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Crypto Market Update (14 March 2019)

March 14, 2019

 

General Market Outlook

 

The market has made a very mild uptrend over the past 24 hours. Coins are split between positive and negative gains, but volatility has dropped compared to the past several days. Trading volume is still high, but has now slowed to between $27 billion and $28 billion in 24 hours. Qtum (QTUM), Lisk (LSK) and WanChain (WAN) are the major stand outs of the top 100 coins by market cap - up over 13%, 12% and 11% respectively in the past 24 hours. The value of Bitcoin (BTC) is now trending just over $3,900 for +0.5% and a total market dominance dropping to 51.1%, and the value of Ethereum (ETH) is still trending between $130 and $135 for no significant change in the past 24 hours. Market cap for the overall cryptocurrency market gained almost $1 billion, rising to $135 billion total.

 

 

Major Headlines

 

Abra Wallet Introduces Cryptocurrency Withdrawals

 

Many cryptocurrency exchanges offer investors exposure to the market through indirect trading of the coins. Because of financial regulations in most countries, for a company to manage, transact or deal in any way directly with cryptocurrency requires specific licenses. Previously, users of the Abra wallet could not actually use ETH as a cryptocurrency. It was simply an investment, and could not be withdrawn form their platform. “By adding native ether support, Abra users will now be able to easily buy and move ether from other wallets to the Abra app. This also opens up the potential to use ETH as an on-ramp to invest in the other assets listed on Abra.” - Abra CEO and founder Bill Barhydt. The company plans to add support for many other tokens as well.

 

Binance Allows Credit Card Purchases

 

Last year, the concept of purchasing cryptocurrencies with credit card was challenged by many of the major companies. Because of this, many exchanges quickly retracted the feature allowing users to make cryptocurrency exchanges by credit card. There was no final solution to this problem, and some credit card companies still impose their sanction of credit card purchases for cryptocurrencies, but it varies from bank to bank and country to country. The native cryptocurrency wallet for Binance, Trust Wallet, is now offering credit card purchases for XRP, bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC) and ether (ETH) with “major” credit and debit cards. “Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.” - Viktor Radchenko, founder of Trust Wallet.

 

CipherTrace Continues Growth

 

Just last month CipherTrace finalized a funding round from many of the big names in the cryptocurrency industry. CipherTrace raised $15 million, led by Aspect Ventures with further funds  form Mike Novogratz’s Galaxy Digital, Neotribe Ventures and WestWave Capital. The startup focuses on analytics and forensics products for cryptocurrencies and blockchains. The small country of Malta has brought on CipherTrace for technical help to address the risk of financial crimes in its licensed digital asset industry. “Being strongly aware of the money laundering and financing of terrorism risks associated with entities operating in this sphere, the decision has been taken to engage the services of CipherTrace in order to reduce fraud and detect transactions with illegal sources of funds.” - The Malta Financial Services Authority CFO

 

 

Top 5 Gainers

 

ICOBay (IBT) +1468.94% at $0.000314

Profile Utility Token (PUT) +120.94% at $0.016724

Webcoin (WEB) +86.37% at $0.006033

TCoin (TCN) +39.82% at $0.048801

Crystal Token (CYL) +37.81% at $0.074923

 

 

Top 5 Losers

 

XPA (XPA) -34.10% at $0.017917

DAPS Token (DAPS) -29.87% at $0.000084

bitJob (STU) -29.52% at $0.003234

Quantis Network (QUAN) -28.77% at $0.090030

NEXT (NET) -28.65% at $1.41

 

 

New Coins Listed

 

Online (OIO) listed to BitMart

Maximine Coin (MXM) listed to LiveCoin

Loopring (LRC) listed to LiveCoin

Decentraland (MANA) listed to LiveCoin

Crypto.com Chain (CRO) listed to IndoDax

 

 

 

 

By: BGN Editorial Staff

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