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MrCoin

Weekly Crypto Recap

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“Bitcoin is the best way to transfer value into the future that we’ve ever seen.” ~ Saifedean Ammous, author of "The Bitcoin Standard"

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Market State

BTC: €5,721.25 | +5.30% since last week

ETH: €404.18 | +8.76% since last week

BCH: €679.44 | +9.86% since last week

LTC: €71.18 | +6.62% since last week

The crypto market was more or less stable during the last week until Monday when the market showed positive movement due to some good news. The total market cap for cryptocurrency is now at €231.98 billion, which increased by 4.62% compared to last week. Bitcoin is up by 5.30% to €5,721, Ether price appreciated by 8.76% to €404.18. It seems that the news announcements of institutional money to flow into the cryptocurrency market has had a positive effect on the markets.

Bitcoin Cash has increased by 10% over the last 24 hours to €679.44 as Google adds real time Bitcoin Cash price support.

Bitcoin Network

Also the news on world’s largest asset manager BlackRock is considering to enter into the crypto market. BlackRock has already created a team to begin researching blockchain and crypto investment opportunities.

Quiz of the week

When is a Bitcoin transaction confirmed?

  1. After it is included into the block
  2. After 10 minutes passed since the transaction was made
  3. After the transaction is broadcasted onto the network

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

Top stories of the week

Coinomi

100 Tokens By 2020

Ledger, the safest wallet to store cryptocurrency, will add support for new crypto assets on the first Tuesday of each month, starting in August with a goal of having more than 100 supported cryptocurrencies by 2020, to meet demand from institutional investors. This week it's adding support for Tron (TRX) and Zcoin (XZC). The move is another sign of how the cryptocurrency industry is rapidly evolving.

Ethereum10

Mobile Browser With a Built-In Crypto Wallet

The Android browser, Opera is launching a new browser that has a built-in Ethereum wallet, support for other coins likely to come later. Now 322 million users of Opera browser would no longer need to install separate applications to make crypto transactions. Previously, Opera browser added cryptocurrency miner protection for smartphones to protect users against crypto mining embedded websites.

Reddit

Coinbase Adding 5 New Coins

Coinbase, the most popular U.S. cryptocurrency exchange, is exploring the possibility of adding five more coins to its trading platform. The five cryptoassets being considered by Coinbase are: Cardano (ADA), Basic Attention Token (BAT), Stellar (XLM), Zcash (ZEC) and 0x (ZRX). The prices of the five cryptoassets begin to soar immediately following the announcement.

Telegram

Litecoin Foundation Buys Shares of a German Bank

The Litecoin (LTC) Foundation has partnered up with the TokenPay, crypto-fiat payments firm and acquired a 9.9% stake in Germany’s WEG Bank AG. Charlie Lee, the founder of Litecoin said he’s looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin.

Bitcoin Mining

Ledger Live

Ledger released Ledger Live, a desktop software that runs on Windows, Mac and Linux. Ledger Live is replacing the old system of separate Chrome applications and allows users to store and manage their cryptoassets all in one place. ERC20 tokens are not available yet in the first version of Ledger Live, but Ledger is planning to include them in the future plan. Ledger Live is free to all and supports Ledger Nano S and Ledger Blue.

Korean banks held almost $2B in crypto

South Korean central bank reported that Korean commercial banks held almost $2B in cryptocurrencies back in December 2017. The number is no surprise as Korean banks have been competing with a local cryptocurrency exchange, Bithumb to attract customers. Some of the banks offer free vault services but charge a commission on their clients’ withdrawals. Banks were reaping huge profits as the income from the service grew by about 36 times.

Bitcoin Mining

Google Co-Founder Reveals He Is an Ethereum Miner

Sergey Brin, the ninth richest man in the world and one of Google’s co-founders revealed at the 2018 Blockchain Summit that he and his 10 year old son are mining Ethereum. His son encouraged him to get a gaming PC and he then compromised with his son that the PC was to be used to also mine  cryptocurrency. Sergey is highly optimistic about the future of blockchain and its implementations.

Shanghai Stock Exchange adding blockchain

The world’s fourth-largest stock exchange is interested in implementing Distributed Ledger Technology (DLT) to improve the transparency of the securities industry. Implementing the blockchain technology in China has become difficult due to regulations. The exchange wants to use DLT for securities issuance and trading, customer registration and post-trading processing and settlement.

Tweet of the week

Bitcoin Network

Meme of the week

Bitcoin Network
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Crypto word of the week

Bitcoin Network

Decentralized networks are not run by a single individual or company, but instead run on a peer-to-peer network which means the data is distributed and stored on every computer (full node) on the network. If any of the node fails the network is still able to operate. It is unfeasible to hack decentralized networks as every single participant in the network has the data copies which would automatically check and reveal the deceptive data.

Quiz answer

Which one is the least safe place to keep your cryptocurrency?

The correct answer is : “A”

A transaction is said to have been confirmed when it's included into the block. Then, after each new block is mined a transaction gets an additional confirmation.  Each confirmation decreases the likelihood of a transaction being reversed.

 

Thank you for reading :) 

Have a great day!

MrCoin

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