Crypto Market Update (13 July 2018)

Bitcoin Global News (BGN)

July 13, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market continues to rise after a sharp rebound. Nearly all coins in the top 100 are up but trading volume is dropping slightly. Bitcoin Gold (BTG) and Veritaseum (VERI) are the major stand outs of the top 100 coins - up over 18% and 16% respectively in the past 24 hours. Bitcoin is right around $6,300 for about +2% change and Ethereum is right at $440 for +2% change in the past 24 hours. Market cap for the overall cryptocurrency market hit a low of $242 billion but has since rebounded to 250 billion total.

Major Headlines

Potential World’s First Decentralized Bank

Binance participating in the funding for the world’s first decentralized, community-owned bank based out of Malta. The so-called “Founders Bank” has now received a total of $155 Million funding, with Binance providing a 5% stake of the total. Malta recently passed a series of bills to make their country extremely favorable to blockchain companies, but banking still brings complications. Know-your-customer and anti money laundering regulations have been a struggle for the cryptocurrency industry. But maybe most significantly, the standards set by this bank will lay the precedent for subsequent cryptocurrency-based banks.

First Completely Blockchain-based Game

The financial industry is the obvious front runner in blockchain and cryptocurrency development, but will users in the gaming industry bite first to create a bigger niche of cryptocurrency users? Gaming is one industry that is often seen to be at the forefront of technology. Blockchain technology allows gamers to finally own what they achieve in their games. When games integrate tokenization, users can bring their possessions to universal marketplaces to trade between separate games. Fuel Games, who is backed by Coinbase, has now launched the first totally blockchain based game - “Gods Unchained.” The game operates on the Ethereum network.

Robinhood Following Through With Cryptocurrencies

Back in March Robinhood completed a 4th round of funding for $350 million and announced plans for adding cryptocurrency trading to their platform. Competition for bringing in new traders to the cryptocurrency scene is expanding rapidly. Circle has created Circle Invest for cryptocurrency asset trading, and Coinbase has been making headlines consistently in 2018 for adding services and talent from Wall Street to bring their platform to institutional investors. Initially Robinhood offered trading for Bitcoin and Ethereum only, but as of yesterday, the platform now offers Litecoin and Bitcoin Cash. The platform still plans to increase to at least 16 different coins.

Top 5 Gainers

Crystal Clear (CCT) +50.80% at $0.057378

Docademic (MTC) +49.81% at $0.229563

RealChain (RCT) +38.80% at $0.050956

Silent Notary (SNTR) +28.90% at $0.000075

MyToken (MT) +28.52% at $0.015088

Top 5 Losers

DWS (DWS) -49.78% at $0.957442

DaTa eXchange (DTX) -49.38% at $0.031070

Penta (PNT) -35.74% at $0.003112

HollyWoodCoin (HWC) -32.48% at $0.494059

LIFE (LIFE) -29.02% at $0.000099