Welcome to my Cryptocurrencies Market Overview for Wednesday, December 13, 2017.
Today in the news:
- All cryptocurrencies combined have reached a market capitalization of half a trillion dollars today.
- Ebay is 'seriously considering' accepting bitcoin.
- Coinbase CEO Armstrong noted that Coinbase will be adding several new cryptocurrencies in 2018.
- Ethereum reached $750 today to set a new all time high.
- And more crypto news below...
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Latest Crypto News - December 13, 2017
Bitcoin, Altcoins Combined Reach Market Capitalization of Half Trillion Dollars
Cryptocurrency continues its incredible surge, with the combined market capitalization of all digital currency reaching $500 bln. According to the Wayback Machine, on December 15, 2016 - almost exactly one year ago - the total market cap stood at around $15 bln. Today’s price movements bring the total return of the entire sector to about 3,333%, year-over-year. Virtually anybody who owned crypto a year ago, and still holds it, is a winner.
Read more: cointelegraph.com
Ebay is 'seriously considering' accepting bitcoin
On eBay right now, you can buy a Complete Cryptocurrency GPU Mining Rig for $2,586, or a “Just Hodl” (a bitcoin inside joke) hoodie for $33.99, or a “collectible bitcoin gift coin” for 99 cents. There are hundreds of bitcoin-related items, but you can’t pay in bitcoin. Yet. Scott Cutler, senior vice president of eBay Americas, told Yahoo Finance in an interview this week that the online retailer is “seriously considering” accepting bitcoin, but “we’re not quite there yet.”
Read more: yahoo.com
Bulgaria Seizes Enough Bitcoin to Pay Off 1/5 of National Debt
Following an undercover bust of an underground crime network, Bulgaria has seized enough Bitcoin to settle a fifth of its national debt. According to ZeroHedge, the Bulgarian crime enforcement agency and the Southeast European Law Enforcement Center caught 23 Bulgarian criminals and confiscated a total of 213,519 Bitcoins - roughly valued at $3.5 bln.
Read more: cointelegraph.com
IOTA Clarifies Misleading Microsoft Quote: No Official Partnership
The IOTA team clarified this week that it has no formal partnership with Microsoft, following the wide misinterpretation of a quote from Microsoft on IOTA’s official blog included in an announcement about IOTA’s Data Marketplace. The quote from Microsoft seemed to indicate an official partnership between the two companies and investors reacted to the news accordingly.
Read more: cointelegraph.com
Other sources:
- IOTA's Partnership with Microsoft is Exaggerated (Cryptovest)
SEC Chairman Believes ICOs Can Be Effective to Raise Funding
Ever since the SEC issued its initial comments regarding initial coin offerings, people have been wondering how this situation would evolve. Things have been somewhat quiet on this front, despite its Cyber Unit coming to life not long ago. SEC Chairman Jay Clayton recently issued a statement on cryptocurrencies and initial coin offerings. As one would expect, there are a lot of questions which will need to be answered before any real growth can be expected.
Read more: themerkle.com
Coinbase To Add Many More Altcoins In 2018 Says Co-Founder And CEO Brian Armstrong
In an interview with CNBC, Coinbase co-founder and CEO Brian Armstrong discusses how bitcoin and other cryptocurrencies are becoming Stock Market 2.0. Armstrong also notes that Coinbase will be adding several new cryptocurrencies in 2018 to go along with the three they currently offer — bitcoin, ethereum, and litecoin.
Read more: coindingo.com
Ethereum Surges Past $600 on UBS Announcement of Ethereum-based Initiative
Ethereum, the number two digital currency by market capitalization, topped $600 today to set a new all time high. According to CNBC, the surge comes as UBS announced they will head an Ethereum-based Blockchain initiative along with Barclay’s, Credit Suisse, KBC, Swiss stock exchange SIX and Thomson Reuters. The initiative is designed to help these companies comply with new European Union trade data standards that go into effect in 2018.
Read more: cointelegraph.com
Other sources:
South Korea Imposes Six Conditions for Crypto Exchanges to Operate
The government of South Korea is preparing a bill which attempts to prohibit all transactions involving cryptocurrencies including bitcoin unless they take place through exchanges that meet six conditions.
Read more: bitcoin.com
Ripple (XRP) Price Surges to $0.51 as Bitcoin Hype Calms Down
For once, most of the current cryptocurrency-related discussions will not revolve around Bitcoin, Ethereum, or Litecoin. Instead, we saw XRP gain a lot of value overnight and reaching a new all-time high. It has been a while since the XRP price showed any significant momentum. However, things are looking pretty good right now. Whether or not we will see more XRP price gains, remains to be seen, though.
Read more: themerkle.com
Only Big Broker Offering CME Bitcoin Futures Allows Whales to Short
Sunday’s historic opening of Chicago Board Options Exchange (Cboe) bitcoin futures proved almost too much for the legacy market maker. The world’s most popular cryptocurrency, however, remained resilient, and contracts went long, assuming its price would continue to rise, bullish. As its crosstown rival Chicago Mercantile Exchange (CME) readies for its bitcoin futures this coming Monday, the only major broker offering such futures reversed course and is now allowing its monied-clients, whales, to also short bitcoin, an expensive and risky trade for bulls.
Read more: bitcoin.com
Bitcoin's Lightning Network, Simply Explained!
Bitcoin has a 7 transaction/second limit, so how can we overcome this? The Lightning Network is one of the proposals and in this video I'll explain how it works.
