Huzzah! It’s back, your favourite article of the week. Whether that's because it means it’s friday, or you love my concise analysis of the weeks events, who knows? I suspect it may be the former however.
It has been quite a good week for crypto-fanatics. Marketwise, we have seen some really nice movements. Nothing too dramatic thus far, but the signs are pointing towards another surge which is expected to take place sooner, rather than later. Overall everything has looked pretty healthy, we did of course see some post-mid-April market surge correction take place at the start of the week, but that has since tailed off, giving us a very positive view of what to expect for the rest of April.
Before we begin, I should point out that as of writing, Bitcoin is up 3.36%, hitting $8500, Ethereum is up 9.71%, hitting $587, and, Ripple is up a stunning 20.73% hitting $0.87. By the time this article is uploaded, we may be in the midst of the second surge, if so, enjoy it!
This weeks refresher -
Cardano & Stellar battle it out
Cardano & Stellar have been displaying signs of a sort of battle, the market cap difference between the two has sunk significantly. Stellar looks to be getting ahead of Cardano and could take over, moving up to 7th place. Whilst such a race is mostly relevant, it highlights a really good performance from Stellar this week which has really stood out. The push from Stellar seems to be being counteracted now by Cardano, either way though, the pair have provided some fun viewing this week. Lets see if Stellar can take the lead over the weekend.
Russian corruption rife
Venezuela’s, troubled currency, El Petro has received recognition from a Russian awards board this week. We have seen some controversy between El Petro, the oil industry and Russian intervention. This recent news has re-sparked that debate, suggesting that Russia have their fingers in an El Petro flavoured pie, an allegation which is worrying some people. Otherwise, congratulations to El Petro on your reward!
Big YouTuber in big hack
Famous vlogger, Balina, an advocate of ICO’s was victim of a huge hack which saw his private wallets rinsed of assets. It transpired that the hack came down to a vulnerability in his Google account, through his personal recovery email address. Once his attackers got past this, they found encrypted information with regards to his passwords and wallet addresses, from this, they reaped havoc. This attack, serves as a reminder to us all, about how important our data security is.
What a week it has been for Verge. This week had been penned in all of our calendars as the week for Verge’s huge partnership announcement. The announcement came off the back of a huge crowdfunding campaign and promised to be the biggest partnership announcement in cryptocurrency to date. The partners - PornHub.
The anticipation for the announcement saw a huge surge in the value of Verge, it seemed that the popularity of the currency was never going to subside. Well, until they announced PornHub as their partners. In the wake of this, the value of Verge dropped, significantly. Right now, things are moving up for Verge once more. Whilst I think the announcement was over hyped, it was a bit naughty of Verge all in all, I don’t think PornHub will prove to be as detrimental for the team as we first thought. This opens up a brand new, albeit seedy customer base for Verge, this will bring them some success eventually, providing the damage done by their over-hype does not taint their reputation for too long.
Monero has a birthday
Happy Birthday Monero!
Bitcoin Cash hard fork
Another Bitcoin Cash hard fork has been confirmed, with the official date set for the 15th of May. This news has been circulated for a while now, but, it's always worth a reminder right?
Verge, has stolen the limelight this week, people are happy, people are disappointed, either way, the Verge team are very excited. Above all, it has been a positive week for cryptocurrencies. At the top end of the markets all currencies have made small gains and have continued to maintain at respectable levels.
We are now in preparation mode for another market surge, in the time it has taken be to write this, Bitcoin has shot up again, as has Ethereum and Ripple. By the time you read this, we might be in the middle of another bull run. If not, sorry to disappoint you, we must have just seen a slight blip this afternoon!
Take care, trade safe, get yourselves ready for next week’s Crypto Refresh, it could be a big one.