We say this every single week, but we do really mean it this week, what a week!
In our new weekly feature*, we are going back through the weeks headlines to bring you the important updates all over again. A lot has happened this week, so it’s only fair we sort you out with some reminders, right?
*I say new feature, this is our third week, its quickly becoming an essential part of our service.
$1.1bn of New Coins Added to Bitfinex
12 new tokens are soon to be added to the Bitfinex exchange, with a value in excess of $1billion. What this means is that adoption of new currencies such as Loopring and IOSToken is becoming a more realistic concept. Enhancing the types of coins available on an exchange really does influence the transparency of the markets on the whole. We expect to see more announcements like this in the coming weeks.
FCA Review Looming
The Financial Conduct Authority (UK) have announced that they are completing a full review on cryptocurrencies. Whilst they aren’t expected to totally clamp down on trading, the review is expected to throw down a range of regulations that target exchanges and ICOs specifically. We are to expect more news from the FCA and UK governments about their stance on cryptocurrencies in the coming months.
Bitcoin Falls Another $400.00
Bitcoin fell quite substantially at the start of the week, possibly at the hands of the looming US tax deadlines.
Bitcoin Silenced by Twitter
The Bitcoin Twitter account came into controversy this week when it was suspended from Twitter. The account was soon re-established soon after, but many questions popped up as a result of this. Was this a hack, was this censorship gone mad, or, is something else happening in what seems to be an on-going war between social media and the blockchain revolution.
OnePay FX App
Santander launched their OnePay FX app this week. This is a mobile phone application designed to facilitate cross border payments. At present, the app is using Ripples systems to authorise payments over the blockchain, meaning that this seems to be a huge step in the right direction for both Ripple and Santander, when you consider the rumours about eventual XRP integration.
Cardano, Ontology, Neo and EOS
All of these currencies had quite a positive week, until Thursday when things changed.
Verge Back on Track
After a bumpy few weeks, Verge seems to have made a recovery in time for their big partnership announcement. This is due next week and is something we are fairly anxious about now. Whatever the announcement is, it’s sure to make a storm.
Bitcoin Cash with Second Hard Fork
Bitcoin Cash are committing to a second hard fork in order to roll out further updates, this announcement was met with some controversy but promises to set Bitcoin Cash on a trajectory to adoption.
That’s all folks!
Only joking, something else happened this week, something that we expect to continue through the weekend, did you hear about it?
The real news this week saw what seems to be the end of weeks upon weeks of constant declines and troughs on the overall cryptocurrency market. Thursday afternoon saw spikes from most of the currencies, including huge jumps up for Bitcoin, Ethereum and Ripple.
Whilst the likes of EOS, Neo, Cardano, Ontology and Reddcoin had solid weeks, their success was over-shadowed by what seems to be a bull run, forcing the value of all currencies up.
At the time of writing, this is how the markets stand:
We have big inclines across the board. Granted, by Friday afternoon as we write this, many of the leaps have no settled back down suggesting that some correction could be inbound but overall, experts are predicting that this trend will continue, in the form of various other bull runs over the next few days. Bitcoin seems intent on remaining about $8,000.00 as is EOS above $9.00. Cardano is still making good progress despite the slight lapse and, Ripple is storming up.
This has been an incredible development and has at the very least inspired some confidence back into investors. This trend won’t continue forever, but it looks like the weekend could give us some really good figures to wake up to on Monday morning.
That’s your lot for this week. Obviously, an awful lot more than this has happened, feel free to trawl through our archives at your leisure and as ever we will be on hand with updates throughout the weekend. Keep your eyes on the prize, you know where to find us!