Crypto Market Update (12 September 2018)

Bitcoin Global News (BGN)

September 12, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market is still moving in a mild downtrend overall, but some coins continue to move against the grain and recover. Trading volume has moved between has risen by about $1 billion to $12 billion in 24 hours. Nexus (NXS) and Dentacoin (DCN) are the major stand outs of the top 100 coins by market cap - up over 12% and 10% respectively in the past 24 hours. Bitcoin (BTC) is right around $6,300 for +0.5% and a total market dominance of 57.8%, and Ethereum (ETH) is right at $170 for -8% change in the past 24 hours. Market cap for the overall cryptocurrency market lost roughly $3 billion, now at just under $189 billion total.

Major Headlines

U.S. Blockchain Lobbying Group Formed

“Blockchain Association” will focus on education and legal changes in an effort to normalize relations between cryptocurrency startups and lawmakers. The associations founding members include Coinbase, Circle, Digital Currency Group, Polychain Capital and Protocol Labs. In the early stages of building relationships with regulators, the Blockchain Association will focus on tax law and how KYC/AML rules relate to these new business. The group is anchoring off the experience of a current lobbyist as one of their first employees - Kristen Smith is a former Senate aide and Overstock.com blockchain lobbyist. (CEO of Overstock.com Patrick M. Byrne is an outspoken advocate for cryptocurrency). "I've been spending a lot of time doing a lot of the basic education work in this space ... I'm excited to focus exclusively on these issues."

New Mobile Blockchain Network In Japan

Softbank Corp. completed a blockchain proof-of-concept that allows peer-to-peer payments across different carriers on mobile devices. The technology was developed through blockchain startup TBCASoft and Synchronoss. Synchronoss is most well known for a novel communications protocol called Rich Communication Service (RCS) in Japan that competes with SMS type messages. The new system is intended to replace the traditional SMS text messaging. The benefits of the new protocol allow for multimedia content, documents and voice calls via the carrier networks instead of apps. With a distributed network underlying technology, these features can include sending cryptocurrencies held on wallets connected to the internet (hot wallets).

“The First Crypto Giveaway In Sports"

On September 21st, the LA Dodgers will host a digital bobblehead giveaway during a game against the San Diego Padres. Participants will be dictated by attendance. The first 40,000 fans to arrive to the game will be given the opportunity to download a digital bobblehead. Options include two of their pitchers, Clayton Kershaw and Kenley Janson, or the team’s third baseman, Justin Turner. In order to participate and claim the prize, fans will receive a card with a code and a set of instructions to receive their award tokens. This process creates an Ether wallet for the user, and the tokens can be used only to choose between one of the three players.

Top 5 Gainers

Mindexcoin (MIC) +127.86% at $0.621175

Vitae (VITAE) +60.09% at $0.939380

Dether (DTH) +43.80% at $0.023476

Flash (FLASH) +41.23% at $0.008337

CYCLEAN (CCL) +38.49% at $0.019801

Top 5 Losers

EliteShipperToken (ESHIP) -62.97% at $0.000010

QYNO (QNO) -59.50% at $0.047715

CyberMusic (CYMT) -39.64% at $0.000017

CyberFM (CYFM) -38.33% at $0.000017

LightPayCoin (LPC) -31.67% at $2.01