📰 14/8/2018 Bitcoin is compared with 2000s early Internet shares, JP Morgan invests in blockchain startup, exchanges/listings/opinions: news by ICO Telegraph
📌 The cryptocurrency market passes psychologically critical points
Facts & summary
Good evening. Let's start our news from the general market review:
- Bitcoin now has a number of key support levels below $6000;
- Bitcoin Dominance: more than 54%;
- Market loses $30B, now the total market cap is below $200b ($192b actually)
- Ethereum is now evaluated less than $300;
- XRP is now down at 90% from its maximum value;
- The information on other assets in general repeats the trend, so that you can see in your own portfolio.
Sometimes a strong decrease in the portfolio is more profitable than selling. Paradoxically, many investors have this type of portfolios when the sale turns out to be critical, and the most repulsive option. Before that, we had a decline of $10,000 and $8,000, when the exit from the market was preferable for "weak" investors. However, the number of "weak hands" is reduced along with market capitalization, with prices, you know, with everything. Therefore, the coming to a new level of support for 5600 can be very long, and the amplitude of growth will show more profitable solutions, including for short-term trading.
📌 Axoni, blockchain-based start-up, raised $32 million due to support of Goldman Sachs and JP Morgan
The innovate project creates a new multi-party data infrastructure with the support of leading institutions
The Axoni Startup, founded in 2013, is aimed at seriously reworking the corporate infrastructure. Now the company has the following activities: the formation of its own distributed registry, the development of data synchronization technology and Ethereum-compatible language for writing smart contracts based on AxLang.
With the support of major institutions such as JP Morgan, Wells Fargo and others, this start-up managed to raise $32 during the Round B. The total capital of all investments in Axoni is $55 million. Given the resources and means to build this infrastructure, many firms from around the world can start to use this solutions. Axon's technology is already compared with the adoption of TCP/IP protocol.
📌 Bitcoin is compared to the internet stocks: back in history
Like Amazon, Intel or Microsoft shares did not have much understanding in 2000s, crypto goes this way
Cryptocurrency investing advocate Meltem Demirors in her last interview expressed an opinion according to which cryptocurrencies have not yet found great popularity because of their lack of understanding by the masses. Indeed, in back to 2000s, the same mistrust was experienced to the Internet, if you know the "dot-com" bubble. But, who now compares the domain name and importance (and also finances) of the Internet today?
The advocate also stated that Bitcoin's bubble was over, but its okay for the cryptocurrency world. However, if so, will the possibility of bull run exist? Probably, it may occur a bigger and stable form.
💰Market Cap: $191 403 627 967
💵24h Vol: $15 593 919 499
📊 Prices TOP 14.08.2018
↗️↘️Bitcoin: $6 056
↗️↘️ETH: $258
↗️↘️XRP: $0,259896
↗️↘️BCH: $486
↗️↘️XLM: $0,211427
↗️↘️EOS: $4,32
↗️↘️LTC: $51
↗️↘️USDT: $1,00
↗️↘️ADA: $0,089757
↗️↘️MONERO: $81,10
♻️ Exchanges
📌 Coinbase Index Fund reduces fees to 1%
Coinbase continues to form the conditions which will attract investors from non-crypto markets
According to the statements of Coinbase, these changes will attract investors which interact with other index funds. Reminding, that the number of cryptocurrency index funds is still extremely small in relation to similar financial enteties, and it is possible that this area will also expand in the near future due to institutional investments.
Exchange's fund includes all digital assets listed on the Coinbase, weighted by market capitalization (including Bitcoin and others). Its number is still limited and will be increased in the future. Now there is a process of rebalancing the fund in connection with the inclusion of the Etherum Classic. At the moment, the index fund is available only for accredited investors - residents of the States.
📌 Jamaica Stock Exchange will trade cryptocurrencies
This warm island is ready for investments
The Jamaican Stock Exchange (JSE) together with the Blockstation start-up will create a new trading platform, which would also include cryptocurrencies. It is also possible that soon the exchange will have its own crypto asset.
At the moment, JSE provides conditions for trading of traditional financial assets, including bonds, shares, and so on. But it's still a wide field for big changes. As you remember, most recently, the largest Australian bank issued the first bond based on blockchain, and some economists predict a complete transfer of the financial system to a new technology by 2025.
📌 Binance launches Crypto Academy — one new resource to know the subject better
«Blockchain revolution is knowledge»
Of course, cryptocurrencies are quite comfortable as the subject, if you "into it". However, for global adoption, people will need to share knowledge with others. Moreover, new information becomes available together with the Binance Academy.
This resource, located on binance.vision, will educate people in more general or specialized knowledge, which is related to cryptocurrencies and blockchain. The Academy will be updated in accordance with the development of the industry.
📌 More updates
- People from 50 US states can buy Bitcoin via Cash App by Square.
- Bitfinex will be integrated in Blockport decentralized exchange as an external platform.
- OKCoin`s CEO talks about his view of crypto future and so on: podcast by NYSE. (NYSE launched a «crypto themed podcasts» after announcing «legendary» Bakkt platform).
- Listing update: $RVN market is open on Bittrex exchnage.
- Cardano will make «Icarus», third-party application ecosystem. Know more.
- Cardstack (quote): «Crypto Prices Are Volatile Because Nobody Is Using Blockchain (Yet)». Opinion.
We are sure that this is not all that happened today. Do you know more? Share information in comments.
💱 Exchanges: 24h volume
Binance $1.48B → 16.67%
OKEx 1.01B → 11.37%
Excellent article. I learned a lot of new things. I signed up and voted. I will be glad to mutual subscription))))
Great article! Thanks for the market update!I'm excited for the future of the space!
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