Evening Market Recap: July 8th, 2017 - Beware the Scammers

chasewest (50)in #crypto-news • 7 years ago (edited)

Market Summary

Market Cap: $97,537,795,227
24h Vol: $2,700,012,203
BTC Dominance: 43.7%

We've regained quite a bit more of the total market cap, up to $97.5B. Bitcoin dominance has fallen slightly since this morning, as the altcoins have started to reclaim a bit more value after a could of rough down days. As you can see from the image there's a lot of green on the board today. Many coins are up double digit percentages over the last 24 hours, with most up over the last hour. It's hard to resist those low prices when coins start to fall, so I can't imagine any kind of drop lasting for too long. It feels quite a bit better than earlier this morning, where the majority of coins were down. Surprisingly enough, Bitcoin is actually up over the last 7 days, so while there's uncertainty in the market, the price has been rather stable in the $2500 range.

Warning

There are a lot of phishing scams going around slack, telegram and reddit here lately. Be cautious clicking any links you may see trying to access your wallets. Here are some examples I saw today:

News

Polish Authorities Issue Sweeping Condemnation of Bitcoin and Other Digital Currencies

https://news.bitcoin.com/polish-authorities-issue-sweeping-condemnation-of-bitcoin-and-other-digital-currencies/

Polish authorities, regulators, and banks issued a sweeping statement warning of the risk of bitcoin, ethereum, and other cryptocurrencies. They said these currencies are not national or legal tender and cannot be used to pay taxes. They do not fall within the guidelines provided by Polish Financial Supervision Authority. Businesses, especially, should be wary about adopting or trying to use “virtual currencies.”

Cryptocurrency Ecosystem Continues to Grow as Coinbase Adds 1m new Users in June

http://www.altcointoday.com/cryptocurrency-ecosystem-continues-grow-coinbase-adds-1m-new-users-june/

Bitcoin adoption is increasing lately. According to some unconfirmed sources, Coinbase has seen a huge growth in customers throughout June of 2017. The company allegedly added one million users to its already substantial customer base. Unfortunately, the company has not officially confirmed these numbers, making it hard to gauge the current pace of Bitcoin adoption and use.

Blockchain to Help Control US Marijuana Industry

http://www.altcointoday.com/blockchain-help-control-us-marijuana-industry/

CyberCar, the Colorado-based IoT car security firm, is putting their knowledge of Blockchain technology to work in helping monitor the medical marijuana industry by providing solutions for tracking and maintaining standards in delivery systems. The company has partnered with WebJoint, a software-as-a-service (SaaS) company designed to help marijuana companies track patient verification and control online stores and points of sale.

Bitcoin Price Fall Is Not Real – Marc Kenigsberg

http://www.altcointoday.com/bitcoin-price-fall-not-real-marc-kenigsberg/

Marc Kenigsberg, CEO of Jamworx thinks the recent Bitcoin price dip is a minor retreat from the highs of 2017. According to Kenigsberg, there are two primary factors reducing the price at the moment: “Firstly, some of the speculative money that has been invested in the last few months by outside investors is being taken off the table as profits. Secondly, the market is still reacting to Bitmain’s threat tactics and the risk of a possible hard fork as retaliation for UASF. Ultimately Bitcoin is still up almost 150 percent YTD so I’m not concerned at all. Clearly, the fundamentals are strong and the demand is still increasing.”

CFTC Approves Options Trading In Bitcoin

http://www.zerohedge.com/news/2017-07-08/cftc-approves-options-trading-bitcoin

This week, the CFTC took a bold step forward in terms of granting institutional investors access to the bitcoin market, approving the creation of the first SEF or Swap Execution Facility. Previously, traders who wished to place bets in bitcoin derivatives markets were forced to operate in markets that were strictly OTC. But now the agency has issued a registration order to LedgerX, granting it status with the CFTC as a Swap Execution Facility, in the process approving bitcoin options trading.

Wall Street Market Adds Support for Monero

https://www.deepdotweb.com/2017/07/07/wall-street-market-adds-support-monero/

On May 22, the Wall Street Market technical operator said that staff were a bit busy “working on a new big feature for WSM.” And on July 6, the Wall Street Market (WSM) staff revealed that big feature: Monero implementation. Currently, Wall Street Market is the only darknet marketplace with Monero support. Both Alphabay and and Oasis enabled Monero transactions in August. But Oasis vanished. And Alphabay went offline in early July—temporarily, according to Alphabay staff members on Reddit. Nevertheless, until Alphabay returns, WSM is the only Monero-accepting marketplace.