For the first time since the bearish market started in November, we are happy to report in this crypto market weekly update that price consolidation is finally taking place.
Bitcoin price at the start of this new week ($3550) is even slightly above last week’s numbers ($3542), leading to premature talks of a bullish reversal being around the corner.
Which Big News Did You Miss?
Survey: Number of Crypto Users Continue To Grow Despite Significant Market Downturn.
Crypto enthusiasts had a reason to cheer on after a survey revealed that more people are joining the industry despite the fall in prices. Read the full story here.
Brazilian Bank Becomes First To Adopt Blockchain Loan In Latin America
Itaú Unibanco, a publicly quoted bank with headquarters in São Paulo, Brazil set a blockchain record after receiving a $100m loan from Standard Chartered and Wells Fargo through an R3 Corda platform. Read the full story here.
Pantera Capital Likely To Return Money To ICO Fund Investors
The recent regulatory clampdown of ICO tokens has led Pantera Capital into telling those putting money in their ICO hedge fund that they will refund at least 25% of the basket. Read the full story here.
Could It Be Mt Gox Was Never Really Hacked? CEO Mark Karpeles Might Face 10 Years Jail Sentence
The saga involving the hacked exchange has dragged on with a new lead suggesting that the CEO Mark Karpeles was involved in the ugly incident and should face a long jail term. Read the full story here.
Tezos Co-founder Kathleen Breitman Says Only Small Minds Check Crypto Prices
Focusing on current market prices and forgetting the massive potentials of blockchain and cryptocurrencies is a trait exhibited by “small minds,” according to the Tezos CEO. Read the full story here.
Current Market Performance Of Top 5 Cryptos
Bitcoin (BTC) is recording a 2% gain on the week on weekly charts but has increased by 7% in the last 24 hours. Press time price for the major cryptocurrency was $3542.
Ripple (XRP) is up by 15% with a price of $0.33 and a market cap of $13.6 billion.
Ethereum (ETH) spent the most of last week below the $90 resistance but counted on the short bull entrance to climb up to its value of $94.4 at press time.
EOS is the most significant gainer in the last 24 hours among the top 5 coins. The altcoin has usurped Stellar in fourth place with over 25% gains recorded. Press time price was $2.46
Stellar (XLM) has added by 13% on the daily trading chart with a market cap that is 100 million shy of EOS’s. XLM was trading for 0.00003101 against BTC at press time.
What’s Trending In The Community
French crypto tax plan just got rejected. French will need to pay 60% if cashout more than 30k$. INSANE – r/cryptocurrency
Keep calm and accumulate coins – r/Bitcoin
Real scenario. We have to change this soon – r/Bitcoin
Top 3 Gainers
Top 3 Losers
What To Expect In This Week
The new week has obviously started in the best possible way, and we hope that the upward trend will be sustained in the coming days.
Total Market Cap = $113.8 billion
BTC Market Cap = $61.7 billion
BTC Dominance = 54.2% (0.8% less than last week)
Stay tuned for our Crypto Market Weekly Update next week, and don’t forget to join our telegram channel so you never miss our updates and stories