Crypto Market Update (19 July 2018)

Bitcoin Global News (BGN)

July 19, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market continues to consolidate after the sharp rise and continued growth over the past two days. The split is fairly even between coins which have consolidated below their high, and those which are consolidating in the positive. Trading volume has dropped, but is still higher than last week at about $18 billion 24hr volume. The one stand outs of the top 100 coins is ZenCash (ZEN) - up over +9% in the past 24 hours. Bitcoin is right around $7,400 for about no change and Ethereum is right at $470 for -4.5% change in the past 24 hours. Market cap for the overall cryptocurrency market ? over $? billion doin to $??? billion total. Trading Volume

Major Headlines

BitPay Gets 10th Bit License

The permit allows BitPay to offer clearing and settlement services to New York-based companies that want to make transactions with Bitcoin (BTC) or Bitcoin Cash (BCH). The company is headquartered in Atlanta, Georgia, United States. BitPay charges a 1% processing fee to merchants, and customers can expect Bitcoin transaction fees to remain low and fairly stable as the network matures. The service is available in 240 countries. Some major businesses like Microsoft, Newegg, and Virgin Galactic use their services. “We believe this gives businesses not only in New York but across the country confidence that blockchain technology offers clear benefits to businesses engaged in e-commerce and cross-border transfers.” - Stephen Pair, CEO

American Express Granted Blockchain Patent

This is the most recent of three big blockchain technology applications from American Express. In November of 2017 they established a B2B payments channel between the U.S. and the U.K. that handles payments almost instantly. The system was made with Ripple and Santander Bank. More recently they used a Hyperledger Fabric enterprise blockchain to let merchants create custom Membership Rewards programs for American Express cardholders. Boxed was the first trial run for the system.

New Exchange May Solve ICO Problems

The Palladium crypto exchange created in partnership with Unikrn and Bittrex. The differentiator of the platform is a new form of ICOs called ICCOs (Initial Convertible Coin Offerings). It issues a tokenized convertible warrant which is regulated by the Malta Financial Services Authority (MFSA) and subject to EU rules laws as well. It gives investors the right to convert the tokens into shares of Palladium three years after the issue date. Users of the overall exchange will have access to the large selection of the same tokens listed on Bittrex. Palladium draws on industry leaders for its Advisory Board: former CEO of Microsoft Ventures, a former attorney at the US Securities Exchange Commission, and the former managing director of Credit Suisse, a Swiss investment bank.

Top 5 Gainers

DCORP Utility (DRPU) +82.80% at $0.263718

Super Bitcoin (SBTC) +37.42% at $10.45

Zebi (ZCO) +37.22% at $0.055555

Universal Currency (UNIT) +37.15% at $0.246550

On.Live (ONL) +36.96% at $0.083699

Top 5 Losers

Cashcoin (CASH) -32.06% at $0.007484

DecentBet (DBET) -23.79% at $0.131223

XMax (XMX) -19.80% at $0.001871

Dragon Coins (DRG) -18.87% at $0.229339

Super Game Chain (SGCC) -18.22% at $0.001571