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Crypto Market cap reached $720 Billion

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Cryptocurrencies

Crypto market started 2018 with a Bang, with total market cap reached all-time high of $720 billion.

BTC dominance is at lowest level of 35%

Crypto currencies had a fantastic year in 2017, but if you are thinking that market has seen its peak then you are wrong, you need to think again, 2018 started with a Bang with major crypto currencies reaching their all-time highs, currencies like Stellar, Cardano, Ripple are smashing all the records beating major currencies like Bitcoin and Bitcoin cash in terms of growth.

According to Coinmarketcap.com, Crypto market cap currently stands at around $720 billion, making it more valuable than most of the companies at S&P 500,, an Index that tracks performance of top US companies. Ripple crossed the level of $3 today, making it secodn most valuable crypto currency in the world, beating Ethereum.

 

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Facebook’s crypto ban is actually not a ban

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Facebook’s product management director Rob Leathern recently published a post about prohibited financial products and services on Facebook and included some parts of crypto market as well, for example they prohibited cryptocurrency ads like ” No-risk cryptocurrency” “Bonus on ICO’s and tokens”

The news spread into the crypto market like a wild fire and everyone started taking it in negative sense. Common perception about this announcement in market was that FB has banned all the crypto ads and ICO’s, which is wrong because there is difference between misleading ads and proper marketing campaigns, Facebook is not banning all marketing campaigns related to crypto market, they are only banning misleading content.

Rob Leathern, Facebook’s Product Management Director said 

Two of our core advertising principles outline our belief that ads should be safe, and that we build for people first. Misleading or deceptive ads have no place on FB.

We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency.

 

Facebook announcement

Facebook’s official announcement

“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith”

This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including FB, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.

This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook.

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