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Crypto Market Update (26 February 2019)

February 26, 2019

 

General Market Outlook

 

The market continues to consolidate with mixed movement of top coins, and significant changes for many others. Although there was overall small downward movement, some coins are showing strong positive gains, and trading volume remains high, trending between $28 billion and $29 billion in 24 hours. Enji Coin (ENJ) and Decentraland (MANA) are the major stand outs of the top 100 coins by market cap - up over 47% and 42% respectively in the past 24 hours. Bitcoin (BTC) is right around  $3,850 for -1.0% and a total market dominance of 52.0%, and Ethereum (ETH) is right at $135 for 3.0% change in the past 24 hours. Market cap for the overall cryptocurrency market lost just $1 billion, falling to $130 billion total.

 

 

Major Headlines

 

Electroneum Wallet - Smartphone

 

One of the most widely used cryptocurrency mobile wallets is called Electroneum. The platforms simple interface is applicable to a wide range of cryptocurrencies, and can be used on almost any operating system. The company has no released an Android smartphone that is tailored to cryptocurrency useds. The phone “M1” is a Google Mobile Services (GMS)-certified smartphone that will be sold for only $80 USD. It has a standard 4G capability, 8 GB–32 GB of storage and two SIM slots, and is powered by a Quad Core 1.3 Ghz processor. The phone comes with a built in mining service to reward phone owners. At launch the phone will only mine Electroneum’s native token ETN, with the company claiming that it will yield as much as $3 per month. The ETN tokens can be used to purchase services such as mobile top-ups, online services and shopping. It can also be traded  on exchanges. It will first launch in South Afr5ica. “South Africa was an obvious choice for us. We carried out a large survey in the country and found that 97 percent of those who responded said they would like to use ETN to pay for mobile airtime and data.” - CEO, Richard Ells

 

Australian Government Blockchain Trial

 

An experiment with the use of blockchain technology for cross-border payment settlements is now underway for the Australian Transaction Reports and Analysis Centre (AUSTRAC). In a partnership with the Swinburne University of Technology in Melbourne, they hope to automate much of the process.  to build a prototype for the trial. The testing phase will likely last one year. The focus is how smart contracts can facilitate a more streamlined process for reporting on transactions with the International Monetary Fund. Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act mandates that institutions or specific categories of individuals involved in a cross-border transfer of funds – including payer, sender and beneficiary institution – must report details of the transaction within 10 days. All this information could be included in a blockchain smart contract.

 

Thai Government Allowing Blockchain-Securities

 

Thailand’s National Legislative Assembly approved an amendment to the Securities and Exchange Act which legalizes issuance of tokenized securities such as stocks and bonds. The next step is for the Securities and Exchange Commission of Thailand to amended their current structure as well. The changes will allow businesses to be licensed to operate as depositories of securities and digital tokens. Prior to this only the Thailand Securities Depository Co Ltd, a subsidiary of the Stock Exchange of Thailand (SET) could handle this type of digital asset.

 

 

Top 5 Gainers

 

The Currency Analytics (TCAT) +215.69% at $0.007125

CyberFM (CYFM) +103.92% at $0.000005

Typerium (TYPE) +56.17% at $0.000541

Enji Coin (ENJ) +53.58% at $0.088307

CWV Chain (CWV) +52.11% at $0.004191

 

 

Top 5 Losers

 

Eurocoin Token (ECTE) -28.98% at $0.098116

Blacer Coin (BLCR) -27.06% at $17.83

KWHCoin (KWH) -25.38% at $0.000032

MIR Coin (MIR) -24.51% at $0.016252

Profile Utility Token (PUT) -23.55% at $0.005436

 

 

New Coins Listed

 

MIR Coin (MIR) listed to HanBitCo

 

 

 

By: BGN Editorial Staff

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