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Crypto Market Update (01 March 2019)

March 1, 2019

 

General Market Outlook

 

The market is now consolidating. Coins are split between positive and negative gains, with gains not as strong as the prior 24 hours of trading. Trading volume has had more variability than usual, trending in a $3 million gap between $25 billion and $28 billion in 24 hours. Digitex Futures (DGTX) and Huboi Token (HT are the major stand outs of the top 100 coins by market cap - up over 17% and 12% respectively in the past 24 hours. Bitcoin (BTC) is right around  $3,900 for no significant change and a total market dominance of 51.9%, and Ethereum (ETH) is right at $140 for -1.0% change in the past 24 hours. Market cap for the overall cryptocurrency market rose by under $1 billion, no $131billion total.

 

 

Major Headlines

 

One-Way Lightning Network Transfers

 

The Bitcoin Lightning Network (LN) is arguably the best opportunity to make the Bitcoin network accessible and usable for almost any purpose - daily currency or store of value for the general population. It is cheap to own and operate your own node, but the programming associated with making transfers are somewhat clunky at this time. Further, the way it works currently is that in order to make a transaction, the sender cannot directly send money. Essentially it requires that the recipient sends an invoice to the sender who can agree to or deny the request, and that invoice can only be used one time. However, recently an open-source developer has created a rough draft of a process that would allows senders to simply send Bitcoin to another LN user.

 

Cryptocurrency Coming To Biggest Social Media Platforms

 

A New York Times article reports that Facebook, Telegram and Signal are all looking to launch native cryptocurrencies. This choice seems obvious, as currently the process for sending and receiving money is a proven market with apps like Square and Venmo, but for social media platforms with active message systems, they are forced to give their cut of those transfers away. The Facebook project involves bringing an integrated transaction service to their messaging app, WhatsApp. News previously reported that it would likely be a stablecoin, rather than a true cryptocurrency. The interest is clear from Facebook through their hiring process as well. The company has 20 blockchain-related positions listed currently.

 

More Cryptocurrency Phone News

 

The blockchain network Pundi X has had their mobile device in development for over a year. The company is looking to add an even more complex feature set than their competitors such as the HTC Exodus or Electroneum’s $80 cloud mining phone. Rather than a cellphone with features tailored for cryptocurrency users, the device is truly a blockchain mobile phone. It operates on a blockchain network operating system developed by Pundi X. However, most recently they have announced that the phone will come dual-booted with both their blockchain operating system, as well as Android. The company plans to sell the device for $599, and to be launched by the end of 2019.

 

 

Top 5 Gainers

 

SnapCoin (SNPC) +671.84% at $0.045362

Almeela (KZE) +135.94% at $0.260446

HeartBout (HB) +105.55% at $0.017465

The Currency Analytics (TCAT) +66.96% at $0.004474

Optimal Shelf Availability (TICK) +39.99% at $0.015272

 

 

Top 5 Losers

 

S4FE (S4F) -64.21% at $0.395756

Everus (EVR) -39.93% at $0.011789

SafeInsure (SINS) -39.17% at $2.15

ATC Coin (ATCC) -33.36% at $0.011338

HyperQuant (HQT) -30.68% at $0.002545

 

 

New Coins Listed

 

Komodo Platform (KMD) listed to Huobi

 

 

 

 

By: BGN Editorial Staff

 

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