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Crypto Market Update (20 March 2019)

March 20, 2019

 

General Market Outlook

 

The is in a consolidation phase, making no major movements. Coins are split between positive and negative gains, still with some of the top 100 coins showing double digit positive growth, while trading volume has risen by almost $3 billion, to over $32 billion in 24 hours. GXChain (GXC), Huobi Token (HT) and Tezos (XTZ) are the major stand outs of the top 100 coins by market cap - up over 18%, 17% and 15% respectively in the past 24 hours. The value of Bitcoin (BTC) is again trending at $4,050 for no significant change, along with a total market dominance of about 50.8%, and the value of Ethereum (ETH) is just under $140 for -0.5% change in the past 24 hours. Market cap for the overall cryptocurrency made no significant change, still trending just over $140 billion total.

 

 

Major Headlines

 

Tendermint $9 Million Funding

 

A fresh startup called Tendermint has completed a series A funding round for a total of $9 million, which was led by the technology-focused venture capital firm Paradigmm, along with contributions form Bain Capital and 1confirmation. The focus of their business is to produce great interoperability between blockchain networks. The investment will go toward supporting development of the firms proof-of-stake “Cosmos Network,” as well as expanding their team and making the business model sustainable. “Blockchain technology is an incredible innovation that has unfortunately been hamstrung by a series of limitations, including scalability problems, a lack of usability and myriad governance and environmental issues” - Jae Kwon, CEO of Tendermint and contributor of Cosmos

 

Avent Now Accepts Crypto

 

One of the lesser known, but major players in the electronic components industry is Avnet. The company is the 3rd largest technology company in the U.S. next to Microsoft and Dell. They will now be accepting Bitcoin and Bitcoin Cash payments for their proeucts and services, using BitPay. “We’re working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not how to pay for them” - Avnet vice president of demand creation Sunny Trinh.

 

Canada Pursuing Greater Exchange Clarity

 

Both Ethereum and EOS have strong Canadian roots. The country has been a hub of a great deal of blockchain technology development over the years, and this is expressed in the country’s government. The regulatory systems have consistently pushed for research and development of the technology and the best processes for how to properly integrate it into their established system of laws. The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) recently produced a consulitory report, seeking further help for their work. They are seeking input from the fintech community on how regulatory requirements can be developed for cryptocurrency platforms. “We must adapt to innovation, and provide clarity to the market about how regulatory requirements might best be tailored and applied to these unique business models, while maintaining investor protection.” Andrew J. Kriegler, president and CEO of the IIROC.

 

 

Top 5 Gainers

 

Coni (CONI) +125.96% at $0.032444

Webcoin (WEB) +124.42% at $0.008521

V Systems (VSYS) +60.34% at $0.057875

Bitcoin Private (BTCP) +54.70% at $0.410812

TrueChain (TRUE) +38.36% at $0.544296

 

 

Top 5 Losers

 

Boltt Coin (BOLTT) -74.50% at $0.823934

SuperEdge (ECT) -37.86% at $0.000033

United Bitcoin (UBTC) -35.64% at $4.08

NEXT (NET) -32.10% at $1.20

AI Doctor (AIDOC) -24.95% at $0.004376

 

New Coins Listed

 

Komodo Platform (KMD) added to CoinDAQ Payment system

NEXT (NET) listed to LiveCoin

Smarlands Wallet (SLT) listed to Bittrex International

 

 

 

By: BGN Editorial Staff

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