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Crypto Market Update (09 November 2018)

November 9, 2018


General Market Outlook


The market has begun minor downward movement with most coins seeing small percentage losses. Trading volume has remained between $13 billion and $14 billion in 24 hours. Revain (R) and KuCoin Shares (KCS) are the major stand outs of the top 100 coins by market cap - up over 6% and almost 4% respectively in the past 24 hours. The value of Bitcoin (BTC) is right at $6,400 for -1.0% and a total market dominance of about 52.2%, and the value of Ethereum (ETH) is just over $210 for -1.5% change in the past 24 hours. Market cap for the overall cryptocurrency market declined only just over $2 billion, falling to about $213 billion total.



Major Headlines


First Digital Safety Deposit Boxes


VersBank has just completed a digital deposit boxe pilot project for digital currencies and digital assets. The Canadian bank will now launch the platform, called VersaVault, for any of their institutional customers. For the individual, their personal wallet or cold storage is essentially a free safety deposit box. However, for financial institutions where multiple owners are involved, one wallet is not feasible. Director of Investor Relations Wade MacBain says they have received over 200 inquiries about the service already. The service was created with the help of Gurpreet Sahota, formerly the principal architect of cybersecurity at smartphone maker Blackberry.


IBM, Seagate - Blockchain Counterfeit Protection


Counterfeit products cause companies billions is lost sales each year in almost every industry. Blockchain has been highlighted as a prime method for curbing this practice in the future. The cryptographic systems allow items to have individual identifiers that cannot be copied in any way. This process is the basis for the viral Ethereum dapp CryptoKitties. IBM and Seagate have begun a joint project that looks to take this ability to their computer hardware. The system will utilized Seagate’s security solution Seagate Secure Electronic ID (eID) and bring the product authentication data across to the IBM Blockchain Cloud. One added service is similar to a digital paper shredder, called “Certified Erase.” For any data store on the IBM cloud, users can employ the cryptographic erasure technology and receive a digital certificate of “data purge.”


Chinese School Principals Mine At School


Two principals at a Chinese school were discovered to be mining Ethereum with school owner computers and electricity. Colleagues of middle school principals notices the school computer labs to be noisier than usual. This is a result of the mining process in that it utilizes a computers maximum capacity. In turn, this creates more heat, and the computers have to use their cooling fans at full speed constantly. Further the school's IT network slowed enough that people took notice, and electricity consumption nearly doubled from July to November - a value of over $2,000. The principal and assistant were banned from that school system.




Top 5 Gainers


Polcoin (PLC) +148.25% at $0.000641

Davinci Coin (DAC) +75.62% at $0.010417

SpaceChain (SPC) +71.34% at $0.025398

Nerves (NER) +62.55% at $0.000320

Etheera (ETA) +39.61% at $0.004404



Top 5 Losers


IXTUS Edutainment (IXE) -41.94% at $0.007035

Cyclean (CCL) -35.98% at $0.002279

AirWire (WIRE) -35.12% at $0.018249

BittWatt (BWT) -32.24% at $0.020751

VisionX (VNX) -29.98% at $0.006434



New Coins Listed


Name (TICK) listed to Exchange

Apex (CPX) listed to HotBit

SumoKoin (SUMO) listed to NusaX




By: BGN Editorial Staff

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