Crypto Market Update (16 August 2018)

Bitcoin Global News (BGN)

August 16, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market is no consolidating after a firm reversal yesterday where most coins saw double digit recovery. Currently nearly all coins are still in the green, to a lesser degree than yesterday. Trading volume is holding up around $14 billion in 24 hours. and VeChain (VEN), Lisk (LISK) and Populous (PPT), are the major stand outs of the top 100 coins by market cap - up over 25%, 22% and 19% respectively in the past 24 hours, and several other coins up over +15%. Bitcoin (BTC) is right around $6,400 for +1% and a total market dominance of about 53.1%, and Ethereum (ETH) is right at $290 for roughly no change in the past 24 hours. Market cap for the overall cryptocurrency market reached a high yesterday of about $213 billion and is now settling around $209 billion total.

Major Headlines

Coinbase Acquires Distributed Systems

The addition of a digital identity and security focused start-up useful to every aspect of Coinbase’s constantly expanding business plan. Government regulators continue to fall back on the questions of data security regarding cryptocurrency and the digital marketplace. However, cryptocurrencies highlight the ways that our current system is actually very flawed. As a basic example, a social security number: this number is crucial to verifying your own identity, and extremely useful to someone attempting to steal. Companies like Distributed Systems are designing systems where this number would be encrypted, but still easily used and validated, in the same way that private and public keys work with cryptocurrency wallets.

AAIS Adds Blockchain Solution

The American Association of Insurance Services is now using blockchain to store patient information as a insurance database tool. The technology facilitates near instant availability of data, and removes the need to manually enter patient information. The organization claims it is the “first secure, open blockchain platform that enables the efficient and permissioned-based collection of statistical data on behalf of insurance carriers, regulators and other participating contributors.” The new platform, openIDL also includes a smart contract feature to enable automatic transaction execution.

AT&T Sued For Lost Cryptocurrency Holdings

Michael Terpin, co-founder of BitAngle is suing AT&T for "digital identity theft.” It occurred in two separate hacks over the course of seven months. He claims the company cooperated with a hacker, and provided his phone number, which ultimately allowed the thief to steal $24 million dollars with of cryptocurrency. Terpin is also including $200 million in punitive damages in the case against AT&T.

Top 5 Gainers

Tigerum (TIG) +81.40% at $0.062493

Leadcoin (LDC) +80.79% at $0.002744

Aston (ATX) +56.85% at $0.041117

LogisCoin (LGS) +46.26% at $9.21

Docademic (MTC) +34.46% at $0.087453

Top 5 Losers

FarmaTrust (FFT) -% at $0.003551

Namecoin (NMC) -% at $1.21

Bezant (BZNT) -% at $0.023204

NANJCOIN (NANJ) -% at $0.000683

Cashcoin (CASH) -% at $0.007748