Crypto Market Overview
#Bitcoin Breaks $10,000 for First Time Since March 2018
Bitcoin (#BTC) has continued its steady rally in price over the past three months to break $10,000 today for the first time in over a year, according to #Coin360.
Bitcoin broke the $10,000 mark today after trading in the $3,000-$4,000 range for the first four months of this year. As of press time, Bitcoin is up 6.53% on the day and trading at $10,153.
Also this week, the bitcoin hash rate — the total computing power of the bitcoin network — hit new all-time highs. Bitcoin breaking a multi-year high, the growth in hash rate can be taken as a measure of how much interest there is in mining the coin.
https://cointelegraph.com/news/bitcoin-breaks-10-000-for-first-time-since-march-2018
#Facebook’s Crypto Project Scheduled for Hearing by US Senate Banking Committee
The United States Senate for banking has declared that they will hear the testimony on Facebook’s most speculated #Libra coin on July 16th. The news surfaced on June 18th on an economic news website.
It was previously reported that Facebook is working on creating a global cryptocurrency called “Libra.” This most awaited project of Facebook is going to face inspection from the Senate of Banking of the US. The committee said that the hearing is intended to explore the project and any potential risks that may arise because of it.
#Google Search For #Litecoin Hits 12 Month High, Two Months To Go For Its Next Block Reward Halving
The number of Google searches for famous cryptocurrency Litecoin has reached a 12 month high this week. This could possibly be because of the token’s next block reward halving that will take place in the next couple of months. Also, the fact that Litecoin prices have jumped over 340% could be the reason for Google search numbers.
#QuadrigaCX CEO Set Up Fake Crypto Exchange Accounts With Customer Funds
QuadrigaCX’s late founder and CEO used customers’ funds to trade for his own account, the Canadian firm’s bankruptcy trustee said.
In a bombshell 70-page report released on Wednesday, Ernst & Young claimed that Gerald #Cotten, who apparently died last December, transferred millions of dollars into crypto and into other exchanges out of customer accounts, to use funds for furnishing Cotten’s personal life and his trading habits. Overall, it appears that Cotten effectively stole more than $200 million USD from his customers.
https://www.coindesk.com/quadrigacx-ceo-set-up-fake-crypto-exchange-accounts-with-customer-funds
#Grayscale’s #Ethereum Security Now is Listed on OTC Markets
Grayscale’s Ethereum-based security, Grayscale Ethereum Trust (ETHE), is available for trading on OTC Markets, according to an official blog post from Grayscale Investments on June 20.
According to the post, ETH is “an open-ended trust that holds Ethereum.” As further noted, this is a means of investing in Ethereum without having to actually hold the cryptocurrency. This means that the “first U.S.-based publicly quoted security solely invested in and deriving value from the price of Ethereum is available.”
https://cointelegraph.com/news/grayscales-ethereum-security-now-listed-on-otc-markets
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