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Crypto Market Update (12 April 2019)

April 12, 2019

 

General Market Outlook

 

The market has made a soft reversal from yesterday's downtrend. There are still more coin with negative change than positive, and trading volume has slowed back down from $62 billion to between $47 billion and $49 billion in 24 hours. Nebulas (NAS) and REPO (REPO) are the major stand outs of the top 100 coins by market cap - up over % and % respectively in the past 24 hours. The value of Bitcoin (BTC) is nearing at $5,100 for +1.0% and a total market dominance of 51.9%, and the value of Ethereum (ETH) is still trending around $165 for no significant change in the past 24 hours. Market cap for the overall cryptocurrency market gained just $1 billion, rising to almost $173 billion total.

 

 

Major Headlines

 

Western Union Samples Blockchain

 

Coins.ph has been chosen by Western Union to develop some minor blockchain applications in the Philippines. The primary goal initially will be to allow residents to more easily receive cash remittances. This is a major area of concern for the country, because as many as 10 million of people worldwide are actively sending money home to relatives they have in the Philippines. Coins.ph already has a user base of over 5 million for their digital wallet services, and Western Union is well known as one of the biggest international money transfer services. Western Unions payment network will allow transfers to end up directly in Coin.ph users’ wallets. “With this collaboration with Coins.ph, we are delighted to offer customers in the Philippines with an unmatched depth of services and capabilities, and convenience right at their fingertips.” - Molly Shea, senior VP and GM, Global Money Transfer, Asia Pacific, Western Union

 

Tron Excels With Gambling

 

The controversial cryptocurrency network Tron is now showing more data to raise awareness of its use. A third party analytics company called Dapp Review has posted data stating that there was as much as $1.6 billion in activity just in the first quarter of 2019 on the Tron Network. This includes a user base of over 400,000. Interestingly, almost 65% of the dapp activity is related to gambling apps. Because the dapp activity is revolving around this industry, the monetary totals are in stark comparison to other popular networks like Ethereum or EOS. In one day, Tron saw as high as $102 million in transactions, in comparison to only $16 on EOS and $4 on Ethereum. However, there are concerns that much of this stems from fraudulent or fake accounts.

 

Blockchain Refrigerator

 

Major manufacturing company Bosch and power supplier Wien Energie have found a way to use blockchain technology to improve a refrigerator. The devic allow consumers to monitor and control electricity consumption for effectively via the network. It can be controlled via a smart device app that enables the user to set the temperature of the fridge and freezer compartment, along with providing alerts for instances where the door is left open. “The blockchain infrastructure should enable new business models in the energy market. For example, an e-charging station could then use a computer protocol on the blockchain and automated contracts to purchase electricity from both the solar system on the roofs of a neighborhood and from the wholesale exchange and then market it to an electric car.” - Peter Gönitzer, CEO of Wien Energie

 

 

Top 5 Gainers

 

Open Platform (OPEN) +1885.92% at $0.006866

OVCODE (OVC) +375.89% at $0.598795

IGToken (IG) +75.68% at $0.000050

Themis (GET) +62.55% at $0.006603

Game Stars (GST) +53.69% at $0.000657

 

 

Top 5 Losers

 

ShineChain (SHE) -69.58% at $0.015009

ProCurrency (PROC) -34.09% at $0.002332

TrakInvest (TRAK) -33.22% at $0.002433

DEX (DEX) -25.24% at $0.044891

DNotes (NOTE) -21.34% at $0.006667

 

 

New Coins Listed

 

PayShopCoin (PSC) listed to LiveCoin

WePayToken (WPT) listed to LiveCoin

ABBC Coin (ABBC) listed to BitMart

 

 

 

By: BGN Editorial Staff

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