Crypto Market Update (01 August 2018)

Bitcoin Global News (BGN)

August 02, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market continues to consolidate, with some coins recovering strongly, and others continuing a drop.Trading volume has moved between $14 and 16 billion in 24 hours. Populous (PPT) is the major stand out of the top 100 coins by market cap - up nearly 20% in the past 24 hours, however Metaverse (ETP) has shown an uptrend for the past several days while most of the rest of the market has gone down. Bitcoin (BTC) is right around $7,600 For -2% and a total market dominance of about 47.9%, and Ethereum (ETH) is roughy $425 for -2% change in the past 24 hours. Market cap for the overall cryptocurrency market has dropped another $2 billion to $274 billion total.

Major Headlines

An Original Bitcoin Developer Brings Fresh Incite

Satoshi Nakamoto is the name behind the creator (or creators) of the Bitcoin Whitepaper. But after being released, a small group of developers jumped in to perfect the network. Martti Malmi was an amateur college developer in 2009 when he got involved with the early stages of the project. He worked closely with Satoshi and others, and is attributed with many of the first upgrades to the Bitcoin network. Now he is working with Identifi and GUN to integrate the most useful aspects of blockchain and cryptocurrency in the most scalable way. The big difference that Malmi’s experience has brought to the project is the data storage. For the two platforms, all personal data is encrypted - so centralized storage just increases speed. A cryptocurrency (ERA) will be used to incentivise users in the same way that Steemit allows P2P payment to content creators

Binance Makes Moves For Decentralized Platform

Trust Wallet announced they will be acquired by Binance, but its team will continue operating autonomously. Trust wallet is a fully anonymous ERC-20 coin mobile wallet. The app is open-source, decentralized, capable of storing more than 20,000 crypto assets, and will give Binance a differentiator in competition with other major exchanges like Coinbase. It was just last month that Binance CEO announced the company would a decentralized exchange. These are the epitome of cryptocurrency. Centralized exchanges defeat the security of decentralize storage, and is clearly seen by the cryptocurrency exchange hacks that have happened over the years.

CNBC Acknowledges The Bitcoin Knowledge Gap

An article on CNBC highlights the irony of making predictions on Bitcoin by individuals with financial opinions based in traditional learning and practices. Bitcoin is more than a progression of the finance world. The technology is an entire new field in itself, that could never have been predicted by the generation before. The article notes that surveys show a considerable degree of acceptance of cryptocurrency and blockchain technology for millennials, and quotes from older generations consistently show a lack of knowledge. It is not unreasonable to consider that Bitcoin’s creation could be remembered as equally impactful to the removal of the Gold Standard in countries around the world in the 1930’s. Bitcoin’s anonymous creator Satoshi Nakamoto’s birthday is April 5th in reference to the event in the U.S. in 1933.

Top 5 Gainers

WABnetwork (WAB) +60.49% at $0.001494

PolySwarm (NCT) +47.51% at $0.002940

Vexanium (VEX) +43.99% at $0.042236

PinkCoin (PINK) +34.80% at $0.009634

Peerguess (GUESS) +33.05% at $0.004567

Top 5 Losers

ATBCoin (ATB) -50.44% at $0.051016

Artex Coin (ATX) -34.53% at $0.000152

United Bitcoin (UBTC) -27.05% at $3.48

Profile Token (PUT) -24.61% at $0.048863

Patron (PAT) -23.75% at $0.017405