Monday, June 10, 2019

Litecoin Jumps / CCN Shutting Down / Target Integrating Blockchain / Bittrex U.S. Ban

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1. Market Watch: Litecoin is the best performing asset in the top 5 this weekend as its halving approaches. Bitcoin is approaching $8,000 after reaching a low of $7,625 on Sunday. All of the cryptocurrencies in the top 20 by market cap except Bitcoin SV have a positive change over the past 24 hours.

  • Bitcoin: $7,9522.23 (⬆️ 3.206%) // $141.4 billion market cap.
  • Ethereum: $245.54 (⬆️ 4.86%) // $26 billion market cap.
  • XRP: $0.39 (⬆️3.01%) // $16.8 billion market cap.
  • Litecoin: $127.04 (⬆️ 10.90%) // $7.8 billion market cap.
  • Top 100 Winner: Aurora: $0.03 (⬆️ 59.21%) // $240k market cap.
  • Top 100 Loser: KuCoin Shares: $1.08 (⬇️ 4.55%) // $96 million market cap.

Prices are as of 1:15 EST.

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2. Cryptocurrency News Network (CCN) will shut down after its Google search rankings dropped. Google released its Core Update on June 3rd and traffic from Google mobile searches to CCN immediately dropped 71 percent, and site revenue dropped 90 percent. The Google update also hit Coin Telegraph as it saw its mobile traffic via Google drop as much as 21 percent. Mike Dudas, CEO of The Block, was asked via a tweet if The Block had a similar drop and he said, "Yes. This must have applied to all cryptocurrency sites. The good news is that we're young and not reliant on SEO, so our overall traffic was up 70% month-on-month. Also, we have a small, nimble team -- and we monetize via subscriptions in addition to ads." - CRYPTO NEWS NETWORK

Crypto News Network To Shut Down
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3. Target has been quietly working on a blockchain solution to power its supply chain management. The retail giant recently open sourced the project, which it calls ConsenSource. Joel Crabb, the company's vice president of architecture, said, "However, the largest obstacle to implementing a distributed ledger is getting multiple companies to agree on which data are stored in the blockchain and how the system will be operated and governed. To achieve this close interaction among corporate entities, many companies – including Target – see the most potential for enterprise blockchain initiatives as open source." Target originally started the program to track its paper supply chain, but expanded it after seeing positive early results. - COIN DESK

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4. Bittrex blocked U.S. traders from buying and selling 32 cryptocurrencies on its US-based crypto exchange. This comes after Bittrex was denied a BitLicense by the New York Department of Financial Services. In a blog post published on Friday, Bittrex stated, "U.S. Customers may withdraw or continue to hold in their Bittrex wallet affected Tokens/Coins for as long as Bittrex International supports a market in those Tokens/Coins." Traders in the U.S. have until June 21st to access coins that are slated to be removed from the platform. - COIN TELEGRAPH

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5. The amount of money related to cryptocurrency lobbying on Capitol Hill increased by $30.4 million from Q1 2018 to Q1 2019. - COIN TELEGRAPH

6. MoneyGram's global head of product and innovation, Youri Bebic, said its highly probable that cryptocurrency is the future of international money transfers. - DIGITAL ENTERPRISE INSTITUTE

7. NiceHash founder Matjaž Škorjanc was charged with racketeering and conspiracy to commit wire fraud and bank fraud. - DECRYPT

8. The vast majority of decentralized finance applications are built on Ethereum vs other blockchain solutions. - COIN TELEGRAPH

9. The U.S. Real Estate Association invested in blockchain real estate startup Propy. - THE BLOCK CRYPTO

10. Maker Dai adoption has grown at roughly 20 percent per month since February 2019. - MAKER DAO

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Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside), David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology), and Bobby Cherry (senior editor at Inside, who's always on social media).

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