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Crypto Market Update (29 November 2018)

November 29, 2018


General Market Outlook


The market has continues rebound. Nearly all coins are in the green and trading volume has remained high, between $19 billion and $12 billion in 24 hours. Centrality (CNNZ) and Mithril (MITH) are the major stand outs of the top 100 coins by market cap - up over 32% and 30% respectively in the past 24 hours. The Sirin Labs Token is also up a strong 20%, highlighting the release of their new cryptocurrency friendly smartphone. The value of Bitcoin (BTC) is just over $4,350 for +3.0% and a total market dominance of 54.0%, and the value of Ethereum (ETH) is nearly/just over/roughly/right at $120 for +1.0% change in the past 24 hours. Market cap for the overall cryptocurrency market gained over $3 billion, rising/falling to $140 billion total.



Major Headlines


Bitcoin Bouncing Back


The price of BTC closed yesterday around $4,300 for a 24-hour increase of almost 12%. This represents the highest daily positive movement since April 12, 2018. At that time BTC was trading over $6,900 - a 38% from where it is today. That movement then continued through the month, and by early may BTC had reached almost $10,000. The Google trend explorer highlights that the weekly number of worldwide searches for “bitcoin” have corresponded to this big movement, reaching levels also not reached since April. In the past three days, searches rose 17% from the all-time-high set in the week of December 17-23, 2017. This was when Bitcoin was trading near the all time high of $20,000.


NYSE Chairman Optimistic


Jeffrey Sprecher attended the Consensus Invest Conference as a speaker. He is extremely involved in the cryptocurrency industry as the CEO of the major global exchange ICE. The Intercontinental Exchange is one of the most widely used exchanges planning to incorporate cryptocurrencies. They are the major developer behind Bakkt, the cryptocurrency platform that hopes to bring true trusted transactions and a suite of digital asset features to the existing financial markets. He notes that this is a broad opinion that isn’t focused on one or any certain coins for making a long term integration into the global financial system. Will digital assets survive? The unequivocal answer is yes. We’re kind of agnostic to price.”


Amazon’s New Blockchain Services


Through AWS, Amazon is adding more blockchain services for clients to develop blockchain networks without having to pay their own developers. This isn’t an issue for developers where companies are trying to skip out on that cost. The problem is that there aren’t enough developers experience with blockchain technology to fill the need. In this way Amazon is helping to allow any interested businesses to get familiar with the new technology. The first new service, Amazon Managed Blockchain “is a fully managed service that makes it easy to create and manage scalable blockchain networks,” that can be built on Hyperledger Fabric or ethereum.


The second brings Amazon’s cloud computing into the mix with their Quantum Ledger Database (QLDB). The fully managed ledger database allows companies to easily analyze their network activity outside the network and gain insights into trends.”



Top 5 Gainers


Octoin Coin (OCC) +124.33% at $0.618337

Ink (INK) +123.28% at $0.013287

Crowd Machine (CMCT) +47.73% at $0.005042

Litecoin Cash (LCC) +43.42% at $0.017095

Consentium (CSM) +42.24% at $2.04



Top 5 Losers


RusGas (RGS) -65.30% at $0.000004

VINchain (VIN) -34.85% at $0.002995

ProChain (PRA) -26.18% at $0.012780

Dignity (DIG) -26.08% at $0.012532

WeShow Token (WET) -24.81% at $0.033059



New Coins Listed


WXCoins (WXC) listed to Nucex

GoHelpFund (HELP) listed to Stex




By: BGN Editorial Staff


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