Bitcoin Makes Gains, Nearly At $7,500
On Tuesday 17 of June, the rate of the first cryptocurrency finally overcame the psychologically important mark, jumping by $600 in just half an hour. Bitcoin has surpassed the $ 7,000 barrier for the first time in more than a month and is still climbing on Wednesday 18.
WHY IS IT IMPORTANT?
1. Brian Kelly, chief executive of the investment company BKCM, is convinced that the sudden rise in bitcoin is due to short positions, after exceeding the critical level of $6,800. “People were shorting against that and they just got their face ripped off," he said.
SBI Launch VCTRADE Exchange For Public
The launch of VCTRADE crypto exchange by Japanese financial giant SBI Holdings took place last month. However, the service was opened only for the selected group of users who were pre-registered in October last year. But now, representatives of SBI Holdings have reported that trading on VCTRADE is available to all users from Japan between the ages of 20 to 70 years.
WHY IS IT IMPORTANT?
1. The launch of trading on the platform was repeatedly postponed due to the need to strengthen internal security systems. Such measures were taken because of a hacker attack of another Japanese cryptocurrency exchange Coincheck in January this year.
2. Financial Services Agency (FSA) began to consider tightening the regulation on the cryptocurrency trade. Some crypto exchanges like are leaving the Japanese market because of the laws that are in force now. Huobi Pro crypto exchange, currently the 5th largest platform by 24 hours volume suspended its service for traders and investors from Japan. A major trading platform was not licensed by the Japanese regulator.
Oracle Unveils Blockchain Platform
Oracle Corp. (NYSE: ORCL) has announced the launch of its own blockchain platform, which is designed to increase the efficiency of transactions and authentication processes in the supply chain. The official launch was preceded by a series of tests with the participation of customers from the banking industry, business, and governmental sector.
WHY IS IT IMPORTANT?
1. Oracle Blockchain Cloud Service (OBCS) is built on Hyperledger Fabric technology and is focused on achieving maximum efficiency in the transfer of transactions.
2. Oracle Blockchain Cloud Service aids firms with setting up blockchain networks for safer operations and tracking of goods on supply chains globally while also creating their own channels for secure information exchange and rapid integration with Oracle SaaS and PaaS-services.
Coinbase Denies Own Statements about SEC's Approval
Coinbase has rejected information that the platform received any approval from SEC to buy broker-dealers. It became known Tuesday, that the regulator was approved by the American Cryptocurrency Company, Coinbase to purchase broker-dealers, Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. However, according to the company's representatives, SEC’s approval was not required for the transition of the management of the acquired companies to the management of Coinbase.
WHY IS IT IMPORTANT?
1. Keep in mind that the purchase of these companies will let Coinbase open trades with tokens, which in terms of U.S. laws are considered securities, as well as conduct brokerage and dealership activities under the control of the federal authorities.
2. Another representative of the exchange on the contrary, confirmed the fact of an agreement to deal with the regulator. The confusion with the statements has already provoked a negative reaction from the crypto community.
Mastercard Wins Crypto Patent
The financial services giant Mastercard (NYSE: MA) has met its customers wishing to accelerate transactions in the cryptocurrency and plans to make transfers more secure for the recipients. The document, which was posted on the website of the United States Patent and Trademark Office (USTPO), says that the amount of users who prefer translations in the cryptocurrency is rising, but the processing speed of transactions leaves much to be desired.
WHY IS IT IMPORTANT?
1. The technology will assist the payment network with evaluating the chances of scams and risks in the operation of transactions. To do this, the system will assess the data of credit bureaus, demographic information, as well as historical data on transactions in the blockchain.
At 19:20 (GMT+1) total cryptocurrency market capitalization stands at $ $297,06 billion
Stellar (+21,19%) showed the best growth in the top-10
Bitcoin Diamond (+48,16%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $19,55 billion (+3,2 billion per day)
Mining Profitability
- BTC $3,7 for 10 TH/s
- ETH $0,36 for 10 MH/s
- BCH $0,39 for 1 TH/s
- LTC $4,74 for 1 GH/s
- DASH $0,16 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
- 20 July Humanscape
- 20 July Pool of Stake
- 21 July OSA DC (OSA)
- 23 July Casper API