Weekly Cryptocurrency Market Update

Market Update

At the time of writing, the Bitcoin price is sitting at 16,649, representing a loss of 0.2% in the last 24 hours. More than $2.45B worth of BTC were exchanged in the BTC/USD market, representing a 40% share of daily volume. The BTC/JPY volume represents a 37% share.

The Ethereum price has risen by 10% over the past 24 hours, and is currently sitting on $717, with over $1.25B worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 40% market share of the daily trading volume.

The Bitcoin Cash price has risen 22.2% over the last 24 hours and is currently sitting at $1848. More than $350M worth of BCH were exchanged in the BTC/USD market, which has a 23% share of daily volume.

South Korean Banks Drop Crypto Accounts as Government Plans a Ban

South Korean regulators have allegedly announced a plan to ban banks from activities involving cryptocurrencies, prompting major banks in the country to declare they will no longer issue accounts required for crypto trading. South Korea’s top Bitcoin exchanges are all affected, including Bithumb,Coinone, and Korbit. The Banks that have made announcements are Shinhan Bank, Korea Development Bank, and Industrial Bank of Korea. According to AFP:

“The Prime Minister’s Office said Seoul would ban financial institutions from dealing in virtual currencies – including buying, possessing, or holding them as collateral.”

Read more here

ICO Utility Tokens Are Probably a Securities Offering: SEC Chairman

The U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton issued a public statement on cryptocurrencies and Initial Coin Offerings (ICOs), providing blockchain startups and ICO investors with the most in-depth look into the SEC’s stance on this fundraising model. Chairman Clayton stated:

“A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation. By and large, the structures of Initial Coin Offerings that I have seen promoted involve the offer and sale of securities and directly implicate the securities registration requirements and other investor protection provisions of our federal securities laws”

Read more here

Japan’s GMO Internet to Roll Out Bitcoin Payroll System

Japanese web giant GMO Internet Group revealed yesterday that it soon allow its staff to receive some of their salary in Bitcoin. The company plans to start rolling out the system from February 2018 within GMO Internet Co Ltd, with a gradual expansion across the entire group and over 4,000 employees to follow. The company states:

“The GMO Internet Group will contribute to the development of virtual currencies in the world by promoting efforts related to virtual currency throughout the group.”

Read more here

Facebook Messenger VP Joins Coinbase’s Board of Directors

Coinbase has announced the addition of David Marcus, vice president of messaging products at Facebook to its board of directors. David Marcus will bring years of experience in building large-scale mobile products, according to a Coinbase statement posted yesterday.

Previously president of online payment giant PayPal, Marcus said that he has been “fascinated by cryptocurrencies since 2012,” and that the technology “has the potential to materially change the lives of people around the world.” Brian Armstrong, CEO and co-founder of Coinbase, said:

“David’s knowledge of both the payments and mobile space will help guide us in achieving our mission of creating a truly open financial system that will bring opportunity to people all across the globe.”

With the explosion of interest recently- due to some of the massive gains seen in the various cryptocurrencies, they have become difficult to ignore. One problem we noticed, is that nearly all of the coin news and content across the web is produced by those who are trying to push their coin and or services. Literally every news source is either directly involved, or indirectly (an exchange)

It’s nearly impossible to find unbiased content on which coins might merit attention.   On top of that, if you’re not a tech geek- even figuring out how and where to buy Bitcoin, or any of the other cryptocurrencies is enough to make one feel like a monkey humping a football.  Cryptocurrency Clarified is here to change that.  We are cryptocurrency simplied. In layman’s terms… for the rest of us.

Follow Our Blog for unbiased coverage and news on the various cryptocurrencies as well as educational material on how to buy and store (safely) if you choose to do so.  If not, that’s cool too, stick around and hopefully you’ll learn a thing or two.

Disclaimer:
The information provided on this website does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of the website’s content as such. CryptoCurrencyClarified does not recommend that any cryptocurrency should be bought, sold or held by you and nothing on this website should be taken as an offer to buy, sell or hold a cryptocurrency. Do conduct your own due diligence and consult your financial advisory before making any investment decision.
Accuracy of Information
CryptoCurrency Clarified will strive to ensure accuracy of information listed on this website although it will not hold any responsibility for any missing or wrong information. You understand that you are using any and all information available here AT YOUR OWN RISK.
Price Risk
The price of Bitcoin and other cryptocurrencies are highly volatile. It is common for prices to increase or decrease by over 20-100% in some coins in a single day. Although this could mean potential huge profits, this also could mean potential huge losses. DO NOT INVEST ALL YOUR MONEY IN CRYPTOCURRENCIES. Only invest money which you are willing to lose.
Cryptocurrency trading may not be suitable for all users of this website. Anyone looking to invest in cryptocurrencies should consult a fully qualified independent professional financial advisor.

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