2017 has been an eventful year for cryptocurrencies. We take a look back over the past year to discover the top 10 most notable events.
• The ICO Boom
The new year led to the launch of the most notable ICO projects of 2017. It saw the true boom of ICO financing, and this is only set to continue throughout 2018. Although towards the end of the year, these projects became smaller, it was not unusual for the token sales to raise up to $25million.
• The Bitcoin Cash Hard Fork
Bitcoin created Bitcoin Cash, which although has seen its fair share of bumps in the road, in just six months it has managed to produce a digital asset with a market price of three times as much as that of Bitcoin in December 2016.
• The SegWit2X Project
After Bitcoin Cash split, Bitcoin faced problems, and the solution appeared to be to implement larger blocks. This did not go through, and it led to more hype and a spike in Bitcoins price.
• The Chinese Ban On Exchanges And ICOs
This huge ban caused major coins like Bitcoins and Altcoins to slump. Bitcoin eventually recovered, but this could not be said for many others. Chinese exchanges found a way to work outside the mainland and liquidity picked up again.
• The Ascent of Thethers
In April, a minting walled started to increase the number of USDT in circulation, reaching a total of $1.2million in market capitalisation. Tethers add liquidity to Bitcoin trading, and many believe that this has distorted the market causing a bull run.
• The Parity Wallet Freeze
A newbie hacker tampered with a multi-sig wallet smart contract and killed it. The Parity Multisig Wallet has seen its second big hack, and cannot be released without a hard fork in the Ethereum protocol.
• Bitcoin Futures
Bitcoin launched futures on CBOE and CME Group markets in December. This caused the price of BTC to tank, and no one could tell if this was because of the futures of just volatility.
• The Altcoin Bull Market In December
During the Bitcoin rise, investors became hungry for ‘flipping cyrptos’, which saw a great bull run in altcoins, as the prices were very low. Obscure and sleeping coins rose to all time highs, with the leading ones being Litecoin, DASH, Ethereum, and Monero.
• The NiceHash Hack Losing More Than $60million Worth Of Bitcoin
The NiceHash hack happened when Bitcoin was at an all time high. It targeted the infrastructure of miners and caused a huge loss.
• The Mining Wars Of 2017
This year saw mining becoming incredibly competitive. Bitcoin and Bitcoin Cash competed for miners and hashing power, which could be reflected in the market price of Bitcoin Cash.
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