General Market
Outlook
The market has made another turn
downward, but not as strongly as last week. Nearly all coins are in
the red and trading volume has moved between $13 billion and $14
billion in 24 hours. Decentraland (MANA) and Golem (GNT) are the
major stand outs of the top 100 coins by market cap - up over 6%
and 3% respectively in the past 24 hours. The value of Bitcoin
(BTC) short of at $4,000 for -6.5% and a total market dominance of
53.7%, and the value of Ethereum (ETH) is roughly $110 for -7.5?%
change in the past 24 hours. Market cap for the overall
cryptocurrency market declined strongly again by just about $12
billion, falling to almost $125 billion total.
Major
Headlines
Further ETF Proposals In
U.S.
There were several rejections by
major financial organizations earlier this year to register Bitcoin
and other cryptocurrency based exchange traded products, but the
effort has not subdued. Behind a majority of the proposals were the
companies, VanEck and SolidX, who planned to launch the products
first on the Cboe BZX Exchange. Members of all three of these
organizations recently met with U.S. Securities and Exchange
Commission (SEC) to present a new case for the viability of their
new cryptocurrency based products. With this attempt, the
organizations made a stronger focus on the regulatory issues at
hand in the U.S. and globally. The major assimilation used was that
of other major commodities with ETF’s - crude oil, silver and gold.
“The linkage between the bitcoin markets and the presence of
arbitrageurs in those markets means that the manipulation of the
price of bitcoin on any single venue would require manipulation of
the global bitcoin price in order to be effective … Bitcoin
therefore is no more susceptible to manipulation than other
commodities, especially as compared to other approved ETP reference
assets.” The outcome is yet to be seen.
Canadian Company Integrates
BTC payments
Glance Technologies of Canada is
now bringing an integrated payment method for Bitcoin to all of
their devices. The system will work seamlessly within their current
mobile wallet system of Glance Pay Account. The “Pay With Bitcoin
feature” is facilitated by a transition to “Glance Dollars with
Bitcoin.” This in-house currency at present will only be able to be
spent at merchants that accept the Glance payment system. The
company claims that their network will support near-instant
payments.
SEC Sets Example With
Celebrities
The U.S. Securities and Exchange
Commission (SEC) pressed charges against to household names earlier
this year because of their association to ICOs. ICOs have become a
sort of thorn in the side of cryptocurrency adoption because of
their fluid and unregulated nature. The lack of regulation isn’t
because of effort. Cryptocurrencies simply allow for systems that
can’t be accounted for within the traditional system that guide
fiat currencies. The two did not have to be brought to court, as
settlements have no been reached . Floyd Mayweather Jr. and music
producer Khaled Khaled (DJ Khaled) were both charged for not
reporting any earnings from endorsing ICOs. Mayweather will pay
$300,000 in disgorgement, $300,000 in penalties along with $14,775
in prejudgment interest. DJ Khaled was paid $50,000 to promote
Centra Tech, according to the agency and must pay $50,000 in
disgorgement, $100,000 in penalties along with $2,725 in
prejudgment interest.
Top 5
Gainers
Welltrado (WTL) +42.58% at
$0.064779
Italian Lira (ITL) +25.56% at
$0.000030
BankEx (BKX) +21.46% at
$0.045069
Cube (AUTO) +20.16% at
$0.001962
SingularityNET (AGI) +19.16% at
$0.047656
Top 5
Losers
nOS (NOS) -41.50% at
$0.051270
KWHCoin (KWH) -32.79% at
$0.000509
Ink (INK) -31.92% at
$0.006931
ATBCoin (ATB) -30.60% at
$0.006597
Rentberry (BERRY) -27.33% at
$0.001396
New Coins
Listed
PIVX (PIVX) listed to
IDAX11
Paxos (PAX) listed to
HitBTC
Solve Care (SOLVE) listed to
Bittrex
Vertcoin (VERT) listed to
VertPig
Nucleus Vision (NCASH) listed to
Bittrex
The Abyss (ABYSS) listed to
Behind
By: BGN Editorial Staff