Over the last week the cryptocurrency market bounced within a range of $260 billion and $267 billion. The price of Bitcoin is still holding above $10000. Currently it’s trading around $10221 which is pretty much where we were last week. According to a new research, every Bitcoin holders make a profit of 100% within 1335 days regardless of what price they bought. This corresponds to three years and 8 months. Investors would need to hold their position for 23 years in order to achieve the same profit with S&P 500. Profiting from Bitcoin seems to be correlating to its block reward halving cycle which occurs every 4 year.
Demand for the Ethereum network is growing. Ethereum total daily gas use is currently at all time highs. Though the increased gas usage is a good sign, this also means that the transaction fees will go up until Ethereum 2.0 comes out. The price of Ether is up by 9% to $198 since last week.
Airdrops are back. Several projects have announced airdrops. The Stellar Development Foundation has announced to give away 2 billion XLM tokens to users of privacy-focused chat app Keybase over the next 20 months. Also Bancor, cross-chain token converter has announced that it will airdrop its entire ETH reserve which is worth approximately $2.4 million to the BNT (Bancor Network Token) holders.