General Market
Outlook
The market continues to move
downward with significant losses on many major coins. Nearly all
coins are in the red and trading volume has moved risen steadily
from $18 billion to over $24 billion in 24 hours. Factom (FCT) and
Electroneum (ETN) are the major stand outs of the top 100 coins by
market cap - up over 7% and 4% respectively in the past 24 hours.
The value of Bitcoin (BTC) is down to $4,700 for -8.0% and a total
market dominance of about 53.4%, and the value of Ethereum (ETH) is
all the way down to $140 for -8.0% change in the past 24 hours.
Market cap for the overall cryptocurrency market declined by over
$15 billion, falling to $154 billion total.
Major
Headlines
First Crypto Index
ETP
The SIX Swiss Exchange will list a
cryptocurrency based ETP based on a basket of coins. The listing
will happen next week and be the world’s first ETP based on
multiple cryptocurrencies. There are many available on other
international exchanges, with most based on the price movement of
Bitcoin. This new product is backed by the Swiss startup Amun AG,
and will be labeled HODL5. The ETP is extremely similar to the set
up of the Bitwise HOLD 10 index which had previously been proposed
to the U.S. SEC to be listed on American stock exchanges. The HODL5
and will track five major cryptocurrencies: Bitcoin (BTC), Ripple
(XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). The
cryptocurrency value proportion within the index will be 50%
Bitcoin, 25.4% XRP, 16.7% in Ethereum, Bitcoin Cash 5.2% and
Litecoin 3%.
Blockchain Power Grids In
S. Korea
The largest power provider in S.
Korea, KEPCO plans to use blockchain and other emerging
technologies to develop novel energy solutions. They call the
ultimate goal of this research and development a “micro grid” (MG)
system. These utilize small producers of alternative energy. This
development is more than a private company out for profit, the
South Korean government and state-controlled bank hold a majority
stake in the company. The new “Open MG” system will use blockchain
technology to improve energy infrastructure, especially for the
local hydrogen economy. It is primarily concerned with integrating
decentralization to enhance decarbonization and digitalization.
They hope that the new system can overcome the obstacles of
providing stable power from alternative energy sources.
Canadian Research On
ICOs
University of British Columbia
worked with Mitacs, a Canadian non-profit national research
organization to make headway on understanding the issues
confronting the ICO industry. They see the major roadblock as
“compliance trilemma.” The research team investigated the ICO
industry for six months primarily in North America, and conducted
45 interviews with individuals involved in ICOs. Because of the
borderless nature of cryptocurrencies, ICOs struggle to take
advantage of cost savings when sourcing funds from many countries,
while maintaining regulatory compliance.
Top 5
Gainers
Veros (VRS) +220.78% at
$0.019085
TaoCoin (TOA) +62.48% at
$0.001823
Pakcoin (PAK) +57.66% at
$0.002105
BitWhite (BTW) +47.65% at
$0.007467
PRASM (PSM) +45.57% at
$0.001093
Top 5
Losers
Thrive Token (THRT) -51.48% at
$0.003797
RealTract (RET) -48.24% at
$0.000094
Ternio (TERN) -42.75% at
$0.012741
PlayCoin (PLY) -41.55% at
$0.035739
Alibabacoin (ABBC) -36.44% at
$0.146365
New Coins
Listed
Tourist Token (TOTO) listed to
Purcow
By: BGN Editorial Staff
