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Crypto Market Update (08 February 2019)

February 8, 2019

 

General Market Outlook

 

The market has made a strong, smooth reversal over the past 24 hours. Nearly all coins are in the green trading volume has risen by over $4 billion, now trending between $18 and $19 billion in 24 hours. Ark (ARK), Veritaseum (VERI) and Litecoin (LTC) are the major stand outs of the top 100 coins by market cap - up over 27%, 27% and 19% respectively in the past 24 hours. The value of Bitcoin (BTC) is just over $3,500 for +3.0% and a total market dominance of 53.0%, and the value of Ethereum (ETH) is nearing $115 for +9.5% change in the past 24 hours. Market cap for the overall cryptocurrency market gained $5 billion, rising to $117 billion total.

 

 

Major Headlines

 

Bithumb OTC Trading

 

One of the most active cryptocurrency exchanges over the past several years has been Bithumb in South Korea. The exchange has now launched a new form of OTC trading desk that matches buyers and sellers directly together. Rather than a typical exchange, it is more of a matchmaking service for institutional clients. Called Ortus, the new platform will require a strict onboarding processes, including know-your-customer (KYC) and anti-money laundering (AML) documentation. The platform will focus on clients in U.K., Hong Kong, Japan, Australia and Argentina, where they have physical offices. Ortus offers insured custody and transfers from a U.S.-based bank account. “Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service.” - Rahul Khanna, Bithumb’s director.

 

Ripple Gains More Educational Partners

 

One of Ripple’s most active programs over the past few months has been their blockchain research and development organization focused on university educational programs. It was launched in June 2018 with a total funding of $50 million from Ripple itself. Recently the program gained another 10 university partners including, Carnegie Mellon, Cornell, Duke, Georgetown, Morgan State, Kansas, Michigan and Northeastern universities in the U.S., and the National University of Singapore and the University of Sao Paulo internationally. The total group is now 29 universities around the world. “In less than a year, our initial UBRI partners hit the ground running with the launch of new research projects, events, course offerings and more.” -- Ripple’s SVP of global operations, Eric van Miltenburg

 

Italy Affirms DLT/Blockchain Definitions Bill

 

“Semplificazioni” defines the technical aspects of what a smart contract is and where it is valid in Italy. This bill also establishes that digital records stored on blockchain network or DLT network will be considered a legal validation of documents at the time of registration. The bill was approved by 275 votes in favor, 206 against and 27 abstentions. The Italian House of Representatives is notably looking to use the technology to improve the voting process. The M5S party is looking for researchers able to prove the efficacy of blockchain for voting.

 

 

Top 5 Gainers

 

INO Coin (INO) +401.55% at $0.853346

HempCoin (THC) +86.39% at $0.030801

DPRating (RATING) +48.08% at $0.000285

Scry.info (DDD) +44.73% at $0.025346

IGToken (IG) +44.13% at $0.000030

 

 

Top 5 Losers

 

The Midas Touch Gold (TMTG) -41.26% at $0.001884

Everus (EVR) -31.19% at $0.020897

Vertcoin (VTC) -27.22% at $0.269107

HalalChain (HLC) -21.19% at $0.009270

Everipedia (IQ) -20.71% at $0.002855

 

 

New Coins Listed

 

NKN Token (NKN) listed to Bittrex International

Kazucoin (KAZU) listed to Bitexlive

Emercoin (EMC) listed to DEEX

 

 

 

By: BGN Editorial Staff

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