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It's mainly green across the board today as most coins show moderate gains in the last 24 hours. The only exception in the top ten being #Litecoin (#LTC) after the weeks rally. Its is now, trading at $135.

Many expect there to be further gains ahead, as we continue to approach the halving in just over 53 days. See article below warning of a steep drop before the #halving.

In News today:

From NEWSBTC: Litecoin Price Nears 600% Returns, But Beware of the Potential 73% Pre-Halving Plummet

Throughout most of 2019, Litecoin – the cryptocurrency forked from Bitcoin’s codebase by former Google programmer Charlie Lee – has led the entire crypto space out of the depths of the longest bear market on record. Much of the bullish sentiment surrounding Litecoin price is being driven by pre-halving speculation. Profit-hungry crypto investors have been buying up Litecoin ahead of a potential price increase.

But with Litecoin’s halving less than 60 days away, and with the asset nearing 600% returns for investors who boldly took a risk and bought the bottom back in December in anticipation of the pre-halving pump, the rally may soon be running out of steam. One crypto analyst believes that Litecoin price still has room to climb, but has issued an ominous warning that a potential 73% drop could be ahead in the coming days. Full article link via image above

From Hard Fork: 9 days until the crypto industry must verify the identity of anyone sending $1,000 or more

They state: In just nine days, new rules by the Financial Action Task Force on Money Laundering (FATF) will force cryptocurrency businesses in roughly 200 countries to verify the identities of anyone sending or receiving more than $1,000 worth of digital assets, effectively nullifying their pseudonymity. Full article link via image above

Cryptopolitan also reports:

FATF is by far the biggest hurdle cryptocurrency has to overcome

They report: The regulation of decentralized currency is an essential issue that the world leaders are facing right now. Due to the lack of regulations in this crypto-market, governments are now seeking ways to bring the required regulations in this segment. Financial Action Task Force (FATF) aims to curb all the issues related to money laundering and terror financing units. Now, FATF is striving to bring some innovations on the issue of virtual assets; cryptocurrencies, stablecoin, and centralized digital currencies. FATF has 30 member countries, and the decisions taken at the top immediately effect major cryptocurrency market areas.

The countries who do not fully comply with the FATF terms and conditions can be labeled as Blacklist countries. All said and done; regulations bring various advantages but, there are also certain cons that the people have to face. Full article link via image above.

FROM CCN Jack Dorsey’s Square Crypto Is for Real, Revealing First New Hire

By CCN Markets: Square Crypto, which until now only appeared to exist on social media, is the real deal. It’s been less than a month since Square Crypto announced they were nearing their maiden hire. Now the company made a splash by announcing on Twitter they lassoed Google alum and Silicon Valley angel investor Steve Lee for that distinction. Full article link via image above.

More news tomorrow, keep your crypto sharp people its a fast moving space ;)

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At the time of writing (6.30am BST) the #crypto market overall cap sits at just under $256B.

There is a mixed bag of small gains and losses across the top ten coins with majority trading sideways. #Bitcoin (#BTC) is hovering at just under $8000. #Ethereum (#ETH) is just over $248 after a 1% gain.

The big winner in the last 24 hours continues to be #Litecoin (#LTC) which has added nearly 9% in the last 24 hours to over $138.

Since the beginning of 2019 Litecoin has rallied 355%, reports Forbes today. Etoro's Mati Greenspan recently stated that: "Litecoin has been a leader throughout this recent bullrun." 

litecoin ltc
Litecoin up over 355% since start of 29019. Image by videoblocks.

As we approach the halving around August 8th, when the block reward will be reduced by 50% from 25 LTC to 12.5 LTC, many feel like Litecoin will be heading higher, with some quoting prices much higher than the 2017 all time high of over $375, some even claiming a potential to see 2019 out with Litecoin at $1000.

Traditionally previous Litecoin (and other coin) halvings have led to higher prices due to the greater scarcity of coins to be mined. Charles Hayter, cofounder and CEO of digital currency data platform CryptoCompare, described the upcoming halving as a "price catalyst."

“Never underestimate the power of a block halving. It is the most fundamentally sound event in Crypto history." 2012/2016 for BTC, and 2015/2019 for LTC,”
Sasha Fleyshman, Trader, Arca

#Cardano has seen nearly 5% gain in the last 24 hours and is trading at $.89 All eyes are on the much delayed but announced deployment of the Shelley protocol. A lot of people are saying the success of Cardano (#ada) depends on the success of this deployment. A new road map was recently announced. Will it be able to crack the $.10 resistance it has been struggling to break through?

The Cardano Foundation on Monday announced the appointment of Bakyt Azimkanov as the director of global PR, communications, and marketing as it plans to widen its reach on a global scale, reports Finance Magnates

Back tomorrow. Subscribe for a daily dose of all you need to know about the crypto market!

Disclaimer. The author owns some cryptocurrencies , including some of those discussed in this article.

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  • Ashley Pugh

ccn crypto google

Leading #Crypto news site #CCN is closing down after the latest #Google core update and states: 'Google’s June 2019 Core Update rolled out on June 3rd 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight.'

Their revenue reportedly dropped 90% after the update. The question is whether this ia a crackdown by Google on Crypto generally or a wider issue.

It seems although all major crypto focused sites have been hit by Google’s June 2019 Core Update (For example Coin Telegraph's mobile traffic has also dropped 21% since the update ) , other sites that are not cryptocurrency related have also experienced a startlingly similar impact.

CCN issued this statement:

'While we do understand that Google needs to update their search algorithm from time to time, we cannot comprehend why they are allowed to enforce such drastic changes that have such dramatic consequences for so many news sites over the course of a very limited time – 24 hours, without any explanation or warnings to media organizations like ours. While they did announce the update, they did not disclose any information of what the core update would do.

I am personally calling media organizations across the world to fight this hideous practice by Google, that basically can, with a snap of its fingers, decide who will thrive and who will die within a matter of minutes. Google controls the world’s news consumption. They claim to be pro-journalism. They have a News Initiative that states:

Google claims to build a stronger future for journalism, one where journalists, editors, and news organizations can supposedly thrive with Google’s frequent and opaque core search updates.

While in fact, they are creating an environment where journalists, editors, and news organizations don’t know if they will be around after the next Google Core Update.'

We at New Kids On The Blockchain see this as a great shame and wish the team the very best in their future endeavours after bringing us many years of quality #cryptonews.

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