Crypto Market Update (16 July 2018)

Bitcoin Global News (BGN)

July 16, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market continues to recover from last week. Nearly all coins are are in the green and trading volume continues to rise. TenX (PAY) is by far the major stand out of the top 100 coins - up over 38% in the past 24 hours. Bitcoin is right around $6,600 for about +4% change and Ethereum is right at $475 for +5.5% change in the past 24 hours. Market cap for the overall cryptocurrency market rose quickly recently by over $13 billion doin to $268 billion total.

Major Headlines

Tezos - Open Call For Development

Tezos was the second most funded ICO of all time, and will now be dipping into that pool to offer grants to develop their product and organization. The company is offering the grants for three broad purposes - 1. Research that furthers the Tezos protocol and related technologies. 2. Development of tools and applications to support the Tezos ecosystem. 3. Efforts to strengthen and nurture the burgeoning Tezos community. Their network is currently operating in a beta version. Grant projects will likely facilitate launching their mainnet.

Coinbase Announces Possible Coin Additions

On Friday Coinbase announced they are working on adding five new cryptocurrencies to their platform - each coin quickly grew 10 or more percent on the news. They’re experimenting with Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), 0x (ZRX), however users will likely not have full access to these coins through Coinbase. In a way very similar to Robinhood or Circle Invest, investors will “buy” the coins, but never have the actual wallet associated with the coin. Their recent addition of Ethereum Classic (ETC) was quick because the protocol is so similar to Ethereum (ETH), which they already had support for.

TrustToken Seeks $61 Million

The fifth ICO to come off AngelList’s cryptocurrency spin off CoinList hopes to raise $61 million to develop a tokenization platform. The company has been very successful in the past with their releases of Origin (sharing economy platform), Props (live-streaming), Blockstack (decentralized web protocol) and Filecoin (token for cloud storage). However, they are probably best known for the stablecoin TrueUSD, which is looking to take over for Tether (USDT) as the most widely used USD-pegged coin. On the new tokenization platform, the company would create similar stablecoins pegged to the Euro and Yen.

Top 5 Gainers

TraDove B2BCoin (BBC) +243.30% at $0.063186

BigUp (BIGUP) +70.29% at $0.000332

TenX (PAY) +38.01% at $1.01

Internxt (INXT) +35.00% at $4.67

Soarcoin (SOAR) +33.85% at $0.027237

Top 5 Losers

Super Bitcoin (SBTC) -% at $18.03

Sumokoin (SUMO) -% at $0.993799

Paragon (PRG) -% at $0.074353

SRCOIN (SRCOIN) -% at $0.001041

Trittium (TRTT) -% at $0.047214