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October 16, 2018

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Crypto Market Update (10 October 2018)

October 10, 2018


General Market Outlook


The market is not showing a decisive direction. There are slightly more coins in the positive than negative, with some making double digit gains. Trading volume has remained right around $11 billion in 24 hours. Aeternity (AE) and Digitex Futures (DGTX) 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  $6,500 for -1.0% and a total market dominance of about 52.3%, and Ethereum (ETH) is right at $225 for -1% change in the past 24 hours. Market cap for the overall cryptocurrency market lost just $2 billion, sliding to just under $217 billion total.



Major Headlines


Forbes Will Use Civil Blockchain Platform


In order to "experiment with new methods of reader engagement" in the rapidly changing media industry, Forbes will begin using Civil for some of their content next year. Civil is a distributed ledger-based digital media platform that brings a new way of validating news reports, paying users for their content submissions and cutting out paid advertising. The system uses crowdsourced editing and fact checking with a system to compensate those who participate. "Forbes and Civil believe passionately in the mission of journalism, and together we can provide audiences with a level of unprecedented transparency around our content. We'll also be able to expand the reach of our writers and identify new revenue channels over time."


Cryptocurrency Hedge Funds Rapidly Growing


Hedge fund launches for the cryptocurrency market are rising to all-time highs. Crypto Fund Research released a report citing that 90 crypto hedge funds launched in the first three quarters of 2018. They anticipate that the total could be as high as 120 for the financial year. That number would represent roughly 20% of total hedge fund launches of all types for the year. That percentage was 16 last year, and back in 2016 it was only 3% of the total. All together there are 622 cryptocurrency funds, 303 of them are hedge funds. None hold more than $4 billion in assets. Roughly half of all funds are established in America.


Gemini Hires Nasdaq COO


Jeanine Hightower-Sellitto worked previously as chief operating officer of the Nasdaq-owned International Securities Exchange (ISE) for 13 years. She will now join Gemini as as managing director of operations, focused on "supervising Gemini's institutional onboarding and expanding client services team. Jeanine's depth of knowledge and experience in the financial industry makes her a valuable asset to our organization and our customers." Earlier this year Gemini hired the chief information officer of the New York Stock Exchange. Robert Cornish now works as the chief technology officer of Gemini. 



Top 5 Gainers


Cashcoin (CASH) +1368.25% at $0.004855

DMarket (DMT) +148.16% at $0.445286

EJOY (EJOY) +103.58% at $0.000230

SpreadCoin (SPR) +66.44% at $0.088652

Bytecent (SPR) +59.95% at $0.114867



Top 5 Losers


SHADE Token (SHADE) -74.09% at $0.004369

Cashbery Coin (CBC) -65.97% at $0.553755

Moving Cloud Coin (MCC) -40.11% at $0.008448

WellTrado (WTL) -38.43% at $0.076390

Karma (KRM) -38.09% at $0.001287



New Coins Listed


Rotharium (RTH) listed to Yobit

EthLend (LEND) lited to Yobit

ContentBox (BOX) listed to Yobit

CNN Token (CNN) listed to Yobit

DADI Coin (DADI) listed to Yobit

Litecoin (LTC) listed to CEX.io

Fantasy Gold (FGC) listed to Cryptopia




By: BGN Editorial Staff

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