5 Important Cryptocurrency Highlights This Week
Facebook reverses ban from advertising cryptocurrencies
This week, Facebook have amended their ban on the digital assets; the ban on ICOs and binary options are still not allowed, however all other cryptocurrency ads will be allowed. Earlier on this year, there was a blanket ban on anything to do with the cryptocurrency industry.
Even if you are not an advertiser and do not directly benefit from this news, it is good news for everyone in the cryptosphere. The underlying message we can grasp from this piece of news is that cryptocurrencies are being accepted into the mainstream, no longer bundled together and regarded as a ‘Ponzi’, which the mainstream has been trying to convey to the general public since the conception of Bitcoin back in 2008.
With companies like IBM, Intel, Disney & Alibaba expressing their interest in the blockchain space either through their words or actions, these are strong indicators that cryptocurrencies and digital assets will be an integral part of our future, especially as we develop scalability solutions to cater for the majority of the population and TPS (Transactions Per Second) which will allow transaction times to be on par with that of Visa, or faster, making small payments (such as coffee or food) a viable option moving forward.
Enigma partners with Intel
This week, Enigma, a scalability and privacy solution which, it could be argued, has one of the most solid and prestigious teams in the blockchain space, has announced a partnership with Intel.
Both companies have a mutual cause; solving the privacy, scalability and security issues with tech. As Intel intend to move into the blockchain space, the partnership should prove to be a massive mutual benefit for both parties as Enigma was conceived in the MIT labs, an organisation renowned for their technical prowess.
With their Mainnet launch approaching in the second half of 2018, this alliance should help them to minimise any teething problems which may arise, as expected when establishing a new blockchain in the crypto asset space.
SelfKey listed on Binance
SelfKey is a blockchain based digital identification system that allows users to control their own data; one of the biggest and profitable industries in the world, that not us, but the companies that sell our data profit from.
It will allow for instant access to citizenship, investment, financial services, token sales, coin exchanges and more due to the integrated financial services marketplace that is part of the SelfKey ecosystem.
This week, SelfKey have listed on Binance:
Fellow Binancians, Binance will open trading for KEY/BTC and KEY/ETH trading pairs at 2018/06/27 6:00 AM (UTC). Users can now start depositing KEY in preparation for trading.
Even with a 10 percent growth in the past 24 hours, they can be seen as still largely undervalued with a market capitalization of only 10 million.
Silicon Valley’s Andreessen Horowitz has launched a $300 million cryptocurrency fund
Meanwhile, whilst the market has been on a downtrend, Silicon Valley’s Andreessen Horowitz, a VC fund veteran has started an “all weather” crypto fund.
“We plan to invest consistently over time, regardless of market conditions. If there is another “crypto winter,” we’ll keep investing aggressively.”
The timing of the fund has come when most altcoins, and their predecessor Bitcoin, have suffered from a humbling correction from their all time highs in December 2017 / January this year.
Having a scope with width and range is why investors such a Andreessen have accumulated a large wealth in the first place; investing for the medium & long term holds, into projects with true intrinsic value. Proper due-diligence before investing can allow for emotional immunity from current market sentiment; analysing the attitude of the market is important, but the future of an asset is not determined by the current market value. Catching an investment when its potential value is disproportionately lower than its current price is how successful investors make their money.
Why have 27 EOS acounts been frozen? SVK Crypto find out why (Podcast)
Charles from SVK Crypto interviews an EOS block producer, to find out why 27 EOS accounts have been frozen and the current situation with EOS.
As we can see from the chart below, EOS has had a volatile 2018, reaching its ATH (All Time High) on the 29th April 2018 with a price of over $21. China has rated EOS as the best cryptocurrency.