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Crypto Market Update (18 March 2019)

March 18, 2019

 

General Market Outlook

 

Market cap for the overall cryptocurrency market rose over the weekend, and has now made primarily sideways movement over the past 24 hours. A greater number of course are showing negative change, but with mostly small percentages, and trading volume has steadily increased by over $3 billion, now trending between $29 and $30 billion in 24 hours. Enjin Coin (ENJ) and Kyber Network (KNC) are the major stand outs of the top 100 coins by market cap - up over 19% and 6% respectively in the past 24 hours. The value of Bitcoin (BTC) rose over $4,000 over the weekend, and has since not made significant movement, while the total market dominance decreased further to 50.8%, and the value of Ethereum (ETH) is right at $140 for -1.0% change in the past 24 hours. has not made significant change in the past 24 hours, now trending just under $140 billion total.

 

 

Major Headlines

 

Blockchain Private Business Legal Status In France

 

Much of the processes for existing clerical work is still rooted in the necessities of a paper based system. With blockchain networks, transactions are able to incorporate a myriad of data pertaining to any number of related factors. Though most understand it through Bitcoin, the Court Clerk Offices throughout france will soon be utilizing a blockchain based network to delineate legal status for private businesses. They developed the platform on the Hyperledger blockchain built by IBM. Previously updates to the data involved could take several days, but changes to a live blockchain network are nearly instant. “This initiative is a first in the justice sector in France and is a perfect example of blockchain’s role in helping regulated professions as they transform. Blockchain’s qualities are ideal for this use, improving the clerks’ business processes and adapting to the ever-changing nature of their missions.” - Vincent Fournier, senior manager for blockchain at IBM France.

 

Bolsa de Madrid Utilizing Blockchain Tech

 

The largest stock exchange in Spain will soon release added features to their exchange platform facilitated by a blockchain network. They expect the platform to go live by the end of this year. The system is designed to certify collateral pledges. The proof of concept (PoC) was developed by BME’s in-house distributed ledger technology division called DLT-Lab. The group worked closely with regulators and other financial institutions to make sure launch would progress smoothly. So far, the result of testing “has shown a reduction in the total times of end-to-end processes exceeding 80 percent, as well as the potential to radically improve the participants’ operational and risk management. The system allows market participants to avoid exchanging paper certificates and monitor the process in real time” - Exchange representative

 

Bitfury Lighting Up Lightning Network

 

The Bitcoin Lightning Network is touted as the most feasible way for the Bitcoin blockchain to become widely used. It is essentially a secondary layer to the root network, which allows transactions to be completed nearly instantly. It reduces some of the security aspects of the original technology at this layer, however it is meant for everyday type payments of small amounts. The Bitfury Group is now working with payment processor HadePay to bring lightning network-based bitcoin payments to more merchants in the U.S., Canada and the EU. Bitfury directly integrated its web-based lightning network Peach Merchant API (application programming interface) with HadePay’s platform. Businesses can now accept payments over the lightning network. After a payment is made, merchants can convert Bitcoins into another currency through HadePay’s platform instantly.

 

 

Top 5 Gainers

 

United Bitcoin (UBTC) +139.13% at $3.54

Lightning Bitcoin (LBTC) +128.38% at $9.25

Seele (SEELE) +44.24% at $0.009208

Spindle (SPD) +39.10% at $0.000805

LatiumX (LATX) +37.93% at $0.021485

 

 

Top 5 Losers

 

Polis (POLIS) -37.31% at $0.788501

Influence Chain (INC) -27.21% at $0.017360

Dignity (DIG) -25.25% at $0.001891

RealTract (RET) -23.86% at $0.000066

CasinoCoin (CSC) -21.07% at $0.000278

 

 

New Coins Listed

 

Revain (R) listed to LiveCoin

MTMGaming (MTM) listed to ZBG

KickCoin (KICK) listed to BitMart

 

 

 

By: BGN Editorial Staff

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