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Crypto Market Update (16 November 2018)

November 16, 2018

 

General Market Outlook

 

The market is beginning to consolidate after the strong downtrend of the past couple days. Coins are split between positive and negative percentage changes, and trading volume has dropped back down to a more normal level of between $14 billion and $16 billion in 24 hours. Factom (FCT) and WAX (WAX) are the major stand outs of the top 100 coins by market cap - up over 32% and 18% respectively in the past 24 hours. The value of Bitcoin (BTC) is nearly $5,600 for +0.5% and a total market dominance of about 52.8%, and the value of Ethereum (ETH) is around $175 for -1.0?% change in the past 24 hours. Market cap for the overall cryptocurrency made no significant change settling back to around $184 billion total.

 

 

Major Headlines

 

Another New York BitLicense Issued

 

NYDIG Execution is now the newest license holder of the Bitlicense, which allows companies to offer custodial services and execute transactions with cryptocurrencies. It also includes a set of guidelines these companies must adhere to regarding cryptocurrency control, administration,  maintenance, storing, and issuance. NYDIG will be allowed to work with five cryptocurrencies; Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), XRP (Ripple), and Litecoin (LTC). The company is a subsidiary of the New York Digital Investment Group LLC (NYDIG), and is authorized to run self-custody contracting with third parties for custodial services. The license extends to their contracting service NYDIG Execution and its other subsidiary NYDIG Trust.

 

Blockchain Ridesharing Coming To Singapore

 

In Singapore, Mass Vehicle Ledger has become a popular ride sharing app that operates similarly to Uber or Lyft. The company is now partnering with one of the major blockchain networks OmiseGo. MVL and OmiseGo plan to launch a Proof-of-Concept (PoC) to see if the OmiseGo network can be compatible and beneficial with MVL’s data record-keeping system. As an additional input of traffic data, the PoC will record data collected from TADA, a taxi booking service created by MVL as well. With integration of blockchain technology, the payment systems involved in ride sharing apps could be streamlined to provide lower prices and higher use rates.

 

International Charity Using Blockchain For Agriculture

 

Oxfam has officially launched its BlocRice platform, a supply chain solution for Cambodian rice. BlocRice uses smart contracts to increase transparency and security between rice growers and purchasers in the Netherlands. They plan to reach as many as 5,000 partner farms by 2022. They hope that the increased automation for individual farmers will allow them to produce their product more easily and potentially set higher prices and avoid economic disadvantages. “The application of blockchain technology is expected to enhance the negotiation power of small-scale farmers in their rice value chains, who are usually poor primary producers.” - Solinn Lim, country director of Oxfam in Cambodia

 

 

Top 5 Gainers

 

CrowdWiz (WIZ) +144.75% at $0.070811

AirToken (AIR) +45.65% at $0.001405

Patron (PAT) +42.62% at $0.022201

Bitcoin Cash SV (BCHSV) +39.79% at $125.62

Gold Bits Coin (GBC) +38.39% at $0.173094

 

 

Top 5 Losers

 

Nasdacoin (NSD) -31.75% at $3.28

Ink (INK) -25.67% at $0.011912

Apollo Currency (APL) -23.17% at $0.001058

BitWhite (BTW) -22.01% at $0.005699

KWHCoin (KWH) -20.13% at $0.004907

 

 

New Coins Listed

 

Veros (VRS) listed to IDAX

Tron (TRX) listed to Bestex

Eunomia (ENTS) listed to Coinlim

Tezos (XTZ) listed to Cobinhood

Lisk (LSK) listed to Cobinhood

 

 

 

By: BGN Editorial Staff

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