Bitcoin Global News (BGN)

November 20, 2018 -- ADVFN Crypto NewsWire

 

General Market Outlook

The market continues to move downward with significant losses on many major coins. Nearly all coins are in the red and trading volume has moved risen steadily from $18 billion to over $24 billion in 24 hours. Factom (FCT) and Electroneum (ETN) are the major stand outs of the top 100 coins by market cap - up over 7% and 4% respectively in the past 24 hours. The value of Bitcoin (BTC) is down to $4,700 for -8.0% and a total market dominance of about 53.4%, and the value of Ethereum (ETH) is all the way down to $140 for -8.0% change in the past 24 hours. Market cap for the overall cryptocurrency market declined by over $15 billion, falling to $154 billion total.

 

Major Headlines

 

First Crypto Index ETP

The SIX Swiss Exchange will list a cryptocurrency based ETP based on a basket of coins. The listing will happen next week and be the world’s first ETP based on multiple cryptocurrencies. There are many available on other international exchanges, with most based on the price movement of Bitcoin. This new product is backed by the Swiss startup Amun AG, and will be labeled HODL5. The ETP is extremely similar to the set up of the Bitwise HOLD 10 index which had previously been proposed to the U.S. SEC to be listed on American stock exchanges. The HODL5 and will track five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). The cryptocurrency value proportion within the index will be 50% Bitcoin, 25.4% XRP, 16.7% in Ethereum, Bitcoin Cash 5.2% and Litecoin 3%.

 

Blockchain Power Grids In S. Korea

The largest power provider in S. Korea, KEPCO plans to use blockchain and other emerging technologies to develop novel energy solutions. They call the ultimate goal of this research and development a “micro grid” (MG) system. These utilize small producers of alternative energy. This development is more than a private company out for profit, the South Korean government and state-controlled bank hold a majority stake in the company. The new “Open MG” system will use blockchain technology to improve energy infrastructure, especially for the local hydrogen economy. It is primarily concerned with integrating decentralization to enhance decarbonization and digitalization. They hope that the new system can overcome the obstacles of providing stable power from alternative energy sources.

 

Canadian Research On ICOs

University of British Columbia worked with Mitacs, a Canadian non-profit national research organization to make headway on understanding the issues confronting the ICO industry. They see the major roadblock as “compliance trilemma.” The research team investigated the ICO industry for six months primarily in North America, and conducted 45 interviews with individuals involved in ICOs. Because of the borderless nature of cryptocurrencies, ICOs struggle to take advantage of cost savings when sourcing funds from many countries, while maintaining regulatory compliance.

 

Top 5 Gainers

Veros (VRS) +220.78% at $0.019085

TaoCoin (TOA) +62.48% at $0.001823

Pakcoin (PAK) +57.66% at $0.002105

BitWhite (BTW) +47.65% at $0.007467

PRASM (PSM) +45.57% at $0.001093

 

Top 5 Losers

Thrive Token (THRT) -51.48% at $0.003797

RealTract (RET) -48.24% at $0.000094

Ternio (TERN) -42.75% at $0.012741

PlayCoin (PLY) -41.55% at $0.035739

Alibabacoin (ABBC) -36.44% at $0.146365

 

New Coins Listed

Tourist Token (TOTO) listed to Purcow

 

 

 

By: BGN Editorial Staff

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