General Market Outlook
The market made no significant change for the majority of the weekend, trending right around $130 billion total market cap value, but has recently begun a mild downtrend. More coins are now in the negative than positive. Trading volume had slowed to trending around $22 billion in 24 hours over the weekend, but has risen proportionally to the market change recently and is now back to almost $28 billion in 24 hours. MOAC (MOAC) and PIVX (PIVX) are the major stand outs of the top 100 coins by market cap - up over 14% and 4% respectively in the past 24 hours. The value of Bitcoin (BTC) is just under $3,800 for -3.0% and a total market dominance of 52.6%, and the value of Ethereum (ETH) is roughly $125 for -6.0% change in the past 24 hours. Market cap for the overall cryptocurrency market declined by $4 billion, falling just below $126 billion total.
Global ATM Provider Integrating Blockchain
Alhamrani Universal is the largest ATM provider in Saudi Arabia. The company is now working with ShoCard to incorporate new methods for user authentication. ShoCard is a blockchain-based identity company that has developed methods to integrate facial recognition and the cryptographic security of a blockchain network. The new ShoCard ATMs will use five-factor authentication, and be able to communicate across banks and the ShoCard blockchain to confirm an individual’s identity without accessing the bank’s database. The prototype is underway, and the companies expect working products to launch soon. “Digital transformation is a key pillar of Saudi Arabia’s Vision 2030 and collaborating with trusted technology partners such as ShoCard allows us to offer solutions that meet ever-growing demands for innovations.” - Tariq Abdat, CEO of Alhamrani Universal.
U.S. Federal Reserve Addressing Cryptocurrency Market
Throughout the year, the U.S. Federal Reserve conducts supervisory stress tests to help prepare for potential negative market conditions and help influence positive decisions to avoid those outcomes. In their most recent address, the group cited the Bitcoin market as a “salient” market risk to be taken into account for future market conditions. “Together, the Dodd-Frank Act supervisory stress tests are intended to provide company management and boards of directors, the public, and supervisors with forward-looking information to help gauge the potential effect of stressful conditions on the ability of these large banking organizations to absorb losses, while meeting obligations to creditors and other counterparties and continuing to lend.” - U.S Federal Reserve
Binance DEX Incentives
Just days from the highly anticipated launch, Binance has announced serious incentives for using their new decentralized exchange platform. The company will give away $100,000 USD worth of Binance Token (BNB) in rewards for participating the the testnet. They will be awarded through two trading competitions on the new exchange - “Token Competition for Healthy Price Volatility” and “Absolute Return Competition.” Users will be eligible by holding at least one BNB in their account. Each can register up to 20 Binance Chain addresses in order to increase their chances in the competition.
Top 5 Gainers
Pepe Cash (PEPECASH) +76.02% at $0.010028
PiplCoin (PIPL) +61.18% at $0.003150
Stakinglab (LABX) +52.27% at $3.12
ELA Coin (ELAC) +51.85% at $0.048254
Red Pulse Phoenix (PHX) +41.12% at $0.014331
Top 5 Losers
S4FE (S4F) -24.24% at $0.441907
Volt (ACDC) -23.59% at $0.000637
4NEW (KWATT) -21.72% at $0.001256
Arionum (ARO) -20.18% at $0.004164
Unibright (UBT) -19.80% at $0.026786
New Coins Listed
BlockNet (BLOCK) listed to FEX
LikeCoin (LKE) listed to LiveCoin
By: BGN Editorial Staff