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Crypto Market Update (31 January 2019)

January 31, 2019

 

General Market Outlook

 

The market has begun a slight downward trend, but is affecting the market very evenly. More coins are seeing negative change than gain, but there are very few coins seeing strong positive or negative change. Trading volume has remained fairly high between $17 billion and $18 billion in 24 hours. Bytom (BTM) and Electroneum (ETN) are the major stand outs of the top 100 coins by market cap - up only over 3% and 2% respectively in the past 24 hours. The value of Bitcoin (BTC) is roughly $3,450 for -1.0% and a total market dominance of 53.3%, and the value of Ethereum (ETH) is just over $105 for -2.0?% change in the past 24 hours. Market cap for the overall cryptocurrency market declined by less than $3 billion, consolidating between $113 and $114 billion total.

 

 

Major Headlines

 

Tagem Printing Marshall Island Bank Notes

 

Last year in may a company based out of Switzerland began producing Bitcoin bank notes. The notes look like a cross between a credit card and a modern fiat currency physical bill. They are sleek stylish, and can be exchanged freely in quantities of 0.01 and 0.05 BTC, which is about $35 or $170 USD. Each note is essentially a BTC wallet that holds the delineated value of BTC. The Republic of the Marshall islands announced last year that they planned to convert their currency to a digital currency. They have now selected Tangem as the company who will produce the bank notes for them. The republic’s Sovereign (SOV) digital currency, will launch as an alternative to their legal tender alongside the U.S. dollar. They describe the financial technology as “controllable mechanism of currency issuance and circulation for the state.”

 

Binance Accepting Credit Card Payments

 

Major credit card companies began banning the use of their credit cards for purchasing cryptocurrencies last year, raising questions of responsibility to consumers vs. personal freedom for citizens. Binance, which is one of the worlds most active cryptocurrency exchange partnered with an Israel-based payments processing firm Simplex to make the change happen. The exchange will accept Visa and MasterCard credit card through Simplex for users who want to purchase bitcoin (BTC), ether (ETH), litecoin (LTC) and XRP. “The crypto industry is still in its early stages and most of the world’s money is still in fiat… Building fiat gateways is what we need now to grow the ecosystem, increase adoption and introduce crypto to more users.” - Binance CEO Changpeng Zhao. Iraq, Cuba Afghanistan and Libya and six states U.S. stats (New York, Connecticut, Hawaii, Georgia, New Mexico and Washington) are not provided the service. Simplex charges 3.5% of a transaction with a $10 minimum. The daily limit is $20,000, and the monthly maximum is $50,000 per user.

 

Brave Provided Free Cheddar Content

 

In line with a string of announcements for improvement to their web browser and its services, the Brave browser is now offering access to premium content on Cheddar for free to its user base. “Cheddar viewers are obsessed with crypto; we even have a show dedicated to it – The Crypto Craze. The idea of unlocking our premium feeds for Brave users via crypto funding, with no sign-up, seemed like a natural way to engage a passionate community.” - Jon Steinberg, Cheddar’s founder and CEO. Access will be available for the next three months.

 

 

Top 5 Gainers

 

TraDove B2BCoin (BBC) +660.90% at $0.013262

Bitcoiion (B2G) +344.75% at $0.118098

Exosis (EXO) +107.11% at $0.566376

Chronologic (DAY) +52.44% at $0.287258

Ti-Value (TV) +44.89% at $0.043678

 

 

Top 5 Losers

 

MyToken (MT) -72.96% at $0.001153

DACC (DACC) -35.67% at $0.000124

DEXTER (DXR) -34.13% at $67.42

Consentium (CSM) -33.32% at $1.30

B2BX (B2B) -27.36% at $0.197246

 

 

New Coins Listed

 

Bethereum (BETH) listed to CoinTiger

Quant (QNT) listed to Digifinex

BitShares (BTS) re-listed to BittrexUS

 

 

 

By: BGN Editorial Staff

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