#WeeklyCryptoNews

#WeeklyCryptoNews

Cryptocurrencies

  • Bitcoin. The downward movement continues. This week, the further plunge of Bitcoin was caused by negative news from the SEC (Security and Exchange Commission). The Commission extended the decision period for bitcoin-ETF VanEck and SolidX to September 30. As a result, the market reacted negatively. The cryptocurrency has plunged below $6,500. The low of the week is $6,128. Up to now, Bitcoin has been trying to recover. But the psychological level of $6,500 is too strong. If there is positive news, the price will break above $6,500. The next resistance is at $6,775. Otherwise, the digital currency will fall to $6,000.

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  • The owner of the account with 1 billion Ripple tokens sold 10 million XRP ($5 million) again. As a result, during the first quarter of 2018, he has already sold 500 million XRP. This news caused a fall of Ripple.
  • Ethereum Classic is at 3-month highs. The rise might be caused by the listing on Coinbase and the addition of a coin by the Robinhood application.

Regulation

  • The US Drug Enforcement Administration reported a decline in bitcoin usage in crimes. Only 10% of all transactions are related to crimes. According to the Administration, during 5 years, the number of legal bitcoin transactions has exceeded illegal.
  • The Bank of Thailand allowed commercial banks to buy and sell cryptocurrencies but under control of the Security and Exchange Commission of Thailand.

Blockchain

  • Lite.IM software was released. This software will let users do transactions in the Litecoin network by text messages and Telegram.
  • Intuit company got a patent for processing bitcoin payments using text messages. A payment service will receive a message from a sender with the amount of payment and identification number of the receiver’s device.

Cryptocurrency exchanges

  • The cryptocurrency boom is beginning in Thailand. 20 cryptocurrency exchanges have applied for a license to trade cryptocurrencies.
  • Goldman Sachs is considering an opportunity to launch custody services for cryptocurrency funds (a service in which a brokerage or other financial institution holds securities on behalf of the client). It will lower risks of losses in case of hacking attacks.
  • Bittrex will add new pairs with the USD on August 20. Users will be able to trade Ethereum Classic and Ripple in a pair with the USD.
  • OKEx launched a CoinAll cryptocurrency exchange that is ruled by the community and released 10 billion CAC tokens.
  • Coinbase Pro added Ethereum Classic. Now users can trade such pairs as ETC/USD, ETC/EUR, and ETC/BTC. Moreover, the cryptocurrency exchange announced the launch of the instant trading option for users who replenish the dollar deposit by bank transaction and an increase in the daily trading limit to $25,000.

Just for fun

  • A group of bitcoin enthusiasts from the international #Findsatoshi team launched a fundraising to find the bitcoin creator Satoshi Nakamoto. The group is going to gain around $236,000. To find Satoshi, they are going to hire detectives from international agencies. Enthusiasts want to find out the future of bitcoin. And only Nakamoto can give the answer.Let us remind you that in July an unknown author announced a release of the Satoshi Nakamoto book. Later, experts on digital processing of databases conducted a stylometric analysis of the text, which allegedly was written by Satoshi himself. They came to the conclusion that authorship may belong to Satoshi.

Bitcoin $6,361.9 (+0.19%)

DASH $183.29 (+4.08%)

Ethereum $358.12 (-0.62%)

Litecoin $61.328 (-1.70%)

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