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Crypto Market Update (14 January 2019)

January 14, 2019

 

General Market Outlook

 

The market has made a strong positive movement recently. Many coins are in the green, with a substantial number of those seeing double digit growth.Trading volume has risen more than $3 billion, now roughly $17 billion in 24 hours. Revain (R) and ChainLink (LINK) are the major stand outs of the top 100 coins by market cap - up over 21% and 15% respectively in the past 24 hours. The value of Bitcoin (BTC) is just over $3,700 for +3.0% and a total market dominance of  52.4%, and the value of Ethereum (ETH) is right below $130 for +8.0% 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

 

Qtum Adds Atomic Swaps

 

The technology that has recently reached headlines for government probing is often referred to as atomic swaps. The most popular platform to employee this process is Shapeshift.io. The technology allows cryptocurrencies instantly without depositing the coins into a centralized exchange. The U.S. government has expressed that this time of exchange is potentially the foundation of illicit cryptocurrency transactions, because it allows for anonymity. Shapeshift.io was recently forced to add a step to the process where users must register with the service.

For Qtum, they have only implemented direct QTUM-to-BTC atomic swaps. It is facilitated by a process called Hash Time-Locked Contracts (HTLCs). This open source  technology was originally created by Decred, but was perfected for Qtum by a team of researchers at Columbia University. The organization granted the team $400,000 for the research.

 

U.S State Piloting Blockchain For Insurance

 

One of the most clear cut applications of blockchain technology is for insurance purposes. The amount of data involved with insurance services is huge, and is directly tied to payment services. With blockchain technology, much of the processes can be automated, and given a direct payment system that doesn’t require outside processing. The Vermont state government in the U.S. signed a memorandum of understanding to conduct a pilot program that brings a blockchain network to their insurance processes. The program will give  licensed insurance companies formed by one or more parent entities to provide self coverage an option to file registration and reporting documents using private blockchain technology. “This pilot will allow us to examine whether or not the application of blockchain technology for digital recordkeeping can improve aspects of the state regulatory process.”

 

Bittrex Adds OTC Trading

 

A new platform of 200 cryptocurrencies from Bittrex looks to offer “guaranteed pricing” for large trades valued $250,000 or more. OTC trading systems are different from ones like Coinbase - an example would be Robinhood or Circle invest. These systems do not actually give the user access to the cryptocurrency. They are indirectly trading the coins, and cannot actully withdraw them or use them for transactions of any kind. “With one of the most extensive selections of digital assets of any OTC desk available, this offering will be another way for Bittrex to further advance adoption of blockchain technology worldwide, while also providing our customers with price certainty and a fast and easy way to trade large blocks of digital assets.” -  CEO Bill Shihara

 

 

Top 5 Gainers

 

Agrello (DLT) +97.94% at $0.119333

All Sports (SOC) +53.12% at $0.004929

VIBE (VIBE) +42.26% at $0.039494

Autonio (NIO) +40.83% at $0.010110

CariNet (CIT) +36.74% at $0.019808

 

 

Top 5 Losers

 

FSBT API Token (SBT) -35.70% at $0.089946

DECENT (DCT) -35.30% at $0.054510

DWS (DWS) -32.74% at $0.003186

Crowdvilla Point (CROWD) -30.34% at $7.77

Timicoin (TMC) -26.84% at $0.035197

 

 

New Coins Listed

 

ColossusXT (COLX) listed to CoinPulse

 

 

 

By: BGN Editorial Staff

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