General Market Outlook

The market has made fairly strong downturn with many coins seeing double digit losses. Many more coins are in the negative than positive, and trading volume has moved has risen to between $19 billion and $20 billion in 24 hours. PundiX (PUNDI) is the only major stand out of the top 100 coins by market cap - up over 6% in the past 24 hours. The value of Bitcoin (BTC) is right around $3,450 for -4.0% and a total market dominance of about 53.8%, and the value of Ethereum (ETH) is right at $105 for -9.5?% change in the past 24 hours. Market cap for the overall cryptocurrency market declined by almost $7 billion, falling to under $113 billion total.

Major Headlines

Symbiont Gains Nasdaq Funding

A new enterprise blockchain developer has just closed their second round of funding. The round included big name support from Nasdaq Ventures, Galaxy Digital, Citi, Raptor Group and several others to the total of $20 million. Although the firm has been in operation for almost two years, this is the first time they have truly reached headlines. The company of over 60 employees has been diligently working toward partnerships to develop an industry leading enterprise blockchain template. “We have been very good stewards of capital for the six years we have been in business. I think we have done more with less than anybody out there. So it was time for us to do a bigger round and adding the Nasdaq as an investor and partner, and Citi as an investor and partner, really solidifies our strategy.” - Symbiont CEO Mark Smith

Better Than Cold Storage?

A new custodial service for financial institutions looking to invest in cryptocurrencies claims to have developed a novel form of cold storage that is more secure than any other, while still offering easy access to the cryptocurrencies. The company was originally funded by Crypto-Celebrity Andreessen Horowitz, Max Levchin, Khosla Ventures, Blackrock’s Mark McCombe, Elad Gil and AngelList co-founder Naval Ravikant with $17 million, but have still not released details on how this system fill function: “As we grew to understand the problem, we envisioned a solution based on the security principles we understood well: one that combines multi-person integrity with hardware-based systems, allowing us to build a platform that is more secure than cold storage, but has the benefits of keeping the assets accessible.”

New Tokenized Asset Platform

Two minor cryptocurrency companies Zilliqa and MaiCoin have teamed up to join the competition for tokenization platforms. Their new platform “Hg Exchange” is claimed to give users a “one-step solution” for creating digital representation of traditional financial assets. The network provides users the ability to delineate privately held shares of previously unshareable assets. The company will be seeking out major tech firms in South East Asia: “It is envisaged that Hg Exchange will provide access to high-growth startups and also decacorns [companies valued above $10 billion] such as Uber, Airbnb, Space X, Grab and Didi Chuxing, which are currently not within reach of the average investor.”

Top 5 Gainers

Globatalent (GBT) +65.48% at $0.005285

DPRating (RATING) +61.51% at $0.000359

Bitcoiin (B2G) +31.46% at $0.024087

Morpheus Labs (MITX) +29.81% at $0.006802

Italian Lira (ITL) +27.58% at $0.000023

Top 5 Losers

Ti-Value (TV) -40.93% at $0.022129

SoPay (SOP) -34.29% at $0.001235

Nasdacoin (NSD) -31.83% at $0.653217

Trinity Network Credit (TNC) -29.96% at $0.002891

Kambria (KAT) -29.78% at $0.004475

New Coins Listed

VEO-btc (VEO) listed to HitBTC

Effmining (EFFM) listed to Yobit

By: BGN Editorial Staff