Crypto Recap March 8: 'Crypto Summer' Will Return but Patience Needed

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Market Summary

The tumultuous week in cryptos continues, as the interest towards selling cryptos did not abate on Thursday. Bitcoin, and as a consequence, the rest of Alts, were pushed into fresh multi-week lows. In the short term, a sea of recent FUD has led to depression setting in, as the price action dynamics in cryptos suggest. Bitcoin lost over 5%, closing around $9.4k, with Monero and Cardano hit the hardest. On the flip side, NEM and Ethereum Classic were surprisingly bid, printing gains for the day.

The market value is currently at $380 million, fast approaching the low for the year around $342 million. The Bitcoin dominance is steadily anchored above the 40% mark, reminding us of the current Bitcoin cycle we are in. We've entered a phase known as 'crypto winter', however, don't forget that the sun will rise again and summer will follow.

If you know of individuals who were boasting large profits in the latest bullish run and now they are all gone, that should speak heaps of the quality of participants we had involved in the industry, as we mature into a more professional crypto landscape with sound regulations to protect your interest. Remember, top quality assets are getting quite cheaper and cheaper, which is when accumulations pay off the most.

The warning by the SEC on potentially unlawful online crypto trading platforms, the temporary ban to operate cryptos by two Japanese exchanges, the scare at Binance after a failed hacking attempt, the findings of the Mt.Gox trustee dumping Bitcoins earlier this year, with more liquidation possible if approval is given by a court of law...

Now we also must throw into the mix tentative evidence that based on the sharp drops seen in Google ad performances, Google might be toughening its stance. "While Google already bans misleading and fraudulent ads, it doesn’t want to prevent the entire industry from advertising on its platform. Right now it seems that it might have changed its mind," said Michael Pearl from Finance Magnates.

How will we transition from the cold winter into the much-awaited sunshine of summer? By having patience and being undeterred to all the daily noise one reads. At CoinLive it's our job to narrate and distill that noise in a way that is objective as we aim to bring you the news market participants and the industry talk about. However, by no means, it should affect your outlook in the cryptos you were so supportive on. If the team, technology, value proposition is there, hold tight as summer is coming back.

Cryptos will be a multi-trillion dollar industry. The gap between awareness and adoption will close, the trend in the denationalization of fiat currencies will progress and institutions will come in mass to diversify their portfolios as more legal frameworks are established. Whether or not you are part of it to capitalize on the potential is your own personal decision. The main factor that will determine your survival through winter will be the battle within you for that precious gift called 'patience'. Storms come and go.

* Headlines below are listed in chronological order, as seen in CoinLive News Terminal

Top Headlines Industry / Regulations

• Japan Cracks Down on Crypto Exchanges, Some May Face Indefinite Shutdown - Japan is set to impose tough actions against the crypto exchanges that fail to comply with the FSA's measures.
• Japan FSA Suspends Bit Station And FSHO One Month Effective Immediately - Japan's FSA suspended At Bit station and FSHO for one month effective immediately.
• Domains Running Cryptocurrency Mining Scripts Have Increased by 725% in 4 Months - Cyren Security Labs has performed extensive research into the domains running mining scripts all over the world.
• Lawyer Gives 'Mt.Gox' Warning to HitBTC Users - A warning has been given by a lawyer with regards to HITBTC in a video published on YouTube.
• South Korea: Bithumb Looks to Bring BTC ATMs Into the Market - The exchange hopes to provide the cheapest BTC ATM service with plans of offering services at least 10% cheaper than any competitor.
• ASICboost Patent Owner to Join Blockchain Defensive Patent License "Coalition" - the owner of the ASICboost patent has decided to join the BDPL.
• Vienna Universtity Launches Blockchain Platform - Bitpanda and Vienna University of Technology are collaborating to develop an open-source blockchain platform called “Pantos."
• Swiss Coffee Alliance and Ambrosus Announce Collaboration - The main problem that both of these entities want to solve is "Coffee value-chain inequality."
• Bitmain to Create Private Central Banks on the Blockchain - ASIC-chip designing giants Bitmain have announced their plan to invest in more than 30 startups to create private central banks on the blockchain.
• Huawei to Incorporate Blockchain for Intellectual Property Rights - Huawei is seeking a patent detailing to add a verification feature to a peer-to-peer content distribution network powered by blockchain technology.
• Coincheck to Reimburse Investors - Japanese exchange Coincheck announced that they are planning to reimburse all their affected investors starting next week.
• SWIFT Finishes DLT PoC - SWIFT successfully ran and published results of their DLT PoC testing, which met "governance, security, and data privacy requirements."
• Chinese Authorities Block Crypto Exchanges' Social Media Accounts - According to Caixin, Chinese regulators are now blocking the access to social media accounts of cryptocurrency exchanges.

Top Headlines Crypto-Asset Fundamentals

• Cindicator: Weekly Updates - It is an exciting time for the team as it integrates the new hires to work on their goals from the Q1 Roadmap.
• Coin Cast Features Tor Bair, Head of Marketing at Enigma - Tor Bair, Head of Marketing and Growth at Enigma (ENG) talks about latest developments and growth opportunities at ENG.
• Fujitsu Creates Risk Detection Technology for Smart Contracts on ETH - Fujitsu has introduced a technology that can detect risks associated with Ethereum based Smart Contracts.
• 0xProject: Dev Update for Feb 2018 - Brandon Millman, senior engineer at the 0xProject has given an extensive update for Feb 2018.
• Non-Profit Research Organization to Accept Donations in XMR - Multidisciplinary Association for Psychedelic Studies (MAPS) has announced its decision to accept donations with Monero.
• Viacoin Explains Binance Debacle - Viacoin has explained their side of the Binance debacle with a series of tweets.
• Polymath and Corl Announce Partnership - Polymath and Corl have recently announced a partnership in order to build an effective securities token.
• Bluzelle Publishes February Development Update - Bluzelle has summarized all the news and developments that occurred in the month of February in its monthly newsletter.
• Lisk Highlights Developments of February in Community Update - Mat Piaggi, Community Manager at Lisk and Lightcurve, has published an article highlighting the developments of February.
• Stellar Teams up with Keybase - Stellar has announced that they have partnered up with Keybase, an end-to-end encrypted chat and cloud storage system.
• Ripple's Marjan Delatinne: Future of Payment Will Be PSD2 - In an interview with Cointelegraph, Ripple's global head of banking, Marjan Delatinne, shared her opinion about future of payments.

Key Events on Top Cryptos for Mar 8 (Thur)

• Agoras Tokens (AGRS) - Bittrex Exchange Delisting
• Binance (BNB) - ENJ Airdrop for the Top 100k BNB holders on Binance
• Byteball Bytes (GBYTE) - Blockchain Leadership Summit in Zurich
• Dragonchain (DRGN) - AMA on Reddit
• FeatherCoin (FTC) - Feathercoin 0.13 will signal support for SegWit on block 2,120,000
• Gnosis (GNO) - Moinblockchain Conference in Hamburg
• IOTA (MIOTA) - Moinblockchain Conference in Hamburg, SXSW Conference in Austin
• MaidSafeCoin (Maid) - Bittrex delists MAID
• Monero (XMR) - Charitable cryptocurrency donations with Monero are now accepted by the Multidisciplinary Association for Psychedelic Studies
• NEM (XEM) - Blockchain Leadership Summit in Zurich
• NEO (NEO) - Workshop in Cambridge
• Qtum (QTUM) - Meetup in Seoul
• Ripple (XRP) - SYNC 2018 in Singapore
• Zcash (ZEC) - Moinblockchain Conference in Hamburg

source: www.coinmarketcal.com

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