Ethereum is down 24% this week at the $308 level greatly exaggerating Bitcoins movements. The move comes as bitcoin dominance has hit 50% sending alt coins spiraling down.
The entire coin market cap is down 19% to $206 billion. The massive drop comes as the market experienced a substantial decline in volume.
Robinhood, Coinbase Pro to List Ethererum Classic – This week, Ethereum Classic became the sixth cryptocurrency listed on stock trading app Robinhood, whose crypto trading service is now available in 19 U.S. states. Later in the week, Coinbase began accepting ETC deposits on Coinbase Pro (formerly GDAX), its order-book cryptocurrency exchange, with trading against both USD and other crypto assets slated to commence later in the year.
Barclays May Be Opening Crypto Trading – Business Insider reports that a Barclays employee’s LinkedIn profile stated that he’s been “hired to produce a business plan for integrating a digital assets trading desk into Barclays’ marketing business.”. The profile has since been changed to remove digital currency references.
Ripple Coming to Coinbase Custody – In a statement, which appears on the official Coinbase blog specifies that the assets listed including Ripple (XRP), Monero (XMR) and EOS, are being considered for listing only, and have no bearing whatsoever on trading-related products and services.
Bitmain’s $18 Billion IPO – Mining giant has been valued at $18 billion after the firm closed a $1 billion funding round by Tencent and SoftBank Group, two of the most influential companies in the global technology market.
Overstock Raises $270 million for Subsidiary tZero – A new investment by GSR Capital will see it acquire about 3.1 million shares of US-based Overstock, amounting to about 10% in overall shares of the company. In a letter of intent as confirmed by Forbes, GSR Capital will invest as much as $270 million to acquire 18% of tZero platform in the initial stage of the investment. Afterward, the company shall pay another $104.55 million for a 10% stake in OVerstock.
No, Starbucks isn’t Accepting Bitcoin – Contrary to reports in mainstream media, Starbucks has clarified that it will not be accepting direct bitcoin payments at coffee retail outlets. Rather they will help customers convert digital assets like Bitcoin into US dollars, which can be used at Starbucks.
Goldman Sachs is Bearish – Writing in the firm’s midyear economic outlook report, a team of Goldman investment strategists predicted that, despite having already shed more than $12,000 since its mid-December peak, the bitcoin price will likely continue on a downward trajectory.
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