Key Facts Of The Day 07.08.2018
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Robinhood Follows Coinbase Adding Ethereum Classic

Mobile application for trading in cryptocurrencies with zero commission fees has added a support for Ethereum Classic.

WHY IS IT IMPORTANT?

1. Reacting to the news, the price of ETC (ETC/USD) came close to a three-month high, despite the overall market fall. Ethereum Classic is currently trading for $19.04 showing 10,20% grows in the last 24 hours.

2. The growth of the coin value, which is conditioned solely by external factors, rather than by a fundamental change in the supply-demand ratio, may appear short-termed.

First Congressman to Reveal Crypto Holdings

Chair of the House Judiciary Committee, Congressman Bob Goodlatte became the first U.S. Politician who has revealed his cryptocurrency investments. Earlier this year House Ethics Committee prepared a memorandum, urging Members of the U.S. House of Representatives to disclose their virtual investments if they exceed $1,000.

WHY IS IT IMPORTANT?

1. Cryptocurrencies which were not considered earlier as a source of income could have been used as a method of hiding money.

2. Clearly, Congressman Goodlatte is not the only member of the house with crypto assets, it is expected more politicians will reveal their holdings. Revealing crypto possessions by politicians might invoke trust among people who voted for them.

3. This might actually help to reach a consensus on regulations and work on the benefit for long-waited crypto products.

Crypto Pump Dumps Afoot

Invite-only groups with membership fees are getting organized, acting together to pump the cryptocurrency prices high before dumping them in a matter of minutes and leaving clueless investors with big losses, according to Wall Street Journal. These Pumpy-Dumpy organizations are waiting for a signal over chat groups to quickly start buying as much as they can.

WHY IS IT IMPORTANT?

Pump and Dump schemes - are one of the oldest manipulations in financial markets: a group of people artificially inflate the price of an asset before "dropping" it at a profit.

2. The Securities and Exchange Commission (SEC) of the USA regularly discloses such cases on the stock market, however, in the cryptocurrency market, the situation is complicated by its non-transparency.

Only 10% of Bitcoin Transactions are Related to Crime

The U.S. Drug Enforcement Administration (DEA) announced a significant decrease in the use of bitcoin in criminal activities. As representatives of the agency noted, only 10% of all transactions are related to crime, while the volume crypto deals has grown significantly.

WHY IS IT IMPORTANT?

1. Statements that criminals use cryptocurrency for money laundering and terrorist financing have long been heard by bitcoin critics. In addition, many central banks regularly put bitcoin in the claim of its anonymity.

2. As the published data show, these statements are far from the truth. Gradually, the market of cryptocurrencies is becoming more mature, and the digital assets themselves are used for positive purposes.

Brazilian Presidential Candidate Stands for Blockchain

The candidate for presidency from the Partido NOVO of Brazil, João Amoêdo, voiced his opinion about blockchain innovations and cryptocurrencies. According to Amoêdo, blockchain should be implemented in various areas of the public sector. He also responded positively about cryptocurrencies. The presidential candidate does not consider digital assets a threat to the traditional banking system.

WHY IS IT IMPORTANT?

1. In October this year, Brazilian voters will come to the polling stations to select a new president, vice president, members of Congress, governors and other state officials. João Amoêdo invites them to vote for innovation.

2. It’s worth noting that Partido NOVO is already actively working on the creation of an innovative fintech platform, as well as on the integration of the blockchain into electronic voting, the state administration and the system of digital identification of citizens.

At 20:30 (GMT+1) total cryptocurrency market capitalization stands at $254 billion

Stellar (+2,83%) showed the best growth in the top-10 Pundi X (+28,95%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $11,34 (+1.86 billion per day)

Mining Profitability

  • BTC $3,1 for 10 TH/s +
  • ETH $0,3 for 10 MH/s +
  • BCH $0,26 for 1 TH/s -
  • LTC $4,1 for 1 GH/s -
  • DASH $0,11 for 1 GH/s same

Ongoing ICOs:

Expected ICOs:

Click here for the full list of ongoing ICOs.

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