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October 16, 2018

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Crypto Market Update (07 December 2018)

December 7, 2018


General Market Outlook


The market has made even more downward movement over the past 24 hours with nearly all coins are in the red and trading volume rising from $15 billion to over $17 billion in 24 hours. XYO Network (XYO) and Gold Bits Coin (GBC) are the major stand outs of the top 100 coins by market cap - up over 21% and 8% respectively in the past 24 hours. The value of Bitcoin (BTC) is just about $3,300 for -10.0% and a total market dominance of about 55.1%, and the value of Ethereum (ETH) is just under at $85 for -14.0% change in the past 24 hours. Market cap for the overall cryptocurrency market declined by another $14 billion, falling to $104 billion total.



Major Headlines


New R3 Corda App Uses XRP


For major international business, blockchain services providers such as Amazon Web Services, IBM, Hyperledger Fabric or R3 Corda have become the most popular. R3 Corda has created a new app for payment settlements geared toward these business that will use XRP as a universal digital currency for the transfers. Although XRP is the native currency to the various payment networks created by Ripple, it can still be used outside of those spaces. “The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together” - Richard Gendal Brown, CTO at R3. The new open source application called CorDapp allows payment obligations arising on the Corda network to be settled through P2P cryptocurrencies, crypto assets, or any payment method with cryptographic proof of settlement.


SEC Delays ETF Decision Again


Following a string of ETF delays and rejections, the U.S. Securities and Exchange Commission has again extended a decision that would allow for the use of Bitcoin as a basis for exchange traded funds. These ETFs have been proposed by many of the country’s largest exchanges over the past several years, but have never been passed. The proposal would integrate an update to current regulations, but now has a deadline of the end of 2019. It was first proposed by the VanEck financial services company and blockchain startup SolidX. They work in partnership with the Chicago Board of Exchanges, as it will be the first exchange to offer the products if and when they become legal.


Overstock CEO Keeps Blockchain Push


The subsidiary of Overstock.com, Medici Ventures is investing in another blockchain related company. They purchased a $2.5 million of equity stake in GrainChain, or 10% of the total company, which hopes to streamline international grain production with borderless payment settlements and better supply chain management on the network. This comes as no surprise, since the company has been investing in similar projects throughout this year. Further, the CEO stated last month that he plans to sell the business in order to full engage his blockchain investments. a software firm looking to store grain transactions on a blockchain.



Top 5 Gainers


Swarm City (SWT) +50.91% at $0.184114

BEAT (BEAT) +44.76% at $0.001765

LogisCoin (LGS) +41.37% at $0.649142

Veros (VRS) +31.34% at $0.043027

MESSE TOKEN (MESSE) +27.10% at $0.013154



Top 5 Losers


RealTract (RET) -67.64% at $0.000041

SpankChain (SPANK) -43.78% at $0.013485

AidCoin (AID) -41.30% at $0.026132

IONChain (IONC) -38.01% at $0.001696

Menio One (ONE) -37.65% at $0.002651



New Coins Listed


Odyssey (OCN) listed to ABCC

XinFin Network (XDCE) listed on Indodax




By: BGN Editorial Staff

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