The crypto market kept steadily increasing during the last week. Bitcoin jumped from $5300 to $5930. With the rise in price Bitcoin market cap has went over $100 billion for the first time since the 15th of November 2018. Bitcoin dominance is 55.7%, the highest level since September 2018. Ethereum rose 11% to $176. ETH 2.0, Ethereum’s transition to Proof of Stake will be finalized by the 30th of June. CEO of Tesla, Elon Musk tweeted a single word: “Ethereum” last week. In response to the tweet co-founder of Ethereum, Vitalik Buterin invited him to Ethereum’s annual conference Devcon5 in October.
The overall market gained 11% to $187.7 billion. The crypto market didn’t collapse after Tether and Bitfinex news. Tether's circulating supply is not fully backed, only 74% of it is actually backed by USD. Bitfinex is launching its own cryptocurrency via a token sale to bring new money and pay back borrowed reserves from Tether. There have been number of announcements from large enterprises partnering up on blockchain projects in the first quarter of 2019. More and more large enterprises now understand the power of blockchain technology.