Crypto Market Update (15 August 2018)

Bitcoin Global News (BGN)

August 15, 2018 -- ADVFN Crypto NewsWire

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.

Major Headlines

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