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Crypto Market Update (29 October 2018)

October 29, 2018


General Market Outlook


The market continues took a strong downturn recently, but has somewhat leveled out. Nearly all coins are down, and trading volume has since risen to almost $12 billion in 24 hours in the wake of major price drops. Nxt (NXT) and Polymath (POLY) are the major stand outs of the top 100 coins by market cap - both up over 9% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,350 for -2.0% and a total market dominance of about 54.1%, and Ethereum (ETH) is right at $200 for -3.5% change in the past 24 hours. Market cap for the overall cryptocurrency market lost roughly $6 billion, now just shy of $204 billion total.



Major Headlines


SC Johnson Using Blockchain For Recycling


Plastic Bank is a non-profit organization committed to preventing the growing disposal of plastic in oceans. They are now working with SC Johnson to open several plastic recycling centers in Indonesia. The centers will offer locals tokens for waste collection. SC Johnson owns such brands as Glade, Ziploc and Mr. Muscle produces a massive amount of plastic to package their products. The company has taken steps to conduct research on the impact of plastic pollution of the ocean. They recent data states that China, Indonesia, the Philippines, Vietnam, and Thailand account for more than 55% of the plastic waste leaking into the ocean. This is just one of the first steps in a growing global economy that is working for the good of third world countries and closing economic disparity.


Singapore Blockchain Energy System


The SP Group is one of the largest providers of electricity and gas transmission in Singapore. They will soon launch a blockchain-powered renewable energy certificate (REC) marketplace. The platform was announced at the ASEAN Energy Business Forum. Blockchain will help the company increase transparency and efficiency of energy transactions. “Through blockchain technology, we enable companies to trade in renewable energy certificates conveniently, seamlessly and securely, helping them achieve greener business operations and meet their sustainability targets.” Samuel Tan, chief digital officer. The new digital documents serve as proof that a particular amount of energy was produced by solar batteries.


U.S. Federal Communications Commission Support Blockchain


Ajit Pai, chairman of the U.S FCC spoke out on the misunderstandings of new technology in relation to government regulations that were created long before such things were envisioned. He calls the telecom industries standards “antiquated.” They first became law in the 1930s, but with the advent of blockchain, artificial intelligence (AI) and machine learning, it’s nearly impossible for this original framework to house the enormous potential of the technologies. “We don’t have jurisdiction over these firms but that’s one of the thing we are trying to learn about. What are the emerging technologies that will have an effect on this space and how should our thinking about regulation evolve.”



Top 5 Gainers


BitNewChain (BTN) +71.43% at $0.060972

Unibright (UBT) +67.28% at $0.031079

Bitcoin Incognito (XBI) +61.97% at $0.280467

StockChain (SCC) +60.76% at $0.003300

Vitae (VITAE) +59.59% at $2.53



Top 5 Losers


Simmitri (SIM) -38.69% at $0.064972

Datarius Credit (DTRC) -30.90% at $0.001009

Game Stars (GST) -29.69% at $0.000717

AirWire (WIRE) -28.10% at $0.024436

IXTUS Edutainment (IXE) -26.95% at $0.019714



New Coins Listed


Sounder (SNR) listed to Yobit

XRP (XRP) listed to Yobit

Osteria (YUPA) listed to Yobit

Secured Notes (SECN) listed to Yobit

Paxos Standard (PAX) listed to Yobit

Diverse Coin (DVRS) listed to Probitex



By: BGN Editorial Staff

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