General Market Outlook

After a couple weeks of steady growth, big spikes and dip recovery, it looks like the same might be coming again. Bitcoin (BTC) is holding above $9,000 and Ethereum (ETH) is floating right about $700. The big name coins like EOS (EOS), Cardano (ADA), WaltonChain (WTC) are all taking turns with growth of 10% or more in less than 24 hours. EOS is down almost 10%, but had just about doubled over the past week. Many other coins from the top 100 are making gains of 20% or more. Aelf (ELF) is just short of up 30% in the past 24 hours right now.

Major Headlines

50% Reduction in French Cryptocurrency Tax

Bitcoin and other cryptocurrencies are no considered “movable property” regarding French Tax law. This asset type refers to tangible or intangible things like cars, jewelry, patents or copyrighted materials. When sold, they’re taxed at a flat 19% rate. Previous regulation considered cryptocurrency sale “industrial and commercial profits,” which brough totals well over 50% for the highest earners. For those who mine cryptocurrency, classification will depend on volume, where commercial level mining operations will be taxed under the old “industrial and commercial profits” standard.

Japanese Exchange Coincheck Matches Stock Exchange Profits

The cryptocurrency exchange recorded a $432 Million fiscal year profit. Japan’s leading stock exchange ended with $657 Million. This total was made despite Coincheck refunding millions following a hack on their system. On January 26, 2018 Coincheck was liquidated of $532 Million worth of NEM. Their security was subpar. The organization was purchased last month by the Monex Group - a large Japanese securities trading company established in 1999 who plans on improving the security procedures on every level of the operation.

Ripple Expanding Use of RippleNet with xVia

Payment processing companies FairFX, Exchange4Free, RationalFX, UniPAY and MoneyMatch are adopting xVia. Ripple has several products to benefit companies with cross-border payment issues - xVia provides a standardized interface for global payments. Whether this will influence the price of XRP substantially is yet to be seen. Adoption of RippleNet is growing, however Ripple software and distributed leder technology (DLT) can be used without actually using the XRP token.

Top 5 Gainers

Vapers Coin (VPRC) +159.97% at $0.000367

Dignity (DIG) +96.24% at $0.161335

OX Fina (OX) +84.65% at $0.141238

HomeBlockCoin (HBC) +74.11% at $0.001392

OP Coin  (OPC) +73.67% at $0.005028

Top 5 Losers

Dero (DERO) -34.22% at $2.58

Lightning Bitcoin (LBTC) -28.70% at $152.28

Bitcoin Plus (XBC) -23.95% at $73.81

SRCOIN (SRCOIN) -23.49% at $0.002733

GreenMed (GRMD) -22.96% at $0.174174

New Coins Listed

FreyrChain (FREC) listed to HitBTC

FinTruX Network (FTX) listed to HitBTC

Binance Token (BNB) listed to YoBit

Loom Network (LOOM) listed to YoBit

Taklimakin Coin (TKLN) listed to YoBit

StakeNet (XSN) listed to Cryptopia

HoloChain (HOT) listed to IDEX

By: BGN Editorial Staff