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Crypto Market Update (01 November 2018)

November 1, 2018


General Market Outlook


The market continues is now moving upward slightly after several days of sideways movement. Many coins are in the green and trading volume has moved between $10 billion and $11 billion in 24 hours. Digitex Futures (DGTX) and Horizen (ZEN) are the major stand outs of the top 100 coins by market cap - up over 10% and 9% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,400 for +1.0% and a total market dominance of 54.0%, and Ethereum (ETH) is right at $200 for +1.0% change in the past 24 hours. Market cap for the overall cryptocurrency market jumped almost $6 billion briefly but has since settled at almost $206 billion total for a gain of $3 billion.



Major Headlines


ConsenSys Buys Asteroid Mining Startup


Planetary Resources has just been acquired by Consensys, the premier Ethereum development organization. The terms of the deal were not specified in detail, but the arrangement puts CEO Chris Lewicki and general counsel Brian Israel of Planetary Resources into positions with ConsenSys. Their space venture was struggling to raise funds after launching two satellites to orbit Earth. Their vehicles included an infrared imager to scan for potentially useful resources. With on Consensys, it’s not clear what their goal will be, but the company is looking to the stars: "Bringing deep space capabilities into the ConsenSys ecosystem reflects our belief in the potential for Ethereum to help humanity craft new societal rule systems through automated trust and guaranteed execution. And it reflects our belief in democratizing and decentralizing space endeavors to unite our species and unlock untapped human potential."


ACH Payments vs. P2P Network


The U.S.'s Automated Clearing House (ACH) network handles large batches of credit and debit payments for consumers, governments and businesses. The total payments through the system in 2017 were $47 trillion worth in 2017. In similar fashion to the Bitcoin whitepaper, an outline for a P2P protocol to replace the traditional ACH payment has surfaced: "Promise: A Decentralized, Peer-to-Peer, Proxy Repayment Protocol." Taariq Lewis, CEO of a startup with the same goal received the paper this week, and plans on using some of its structure for his new business Promise. He and two co-workers have built on the paper in a follow up titled "Stronger Promises” with a blockchain employing "proxy re-signing" to facilitate the automated payment structure of ACH. On current systems like Bitcoin, it would be extremely inefficient to replace ACH, because all transactions require a cryptographic signature from the sender. They hope to launch the system in late 2019 or early 2020.


Bitlicense Approve For Bitcoin ATM Company


Coinsource has been granted the 10th Bitlicense from the New York State Department of Finances after their initial application back in 2015. Over that time period, their services have seen 500% use increase. Their Bitcoin teller machines allow anyone to purchase send or sell BTC directly from the machine, without the need to connect a Bank Account. The company already has 40 of the machines operational in New York.



Top 5 Gainers


Coupecoin (COUPE) +92.16% at $0.000025

Bitcoin Incognito (XBI) +69.93% at $0.646253

Arbitrage (ARB) +55.10% at $11.53

Sapien (SPN) +48.77% at $0.005379

Webcoin (WEB) +42.41% at $0.019704



Top 5 Losers


WABNetwork (WAB) -62.69% at $0.000317

RusGas (RGS) -51.65% at $0.000038

IXTUS Edutainment (IXE) -48.87% at $0.008160

Cashberry Coin (CBC) -44.62% at $0.580948

Karma (KRM) -31.06% at $0.001326



New Coins Listed


Tron (TRX) listed to CoinSuper

Tokenomy (TEN) listed to NUCEX

DragonChain (DRGN) listed to Ethfinex



By: BGN Editorial Staff

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