Crypto Market Update (21 June 2018)

Bitcoin Global News (BGN)

June 21, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market is still wavering. Most altcoins are slightly down from yesterday, and trading volume has declined. However several altcoins are up between 7% and 8%. Centrality is the huge standout today of the top 100 coins - up about +60% in the past 24 hours. Bitcoin is right around $6,700 for about -1% change and Ethereum is right at $530 for -1.5% change in the past 24 hours. Market cap for the overall cryptocurrency market grew over $3 billion down to $286 billion total.

Major Headlines

Cold Storage Cryptocurrency Company Gets Bitlicense

Xapo has been granted a BitLicense from the New York Department of Financial Services (NYDFS). These have only been given out to seven other companies. But that could also be due to the price tag of roughly $100,000 for the entire application process. This was likely not an issue for Xapo, which had raised $40 million from Benchmark, Greylock Partners, Index Ventures, Fortress Investment Group, Ribbit Capital and Emergence Capital Partners. Generally “cold storage” implies that an individual has a usb drive, or paper wallet for their cryptocurrency. However, Xapo takes a different approach by combining the convenience of web or mobile wallet with the security provided by a true cold storage wallet. The operation was founded by Wences Casares, an Argentinian entrepreneur after experiencing the extreme inflation and deflation his country’s monetary system experienced.

Price Manipulation Isn’t Just Happening With Bitcoin

$65 million in civil penalties have been levied against JPMorgan Chase to settle charges of attempted manipulating Isdafix benchmark swap rates between 2007 and 2012, the U.S. The Isdafix, a leading dollar benchmark widely used in the swaps market, to benefit its own positions. “We’re pleased to have this matter behind us,” JPMorgan spokeswoman Jessica Francisco said. Back in February of this year, Deutsche Bank paid $70 million to settle similar charges. In addition, Citigroup, Barclays, Goldman Sachs and Royal Bank of Scotland have also paid out in recent years. The largest penalty so far was Citigroup’s $250 million settlement in 2016.

NVIDIA Forms Blockchain-AI Incubator

Nvidia appears to be expanding its interest in blockchain by working with a startup called Ubex to develop a smart online marketing platform that uses blockchain and artificial intelligence. The company has joined NVIDIA’s Inception Program. Ubex is developing neural network technology, which are computer programs designed to think like humans. Blockchain is used for the huge amount of data they will be taking in. Ubex co-founder and chief executive Artem Chestnov: "Any AI needs datasets to work more effectively and to learn. Training an AI requires a lot of effort. The blockchain base will allow us to attract thousands of sources of information that will be used to enrich our AI's database and make it faster, smarter, stronger and more efficient." The primary goal is to increase the effectiveness of advertising algorithms.

Top 5 Gainers

Centrality (CENNZ) +59.42% at $0.166881

Envion (EVN) +45.78% at $0.258815

Feathercoin (FTC) +43.70% at $0.117779

1World (1WO) +41.07% at $0.171480

Yocoin (YOC) +39.91% at $0.051497

Top 5 Losers

Pundi X (NPXS) -23.59% at $0.008119

All Sports (SOC) -22.75% at $0.064055

Ivy (IVY) -21.94% at $0.114418

Content and AD Network (CAN) -19.70% at $0.015315

0xBitcoin (0xBTC) -17.46% at $1.26