Crypto Market Update (24 July 2018)

Bitcoin Global News (BGN)

July 24, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market has begun a fairly strong uptrend. Nearly all coins are up and trading volume has risen strongly from $14 Billion and $20 Billion in 24 hours. Bitcoin Private (BTCP) and Mithril (MITH) are the major stand outs of the top 100 coins by market cap - up over 16% and 15% respectively in the past 24 hours. Bitcoin (BTC) is right around $8,200 For +6% and a total market dominance of about 47%, and Ethereum (ETH) is right at $475 for +3% change in the past 24 hours. Market cap for the overall cryptocurrency market is up over $11 billion to $298 billion total.

Major Headlines

Samsung Denies Reports of Accepting Cryptocurrency

Electronics giant Samsung was reported to begin accepting cryptocurrency payments in Latvia, Estonia, and Lithuania, with plans to start accepting various cryptos on other regions in as well. This was according to a blog post published by cryptocurrency payment processor CopPay, but has since been deleted. This is not to say Samsung has shown they are averse to cryptocurrencies. They are bullish on blockchain technology “It will have an enormous impact on the supply chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation.” - Samsung SDS’ VP and Blockchain Chief Song Kwang-woo

Barclays Submits Two Blockchain Patents

The U.S. Patent and Trademark Office published two applications by the U.K.'s second-largest bank last week. Account security and efficiency is at the core of both patents - two characteristics that blockchain technology excels at. One patent is a fairly stratforward application that outlines a blockchain platform to facilitate cryptocurrency transfers. The other patent is a method for streamlining know-your-customer processes by storing identifying information on a private blockchain. This is possible by avoiding any further, or duplicate checks, which can clog computer networks. The proposal would provide "a more reliable form of verification without substantially increasing technical overheads and improves the operation of computing environments and telecommunications networks."

Civic Acquires Identity.com

Civic is a blockchain based company that specializes in identity management. They recently announced the acquisition of “Identity.com.” Civic’s founder and CEO Vinny Lingham commented he “never thought we’d get it,” highlighting the growing importance of owning the domain names that are most closely associated with the business. Lingham noted that one of the conditions set to purchase the domain was to not disclose the amount that changed hands. He revealed, however, “it wasn’t pocket change.” As a service, Civic’s main objective is to give its users full control over their personal information, including the ability to monitor processes required to accurately verify their identity. By using this system, third parties such as requesters and validators, like a bank or government entity could make attestations regarding identities.

Top 5 Gainers

HollyWoodCoin (HWC) +170.40% at $0.999914

MktCoin (MLM) +146.66% at $0.013518

BigUp (BIGUP) +38.18% at $0.000327

ZetaCoin (ZET) +37.29% at $0.003418

Bob’s Repair (BOB) +35.98% at $0.020398

Top 5 Losers

WeToken (WT) -50.38% at $0.004515

Penta (PNT) -36.38% at $0.001900

BetterBetting (BETR) -32.79% at $0.022792

PikcioChain (PKC) -26.08% at $0.088896

AWARE (AT) -24.84% at $0.008515