General Market Outlook
The market has made no significant change/ continues to consolidate/move sideways make upward/downward movement. Nearly all coins are in the green/red and trading volume has moved between $ billion and $ billion in 24 hours. Bitcoin Cash (BCH) and Insight Chain (INB) are the major stand outs of the top 100 coins by market cap - up over 13% and 12% respectively in the past 24 hours. The value of Bitcoin (BTC) is nearing $5,200 for +2.0% and a total market dominance of 51.9%, and the value of Ethereum (ETH) is just over at $165 for +1.5% change in the past 24 hours. Market cap for the overall cryptocurrency market declined/gained/made no significant change over $ billion, rising/falling to $ billion total.
Coinbase Adds User-to-User Transfer
Now from any Coinbase user account, transfers can be made between users using XRP (Ripple’s native currency) or USDC (Circle’s stablecoin made with CENTRE). The service is offered completely free of charges, and is basically instant. When making transfers to individuals using a non-Coinbase wallet, the fees will be “a nominal on-chain network fee for sending outside of Coinbase.” The company is quick to point out that this is not related to their institutional services. “It’s primarily designed as an educational resource for customers to learn about the benefits of using crypto for cross-border payments… is not a money remittance; rather, it is a cryptocurrency transaction with conversion into local currency after receipt.” - Coinbase representative
Atomic Capital Huge Crypto-Interest
Atomic Capital is now now a third company to come out with new cryptocurrency loan or interest rates. However, the rates and procedure for Atomic Capital is quite different. The New York-based company is offering U.S. dollar loans for up to 85% of the value of the Bitcoin or Ether for collateral. This is in contrast to perhaps the most well known company providing loans, BlockFi, which offers crypto-backed loans with a maximum of 50%. Celsius Network gives allows customers three options - 25%, 33% or 50%. Atomic Capital will charge interest rates of 11 to 13%, where as some of their competition charges only 4.5 to 8.95% percent. The minimum loan they will provide is $100,000, and the maximum is $100 million.
Chinese Government Unsupportive Of Cryptocurrency Mining
China is home to the majority of cryptocurrency mining activity worldwide, even though the country has never had favorable laws for activities or businesses using or related to cryptocurrency and blockchain technology. The Chinese central government agency in charge of formulating macroeconomic policies has recently referred to Bitcoin mining as an “undesirable” industry. The National Development and Reform Commission (NDRC) published a draft proposal for Guiding Industry Restructuring, which looks to put much less emphasis on Bitcoin.
Top 5 Gainers
BitBall (BTB) +81.38% at $0.000210
uPlexa (UPX) +79.10% at $0.000978
EnergiToken (HVN) +65.42% at $0.000832
Hiveterminal Token (HVN) +56.32% at $0.013508
SuperEdge (ECT) +54.63% at $0.000473
Top 5 Losers
SocialCoin (SOCC) -% at $0.000568
Profile Utility Token (PUT) -% at $0.007637
WhiteCoin (XWC) -% at $0.081549
Stem Cell Coin (SCC) -% at $0.039102
Blockcloud (BLOC) -% at $0.034140
New Coins Listed
Ormeus Coin (ORME) listed to HitBTC
True USD (TUSD) listed to LiveCoin
By: BGN Editorial Staff