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MrCoin

Weekly Crypto Recap

Bitcoin’s value comes from its resistance to human arbitration. ~Elaine Ou, blockchain engineer at Global Financial Access

Market State

BTC: €5,706.59 | 1.57% since last week

ETH: €198.63 | -0.25% since last week

BCH: €469.94 | 18.03% since last week

LTC: €53.01 | 7.46% since last week

The crypto market remained relatively at the same level during the last week. The overall market cap increased by 2.01% to €192.35 billion. Bitcoin and Ether haven’t moved much compared to last week. Bitcoin is up by 1.57% to €5,706.59, while Ether is down by 0.25% to €198.63. Bitcoin Cash and Ripple have been the best performers of the last week. Bitcoin Cash has increased by 18% during the last week following the news that Bitmain, the cryptocurrency mining equipment manufacturer has filed for an IPO. Bitmain holds more than 1 million Bitcoin Cash, whereas BCH’s current supply is a little over 17 million.

During the last two months, the price of Bitcoin stayed in the €5500-€6500 range. In terms of worldwide adoption, lots have been done by the industry, including US Coinbase has launched a new index fund. Chinese search engine, Baidu released a whitepaper for its upcoming blockchain. Goldman Sachs-backed crypto finance company Circle has issued its own stablecoin, USD Coin (USDC) that is pegged to the US dollar. All this shows that institutional investors are becoming attracted to cryptocurrency and are willing to build the infrastructure they need to enter the crypto world. Overall the cryptocurrency market is receiving more attention and becoming more widespread.

Quiz of the week

What date was the Bitcoin network released?

  1. On 3 January 2009
  2. On 31 October 2008
  3. On 12 January 2009

Scroll down to see the answer at the end of the newsletter.

Top stories of the week

Coinomi

Google Ends Cryptocurrency Ad Ban

Google announced that they would remove part of its cryptocurrency ad ban which was put into place in June. As cryptocurrencies have gained popularity and produced both excitement and wealth, it has also spawned fraudulent products and services. The restriction was intended to protect consumers from initial coin offerings (ICOs) which are still not allowed. Regulated crypto exchanges will be able to advertise on Google in the US and Japan. Advertisers will have to apply for certification in order to place ads once Google’s updated ad policy goes into effect this October.

Ethereum10

Farewell Fiat, Hello Satoshi

Last week privacy-focused Bitcoin wallet Samourai announced that it was stopping to display Bitcoin balances in fiat currency. Instead, Bitcoin balances would only be displayed in Bitcoin or in Satoshi (sat), which is the smallest unit of a Bitcoin. Samourai wallet is aware that the change will require some efforts from users and some might even leave the wallet. But the company believes the change is necessary to build the right mental framework. Users can still use Samourai Wallet’s other app Sentinel Watch Only to keep track of all their wallets and view their balances in fiat.

Reddit

MetaMask now supports Ledger

Last month, MetaMask added support for Trezor hardware wallets. MetaMask now supports Ledger hardware wallets as well. Metamask is a Chrome browser plugin that allows you to make Ethereum transactions and access Ethereum dApps from your browser. Ethereum users had been eagerly waiting for Ledger support in MetaMask. Now users can interact with Ethereum dApps safely and securely with their hardware wallets. The convenience of a hot wallet combined with the security of a hardware wallet will increase the confidence and security in the Ethereum dApps adoption.

Telegram

BitTorrent to Integrate Tron Tokens

Earlier this year BitTorrent, the decentralized file sharing protocol was acquired by blockchain start-up Tron. Since then Tron Foundation has been working on a new project called Project Atlas, which is an initiative to connect BitTorrent to the Tron blockchain. Users who upload files and store them are called seeders on BitTorrent. Until now there were no incentives to seed files for a long period of time. With Project Atlas, BitTorrent seeders will be paid Tron tokens for uploading, storing and sharing files, which will result in faster downloads. BitTorrent’s new features will be backward compatible and available across its desktop and mobile products.

Bitcoin Mining

Research by Blockchain.com

Cryptocurrency company Blockchain.com has started doing research on the development of blockchains and its impact on the world. Recently blockchain.com released their first report on stablecoins with a technical in-depth analysis of all the active and in development projects. Stablecoins are cryptocurrencies designed to minimize price volatility and they are becoming an important part of the cryptocurrency ecosystem. The State of Stablecoins report takes a detailed look for the first time at the strengths, trade-offs, and concerns associated with all 57 active stablecoins.

Coinbase Bundle

Major US cryptocurrency exchange Coinbase has released several new products aimed at newcomers. The first product is called Coinbase Bundle, which lets users buy Coinbase’s five available cryptocurrencies with a single purchase. Users can buy a bundle of 5 cryptocurrencies for as little as $25. Coinbase’s market tracker page which tracks the top 50 cryptocurrencies by market cap is now live. Coinbase also launched an educational portal for those who are new to cryptocurrency. The company is aiming to list all cryptoassets that meet their standards via a new process where anyone can apply through Google Form.

Tweet of the week

Bitcoin Network

Meme of the week

Bitcoin Network

Crypto word of the week

Bitcoin Network

Blockchains have enabled a new type of applications. Decentralized Applications or Dapps are applications that are open source, where its data is stored on a public blockchain. This means dApps run on independent distributed computers located all over the world. Dapps allow their users to interact with each other directly without a middleman or a central server. For example, OpenBazaar is the is the decentralised version of ebay or Amazon. OpenBazaar lets buyers and sellers connect with each other directly.

Quiz answer

What date was the Bitcoin network released?

The correct answer is : “A”

The Bitcoin network was launched on 3rd of January, 2009. Bitcoin’s 10-year anniversary falls in coming January 2019.

 

Thank you for reading :) 

Have a great day!

MrCoin

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