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Crypto Market Update (29 March 2019)

March 29, 2019

 

General Market Outlook

 

The market has made no significant change. Coins are split between positive and negative growth, while some top 100 coins by market cap are still posting large double digit percentage gains. Trading volume has risen by $3 billion now trending between $36 and $37 billion in 24 hours. REPO (REPO), Basic Attention Token (BAT) and Tezos (XTZ) are the major stand outs of the top 100 coins by market cap - up over 32%, 26% and 18% respectively in the past 24 hours. The value of Bitcoin (BTC) is still trending right around $4,100 for no significant change and a total market dominance of 50.3%, and the value of Ethereum (ETH) is still hovering around $140 for no significant change in the past 24 hours as well. Market cap for the overall cryptocurrency market is still trending right between $143 and $144 billion.

 

 

Major Headlines

 

More Tether Controversy

 

Earlier this month, Tether and the organization behind Tron (TRX) announced that Tether (USDT) would become the native token for Tron’s network. This was coupled with the company reinforcing that the stablecoin is backed full in 1:1 ratio of fiat dollars to Tether dollars. This had previously been a recurring issue for the company. However, public individuals have brought to light a minor change in the verbage used on the Tether website. The company seems to have changed how the stablecoin is backed, now using assets other than fiat dollars: “Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.” How stable is a stablecoin that is backed by unstable assets?

 

Yahoo! Japan Exchange Operational

 

The cryptocurrency exchange Taotao, which was formerly known as BitARG is now live for trading. 40% of BitARG was acquired by Yahoo! Japan last year for an estimated 2 billion yen (roughly $19 million), revealing clear plans for the company to enter the cryptocurrency space. Now Taotao, the exchange holds Bitcoin (BTC) and Ethereum (ETH) for direct trading. Margin trading is available for those two, along with Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP).

 

Twitch Removes Crypto Payments

 

Five years ago Amazon purchased the video game focused streaming service Twitch. The platform also functions as a social media platform for the gaming community. Last year, Twitch began accepting payments for their services in the form of Bitcoin (BTC) and Bitcoin Cash. Although this is an uncommon form of payment for mainstream consumer products, even more oddly, Twitch accepts Subway Sandwich Restaurant gift cards as payment as well. For BTC and BCH, the company was using BitPay as their payment processor. The twitch platform also facilitates third party integrations, for features such as tipping other users. One company, Streamlabs, allowed users to use BTC for this process, but also removed that ability recently.

 

 

Top 5 Gainers

 

Etheera (ETA) +163.43% at $0.000189

Eterbse (XBASE) +154.00% at $0.009802

AICHAIN (AIT) +126.65% at $0.004727

Jury.Online Token (JOT) +66.17% at $0.017595

Next.exchange (NEXT) +60.42% at $0.590169

 

 

Top 5 Losers

 

CoTrader (COT) -34.96% at $0.000111

Influence Chain (INC) -31.98% at $0.025278

DEX (DEX) -28.44% at $0.027402

Cointorox (OROX) -26.56% at $0.057333

Elysian (ELY) -22.71% at $0.001854

 

 

New Coins Listed

 

Kolin (KOLIN) listed to SWFT Exchange

Kolin (KOLIN) listed to BITREE

PlayChip (PLA) listed to Bittrex International

Ignis (IGNIS) listed to ProBit

Zcash (ZEC) listed to Digifinex

 

 

 

By: BGN Editorial Staff

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