General Market
Outlook
The market is now consolidating
after two days of strong positive movement. Coins are now split
between positive and negative gains, while trading volume has
slowed by $5 billion in the past 24 hours, but is still trending at
nearly double what it has been for most of the month of February -
currently just over $30 billion in 24 hours. Crypto.com (MCO) and
Storj (STORJ) are the major stand outs of the top 100 coins by
market cap - up over 14% and 13% respectively in the past 24 hours.
The value of Bitcoin (BTC) is holding right around $4,000 for no
significant change and a total market dominance of 51.6%, and the
value of Ethereum (ETH) is just under $150 for +0.5% change in the
past 24 hours. Market cap for the overall cryptocurrency market
made no significant change still trending right above $135 billion
total.
Major
Headlines
Coinbase Acquires UK
Analytics Start Up
The London offices for Coinbase
will gain the group of 8 developers behind Neutrino. The startup is
primarily a blockchain analytics service provider. “We decided to
join Coinbase because we’re totally aligned with the company’s
mission of building an open financial system and we share the same
commitment to regulation, compliance and security in the
cryptocurrency space.” - Neutrino CEO Giancarlo RussoThe small team
will maintain their ability to provide service to anyone
interested, not strictly providing coinbase with their expertise.
For Coinbase the company will assist research of new assets while
ensuring the cryptocurrency exchange can identify undesirable
activity, like theft, without handing over internal information to
external companies. “This is particularly important as we work with
regulators and agencies in different countries to bring new assets
there.” - Coinbase’s director of engineering and product, Varun
Srinivasan
Advancement In Security
Token Platforms
Digital currency along is difficult
for most people to understand. The technology has now been applied
to other forms of assets, creating the term “tokenization.” Here
platforms are creating methods to provide access to partial
ownership of assets that individuals might not otherwise be able to
own. However, it has posed problems for governments as to how to
categorize these digital assets. This process is being used for
real estate, gold and is now being re-applied to the tokens
themselves to add even more ambiguity to the situation. Two
startups are looking to streamline the process of issuing and
trading security tokens by providing an all-in-one solution.
Securitize, a Coinbase-backed security token startup and OTCXN, a
blockchain infrastructure company to develop and offer a digital
security offering service will help firms tokenize and sell
secondary securities. It will utilize Securitize’s securities
compliance platform and OTCXN’s custodial ledger system.
BitGo Offering
Cryptographic Key Insurance
An argument for maintaining the
traditional financial structure is that it provides a system of
insurance for investors assets. With public cryptocurrencies like
Bitcoin, there is no fall back for individuals who lose the data
needed to access their Bitcoin wallet. These private keys can be
held physically, or digitally, but maintaining the information
digitally leaves the information at risk of being hacked. BitGo
will now facilitate insurance for digital assets by providing $100
million of cover against theft or the loss of cryptographic keys.
The insurance will be offered through the Lloyd’s of London
insurance market. “It is not always easy for some clients to
understand under what circumstances their investments are insured
and to what extent their loss would be covered. We are changing
that by being more transparent than any other company about the
terms of our coverage. Transparency and accuracy is essential for
building trust in the market.” - Mike Belshe, CEO of
BitGo
Top 5
Gainers
Globaltalent (GBT) +59.43% at
$0.002726
BitNewChain (BTN) +59.00% at
$0.032916
Metadium (META) +49.84% at
$0.008098
The Currency Analytics (TCAT)
+29.91% at $0.004083
S4FE (S4F) +28.94% at
$0.627698
Top 5
Losers
BitWhite (BTW) -35.55% at
$0.003971
PlayCoin [ERC20] (PLY) -32.77% at
$0.028997
PlayCoin [QRC20] (PLY) -32.74% at
$0.028997
Dex (DEX) -28.60% at
$0.032996
Dexter (DXR) -23.51% at
$12.93
New Coins
Listed
Amalgam (AMG) listed to
LiveCoin
Bitcoin Gold (BTG) listed to
LiveCoin
Decred (DCR) listed to LiveCoin
Verge (XVG) listed to
LiveCoin
By: BGN Editorial Staff