General Market Outlook
The market continues has made a huge reversal from the the dip over the past couple days. Nearly all coins are in the green, trading volume shot up to $16 billion, but is now settling around $13 in 24 hours. Over half of the coins in the top 100 are up over 10% with a dozen over 20%. Nano (NANO) is the major stand - up over 35% in the past 24 hours. Bitcoin (BTC) is right around $6,500 for +6.5% and Ethereum (ETH) is right around $295 for +14% change in the past 24 hours. Market cap for the overall cryptocurrency market gain almost $18 billion rising to $208 billion total.
More Funding From The Big Guys
Axoni just finished a second round of funding, collecting $32 million. The round was led by none Goldman Sachs, with portions from Nyca Partners, Wells Fargo, JPMorgan, Citigroup, and Andreessen Horowitz (billionaire who started a $300 million cryptocurrency fund in June).
Big banks like these are getting into the cryptocurrency space through funding, patents of their own technology and workarounds to trading Bitcoin with futures. Axion has created novel applications of blockchain technology to market data for financial organizations. Their founding projects are equity swaps and credit derivatives, foreign exchange post-trade synchronization and universal reference data for financial firms. Could funding from traditional companies like this turn the bear market around?
Playboy Blockchain Dispute
Playboy is suing Global Blockchain Technologies for breaking their contract to integrate cryptocurrency payment into their digital media platforms, but denies the charges. The agreement was a $4 million payment to Playboy to license the Playboy brand in their promotional materials in exchange for creating a digital wallet for the Vice Token (VIT) on Playboy.tv and providing technical support to Playboy. But this also included a marketing process to "rebrand the VIT website as more generally video/entertainment-oriented." This would be a drastic change, as VIT is openly focused on the internet adult entertainment business.
Jamaican Stock Exchange Added Cryptocurrency
By the end of this year, the Jamaican stock exchange plans to have regulation and technology in place to bring cryptocurrencies to their national stock exchange. They have partner with the Toronto, Canada based company Blockstation to integrate a new platform. “So the end game at the end of the day is to trade tokens, the end game is smart contracts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner.” - Street Forrest Managing Director of the exchange
Top 5 Gainers
Cashcoin (CASH) +128.50% at $0.012297
Bezant (BZNT) +87.37% at $0.041092
Groestlcoin (GRS) +68.85% at $0.649487
Dovu (DOV) +58.44% at $0.025404
TrueFlip (TFL) +52.39% at $0.558317
Top 5 Losers
Plancoin (PLAN) -35.24% at $0.025888
Quantum (QUA) -25.21% at $0.091583
carVertical (CV) -21.29% at $0.000670
DNotes (NOTE) -13.79% at $0.034684
Namecoin (NMC) -11.46% at $2.07
New Coins Listed
SaveDroid (SVD) listed to HitBTC
ClearCoin (XCLR) listed to HitBTC
By: BGN Editorial Staff