Welcome to The Week in Crypto – Feb 25th 2018
A small retrace in the cryptocurrency market this week, as it takes a breather from the large rally the week before – although most altcoins fell on average by -18% in the last week, Bitcoin showed it’s dominance by only a -11% drop.
Overall, the cryptocurrency market dropped from the week before, moving down $495 billion to $429 billion.
Bitcoin: Lost some of the gains from the week before and fell from $10,886 to $9,658 (-11.2%)
Ethereum: Eth also managed to hold some of its previous gains and only fell slightly $944 to $843 (-10.7%)
Ripple: Pretty hard hit this week, with a drop from $1.15 to $0.94 (-18.26%)
Bitcoin Cash: With new Bitcoin tech news released (see below) BCH took a big hit and fell from $1527 to $1178 (+22.85%)
Litecoin: Cardano fell out of the top 5 and Litecoin has replaced it – this week closing at $223
- Total cryptocurrencies: 1,519
- Market cap: $429,568,527,403
- BTC dominance: 38.0%
Top 20 cryptocurrencies as by market cap:
Market cap changes by coin for the last week:
The big story this week is that the latest version of Bitcoin is going to offer Segwit support by default (What? – Basically, cheaper and faster transactions – which takes a big bite out of Bitcoin Cash’s unique offering). Coinbase and GDAX announced they are going to offer full support immediately for Segwit for all of their users (it has been available since August, but they’ve been a bit slow in implementing it, what with adding 100k users/day)
Did you know there is a town in Italy where every shop accepts Bitcoin? A Japanese cryptocurrency exchange sold Bitcoin briefly for zero, Poland’s Central Bank admitted to funding a smear campaign against cryptocurrencies.
South Korea’s cryptocurrency regulator was found dead at home.. #conspiracy, a bank (Bank of America) finally admitted cryptocurrencies could hurt their business model (though at first glance, it does read because their customers are banned from using their cards for buying cryptocurrency)
Venezuela launched their Petro cryptocurrency this week – the next day they announced Petro Gold – hold on a minute, is it a fork already? No, this one is linked to Gold.
U.S. Olympians are turning to Bitcoin to raise funding for their sports (ok, only $25 so far – but it is a start)
Finally, how do you make sure your crypto-inheritance gets passed on? Take a read on how one father had the tricky problem to deal with.
Read about the guy that now lives on a yacht, funded by Pepe Dollars (!)
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We’ll be back next week with another update on Sunday, 4th March!