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Top Crypto Headlines

HOT! Bitcoin May Come To Ebay As Platform Drops Paypal As Main Payment Option

Bitcoin May Come To Ebay As Platform Drops Paypal As Main Payment Option HOT! Platform Will Offer Litecoin Cards, Wallets And Payment Terminals

Platform Will Offer Litecoin Cards, Wallets And Payment Terminals HOT! South Korea Finance Minister: Cryptocurrencies Are Necessary For Blockchains To Operate

South Korea Finance Minister: Cryptocurrencies Are Necessary For Blockchains To Operate HOT! Ledger Addresses Man In The Middle Attack That Threatens Millions Of Hardware Wallets

Ledger Addresses Man In The Middle Attack That Threatens Millions Of Hardware Wallets Japanese Authorities Warned Coincheck About Serious Security Flaws Before Thieves Stole $530 Million

Factom Participates In Medici Ventures Blockchain Summit

China’s Cheetah Mobile Launches Wallet For Bitcoin And Ethereum

Large European Power Company Will Not Sell Electricity To Crypto-miners

South Korea And China Finally Meet Up To Discuss Cryptocurrency

Qtum Launches ‘first Ever’ Blockchain Node Into Space

Ark Releases Script Update Of Their All-in-one Blockchain Platform

V1.0.0 Iota C++ Library Has Been Released

Bitmain 2017 Revenue Report Says The Company Generated $2.3 Billion Revenue

Market Summary

The crypto market remains in sell-off mode, with the red color still dominant across the board. While traders were surely encouraged to see their portfolios recover during a constructive Saturday, the mirage quickly faded, and the reality of short-term bearish conditions sank in again on Sunday, with the tumbling of prices amplified by the typically low liquidity conditions over the weekend. Upbit, Binance, Bitfinex, and OKEX saw the most activity.

From a fundamental standpoint, this selling wave emulates the moves from last Friday, in that not one catalyst can be singled out as the trigger point behind the current liquidation of crypto assets. The bear phase cryptos are experiencing is a combination of a number of risks defined in our last market re-cap (Bitfinex/Tether fluid situation, the anticipation of tougher regulations, Facebook’s ban on cryptos, Indian FUD, unknown factors…).

The main suspicion -no conspiracy theory, only a fact -, if one judges by the bearish price action, is that just as we learned of the strong correlation between the new issuance of USD Tether and the bull runs in Bitcoin, the Bitfinex-owned token has not been printing new USDT since Jan 23. Coincidence or not, this is a factor to take into account in the current sell-off as sectors of the market have speculated on the artificial intervention of Bitfinex to pump the price of Bitcoin. We will not venture into wild guesses, one can make their own conclusions. Correlations, this one certainly is, should serve the purpose of strengthening or discrediting one’s analysis.

Among the main losers, reputable projects such as Ethereum, Dash or Lisk saw another day of 2-digit losses, with Status (huge volume through Upbit) or Revain being some of the very few exceptions. Bitcoin has come into close contact with $8,000 again, a strong level of support, given the role it played as a resistance back in early November. It’s also worth noting that from the highs of Dec, Bitcoin is on a 3rd leg lower on the daily, with each extension having been weaker than the previous.

Looking at the most relevant industry-broad news, over the weekend, it came to traders’ attention a potential vulnerability affecting Ledger addresses that threaten millions of hardware wallets. Meanwhile, out of South Korea, its Finance Minister showed an optimistic stance, saying that cryptocurrencies are necessary for blockchains to operate. In news with potentially far-reaching effects for the industry, the Merkle reported that eBay is in the process of dropping paypal as the main payment option, and consideration might be given to integrating other crypto-enabled payment options in coming months; at this point, it’s only speculation. We also learned that the mining giant Bitmain, during 2017, generated a whopping $2.3 billion in revenue.

On crypto-specific projects, not a whole lot to report. The following were the most relevant weekend headlines to keep in mind: A new platform (Litepay) will soon offer Litecoin cards, wallet, and payment terminals. QTUM launched the ‘first ever’ blockchain node into space. ARK released script update of their all-in-one blockchain platform. IOTA released its v1.0.0 c++ library.

Main Gainers / Losers Top 100 Coins

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