The Week in Crypto – Mar 11th 2018

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Welcome to The Week in Crypto – Mar 11th 2018

Weekly summary

Three big things this week brought the market lower – fears of regulation, rumours of an exchange hack, and news of a massive seller in the market. More details below!

Overall, the cryptocurrency market lost over 15%, moving down $465 billion to $393 billion.

Bitcoin: The primary coin suffered some losses this week and fell from $11,431 to $9,698 (-15.16%)

BTC:USD for w/e 11th March 2018

BTC:USD for w/e 11th March 2018

Ethereum: Mirrored Bitcoin quite closely to fall $864 to $733 (-15.16%)

ETH:USD for w/e 11th March 2018

ETH:USD for w/e 11th March 2018

Ripple: Faired better than the other coins, but now well below the all time high in January down $0.96 to $0.84 (-12.5%)

XRP:USD for w/e 11th March 2018

XRP:USD for w/e 11th March 2018

Bitcoin Cash:  BCH managed to keep the losses to a minimum this week, but still fell $1,274 to $1,154 (-8.15%)

Litecoin: Like Bitcoin Cash, Litecoin also managed to stem losses as heavy as other coins – although still fall from $211 to $191 (-9.42%)

Weekly stats

Market stats:

  • Total cryptocurrencies: 1,556
  • Market cap: $393,174,941,001
  • BTC dominance: 41.7%

Top 20 cryptocurrencies as by market cap:

Top 20 coins for w/e 11th March 2018

Top 20 coins for w/e 11th March 2018

Market cap changes by coin for the last week:

Cryptomap for w/e 11th March 2018

Cryptomap for w/e 11th March 2018

Weekly news

First, the good news! In Australia you can now buy Bitcoin and Ethereum at simple newsstands, the state of Illinois is considering accepting Bitcoin for tax payments.

One of the trustees for the Mt. Gox hack came out with how many Bitcoin he’s already sold – and how many he still wants to sell. You can keep track of the whole thing over on RedditBitmain the huge Bitcoin miner producer (and mining company) is looking to setup shop in the US.

A familiar cat and mouse game is playing out for this cryptocurrency exchange – is it just banks being “protective” or are they doing their best to stop cryptocurrencies growing?

Meanwhile, the graphic designer for this ICO looks a little familiar!?

Bitcoin took a beating this week – but they can’t kill it as much as they try. Just to upset the bankers, the story behind the 22-yr old who is running a $5 BILLION dollar cryptocurrency (IOTA)

Big news this week was Binance was rumoured to have been hacked (again, it hadn’t – even better, the hackers lost funds!)

Are we in a bubble? Some people don’t think we are yet. Lastly, want to start you own cryptocurrency? Please, at least be original.

There is a war raging on Twitter (when isn’t there?) – this time it is all about @bitcoin, but at least Twitter is going to look at all those cryptocurrency scam accounts soon..

Weekly Longreads

A longread on why Bitcoin and other cryptocurrencies should be shutdown, a follow on from the Illicit cryptomining article. Also, Bitcoin is ridiculous (supposedly). Also, Wired talk about the background of the ICO bubble – just think of a name and start a coin, right? Finally, blockchain, blockchain, blockchain.

Here, on CoinGuide we had our ninth week of our Crypto Project 2018, which is our investment of $2500 across 25 different cryptocurrencies.

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We’ll be back next week with another update on Sunday, 18th March!