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Cryptocurrencies Starting the Week off Negative with JP Morgan's CEO Jamie Dimon Highlighting the Potential of Blockchain in Interview with Harvard Review

Aug 06, 2018

Moves by 24 Hours Price Change %

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Ethereum Classic ETC USD$17.41 0.08% 4.96% 2.31% USD$1,802,879,670.0 USD$242,267,207.57
Monero XMR USD$115.84 -0.54% 0.79% -12.18% USD$1,884,331,614.0 USD$19,247,384.61
Cardano ADA USD$0.13 -0.03% 0.74% -17.02% USD$3,376,984,257.0 USD$54,402,606.06
Qtum QTUM USD$6.42 0.15% 0.63% -15.1% USD$569,664,850.0 USD$156,745,501.45
Ethereum ETH USD$408.1 -0.2% 0.08% -11.14% USD$41,282,396,730.0 USD$1,404,682,702.99

Movers by 24 Hour Volume

Name Ticker Price 1H% CHG 24H%CHG 7D%CHG MARKET CAP 24H VOLUME
Bitcoin BTC USD$6993.51 -0.06% -0.66% -13.91% USD$120,243,245,364.0 USD$3,776,256,095.34
Ethereum ETH USD$408.1 -0.2% 0.08% -11.14% USD$41,282,396,730.0 USD$1,404,682,702.99
EOS EOS USD$6.99 -0.08% -0.31% -12.98% USD$6,335,518,248.0 USD$470,952,350.21
Bitcoin Cash BCH USD$692.89 -0.59% -0.62% -14.74% USD$11,971,669,141.0 USD$311,628,154.13
Litecoin LTC USD$73.95 -0.22% -0.07% -10.75% USD$4,269,238,760.0 USD$262,074,441.61
  • Yeoman Capital founder and well-known cryptocurrency evangelist David Johnson argues the strategy of massively distributing new crypto tokens to users that already own cryptocurrencies should be replaced by a smarter, targeted approach that he calls “smartdrops”.  The idea behind the “smartdrops” framework, which is already beginning to gain momentum, would help blockchain startups market to users who are interested in being stakeholders.  Johnson clarifies that he is not arguing for replacing ICOs but suggests the “smartdrops” approach will help blockchain startups build sustainable communities and create real software projects before reaching the Initial Coin Offering stage.
  • Co-Founder of, Fred Schebesta, is looking to open a crypto bank in Australia.  In an interview with, Schebesta argues that the growing interest in cryptocurrencies means at some point users will need a formal institution that can service their cryptocurrency needs.  He believes he can open a bank dedicated to cryptocurrencies in 18-months but will need an authorized deposit -taking institution (ADI).  Schebesta, believes the crypto bank idea is a multi-billion dollar idea and is trying partner with Goldfields Money, the only bank in Western Australia with a ADI license.
  • UK digital coin miner Argo Blockchain has raised USD$32.5mm in an IPO on the London Stock Exchange.  Argo Blockchain’s market capitalization is estimated to be ~USD$61.1mm.  According to its mission statement, Argo Blockchain is seeking to democratize access to the crypto mining market and increasing the participation of “ordinary investors” in what the company is calling the “fifth industrial revolution”.
  • Starbucks clarifies reports that it will not accept cryptocurrencies as payments following reports Friday afternoon that it would.  The company is part of a global initiative called “Bakkt”, organized by the New York Stock Exchange and Intercontinental Exchange, to create a “new global platform and ecosystem for digital assets “.
  • JP Morgan Chase CEO Jamie Dimon continues to be positive about the impact of blockchain technology and how it can help JP Morgan in an interview with the Harvard Business Review.  Dimon avoided talking about cryptocurrencies and highlights that fiat payment apps are the “biggest potential disruption” to JP Morgan’s business.
  • China Fundan University, according to a patent application from this past January, suggests it has developed a decentralized exchange for unused power.  The blockchain network will use nodes to broadcast requests for sales or purchases using smart contracts to match requests.  Smart contracts will be matched be based on volume and price with a digital currency facilitating transactions between buyers and sellers.  The initiative to create a decentralized exchange for unused powers is in response to the growing supply of renewable energy in China, especially solar power generated by households, which is often generated in excess of demand in some regions.
  • Caitlin Long, former head of JP Morgan’s Pension business and 22-year Wall Street veteran, is critical of Wall Street’s efforts to financialize cryptocurrencies.  She is critical of Wall Street’s strategy of creating “value out of nothing” using leverage to artificially boost valuations.
  • Bitcoin’s network hashrate reached an all-time high, 52 quintillion, this week.  Blockchain data estimates that Bitcoin’s hashrate has grown 60% over the past 3-months.
  • The SEC announces it is investigating cryptocurrency exchanges to determine how they deal with trading fees and the level of financial advice they offer.