Crypto Market Update (29 June 2018)

Bitcoin Global News (BGN)

June 29, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market took another hit, dropping back down to previous lows for the most part. Most coins in the top 100 are down, but RChain (RHOC) is one standout of the group up over 8% in the past 24 hours. Bitcoin is right around $5,900 for about -3% change and Ethereum is right at $415 for 5% change in the past 24 hours. Market cap for the overall cryptocurrency market dropped again, losing around $10 billion doin to $235 billion total. Trading volume is rising.

Major Headlines

FBI tracking 130 crypto-related cases

There are 130 on going cases related to cryptocurrency within the FBI, but this is just a small sliver of their activity. The remarks were made at a crypto-conference focused on market structure called “Crypto Evolved,” hosted at the New York Athletic Club on Wednesday. The argument against cryptocurrency is often that it can be used to facilitate illegal transactions, but so can cash. Last year a global study found that just 10% of drug purchases are made using “non-traditional methods.” And beyond drug sales, the FBI’s cases involve ransomware attacks, and hopefully higher on the priority list - human trafficking and kidnapping.

Amber Baldet and Coinbase

Coinbase has added Amber Baldet to their advisory board. She was a member of Forbes “40 under 40,” CoinDesk’s Most Influential list, and most notably lead the Quorum project for JPMorgan. However, she began consulting for JP Morgan way back in 2009 and took a permanent position with the bank in 2011. She does not have a computer science background, but taught herself to code. After being introduced to Bitcoin, she dove in head first to expanding the possibilities of the technology. She left JPMorgan to found her own company, Clovyr, a startup to accelerate decentralized application development.

Alibaba Creates Blockchain Payment Patent

"A System and Method That Adjusts Account Balance on a Blockchain" – was filed with the China State Intellectual Property Office in January, but was not made public until this week. The purpose is to optimize adjusting account balances over a blockchain.The system could be used to facilitate cross-border transactions that specifically involve a third-party payment vendor. In the patent, third-party payment services and their banking partners in different regions will all function as nodes to form the blockchain. Each node will maintain a ledger of user balances, reflecting accounts in third-party payment vendors' mobile wallets. Ultimately, this brings the same benefits as traditional cryptocurrencies of eliminating the need for an intermediary and avoiding the resultant delays in transaction time.

Top 5 Gainers

Sharpe Platform Token (SHP) +37.27% at $0.154848

Selfkey (KEY) +24.65% at $0.014055

SalPay (SAL) +22.52% at $0.062029

WINCOIN (WC) +15.28% at $0.444094

Pura (PURA) +13.89% at $0.086926

Top 5 Losers

BigONE Token (BIG) -52.79% at $1.24

PeepCoin (PCN) -43.31% at $0.000053

BioCoin (BIO) -28.18% at $0.004748

1World (1WO) -27.28% at $0.100809

Zippie (ZIPT) -27.28% at $0.022115