General Market Outlook
The market has made a complete reversal since last week. Nearly all
coins are making positive gains and trading volume has more than
doubled from just $9 billion in 24 hours to over $20 billion.
Aurora (AOA) and DigixDao (DGD) are the major stand outs of the top
100 coins by market cap - up over 24% and 22% respectively in the
past 24 hours. Bitcoin (BTC) is right around $6,600 for +5%
and a total market dominance of 54.4%, and Ethereum (ETH) is right
at $210 for +5% change in the past 24 hours. Market cap for the
overall cryptocurrency market peaked at over $221 billion, but has
since settled to $212 billion, up $10 billion from
yesterday.
Major Headlines
Former Goldman Sachs COO Joins Spring Labs
Gary Cohn was most recently an economic advisor to U.S. President
Donald Trump, but spent most of his career with Goldman Sachs. He
was originally recruited to the company in the mid 1990s and
eventually became the bank’s chief operating officer. Cohn has now
signed on to advise Spring Labs, a company that will use the
benefits of blockchain technology to create a financial data
sharing platform. "I have been very interested in blockchain
technology for a number of years, and Spring Labs is developing a
network that could have profound implications for the financial
services sector, among others."
Sony Will Use Blockchain For Digital Rights
Sony Music Entertainment Japan and Sony Global Education are
developing methods for integrating blockchain technology for
“managing rights-related information of written works.” They are
working in tandem with IBM to build the network infrastructure. It
will be built off the Sony Global education’s system for managing
educational data. The platform facilitates authentication, sharing,
and rights management. Really getting to the bottom of a best way
to unify digital media rights will take time, because “the rights
management of that content is still carried out conventionally by
industry organizations or the creators themselves, necessitating a
more efficient way of managing and demonstrating ownership of
copyright-related information for written works.”
Coinbase Cancels Index Fund
According to the official release from Coinbase: "After assessing
demand from retail, accredited and institutional investors,
Coinbase has decided to shut down Coinbase Index Fund. We will
focus on providing diversified exposure to all investors through
Coinbase Bundle." Likely due to a lack of interest, Coinbase will
be able to refocus their attention on projects that will see more
customer engagement and new customer on-boarding.
Top 5 Gainers
SHADE Token (SHADE) +140.75% at $0.022300
Joint Ventures (JOINT) +111.78% at $0.004096
SiaCashCoin (SCC) +78.07% at $0.000148
XcelToken (XCEL) +63.13% at $0.029197
TokenCard (TKN) +61.91% at $0.490198
Top 5 Losers
Moving Cloud Coin (TICK) -31.56% at $0.008338
CyberFM (CYFM) -31.20% at $0.000023
MetMorph (METM) -24.15% at $0.018002
Modum (MOD) -23.25% at $1.08
WaBi (WABI) -19.27% at $0.276594
New Coins Listed
0x (ZRX) listed to Cryptopia
Basic Attention Coin (BAT) listed to OKCoin
Anon (ANON) listed to CoinOne and IDAX
Bitcoin Cash (BCH) listed to Lescovex
By: BGN Editorial Staff
