DEHEDGE CRYPTO MARKET UPDATE

The Crypto market has been ranging compare to previous weeks, with a sensitive uptrend in favor of the Bitcoin while the Ethereum is suffering a downtrend. Markets were looking at the Finance G20 Summit announcements. The main points to extract from these talks are that cryptocurrencies are not recognized as currencies but as assets. Plus, there will be no ban on cryptos but there is a common will to regulate and tax. Indeed, the OECD pushed that logic further stating they want a common policy towards cryptoccurencies, but many observers are questioning the feasibility of such cooperation.

The ICO market has been freezing last week and it seems that the concept of “utility token” is being pointed out by the SEC. It’s a tough time for ICOs entrepreneurs, especially in the US. In the meantime, other places, particularly in Europe are seeing this as an opportunity and are developing ICO-friendly regulations that will be unveiled soon. As a result, many ICOs are postponing their Pre-Sale and Public sale, waiting for regulators to unblock the market and for the Ethereum price to get up so investors will come back in the game.

Other important headlines of the week:

➢ Binance moves in Malta after Japan warnings

➢ Finance G20 summit talks are seen as positives for cryptos development.

➢ Big names spread FOMO in the crypto market (Twitter CEO, Edward Snowden).

➢ FUD spread following the NSA spying on bitcoin holders.

➢ Many companies are slowly unveiling their crypto agenda and investments (Yahoo, JP Morgan…)

3 altcoins that impacted the market last week:

STORM: +147%

-ICON: +58%

-EOS: +33%

The ICO market has been freezing last week and it seems that the concept of “utility token” is being pointed out by the SEC. It’s a tough time for ICOs entrepreneurs, especially in the US. In the meantime, other places, particularly in Europe are seeing this as an opportunity and are developing ICO-friendly regulations that will be unveiled soon. As a result, many ICOs are postponing their Pre-Sale and Public sale, waiting for regulators to unblock the market and for the Ethereum price to get up so investors will come back in the game.

Other important headlines of the week:

➢ Binance moves in Malta after Japan warnings.

➢ Finance G20 summit talks are seen as positives for cryptos development.

➢ Big names spread FOMO in the crypto market (Twitter CEO, Edward Snowden).

➢ FUD spread following the NSA spying on bitcoin holders.

➢ Many companies are slowly unveiling their crypto agenda and investments (Yahoo, JP Morgan…)

3 altcoins that impacted the market last week:

-STORM: +147%

-ICON: +58%

-EOS: +33%

ICOs and Pre-Sale beginning this week: