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Crypto Market Update (10 January 2019)

January 10, 2019

 

General Market Outlook

 

The market has made a strong downturn with nearly all coins are red. However, there are still some coins with strong positive gains, and trading volume has risen sharply from $15 billion to nearly $22 billion in 24 hours. Aurora Coin (AOA) and Maximine Coin (MXM) are the major stand outs of the top 100 coins by market cap - up over 11% and 8% respectively in the past 24 hours. The value of Bitcoin (BTC) is just short of $3,700 for -9.0% and a total market dominance of 52.2%, and the value of Ethereum (ETH) is roughly $150 for -15.5?% change in the past 24 hours.

 

 

Major Headlines

 

New Bitwise ETF Proposal

 

Earlier this year Bitwise Asset Management proposed a Bitcoin based ETF which was reject by the U.S. securities and exchange commission. However, their new proposal addresses many fo the concerns raised by the regulatory group. The ETF is again based on Bitcoin’s price, but includes the price movement of Bitcoin’s hardforks as well. In addition, this ETF includes the use of a 3rd party registered cryptocurrency custodian to hold the cryptocurrencies involved. Further, valuation of the fund will be made by spot prices from exchanges and physically settled futures contracts, rather than cash-settled contracts as was the case with their previous proposal. NYSE Arca is designated as the first exchange to launch the product, a platform which is tailored to trading smaller stocks and options. “We are optimistic that 2019 should be the year that a bitcoin ETF launches.” - John Hyland, Bitwise global head of Exchange-Traded Funds

 

French Yellow Vests Planning Banking Demonstration

 

The French grassroots political movement the Gilets Jaunes “Yellow Vests” is playing off the Bitcoin Proof of Keys day, but in response to the fiat system. They hope to make a point to the banks by encouraging all interested people to pull their money from banks all at once. They are calling the event “Collectors’ Referendum.” The purpose is to remind both citizens and the banks that they don’t completely need to use banks to hold their money. The banks provide a service, which comes at a monetary cost, as well as cost on free use of one’s wealth. They have planned the event to coincide with the tenth anniversary of the Bitcoin genesis block, which includes a note about central banks providing a bailout to private corporations in 2008.

 

1st Security Token Trade On An ATS


SharesPost is a regulated alternative trading system (ATS), which has now become the first ATS to facilitate a secondary trade of security tokens on a blockchain network.They executed a secondary transaction with BCAP tokens issued by Blockchain Capital. They are ERC20 tokens of the ethereum blockchain, which represent shares in the Blockchain Capital III Digital Liquid Venture Fund. They did not disclose the size of the trade for reasons of confidentiality, but admit that it was not a very large transaction, as it is only part of a proof-of-concept. OpenFinance Network, another regulated ATS and broker-dealer, already offers BCAP tokens for trade, but does not also act as custodian of the tokens. “Now companies can efficiently raise capital and provide liquidity globally by leveraging blockchain technology in a way that complies with securities laws. We are very excited to be connecting the more than 50,000 institutional and individual accredited investors using the SharesPost marketplace with companies and funds like Blockchain Capital that are leading the way.” - Greg Brogge, SharesPost founder and CEO r
 

 

Top 5 Gainers

 

Particl (PART) +59.20% at $4.06

SegWit2x (B2X) +52.44% at $0.000373

WXCOINS (WXC) +50.52% at $2.17

Engagement Token (ENGT) +50.03% at $0.000641

EncrypGen (DNA) +47.36% at $0.038607

 

 

Top 5 Losers

 

Tokugawa (TOK) -85.05% at $0.003921

Unlimited (UIP) -34.50% at $0.002284

Fire Lotto (FLOT) -31.78% at $0.019051

HyperQuant (HQT) -31.39% at $0.004027

Bigbom (TICK) -30.57% at $0.000632

 

 

New Coins Listed

 

Dex (DEX) listed to Livecoin

EtherInc (ETI) listed to HotBit

Flo (FLO) listed to Tokok

Zcash (ZEC) OTC trading on Galaxy Digital, Circle Trade, Cumberland, Genesis Trading

 

 

 

By: BGN Editorial Staff

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