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Crypto Market Update (17 October 2018)

October 17, 2018

 

General Market Outlook

 

The market continues to consolidate. Coins are split between positive and negative gains with many making double digit gains. Trading volume has wavered around $12 billion in 24 hours. 0x (ZRX), which just became available through Coinbase and Odyssey (OCN) are the major stand outs of the top 100 coins by market cap - up over 30% and 25% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,550 or -0.5% and a total market dominance of about 53.8%, and Ethereum (ETH) is right at $210 for -1.0% change in the past 24 hours.

 

 

Major Headlines

 

 

Blockchain For Ethical Finance In U.K.

 

Responsible Finance & Investment (RFI) Foundation is a non-profit with the goal of bringing together various forms of responsible finance practices to encourage consensus as the basis for standards, practices and regulations. The organization will now work to incorporate a blockchain tool for tracking companies’ sustainable commitments. Public blockchains use a ledger of transactions that is totally transparent for anyone to look at. This will highlight in real time when ethical credentials are not upheld. This is especially beneficial for tracking standards of what is considered “green” or where donations are actually going. The system will hopefully help curb “greenwashing,” where companies actions don’t match how ethical or environmentally friendly they claim to be.

 

CTFC Questions Smart Contract Developers

 

Brian Quintenz of the U.S. Commodity Futures Trading Commission has addressed the question of accountability regarding smart contracts. Blockchain technology has created an entirely new mode of operation for financial interactions and supply chain management systems. However, the problems highlighted by the CTFC show continued lack of understanding, and potentially a new era of financial regulatory practices. One of the primary goals of public cryptocurrencies is to remove intermediaries. Government regulatory bodies such as the CTFC operate as nothing other than intermediaries. One examples in question are who is to blame if code is written into a smart contract where the developer is aware that an overseas user would be breaking U.S. law by using the contract. Another is can code written to provide investment incite constitute advice given by the individual who coded the program.

 

Binance Partners with Chainlysis

 

Binance is partnering with Chainalysis to create a new global compliance solution for their exchange platform. Chainalysis will provide service of their "Know Your Transaction" compliance software. This enables the exchange to monitor cryptocurrency transactions in real-time. The primary goal is to identify and prevent criminal or otherwise illicit activity such as money laundering.

 

 

Top 5 Gainers

 

Etheera (ETA) +2574.16% at $0.000125

Globalvillage Ecosystem (TICK) +71.39% at $0.000759

Cashberry Coin (CBC) +64.95% at $0.870830

Alibabacoin (ABBC) +63.31% at $0.845900

MIRE COIN (MIR) +49.26% at $0.093565

 

 

Top 5 Losers

 

Cobrabytes (COBRA) -48.76% at $0.104914

Cashcoin (CASH) -33.88% at $0.002086

SiaCashCoin (SCC) -32.31% at $0.000113

AMO Coin (AMO) -30.59% at $0.001830

Unibright (UBT) -29.55% at $0.010653

 

 

New Coins Listed

 

Helium (HLM) listed to Cryptopia
PIVX (PIVX) listed to DeltaDirect

Anon (ANON) listed to Coinone

 

 

By: BGN Editorial Staff

 

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