COINFEED HEADLINES OF THE DAY
Bitcoin falls by 10% down to $5650. Ouch. Get better Bitcoin.
Movers and Shakers
Anytime Bitcoin drops precipitously, it would be prudent to take note of the alts that are up. Insight Chain is up by 4% despite this doom and gloom. High demand for USD stable coins are pushing prices above market value.
The biggest losers are IOST and Ravencoin both losing 20% against the dollar.
Network value sits at $185 billion dollars with $24 billion dollars of daily volume; double the trading volume from previous weeks.
Headlines of the day.
BTCC shuts down its popular mining pool without reason. Though it’s likely motivated by shrinking profits. Servers will be shut off as of today and the entire entity will cease to exist at the end of the month.
Michigan Bars Crypto
Michigan Secretary of State bars crypto asset donations to political campaigns. The reasoning is cryptoasset volatility makes it too difficult to value. Coinfeed’s official response: Try harder.
Major institutions continue to invest in crypto-related startups. Bain Capital made a $2.25 million dollar capital injection into Lolli, a BTC rewards browser plugin. Kucoin closes a $20 million dollar seed round with investments from IDG Capital, Matrix Partners, and Neo Global.
Iran joins Venezuela in developing its own cryptocurrency in order to skirt sanctions. Instead of developing their own, it would be interesting if they adopt Bitcoin as Iran’s reserve currency.
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We'll use this show to discuss cryptocurrencies (or as we prefer to call them: cryptoassets) such as Bitcoin. We'll also cover some alt coins from time to time. We likely won't mention any assets that have low liquidity since those assets are more prone to manipulation. Coins in our system include: Ethereum ETH, NEO, GAS, Litecoin LTC, Ripple XRP, Dogecoin, Pied Piper Coin PPI, Tether USDT, Stellar XLM, Nem XEM, Binance BNB, Kucoin KCS, ZCash ZEC, Monero XMR, Cardano ADA, Nano
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