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October 16, 2018

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Crypto Market Update (15 January 2019)

January 15, 2019


General Market Outlook


The market has made no significant change overall, but has been very active in the past 24 hours. Coins are divided between positive and negative gains, with many still seeing strong positive growth. Trading volume remains high as well, dropping just $1 billion to about $16 billion in 24 hours. ChainLink (LINK) and WAX (WAX) are the major stand outs of the top 100 coins by market cap - up over 16% and 15% respectively in the past 24 hours. The value of Bitcoin (BTC) is just below $3,700 for -1.0% and a total market dominance of 52.4%, and the value of Ethereum (ETH) is just below $130 for -1.0% change in the past 24 hours. Market cap for the overall cryptocurrency market declined by less than $2 billion, falling to $123 billion total.



Major Headlines


Totle DEX Aggregator Still Developing


One of the most important shifts in cryptocurrency trading will be a movement to decentralized exchanges. The issues continually raised against the industry currently all revolve around security. This only becomes an issue because most exchanges now are centralized. This method has allowed hacks to break down the centralized security systems. However, with decentralized exchanges, users maintain the security built in to the given cryptocurrencies by holding them by their own means, instead of depositing to an exchange account. Totle has been in development for over a year, as a further step on top of a decentralized exchange. The platform essentially brings together the trading data of a multitude of decentralized exchanges to increase liquidity. The company has just completed a $1 million dollar funding round headed by Arrington XRP, a crypto-focused hedge fund created by TechCrunch founder Michael Arrington, NEO Global Capital (NGC) and Goren Holm Ventures. “Totle supports many use cases including in-app exchange in wallets; payments and transactions for business; arbitrage exploitation by hedge funds and trading platforms; and rebalancing for portfolio managers.”


Money Markets Growing


Equity funds and bond funds have dropped significantly in the past year with a growing presence of money market stocks. Money market stocks have reached their highest total market cap value since 2010. Investors are putting more value in the security of these stocks in light of the growing volatility in the traditional fiat markets. Most of the last 8 years the total was roughly $2 trillion, but has not grow to roughly $3 trillion. With investors producing this change, it’s possible that the growth will spill into cryptocurrency. Because it is a new asset class, there is a big knowledge gap. However, if investors begin to understand the benefits that provide similarities to both equity funds as well as money market stocks - the cryptocurrency industry could see future growth.


In-app Currencies


Many video game platforms now have integrated the ability to pay with in-app currencies or make donations to other users with the currency. Some of these platforms even allow cryptocurrencies. One of the most popular games that involves this capacity is Twitch. One play who makes money by streaming his game play recently received a donation of 20 bitcoins. This is equal to about $73,000 at the time. - He said on Twitter- “Thank you to my mysteriously benefactor whoever you are, genuinely a life changing amount of money that I or nobody deserves but look what happened.” Popularity of cryptocurrency for avid game players will likely continue to grow, because their use is easily facilitated.



Top 5 Gainers


RoBET (ROBET) +153.50% at $2.02

StarCoin (KST) +113.58% at $0.007018

VITE (VITE) +57.91% at $0.022852

Tierion (TNT) +46.97% at $0.018044

WITChain (WIT) +41.59% at $0.000058



Top 5 Losers


Octoin Coin (OCC) -50.14% at $0.079908

Webcoin (WEB) -33.95% at $0.003600

USDCoin (USC) -28.02% at $0.631187

LRM Coin (LRM) -24.62% at $0.688782

United Bitcoin (UBTC) -23.91% at $1.37



New Coins Listed


Axpire (AXP) listed to QIEX

Tron (TRX) listed to OKCoin

Vite (VITE) listed to Bittrex International




By: BGN Editorial Staff

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