General Market
Outlook
The market is now consolidating
after further downward movement. Coins are split between positive
and negative changes, with trading volume remaining high, between
$17 billion and $19 billion in 24 hours. Zilliqa (ZIL) and
ChainLink (LINK) are the major stand outs of the top 100 coins by
market cap - up over 14% and 12% respectively in the past 24 hours.
The value of Bitcoin (BTC) is down further to $3,700 for -2.0% and
a total market dominance of about 53.3%, and the value of Ethereum
(ETH) is right below $105 for -4.0% change in the past 24 hours.
Market cap for the overall cryptocurrency market gained slightly by
$3 billion, rising to $121 billion total.
Major
Headlines
BitStamp Upgrades
Security
The competition to attract
institutional investors into the cryptocurrency space is pushing
development of the systems in every way. But one of the most
important for these customers is security. In order to be compliant
with regulations in any country, there are strict requirements in
place. Bitstamp has chose to employ the Irisium Surveillance
platform to monitor for suspicious activity and market
manipulation. This is following a recent partnership with Cinnober,
a partial owner of Irisium the develops technology for financial
markets. Bitstamp will be using the same tools used by major
exchanges such as Asia Pacific Exchange Pte Ltd (APEX). “Our desire
is to guarantee a fair and orderly market which reflects genuine
supply and demand. Exploring new frontiers in preventing market
manipulation is essential for the industry to mature.” - CEO and
founder Nejc Kodric
New Group Working Toward
Standardized Code
Many groups have been created this
year that are trying to come together on consensus on things
related to cryptocurrency and blockchain technology, whether on
regulatory issues or deeper code level concepts related to the
financial instruments. Now a group of ten companies are looking to
standardize a code of conduct the digital asset space. The
Association for Digital Market Assets, or ADAM was founded by
Galaxy Digital, Genesis Global Trading, GSR, Hudson River Trading,
Paxos, Symbiont, BitOoda Technologies, BTIG, Cumberland and XBTO.
They want a universal code of conduct with voluntary rules for
efficient trading, custody, clearing and digital asset settlement.
Overall they hope to “encourage professionalism and ethical
conduct.”
Ledger Opens New York
Office
New York is the center of the
global financial industry. The state has pushed cryptocurrency
regulations for America and developed the widely touted BitLicense.
As institutional investors investigate entering the new market,
security remains a top priority. In order to maintain the highest
safety for cryptocurrency funds, they must be cold stored - meaning
not connected to the internet. This requires physical memory
storage, where Ledger has become the industry leader. They are now
working to move from the individual holder’s choice, to the
institutional investor’s choice. Their new system, Ledger Vault
allows for multiple members of a corporate entity to access the
same cold storage wallet.
Top 5
Gainers
Vipstar Coin (VIPS) +164.58% at
$0.000167
Puregold Token (PGT) +63.69% at
$0.234620
MicroBitcoin (MBC) +59.74% at
$0.000259
Sentinel Protocol (UPP) +48.16% at
$0.021939
NeuroChain (NCC) +37.23% at
$0.008357
Top 5
Losers
Thore Cash (TCH) -45.24% at
$0.001221
Datarius Credit (DTRC) -36.14% at
$0.000363
Welltrado (WTL) -34.15% at
$0.037163
Bezop (BEZ) -32.83% at
$0.062948
LogisCoin (LGS) -30.91% at
$0.714365
New Coins
Listed
Experty (EXY) listed to
BitBay
Monero (XMR) listed to
Altcointrader
By: BGN Editorial Staff