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Crypto Market Update (04 March 2019)

March 4, 2019

 

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.

 

 

Major Headlines

 

 

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

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