Market Update 3.15.18 – Google Banning ICO and Crypto Ads

Market News

Google Banning ICO and Crypto Ads

In breaking news, Google announced that it was going to change its financial products policies from June of this year. The changes will mean a ban for all crypto related ads.

Google published a blog on Tuesday, announcing that ad content related to cryptocurrencies would be blacklisted. This would include advertisements about ICOs, crypto exchanges and wallets as well as cryptocurrency trading advice.

This restriction will apply to all Google’s platforms, whether proprietary or affiliated.

To read the full story, click here.

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Bitcoin Prices Hurt by Mt. Gox Trustee

Last week, a report submitted to the Tokyo District Court revealed that Nobuaki Kobayashi – a Mt. Gox bankruptcy trustee – may have inadvertently contributed to the massive downward spiral that Bitcoin has been experiencing.

Kobayashi has offloaded more than $300 million worth of Bitcoin into the market through 2 crypto exchanges in the last three months. According to some critics, the trustee put too much Bitcoin back into circulation which led to these massive drops in the crypto’s price.

Bitcoin has declined 51.6% in the last 3 months since its all-time high in December of almost $20,000. And people are blaming Kobayashi for this freefall.

Read the rest of the story here.

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Brazilian State Officials Caught in Crypto Scam

The police in Rio de Janeiro uncovered a money laundering scheme where state officials were found to be siphoning off money meant for prison supplies. The money was then being laundered through Bitcoin transactions.

These officials managed to scam about $22.4 million since 2001 before they were caught. Superintendent of the Internal Revenue Service in Rio, Luiz Henrique Casemiro stated this specific operation drew attention because of the remittances made through buying Bitcoin.

Seven people have been detained in relation to this scam so far and several other warrants have also been issued.

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Total Market Cap: Mar 15

Trading volume in the cryptocurrency market has gone up in the last 24 hours to $16.50 billion. Market capitalization, however, continues to fall, dropping down to $314.10 billion in the last one day.

Bitcoin Price Analysis: Mar 15

Bitcoin seems to be spiraling downwards with its taken price dropping sharply by 14% to trade at $7,908.60. Trading volume has increased to $6.79 billion and the crypto’s value in the market is currently $133.44 billion.

Ethereum Price Analysis: Mar 15

Ethereum has fared no better, with its price plunging by 15.01% in the last one day to currently at $588.57. The world’s number two cryptocurrency has a trade volume of $1.97 billion. The altcoin’s market cap also dropped further to $57.78 billion.

State of the Top 10 Cryptocurrencies: Mar 15

Give below is the list of the top ten cryptocurrencies in the world and their performance in terms of pricing and market cap in the last 24 hours.

• The price of Bitcoin is currently at $7,908.60, nosediving by 14%. The current market value of the digital currency is $133.44 billion.
• The price of Ethereum is currently at $588.57, nosediving by 2.60%. The current market value of the digital currency is $57.78 billion.
• The price of Ripple is currently at $0.65, nosediving by 17.72%. The current market value of the digital currency is $25.58 billion.
• The price of Bitcoin Cash is currently at $888.58, nosediving by 14.87%. The current market value of the digital currency is $15.12 billion.
• The price of Litecoin is currently at $154.92, nosediving by 11.45%. The current market value of the digital currency is $8.61 billion.
• The price of Cardano is currently at $0.176546, nosediving by 21.77%. The current market value of the digital currency is $4.57 billion.
• The price of NEO is currently at $66.41, nosediving by 20.54%. The current market value of the digital currency is $4.31 billion.
• The price of Stellar is currently at $0.221622, nosediving by 23.61%. The current market value of the digital currency is $4.09 billion.
• The price of EOS is currently at $4.96, nosediving by 15.64%. The current market value of the digital currency is $3.61 billion.
• The price of Monero is currently at $206.72, nosediving by 16.80%. The current market value of the digital currency is $3.28 billion.