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Crypto Market Update (02 November 2018)

November 2, 2018


General Market Outlook


The market is now moving sideways primarily. Coins are split between positive and negative movement with trading volume staying between $11 billion and $12 billion in 24 hours. Ravencoin (RVN) and Bitcoin Cash (BCH) are the major stand outs of the top 100 coins by market cap - up over 19% and 7% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,350 for -1.0% and a total market dominance of about 53.3%, and Ethereum (ETH) is right at $200 for roughly no change in the past 24 hours. Market cap for the overall cryptocurrency market made no significant changes, and is still at about over $206 billion total.



Major Headlines


deVere Launches Cryptocurrency Fun


The UK based financial advisory firm now offers a service called “deVere Digital Asset Funds” in partnership with an investment fund from Dubai. Dalma Capital Management plans to help the new service take advantage of arbitrage possibilities in the cryptocurrency market. It will invest in a portfolio of various digital assets using algorithmic trading over different platforms. The founder and CEO of deVere Group, Nigel Green, now believes that cryptos are "undeniably part of mainstream finance.” CEO of Dalma Capital is bullish on the new service. "Arbitrage opportunities abound – the prices of the top 25 crypto assets vary across over 400 liquidity venues. The ability to trade long and short allows profit opportunities regardless of market direction."


Malta Continues To Push Fintech Boundaries


A major blockchain conference was held recently in Malta. The Maltese government announced creation of a new taskforce to develop a national artificial intelligence (AI) strategy called Malta.ai. “After successfully positioning Malta as the ‘Blockchain Island,’ by being the first in the world to regulate DLT (distributed ledger technology) products and services, we now would like to position Malta amongst the top 10 countries in the world with an artificial intelligence policy.” The Junior Minister for Financial services, Digital economy and Innovation, Silvio Schembri. Malta.ai will be made in conjunction with SingularityNET, a decentralized marketplace for AI services based out of Hong Kong.


Winklevoss Twins To Sue Charlie Shrem


In a recent New York Times article, Charlie Shrem was reported to be in for potentially more court appearances. Charlie Shrem was the early face of Bitcoin, where he was sentenced to a year in prison for money laundering and funding and operating BitInstant, which was an unlicensed money transmitting business. It was back then that the three met, and engaged in several business deals. Shrem accepted $750,000 to buy bitcoin on their behalf, and at another point gave him $250,000 for the same purpose. Their lawsuit alleges that Shrem did not given them the full value of those totals in Bitcoin.



Top 5 Gainers


Coupecoin (COUPE) +472.24% at $0.000123

Daxxcoin (DAXX) +200.00% at $0.000569

iBTC (IBTC) +169.12% at $0.016510

Welltrado (WTL) +85.19% at $0.082080

Mark.Space (MRK) +71.56% at $0.013274



Top 5 Losers


Aurora DAO (AURA) -33.12% at $0.049013

ATC Coin (ATCC) -26.72% at $0.024665

Webcoin (WEB) -25.51% at $0.014514

BitWhite (BTW) -24.20% at $0.010632

BitcoinX (BCX) -23.88% at $0.006330



New Coins Listed


SpectreCoin (XSPEC) listed to CoinPulse




By: BGN Editorial Staff

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