Crypto Market Update (18 June 2018)

Bitcoin Global News (BGN)

June 18, 2018 -- ADVFN Crypto NewsWire

General Market Outlook

The market continues to consolidate after last weeks big downtrend. Most altcoins are slightly down, but trading volume continues to climb. Docademic (MTC) is the standout of the top 100 coins - up about +25% in the past 24 hours. Bitcoin is right around $6,500 for about -.5% change and Ethereum is right at $500 for -.5% change in the past 24 hours. Market cap for the overall cryptocurrency market lost just over $1 billion down to $278 billion total.

Major Headlines

CEO of eToro and ConsenSys bullish on Blockchain

More than 1,000 cryptocurrency startups worldwide have raised over $10 billion over the last two years. But Yoni Assia of eToro says 95% of ICOs will fail, but this doesn’t mean that they aren’t helping the space develop. Similar to the dot com bubble, every company is part of creating the path that leads to companies like Google and Amazon. Joseph Lubin of ConsenSys describes this process as “creative destruction” - an inevitable consequence of new technology booming in every major industry. Assia believes investing in crypto is "as good as an investment in the internet 10 years ago."

Brazilian Bitcoin Coffee Machine

A Brazilian entrepreneur programmed a coffee machine to run on Bitcoin as an experiment to spread awareness of “programmable money.” Many people think of Bitcoin just as a regular digital currency, a kind of internet gold. However, there are definitely more complex mechanisms that can be set up using Bitcoin. This experiment uses payment confirmation as the “brew” button. When the device knows that the Bitcoin wallet associated with the coffee machine has received enough BTC, it begins to brew. Doesn't seem like much, but it’s an expression of the future capabilities through cryptocurrencies, such as smart stores. Paying for things will become much more fluid.

Major Russian banks experimenting with cryptocurrency

Sberbank, the main state-owned bank responsible for processing government employee paychecks, and Alfa Bank, the largest private bank in the nation, plan to enter crypto trading with the help of the AddCapital investment fund, the National Settlement Depository and Group IB. Sberbank and Alfa Bank will offer their clients shares in a special fund that will be trading the six most popular cryptocurrencies on major exchanges, including Kraken and Bitstamp.

"We'd like to offer our clients an absolutely transparent way to invest in digital assets with a full compliance with regulations that will let them invest in the product they are interested in Russia. Our goal is to speed-up the recognition of the digital assets as legitimate financial assets as soon as possible," said Anton Rakhmanov, manager of Alfa Bank's private banking branch.

Top 5 Gainers

Bezop (BEZ) +67.11% at $0.178040

OneRoot Network (RNT) +54.90% at $0.095976

Dascoin (DASC) +53.55% at $0.125756

FirstCoin (FRST) +44.71% at $0.056614

Endor Protocol (EDR) +43.81% at $0.125478

Top 5 Losers

Super Bitcoin (SBTC) -83.44% at $9.54

Artex Coin (ATX) -31.41% at $0.000325

MIRQ (MRQ) -28.93% at $0.181053

Naviaddress (NAVI) -24.14% at $0.007879

Skycoin (SKY) -24.02% at $7.68