General Market
Outlook
The market continues to dip. Nearly
all coins are down and trading volume continues to rise, now at
almost $18 billion in 24 hours. The only stand outs of the top 100
coins by market cap is Monaco (MCO), which announced a new banking
partnership to offer cryptocurrency debit cards - up over 7% in the
past 24 hours. Bitcoin (BTC) is right around $6,400 for -8%
and a total market dominance of about 54.7%, and Ethereum (ETH) is
right at $225 for -11% change in the past 24 hours. Market cap for
the overall cryptocurrency market lost over $18 billion dropping
down to about $204 billion total.
Major
Headlines
IBM Blockchain Work Expands
To Identity
Hu-manity.co is now working with
IBM to further develop their app “#My31.” The name comes from the
idea that "self-sovereign identity" should be the 31st right added
to the list dictated by the United Nations. technology designed to
give individuals greater control over their personal data. The app
is available on iOS and Android mobile devices, focusing on an
individual’s legal ownership of their general citizenship and any
associated data. IBM is already working with a company for identity
in relation to an individual’s banking data, and by Q1 next year
will bring #My31 to the healthcare industry. Upon claiming their
data property rights, users receive a title of ownership, similar
to a property deed. Their signature and photograph is added to the
blockchain, along with their data-sharing preferences.
Ethereum Decides On 33%
Block Reward Reduction
The network of Ethereum developers,
investors and general users have been involved in the debate over
three major topics: the difficulty bomb, ETH issuance and ASIC
resistance. Today they announced consensus on a block reward
reduction of 33%. This means that miners are less incentivized to
run mining for the network, however the ultimate result is
deflation of the ETH cryptocurrency and eventual rise in price. A
similar instance occurred when the Bitcoin reward was halved from
25 BTC to 12.5 BTC. The price rose sharply following the change.
This change also gives the network more time to develop a solution
to whether or not, and how, the network will change from a
Proof-of-Work mechanism to a Proof-of-Stake system.
Bitcoin and Emerging
Markets Correlation
Fundstrat Global Advisors’ Tom Lee
spoke on CNBC recently, explaining that a similar rise and fall of
crypto and emerging markets suggest that investors aren’t engaging
with these areas at this time. However, he presses that this could
all change if and when the dollar weakens and the Federal Reserve’s
interest rate policy slows down. “Both really essentially peaked
early this year, and they both have been in a downward trend. Until
emerging markets begin to turn, I think in some ways that
correlation is going to hold and tell us that sort of the risk on
mentality is those buyers aren’t buying Bitcoin.” - Tom
Lee
Top 5
Gainers
ContractNet (CNET) +107.30% at
$0.038657
Fargocoin (FRGC) +96.04% at
$0.200370
Webcoin (WEB) +67.11% at
$0.011624
OptiToken (OPTI) +35.75% at
$0.268059
ABLE (ABLX) +32.36% at
$0.002949
Top 5
Losers
HollyWoodCoin (HWC) -44.93% at
$0.230154
Credit Tag Chain (CTC) -29.37% at
$0.060065
Bitcoin Diamond (BCD) -29.28% at
$2.05
NewsToken (NEWOS) -28.92% at
$0.002637
BingoCoin (BOC) -26.70% at
$0.116196
New Coins
Listed
Masternet (MASH) listed to
Livecoin
FTEC Foundation (FTEC) listed to
Cryptopia
TokenCard (TKN) listed to
Ethfinex
Universa (UTNP) listed to
Ethfinex
By: BGN Editorial Staff
News:
Bitcoin
(BTC)
Monaco
(MCO)
Ethereum
(ETH)
Blockchain
ContractNet
(CNET)
Fargocoin
(FRGC)
Webcoin
(WEB)
OptiToken
(OPTI)
ABLE (ABLX)
HollyWoodCoin
(HWC)
Credit Tag Chain
(CTC)
Bitcoin Diamond
(BCD)
NewsToken
(NEWOS)
BingoCoin
(BOC)
