General Market
Outlook
The market is still shaky after
Bitcoin dropped to a low for 2018. Nearly all coins in the top 100
are down in the past 24 hours and trading volume is falling. Theta
Token (THETA) is the major stand out of the top 100 coins, which
has risen well over 40% over the past two days and is up over 7% in
the past 24 hours. Qtum (QTUM) and Monaco (MCO) also stand out,
both up around 7% in the past 24 hours. Bitcoin is right around
$6,200 for about -2% change and Ethereum is right around $440 for
-5% in the past 24 hours. Market cap for the overall cryptocurrency
market is down $9 billion to $249 billion total.
Major
Headlines
30% Increase Of
Institutional Investors On Circle
Circle rolled out a cryptocurrency
investment service back in March of 2018. This month the app user
base of institutional investors grew by 30%, which includes hedge
funds, family offices, and VC funds. Circle facilitates about $2
billion in trades every month, and is backed by Goldman Sachs
Investment. The Cryptocurrency market overall has been down
recently, but this screams opportunity to many. “A lot of folks on
the institutional side are on-boarding, and getting their ducks in
the row.” To Circle, this is more than just an investment
opportunity though. A spokesman for the company said to CNBC
recently: “Our view is that all fiat currency will be crypto… It
seems inevitable at this point.” Circle is also applying for
banking licenses in the U.S. to increase their services.
U.S. Secret Service
Concerned With Privacy Coins
An official for the U.S. Secret
Service called on Congress to address potential legislative action
on privacy coins. These coins, such as Monero or Zcash, are able to
mute who the users are in a transaction and how much the
transaction was processed for. Robert Novy spoke before the U.S. House
of Representatives Committee on Financial Services, saying that "We
should also consider additional legislative or regulatory actions
to address potential challenges related to anonymity-enhanced
cryptocurrencies… to ensure law enforcement agencies maintain
lawful access to critical sources of evidence, regardless of where,
or in what form, that information is stored.” Those critical
sources remain unavailable for traditional cash
transactions.
Andreessen Horowitz -
Bullish On Cryptocurrency
The firm raised $300 million for
their first dedicated cryptocurrency fund. Over two to three years,
they will spread the money across early-stage coins, later-stage
networks like bitcoin or ethereum, and will hold the investments
for up to 10 years. Chris Dixon, general partner at the firm:
“We’ve experienced ups and downs in the cryptocurrency market, and
expect there will be many more. There’s potential in the
technology, and some of the downturns can be the best investments.”
He also drew parallels to 2009 and 2010, when there was an influx
of entrepreneurs and developers working on smartphone apps.
Similarly he pegged crypto in 2018 as "one of those great times to
invest… We believe we are still early in the crypto
movement.”
Top 5
Gainers
Abjcoin Commerce (ABJC) +298.30% at
$0.197457
U.Cash (UCASH) +58.86% at
$0.006005
BitWhite (BTW) +37.39% at
$0.042884
Bittwatt (BWT) +31.37% at
$0.027519
United Traders Token (UTT) +25.01%
at $0.305787
Top 5
Losers
Bigbom (BBO) -30.85% at
$0.005188
Rhenium (XRH) -26.60% at
$0.037887
CryptoPing (PING) -20.27% at
$0.186144
PeepCoin (PCN) -19.04% at
$0.000701
EJOY (EJOY) -18.81% at
$0.006064
New Coins
Listed
Egretia (EGT) listed to
OKEx
Rise (RISE) listed to
RightBTC
By: BGN Editorial Staff
News:
Bitcoin
(BTC)
Ethereum
(ETH)
Institutional
Investors
Circle
Cryptocurrencies
ZCASH (ZEC)
Monero
(XMR)
Verge (XVG)
Abjcoin Commerce
(ABJC)
U.CASH
(UCASH)
BitWhite
(BTW)
Bittwatt
(BWT)
United Traders Token
(UTT)
Bigbom
(BBO)
Rhenium
(XRH)
CryptoPing
(PING)
PeepCoin
(PCN)
EJOY (EJOY)
Egretia
(EGT)
Rise (RISE)
Monaco
(MCO)
Theta
(THETA)
