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Crypto Market Update (09 January 2019)

January 9, 2019

 

General Market Outlook

 

The market has made only small movements both upwards and downwards in the past 24 hours. Coins ares split between positive and negative gains, without many very large gainers. Trading volume saw a brief strong rise to nearly $25 billion, but has since dropped to almost $2 billion yes than yesterday. Repo (REPO) and Aurora (AOA) are the major stand outs of the top 100 coins by market cap - up over 14% and 11% respectively in the past 24 hours. The value of Bitcoin (BTC) is right around $4,00 for roughly no change and a total market dominance of about 51.5%, and the value of Ethereum (ETH) is right above $150 for roughly no change in the past 24 hours as well. Market cap for the overall cryptocurrency market made no significant change, still resting around $136 billion total.

 

 

Major Headlines

 

Facebook Messenger Sending Crypto?

 

There has been a great deal of talk and rumors about Facebook introducing a cryptocurrency over the past year. The company has been openly engaging a hiring process for Blockchain technology related jobs, but has made no official announcements regarding their plans, and certainly nothing pertaining to a cryptocurrency. However, one startup has developed a method to use Facebook Messenger to send three popular cryptocurrencies. The Lite.IM system allows for transfers of Bitcoin, Ethereum, Litecoin and its own native currency, ZTX. The process does not reveal any user information at any stage of a transaction. This is the second implementation of their program, where it was first used with the Telegram messenger app. They have no major business plans for the service, but are instead fueled by the loftier goals of cryptocurrency: “driven by a vision of what the world might look like if the founding ideals of the cryptocurrency revolution were actually realized”

 

NANO and Bitgrail Lawsuits

 

Both the altcoin network Nano (NANO) and the cryptocurrency exchange Bitgrail have been charged with two lawsuits from American firms. One of the firms, Silver Miller, was created with the sole focus of lawsuits relating to cryptocurrencies. The other firm in involved is a securities law firm called Levi & Korsinsky. Against Nano, they are presenting a class action lawsuit which represents James Fabian. It alleges that Nano and “key members of its core team” violated federal securities laws by suggesting their users use BitGrail. They describe the exchange as “little known, and severely troubled.” It was almost one year ago that $180 million worth of NANO (at the time of the event) went missing from the exchange. The lawsuit alleges that the CEO of BitGrail was a piece of this theft. Their solution seems somewhat far fetched - asking that Nano to perform a ‘rescue fork’ to form  a new, replacement cryptocurrency in a way which would compensate the losses of those involved.

 

KodakONE Is Coming

 

Last year Kodak announced big plans related to blockchain technology and it seems like their product may soon be released. The company lost out in the digital transition of photography film, but is looking to recapture part of the industry with blockchain. They have developed a platform for licensing and claiming image rights. They report that their beta platform has already generated over $1 million in simply the testing stages. The network will perform Image Rights Management Services for image copyright protection, monetization and distribution streams secured via blockchain.

 

 

Top 5 Gainers

 

CariNet (CIT) +115.87% at $0.005066

Quantis Network (QUAN) +82.04% at $0.143293

UnlimitedIP (UIP) +65.69% at $0.003934

Webcoin (WEB) +63.96% at $0.009691

EvenCoin (EVN) +61.74% at $0.682536

 

 

Top 5 Losers

 

DWS (DWS) -34.51% at $0.003465

WXCOINS (WXC) -30.18% at $1.40

4New (KWATT) -29.50% at $0.004014

Octoin Coin (OCC) -28.99% at $0.103930

OceanChain (OCC) -19.42% at $0.000321

 

 

New Coins Listed

 

DragonChain (DRGN) listed to Bittrex International

 

 

 

By: BGN Editorial Staff

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