Let’s Talk Cryptocurrencies – Week 28

Let’s Talk Cryptocurrencies – Week 28

Let’s Talk Cryptocurrencies is BullMarketz weekly update of everything that’s happened on the cryptocurrency market in the past week. We cover all the ups and downs and provide you with all the information you need to make well-informed decisions about your investments in digital currencies. This summary is not excluded to the major currencies such as Bitcoin and Ethereum but includes all digital currencies.

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There is a market upswing occurring right now, and since last week most cryptocurrencies have increased in both market cap and price. Although, most of the growth happened early last week and the development has since calmed down with few to no gains over the weekend. People are now anticipating Bitcoin to continue leading the bull run and break $7,000 before the week is over.

In addition to the market upswing, we have other news to report on. For example, Gemini has hired a former NYSE executive, eToro is getting ready to start launching their new cryptocurrency products, and cryptocurrency ETFs will become more available in Europe. That and much more in today’s Let’s Talk Cryptocurrencies.

On Friday the cryptocurrency exchange Gemini announced that they had hired a former NYSE executive. Robert Cornish used to be a chief information officer at the NYSE, and at the end of July he will take over as head of technology at Gemini. Lately, the exchange, which is operated by the Winklevoss twins, has been working hard to establish themselves in the market space and we believe they will be a strong force to reckon with in the future.

Europe’s largest ETF provider is moving into cryptocurrencies. The CEO of the Dutch ETF firm Flow Trade NV, Dennis Dijkstra, stated that they’ve decided to expand their business to include cryptocurrencies due to increasing demand and requests that they receive on a daily basis. Dijkstra also added that people are underestimating the cryptocurrency market and that it will be fully regulated soon.

eToro is getting ready for their new cryptocurrency wallet and exchange. This weekend, eToro’s managing director, Iqbal Gandham, told NewsBTC that they are preparing to launch their brand new cryptocurrency wallet in late July or early August and that their highly anticipated exchange will follow in Q4 2018. The eToro cryptocurrency exchange has the potential to change the market since it will give eToro access to the American market. In fact, Gandham described the American market as a “phenomenal market for crypto assets.” The exchange will be regulated following regulation from Gibraltar.

Vitalik Buterin, the founder of Ethereum, is known to not hold back on matters he thinks are important. In an interview with Techcrunch, Buterin started criticizing centralized exchanges and the way they dominate the market, stating that “I definitely personally hope centralized exchanges burn in hell as much as possible.” Buterin also added that he thinks decentralization is the solution for the future and what will make or break the cryptocurrency market.

Binance is expecting profits of $1 billion in 2018. After an incredible year, Binance, the largest cryptocurrency exchange based on daily trading volumes, is expecting great results. Last week, Binance increased their own projections for 2018 announcing that they are set to make $1 billion in profit over the year based on performances so far. However, if we get to experience anything like last year’s boom, Binance can expect to make even more.

Malta has passed several blockchain bills into actual laws, establishing themselves as the blockchain island of Europe. By passing three new laws regarding blockchain use, Malta takes the lead when it comes to cryptocurrency regulation. Several sources have stated that these new laws are proving Malta’s desire to shape the future and not only focus on the now.

Bitcoin mining giant Bitmain has closed a new round of funding at record value. Almost one year ago, Bitmain closed their funding round Series A of $50 million and early last week they closed Series B. In total, Bitmain received between $300 and $400 million in Series B at a valuation of $12 billion dollars. According to inside sources, Bitmain is also planning an IPO on the Hong Kong Exchange in the next coming year or so.

For more day trading news and investment advice, we recommend that you check out our weekly trading segment called Let’s Talk Business where we cover the latest developments in all major markets. And if you’re looking to start trading cryptocurrencies we suggest you check out our IQ Option review and their new cryptocurrency exchange Hodly, and read the AvaTrade review to learn more about their solid selection of CFDs on digital assets. 24Option and Plus500 also offers cryptocurrency trading. Read our 24Option review and Plus500 review by following the links. 

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