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Crypto Market Update (26 November 2018)

November 26, 2018

 

General Market Outlook

 

The market has continued to build on the strong downtrend of most of last week. More coins are in the red than making gains, however, several major coins are showing strong recovery. Trading volume has remained high, wavering between $18 billion and $20 billion in 24 hours. Metaverse ETP (ETP) and Sirin Labs Token (SRN) are the major stand outs of the top 100 coins by market cap - up over 37% and 24% respectively in the past 24 hours. The value of Bitcoin (BTC) has dropped all the way to $3,650 for -3.5% and a total market dominance of 53.8%, and the value of Ethereum (ETH) is down to $105 for -3.0?% change in the past 24 hours. Market cap for the overall cryptocurrency market made no significant change over the past 24 hours, resting at just over $121 billion total.

 

 

Major Headlines

 

One U.S. State Now Allows BTC Tax Payments

 

The state of Ohio in the U.S. has been progressive with their regulations regarding cryptocurrency. Earlier this year the state updated the language throughout their laws to recognized data stored and transacted on a blockchain as equal to traditional signatures. For legal standing in Ohio, digital signatures are part of the new norm. The state will now accept payments of Bitcoin for taxes from businesses, but not individuals. They created a website OhioCrypto.com to facilitate a payment portal with BitPay. In this way, the Bitcoins will not actually be held by any state government body, but rather converted into traditional US dollars and sent back to them. Wallets that will be compatible with the new website are the Bitcoin Core client, Mycelium and breadwallet, as well as any others that are compatible with the Bitcoin Payment Protocol.

 

Securitize Funded By All Big Names

 

An initial funding round was just completed by a blockchain startup that focuses on digitizing traditional securities. Securitize raised almost $13 million, led by Blockchain Capital. Almost more importantly, the start up is bringing together an expert board of directors to make sure the funding is used in the best way possible. Co-founder and CEO Carlos has brought on Blockchain Capital co-founder and managing partner Brad Stephens along with members from major cryptocurrency companies Coinbase Ventures, Ripple’s Xpring, OKEx’s OK Blockchain Capital, Global Brain and NXTP. The company is buying into the possibility of full digital transition. In which case, the financial industry will have over $7 trillion to bring to decentralized networks.

 

Nigerian Presidential Candidate Supports Full Crypto

 

The Opposition leader running for office in Nigeria promises a full fledged Cryptocurrency Policy if he is elected president. Abubakar is the frontrunner as a representative of the People’s Democratic Party. He was the former Vice President of the country. He states that the country will adopt blockchain technology and cryptocurrency if he is voted into power for both immediate financial benefits, but a plan to integrate the technology into their educational system as well. The Nigerian government has already put time into the industry by researching a conversion to Bitcoin as a main means of payment. And Abubakar is confident further research, education and implementation will help: “Nations that will prosper are those that embrace [a] comprehensive, agile approach that infuses the influence of rapid technological advancement into every area of governance and policy to address the issues of inadequate technological infrastructure, funding and poor database.”

 

 

 

Top 5 Gainers

 

Octoin Coin (OCC) +160.68% at $0.800690

Agrolot (AGLT) +70.52% at $0.204787

Clams (CLAM) +67.37% at $1.70

Thore Cash (TCH) +63.89% at $0.002162

Sentinel Protocol (UPP) +55.52% at $0.015142

 

 

Top 5 Losers

 

StarChain (STC) -56.64% at $0.001385

Vipstar Coin (VIPS) -39.46% at $0.000063

eosBLACK (BLACK) -36.21% at $0.087672

DasCoin (DASC) -33.81% at $0.014630

Nexty (NTY) -31.56% at $0.000078

 

 

New Coins Listed

 

Lisk Machine Learning (LML) listed to Cryptopia

Football Coin (XFC) listed to Livecoin

Ethereum Classic (ETC) listed to Livecoin

Jumbo Bump Token (JBT) listed to Livecoin

NEO (NEO) listed to IndoDax

 

 

By: BGN Editorial Staff

 

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