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Crypto Market Update (09 October 2018)

October 9, 2018

 

General Market Outlook

 

The market is primarily negative today by small percentages. Nearly all coins are in the red and trading volume has slowed to $11 billion in 24 hours. Nebulas (NAS), Dentacoin (DCN) and Noah Coin (NOAH) are the major stand outs of the top 100 coins by market cap - up over 14%, 10% and 10% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,600 for -0.5% and a total market dominance of 52.3%, and Ethereum (ETH) is right at $230 for -0.5% change in the past 24 hours. Market cap for the overall cryptocurrency market slowly lost $3 billion, now hovering around $219 billion total.

 

 

Major Headlines

 

CNBC Host Promotes Bitcoin

 

The analyst and host of CNBC’s show Cryptotrader believes that the price of Bitcoin (BTC) is “about to explode.” Ran Neuner expressed true confidence in a surge for BTC price. He even noted: “I just bought Bitcoin for my parents.” He believes that the rally would be tied to the U.S. SEC’s highly-anticipated upcoming decision on several Bitcoin ETFs. He highlighted that their new decision is extremely important. A Bitcoin ETF is a “way bigger deal” than a cash settlement Bitcoin futures contract, since it “requires actual purchase of BTC.” The SEC scheduled a deadline of November 5th for reviewing nine Bitcoin ETF applications from three different applicants.

 

Bitwala and Solaris - German Blockchain Bank Account

 

Bitwala hopes to launch Germany's first "blockchain bank account" in partnership with the Berlin-based fintech company solarisBank. The project is part of solarisBank's "Blockchain Factory" initiative. Bitwala will be able to offer banking services under the solarisBank's German banking license by mid-November. Bitwala raised €4 million in new funding last month to support its efforts. 35,000 users have pre-registered for the service. It is described as a  "fantastic technical platform that allows" anyone or any company to easily "go in and plug your use cases" into the solarisBank API. "We are very proud to partner with solarisBank as we launch our new product. Their technical services and regulatory umbrella enable Bitwala to be fully compliant with German banking requirements while offering a reliable user experience." - Jörg von Minckwitz, president of Bitwala

 

U.K. Funding Blockchain For Telecom

 

Th national telecom regulator’s Pioneer Fund announced that it would award nearly £700,000 to Ofcom last week. They describe the funding as a project using blockchain technology to improve U.K. telephone number management. "We will be working with industry to explore how blockchain could make it quicker and easier for landline customers to switch providers while keeping their number – as well as reducing nuisance calls. And we'll expand our research into other areas where innovative technologies such as blockchain could be applied to benefit consumers.” - Technology Officer Mansoor Hanif

 

 

Top 5 Gainers

 

HarmonyCoin (HWC) +131.71% at $0.000394

Ourcoin (OUR) +81.85% at $0.984160

BitNewChain (BTN) +63.32% at $0.079049

Newwork (NKC) +52.48% at $0.018242

SpreadCoin (SPR) +47.75% at $0.049965

 

 

Top 5 Losers

 

Pesetacoin (PTC) -47.85% at $0.005937

Triggers (TRIG) -37.85% at $0.184932

Experience Points (XP) -34.33% at $0.000022

Soma (SCT) -28.92% at $0.050188

ChatCoin (CHAT) -28.20% at $0.016963

 

 

New Coins Listed

 

DAO Stack (GEN) listed to Liquid

Divi Project (DIVI) listed to Cryptopia

 

 

By: BGN Editorial Staff

 

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