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Crypto Market Update (23 October 2018)

October 23, 2018


General Market Outlook


The market continues to make no strong moves in either positive or negative gains overall. Coins are split between between gains and losses, but some are making significant growth. Trading volume has remained steady between $10 billion and $12 billion in 24 hours. Decred (DCR) and ChainLink (LINK) are the major stand outs of the top 100 coins by market cap - up over 32% and 15% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,450 for -0.5% and a total market dominance of 53.8%, and Ethereum (ETH) is right at $200 for -1.0% change in the past 24 hours. Market cap for the overall cryptocurrency market steadily lost just under $2 billion, now consolidating at $208 billion total.



Major Headlines


Bitcoin Futures On ICE Next Month


The Bitcoin futures market has been driven by the Chicago Board of Exchanges as they were the first to list a product of that type in December of 2017. Now next month, the parent company of the NYSE will list a Bitcoin futures product through their new digital asset platform on December 12th. There will be no margin trading in this system. The Intercontinental Exchange launched the platform in August of this year with the goal of becoming the premier, regulated, global ecosystem for digital assets. It’s built on Microsoft’s cloud networking services, and backed by Microsoft venture capital as well.


HTC Crypto Phone Release


The world’s first mass-distributed blockchain enabled phone is now on pre-order. The Android device as designed by HTC, called the Exodus. Maybe most importantly, the phone must be purchased using cryptocurrencies. Bitcoin or Ethereum will be accepted, and is available to customers is almost 40 countries, including the United States, Hong Kong, Singapore, New Zealand, the and the United Kingdom. Devices will ship in December, but the company has hinted at an early access version. No details have been provided, but the overall purpose behind an early adopter community was stated: "The goal is to start with the blockchain community and get their assistance in making our wallet and the technology even more secure, in essence testing it out and providing feedback and suggestions [and] solutions.”


Overstock Backs Decentralized Social Media Platform


One of the oldest decentralized media platforms is called Minds. Though the company has not seen as much adoption as others such as STEEM, the project has been under constant development and work toward monetary backing from bigger, established companie. They have just recently launched their native cryptocurrencies (MINDS), which allows users to be compensated for contributing popular content to the platform or engaging the content of others. The company is extremely conscious of user’s privacy rights, and has adopted the Electronic Frontier Foundation (EFF) Manila Principles as the platform’s Digital Bill of Rights in order to “ensure freedom of speech” for its users. Overstock has consistently shown support for blockchain and cryptocurrencies through their online marketplace accepting many cryptocurrencies, but more importantly with monetary support like this from their investment subsidiary, Medici Ventures.



Top 5 Gainers


United Bitcoin (UBTC) +162.97% at $9.51

Zero (ZER) +81.24% at $0.417047

Bezop (BEZ) +62.38% at $0.080563

Smart Application Chain (SAC) +56.62% at $4.09

Dock (DOCK) +47.37% at $0.030294



Top 5 Losers


Olive (OLE) -45.05% at $0.004993

Heartbout (HB) -44.88% at $0.026961

Ordocoin (RDC) -34.62% at $0.000026

Futurax (FTXT) -20.58% at $0.000214

Mozo Token (MOZO) -20.52% at $0.002959



New Coins Listed


Komodo (KMD) listed to OnePageX

Slate (SLX) listed to HitBTC




By: BGN Editorial Staff

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