocurrency industry conference, warning to regulators to not stifle development of the cryptocurrency and blockchain industry. Clinton was joined by Gene Sperling, a former White House advisor Ripple's Swell conference in San Francisco. During the Q&A session they two government leaders touched big issues such as cybersecurity challenges facing the U.S. government. This lead to the deeper associations to gun laws and foreign policy. Most importantly, Clinton highlighted the "disparity of access" to new technologies like blockchain as they develop and grow. "The more you develop new technologies like blockchain … AI technologies, robotic technologies … the more the disparity of access is going to be felt."

 

Financial Times Outlines Fintech Issues

 

Their Special Report on global financial markets dedicated two out of its six sections to the cryptocurrency industry. “Exchanges, Trading and Clearing” names cryptocurrency industries as “some of the biggest changes” in financial markets over the past ten years. Another report “Crypto exchanges must face up to responsibilities as they mature,” summarizes crypto markets in comparison with traditional markets. They dive in to major disputes between traditional markets experts and the disruptors in the crypto space. They point out that the potential advent of cryptocurrency ETFs are “deepening its exposure to the wild crypto market.”

 

A Push For Ethereum ASIC Resistance

 

Martin Holst Swende is the security lead at the Ethereum Foundation. He is now calling for swift action to remove ASIC mining hardware from the ethereum platform. He and his organization developed the methods to ensure that code changes will not disrupt or harm the Ethereum network. This could result in a fork, but he remains positive in his opinion: "If we eventually decide to set both [upgrades] to the same [block] number, then fine, but that's not a necessity.”

 

 

Top 5 Gainers

 

Sakura Bloom (SKB) +115.52% at $0.009170

Loopring (NEO) (LRN) +82.04% at $0.109954

Gems (GEM) +63.02% at $0.004666

Super Game Chain (SGCC) +59.73% at $0.000198

Alphacat (ACAT) +50.49% at $0.001072

 

 

Top 5 Losers

 

Bitnation (XPAT) -69.85% at $0.000009

Ubex (UBEX) -36.26% at $0.006648

HeroNode (HER) -28.62% at $0.001899

Xchange (XCG) -26.42% at $0.231734

CEEK VR (TICK) -24.95% at $0.004190

 

 

New Coins Listed

 

Netkoin (NTK) listed to TopBTC

Aidos Kuneen (ADK) listed to IDAX

Rise (RISE) listed to LiveCoin

 

 

 

By: BGN Editorial Staff

 

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