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Crypto Market Update (11 April 2019)

April 11, 2019

 

General Market Outlook

 

The market has made a significant downtrend after several days of positive movement. The majority of coins today are in the negative, but trading volume has steadily increased by $14 billion, now moving between $60 billion and $63 billion in 24 hours. Lambda (LAMB) and Crypto.com Chain (CRO) are the major stand outs of the top 100 coins by market cap - up over 32% and 17% respectively in the past 24 hours. The value of Bitcoin (BTC) is now trending closer to $5,000 for -4.0% and a total market dominance of 52.0%, and the value of Ethereum (ETH) is right at $165 for -8.5% change in the past 24 hours. Market cap for the overall cryptocurrency market lost  $10 billion, falling to just under $172 billion total.

 

 

Major Headlines

 

R3, Barclays, RBS Successful Blockchain Trial

 

A blockchain network trial focused on property transactions developed between Barclays, Royal Bank of Scotland (RBS), enterprise blockchain firm R3, along with other participants has been completed. The trial resulted in significantly faster transaction settlements. The technology fueling the project was created by Instant Property Network (IPN), an organization grown from the greater R3 blockchain development team. Real estate transactions have the potential for massive efficiency improvements, as current systems involved an email and paper-based system involving as many as 8 different parties. This can all be streamlined by the ability of distributed ledgers to interact and confirm various transactions in an automated fashion. “What has made a real difference here is that R3 has brought representatives of all the key parties involved in the process together, so as a result we can see the potential for a network of this kind to improve transparency and speed for customers, and reduce cost and complexity for all involved.” - Dan Salmons, director for mortgage innovation at RBS

 

Russian State-Owned Gas Company Blockchain Integration

 

Gazprom is one of the largest fuel companies in the country of Russia, and is looking to integrate blockchain technology to increase their business efficiency. The initial goal is to use the technology to execute and monitor business contracts. Last week the Gazprom CEO, Alexey Miller met with Russian prime minister Dmitry Medvedev stating that they are now “ready to start implementing the process” of digitizing the gas supply process using. “We have developed a prototype of a technological platform to automate the process of concluding, monitoring and executing contracts. This system also provides for automated arbitrage and calculation of payments for gas.” - Alexey Miller

 

Coinbase - Top 50 U.S. Employee

 

According to the newest ranking of U.S. employers reported by Linkedin, Coinbase has hurdled JPMorgan, becoming number 35 on the list, while JPMorgan fell to number 44. Coinbase focuses on hiring staff in engineering, IT and human resources roles. Their current employee total is about 600 employees in the United States. Interestingly as well, the exchange’s employees can choose to be paid partially or entirely in Bitcoin. Around 40% have some portion of their salary allocated to cryptocurrency. The firm offers employees up to $5,000 a year for other novel ways to compensatio, such as egg-freezing. They see major benefit, allowing women to focus on their career, while saving time and conceive children later.

 

 

Top 5 Gainers

 

SuperEdge (ECT) +468.80% at $0.000664

CoinToGo (2GO) +53.57% at $0.007667

Soma (SCT) +43.36% at $0.042558

PTON (PTON) +30.48% at $0.001613

Lambda (LAMB) +28.96% at $0.130094

 

 

Top 5 Losers

 

Santiment Network Token (SAN) -34.98% at $0.577330

Ace (TokenStars) (ACE) -33.85% at $0.029507

StarChain (STC) -32.74% at $0.007456

United Bitcoin (UBTC) -31.69% at $1.91

AICHAIN (AIT) -31.29% at $0.002059

 

 

New Coins Listed

 

Kin (KIN) listed to P2PB2B

Anker Network (ANKR) listed to Huobi Korea

Bitcoin (BTC) / USDt margin trading listed to Bitfinex

Ethereum (ETH) / USDt margin trading listed to Bitfinex

 

 

 

By: BGN Editorial Staff

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