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Crypto Market Update (07 January 2019)

January 7, 2019

 

General Market Outlook

 

The market rose sharply in the past 24 hours with many coins seeing positive gains. Trading volume has risen proportionally from $15 billion to almost $18 billion in 24 hours. Buggyra Coin (BCZERO) and Crypto.com (CRO) are the major stand outs of the top 100 coins by market cap - up over 60% and 16% respectively in the past 24 hours. The value of Bitcoin (BTC) is just over $4,000 for +2.5% and a total market dominance of 51.7%, and the value of Ethereum (ETH) is right under $155 for -1.0?% change in the past 24 hours. Market cap for the overall cryptocurrency market declined/gained/made no significant change over $? billion, rising/falling to $??? billion total.

 

 

Major Headlines

 

Ireland Potentially Following EU Lead

 

In July of this year the EU established updated Anti-Money Laundering regulations in response to cryptocurrencies and digital assets. The changes came after a great deal of research and input from industry professionals in technology and the financial sector, and call for stricter KYC information from exchanges and wallet providers. The changes are then free to applied within EU member countries, and Ireland is just a few steps away from adoption. The primary change is for onboarding new customers. No anonymous safety deposit boxes or anonymous cryptocurrency wallets would be permissible. “The reality is that money laundering is a crime that helps serious criminals and terrorists to function, destroying lives in the process… Criminals seek to exploit the EU’s open borders and EU-wide measures are vital for that reason. Ireland strongly supports the provisions in the fifth EU money laundering directive.” - Minister of Justice Charlie Flanagan

 

$24 Billion Processed By Circle

In just one year, which was their first year providing their own cryptocurrency services, Circle processed $24 billion with their over-the-counter (OTC) trading desk. The total came from more than 10,000 OTC trades between 600 different counterparties. Circle claims they have established partnerships with 1,000 institutional clients like exchanges, token projects, OTC desks, asset managers, and other global endowments. “This year, we anticipate further incremental growth in institutional adoption catalyzed by stablecoin usage, advancements in institutional custody solutions, increasing regulatory clarity particularly in the [United States], and improvements and innovation in core crypto infrastructure.”

 

Ledger’s New Model

As the leader in cryptocurrency hardware wallets, Ledger is not sitting back for competition to catch up. The firm has just released an entirely new model, which is bluetooth enabled. The Ledger Nano X, was revealed at the CES 2019 conference in Las Vegas. Adding the bluetooth feature allows wireless connectivity to a secure ledge mobile app for monitoring balances. The device will be compatible with 100 crypto assets.

 

 

Top 5 Gainers

 

WXCOINS (WXC) +123.04% at $1.37

Melon (MLN) +72.56% at $14.73

Brother (BRAT) +69.09% at $0.000289

WitChain (WIT) +60.89% at $0.000065

Buggyra Coin Zero (BCZERO) +60.73% at $0.065731

 

 

Top 5 Losers

 

Narrative (NRVE) -37.49% at $0.012343

TrakInvest (TRAK) -35.95% at $0.004084

Global Cryptocurrency (GCC) -33.84% at $0.003752

Quantis Network (QUAN) -33.32% at $0.086521

Ink (INK) -32.29% at $0.005781

 

 

New Coins Listed

 

Bankera (BNK) launching public exchange and trading

 

 

 

 

By: BGN Editorial Staff

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