Crypto Market Update (15 June 2018)

Bitcoin Global News (BGN)

June 15, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market continues to recover. Most altcoins are slightly up, and trading volume continues to climb. Basic Attention Coin (BAT) and Mithril (MITH) are the standouts of the top 100 coins - up about +13% in the past 24 hours. Bitcoin is right around $6,600 for about +1.5% change and Ethereum is right at $500 for +1.5% change in the past 24 hours. Market cap for the overall cryptocurrency market grew over $4 billion up to $283 billion total.

Major Headlines

ItBit Becomes 1 of 6 Licensed Crypto Companies in NY

New York has historically been at the forefront of the crypto hype and hate as the center of world trade and the most active regulators. ItBit is the newest licensed trader. Operating as ItBit, the company is legally registered as Paxos. On May 6th 2015, Paxos became the first Bitcoin exchange to become a trust company, receiving a charter from the NYDFS. But the charter was granted for trading Bitcoin only. The new approval expands their services for trading and custody to Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Stellar (XLM). At the same time the NYDFS also approved Genesis Global Trading, a company designed to help trade institutional sized crypto stacks. Only four other firms have received this virtual currency license so far, bitFlyer, Coinbase, Ripple and Circle.

William Shatner and Solar Powered Crypto Mining Facility

Captain Kirk is now the face of a massive, solar powered cryptocurrency mining facility in Illinois. TO be more specific, massive is 165,000 square feet. This is just about four football fields. This is a huge investment, and is doing it in a way that’s built to last. One of the arguments against cryptocurrencies is that they consume too much energy. Although it also is very energy intensive to create use and exchange cash and physical coins as well. In addition, the technology behind the mining process is advancing quickly to reduce how much energy it uses.

Countries in Africa are Slowly Catching On To Crypto

Cryptocurrencies do not inflate. This can help situations such as Zimbabwe where there is a $100 trillion dollar bill. So while the cryptocurrency market is crashing again, it’s actually growing in Africa. Nigerian Bitcoin transactions increased from NGN1.3 billion to NGN1.5 billion (US$1.4 billion). Lack of financial regulations in many African countries will continue to entice people to convert to cryptocurrencies. Real Estate ownership issues are a major problem as well - Bitland is trying to fix that with the immutability of information on a blockchain. Paxful (most commonly used Bitcoin trading platform in Africa) did a study of who exactly the users are in South Africa, Kenya, Nigeria, and Ghana. The push is led by the youth, aged 30 and younger.

Top 5 Gainers

FirstCoin (FRST) +135.22% at $0.101267

DigiCube (CUBE) +102.58% at $0.000132

Coupecoin (COUPE) +92.06% at $0.000131

Interstellar Holdings (HOLD) +84.08% at $0.007665

BitSoar (BSR) +47.70% at $0.000330

Top 5 Losers

BelugaPay (BBI) -45.24% at $0.179569

HelloHold (HGT) -42.34% at $0.009811

Fidelium (FID) -30.26% at $0.034005

Hurify (HUR) -29.02% at $0.052499

BuzzCoin (BUZZ) -28.04% at $0.000132