Cryptocurrencies Market Overview - January 08, 2018

Welcome to my Cryptocurrencies Market Overview for Monday, January 08, 2018.

Lots of crypto news today:

• Most coins are looking weak today. Time to buy?
• Chat app Telegram plans to launch its own blockchain platform and native cryptocurrency.
• Binance, Bitfinex and Bittrex temporarily stopped accepting new users.
• Coinmarketcap excludes South Korean prices on its website.
• Microsoft no longer accepts Bitcoin :(
• And more crypto news below...

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I have just signed this petition for Coinbase to prioritize SegWit implementation. Almost 5,000 signatures so far. SegWit reduces the transaction fees on the Bitcoin network so it I think it is obvious we really need SegWit integration on more Bitcoin exchanges. Please help and sign the petition on change.org.

24 Hour Change

Realtime chart on my website CoinMarkets.today

7 Day Change

Month-to-Date Change

24 Hour Volume

Market Capitalization

Bitcoin daily chart (log scale)

Feel free to use and share my charts, but please mention me as the author.

Latest Crypto News - January 08, 2018

Bitcoin Faces Bearish Move as Prices Drop Towards $15K

Bitcoin is looking weak today after prices failed to hold above $17,000 levels at the weekend.
_{Read more: coindesk.com}

Telegram plans multi-billion dollar ICO for chat cryptocurrency

Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond. According to multiple sources which have spoken to TechCrunch, the “Telegram Open Network” (TON) will be a new, ‘third generation’ blockchain with superior capabilities, after Bitcoin and, later, Ethereum paved the way.
_{Read more: techcrunch.com}

Other sources:

• Telegram $500 Mln Pre-ICO Aims To Be Largest Ever (Cointelegraph)
• Telegram Plans Billion Dollar ICO to Build Massive New Blockchain Platform (Bitsonline)

Korea, China and Japan are Swapping Ideas for Cryptocurrency Regulation

South Korea’s primary financial regulator is in discussions with counterparts in China and Japan toward the regulation of cryptocurrencies like bitcoin.
_{Read more: ccn.com}

Microsoft No Longer Accepts Bitcoin, Customer Support Confirms

On the r/Bitcoin subreddit, it’s all about Microsoft and Bitcoin, as the tech giant seemingly stopped accepting the flagship cryptocurrency, according to various top threads. One points to Microsoft following Steam’s footsteps in no longer accepting Bitcoin. The rumor stems from a Bleeping Computer article that claims the software and hardware giant did halt Bitcoin payments.
_{Read more: ccn.com}

Binance, Bitfinex, Bittrex Temporarily Say No to New Users

With the surging price of cryptocurrencies, demand has reached the point where cryptocurrency exchanges are completely swamped. This massive influx of users has led to major infrastructure concerns leading to the temporary closure of their registration portals.
_{Read more: cointelegraph.com}

Other sources:

• Binance Last Calls: Exchange Closes Registrations, Issues Invite Links

South Korea inspects six banks over virtual currency services to clients

South Korean financial authorities on Monday said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.
_{Read more: reuters.com}

Bitcoin isn't the bubble — the global financial system is

Pretty much every article you read about bitcoin in the mainstream press ends up in the same place. You may not hear it until the seventh or eighth paragraph, but eventually you’ll be told that the whole thing is nothing more than a modern day "tulip bubble."
_{Read more: thehill.com}

Coinmarketcap Excludes South Korean Prices, Total Market Cap Drops by $50bn

Most cryptocurrency enthusiasts are well aware of how the prices on Coinmarketcap look skewed. This is mainly because they continue to factor in the Korean prices for the global average. Although that is only normal, it also makes the markets look a lot healthier than they really are. As a result, the platform is now no longer including the Korean prices for all currencies. The trading volume still counts though, which is only normal.
_{Read more: themerkle.com}

Google dev found an Electrum wallet bug that let sites steal your Bitcoin

Cryptocurrency enthusiasts relying on the popular Electrum wallet to store their Bitcoin ought to hurry up and update to the latest version of the app: Google researcher Tavis Ormandy discovered a critical flaw in the wallet that allowed any website to steal your coins.
_{Read more: thenextweb.com}

Other sources:

• Electrum Moves to Patch Bug That Left Thousands of Bitcoin Wallets Exposed

Ethereum Price Rises Above $1,140 as Market Cap Surpasses XRP Again

The past 24 hours have been rather eventful for all cryptocurrencies. With Coinmarketcap no longer taken the Korean prices into account, all currencies are slowly losing momentum. In the case of the Ethereum price, things are still going according to plan. Thanks to some solid gains in both USD and BTC value, Ethereum now reclaims the second spot of cryptocurrencies ranked by market cap.
_{Read more: themerkle.com}

Other sources:

• Ethereum reclaims its number two spot, behind Bitcoin

China wants an 'orderly exit' from bitcoin mining

Bitcoin mining could be on its last legs in China. The country’s top internet-finance regulator, the Leading Group of Internet Financial Risks Remediation, issued a notice asking local governments to “guide” bitcoin-mining operations to make an “orderly exit” from the business, according to a leaked document online.
_{Read more: qz.com}

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