Market shrugs

The overall crypto bull market continues — the combined market cap has increased 25% from $400M to $500M in the last 7 days. Ethereum founder Vitalik Buterin is reflective and admonishes our enthusiasm. The Market shrugged.

vitalik tweet

Charlie Lee Spree

Charlie Lee, creator of Litecoin, goes on a media spree, which may or may not have caused a massive spike in LTC from $100 to $340 at its peak. We all know LTC is like a mini-Bitcoin, but did you know it also has SegWit and successful Lightning transfers? Coinbase buyers probably don’t care.

Bitcoin DGAF

CBOE Bitcoin futures (XBT) began trading and immediately crashed the CBOE site, as well as Coinbase’s exchange GDAX. Bitcoin had a small pop but overall futures volume has been low. Look out for CME Bitcoin futures this week on the 18th, which are heavier in contract size but, if CBOE is any indication, shouldn’t dramatically affect the overall Bitcoin market.

cboe tweet

SEC Munchees

SEC chairman publishes a note on crypto and ICOs, reiterating caution for investors but acknowledging that they are “effective ways for entrepreneurs and others to raise funding, including for innovative projects.” His team subsequently cracks down on the $15M Munchee ICO who had to refund all proceeds back to investors. It’s okay though, no one wanted another food review app anyway!

See you guys next week!

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