Market Update 6.27.18 – Facebook Updates Policy to Allow Crypto Ads

| Publish date: 06/27/2018
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Facebook Updates Policy to Allow Crypto Ads

The social media company announced on June 26, that Facebook has updated its policies so that cryptocurrencies can now once again advertise on the social media platform. However, the company still maintained its ban on ads related to Initial Coin Offerings.

The announcement stated that the company had been looking at how it could refine its blanket ban on all things crypto that has been in place for the last few months. This way, the company could allow some cryptocurrency ads while making sure that they were also safe.

Find out more about this story here.

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Interest in Cryptos to Double in the Near Future

According to a survey conducted by the research company Ipsos on behalf of ING Bank, interest in the cryptocurrency world – which had been waning in the last few months – is expected to double in the near future. This study was conducted over 15 countries and about 1,000 people were surveyed in each country.

The survey revealed that while only 9% of the respondents currently owned crypto, 25% said that they were planning to own some in the near future. Turkey showed the highest percentage of cryptocurrency ownership at 18%, while the lowest figure belonged to Luxemburg, where only 4% of the respondents stated they owned cryptocurrencies.

Find out more about the story here.

US Government Seeking to Forfeit 4k BTC

According to an announcement published on Tuesday by the Department of Justice in the District of Maryland, prosecutors accused two men – Ryan Farace and Robert Swain – of collecting drug sales in Bitcoin from November 2013 to June 2017. According to the allegations, these two men manufactured drugs and sold them on the dark web, while taking payments in BTC.

Now, the government authorities have put in a request for the forfeiture of these payments, which amount to about 4,000 BTC. If this request is approved, it would be the latest in the pool of cryptocurrencies confiscated by the US government.

Find out more here.

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Total Market Cap: June 27

Trading volume has dropped since yesterday to $11.10 billion. The cryptocurrency market’s capitalization plunged in the last 24 hours to $245.25 billion.

Bitcoin Price Analysis: June 27

Since yesterday, BTC’s price dropped by 2.22% to trade at $6101.90 per token. The virtual currency’s volume of trade dropped to $3.44 billion and its market value is now $104.42 billion.

Ethereum Price Analysis: June 27

Since yesterday, Ethereum’s price dropped 4.29% to $435.89. Trading volume in the number two altcoin is $1.41 billion and its market capitalization is $43.74 billion.

State of the Top 10 Cryptocurrencies: June 27

All top ten cryptocurrencies saw drops in their prices in the last 24 hours. Tether entered the top ten list today, replacing TRON as the number 9 cryptocurrency in the world. IOTA managed to hold on to its place in the top ten list, but TRON has been booted out to number 11 in the world rankings.

  • Bitcoin slipped down by 2.22% to a price of $6101.90. The digital asset’s capitalization is $104.42 billion.
  • Ethereum slipped down by 4.29% to a price of $435.89. The digital asset’s capitalization is $43.74 billion.
  • Ripple slipped down by 4.33% to a price of $0.460431. The digital asset’s capitalization is $18.07 billion.
  • Bitcoin Cash slipped down by 6.55% to a price of $699.58. The digital asset’s capitalization is $12.03 billion.
  • EOS slipped down by 6.87% to a price of $7.58. The digital asset’s capitalization is $6.79 billion.
  • Litecoin slipped down by 6.08% to a price of $77.15. The digital asset’s capitalization is $4.4 billion.
  • Stellar slipped down by 6.17% to a price of $0.183893. The digital asset’s capitalization is $3.44 billion.
  • Cardano slipped down by 5.99% to a price of $0.125843. The digital asset’s capitalization is $3.26 billion.
  • Tether entered the top 10 list at a price of $0.997312, with a slight 0.12% drop in the last 24 hours. The digital asset’s capitalization is $2.7 billion.
  • IOTA slipped down by 4.01% to a price of $0.959887. The digital asset’s capitalization is $2.66 billion.
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