🕑 4 min read
What did we collect for you today:
- Daily review of the cryptocurrency market;
- General sentiments;
- Exchanges/listing/other news: new tokens, announcements;
- And more related information.
📌 Bitcoin moves to a minimum of $7,000
The volume of the market is declining on the wave of panic
Good afternoon dear friends! This time, Bitcoin moves to a mark of near 7000 dollars without any remorse. Now, the recession of the cryptocurrency market may give another impulse to investors to start panic actions.
Perhaps those who bought at a level above $ 8,000 fell into a so-called trap, and even old holders continue to hope for a future's Bitcoin's rally at the end of 2018. But, no earlier than this number. Would you say something about the current situation on the market?
The BTC market capitalization at the moment has decreased from 140 billion to 120 billion. Fear & Greed indicator shows that now the market is in fear (38), although last week it was possible to set a stable neutral sentiment.
📌 Brian Kelly: "that Bakkt is biggest crypto news of the year"
Yesterday's news about the Bakkt platform was considered as the most important in 2018
As you remember, yesterday the news sources literally cried out that Microsoft, Starbucks and ICE (NYSE parent) united in order to contribute to the global adoption of crypt currency. The Bakkt platform created by them, at least, will be used to accept payments around the world. Starbucks have already confirmed that they will accept the crypto too. But, what“s then?
Brian Kelly, founder and CEO of BKCM LLC, an digital investment firm, claims that this is "the biggest news of the year".
Against the background of a downtrend, this news may seem extremely supportive. However, it's risky to think that after the first announcement of Bakkt, the crypto world will go to the moon. At the moment, panic moods make it necessary to change the paradigm, besides, it is not reported in detail, how comprehensive and valuable this platform will be.
Back in January, Bitcoin would have gone up 20% on this news. So, I think the bear market has just broken people’s spirit, frankly, and so people aren’t really looking for this…
quote: source
Returning to the assumption, this Bakkt news can probably go to best-of-week and best-of-the-year compilations.
💰Market Cap: $253 933 593 755
💵24h Vol: $12 473 123 386
📊 Prices TOP 04.08.2018
↗️↘️Bitcoin: $7 037
↗️↘️ETH: $406
↗️↘️XRP: $0,428891
↗️↘️BCH: $700
↗️↘️EOS: $7,03
↗️↘️XLM: $0,239687
↗️↘️LTC: $74
↗️↘️ADA: $0,127108
↗️↘️USDT: $0,998623
↗️↘️IOTA: $0,849696
♻️ Exchanges
📌 Coinbase will add 37 new currencies
Including XRP, XMR, EOS. Only for Coinbase Custody
One more big update from the famous American exchange Coinbase, which in many ways forms the western cryptocurrency market.
What currencies will be listed on it? Coinbase considers a large number of currencies for listing on its own platform. Among them, you can find the most popular currencies from the top twenty (see below). Further, Coinbase also does not deny that our native Steem currency will soon appear on the exchange, and also Dogecoin and Telegram (TON) are on the list, which interesting.
What is Coinbase Custody? Custody itself is a combined platform for broker-leaders, institutionals and other big groups, which can be named, for those who can play with big amounts on it. Coinbase Custody has become officially opened for business during the first days of June. As Sam McIngvale (Product Lead) said, CC mission is "to make digital currency investment accessible to every eligible financial institution and hedge fund in the world", which can sound too loud at first sight, but, today we see that company can probably provide one of the largest specific markets.
📌 Bithumb re-opens deposits and withdrawals of 10 currencies
Exchange in a difficult situation: the company starts to deal with the risk
One of the largest operating South Korean exchanges allowed its users to withdraw funds in 10 cryptocurrency assets. So far, there is an opportunity to freely withdraw the most popular ones, among them: BTC, ETH, XRP, ETC, LTC, BCH, XMR, ZEC, QTUM and MITH.
Reminding, the withdrawals of the other cryptocurrencies are not available due to the difference in rates on Bithumb and on the market as a whole. As you remember, this platform underwent a hacker attack and faced the increased conditions from the partner bank, which appeared because of distrust in the security of the exchange. Therefore, it is clear that Bithumb is at least ready to return funds to its users, and the company is also actively supported.
📌 More updates
- General: Bitcoin's market share is raised to the values which are highest since December 2017. Almost the same situation was observed during the launch of BTC futures.
- Did you know? Coinbase also confirmed the support of ETC (Ethereum Classic). At the moment, the currency has received support of up to 10% in total, trading at $16. ETC transfers will be opened on Tuesday, August 7.
- Development of the TRON Virtual Machine continues. At this time, Justin Sun stated that TRON will start to resembling Ethereum’s distributed system, noted that this is will be a key point in this process.
Know more interesting events/important updates? Please write a comment about it.
💱 Exchanges TOP
Binance 1.36B → 18.78%
OKEx 925.17M → 12.82%
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Really there is a lot of positive news going in the market. We are hoping for a big boom in prices.
In my opinion it definitely should happen. But we don't know exact timing.
BTC down. To buy or to wait. Who knows...
Best investors and traders are saying - "buy the dip, sell on the high." We don't know how low it can be but I think that Btc will be higher in the future. Not an advice, just my point of view.