General Market Outlook

The market has made a complete reversal since last week. Nearly all coins are making positive gains and trading volume has more than doubled from just $9 billion in 24 hours to over $20 billion. Aurora (AOA) and DigixDao (DGD) are the major stand outs of the top 100 coins by market cap - up over 24% and 22% respectively in the past 24 hours. Bitcoin (BTC) is right around  $6,600 for +5% and a total market dominance of 54.4%, and Ethereum (ETH) is right at $210 for +5% change in the past 24 hours. Market cap for the overall cryptocurrency market peaked at over $221 billion, but has since settled to $212 billion, up $10 billion from yesterday.

Major Headlines

Former Goldman Sachs COO Joins Spring Labs

Gary Cohn was most recently an economic advisor to U.S. President Donald Trump, but spent most of his career with Goldman Sachs. He was originally recruited to the company in the mid 1990s and eventually became the bank’s chief operating officer. Cohn has now signed on to advise Spring Labs, a company that will use the benefits of blockchain technology to create a financial data sharing platform. "I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others."

Sony Will Use Blockchain For Digital Rights

Sony Music Entertainment Japan and Sony Global Education are developing methods for integrating blockchain technology for “managing rights-related information of written works.” They are working in tandem with IBM to build the network infrastructure. It will be built off the Sony Global education’s system for managing educational data. The platform facilitates authentication, sharing, and rights management. Really getting to the bottom of a best way to unify digital media rights will take time, because “the rights management of that content is still carried out conventionally by industry organizations or the creators themselves, necessitating a more efficient way of managing and demonstrating ownership of copyright-related information for written works.”

Coinbase Cancels Index Fund

According to the official release from Coinbase: "After assessing demand from retail, accredited and institutional investors, Coinbase has decided to shut down Coinbase Index Fund. We will focus on providing diversified exposure to all investors through Coinbase Bundle." Likely due to a lack of interest, Coinbase will be able to refocus their attention on projects that will see more customer engagement and new customer on-boarding.

Top 5 Gainers

SHADE Token (SHADE) +140.75% at $0.022300

Joint Ventures (JOINT) +111.78% at $0.004096

SiaCashCoin (SCC) +78.07% at $0.000148

XcelToken (XCEL) +63.13% at $0.029197

TokenCard (TKN) +61.91% at $0.490198

Top 5 Losers

Moving Cloud Coin (TICK) -31.56% at $0.008338

CyberFM (CYFM) -31.20% at $0.000023

MetMorph (METM) -24.15% at $0.018002

Modum (MOD) -23.25% at $1.08

WaBi (WABI) -19.27% at $0.276594

New Coins Listed

0x (ZRX) listed to Cryptopia

Basic Attention Coin (BAT) listed to OKCoin

Anon (ANON) listed to CoinOne and IDAX

Bitcoin Cash (BCH) listed to Lescovex

By: BGN Editorial Staff