Market Crashes, Binance Pivots and OpenBazaar Developments: This week in Crypto
Market Crashes, Binance Pivots and OpenBazaar Developments: This week in Crypto
What happened in crypto this week?
Price Watch
Bitcoin is down about 8% this week to $7,800.This has been attributed to low volume, FUD, and the ICO hearing. The news isn’t all bad though, several experts are saying now might be a good time to buy.
Ethereum is down about 16% this week to $560. This is likely caused by bitcoins slump and exacerbated as more projects announce they’re leaving Ethereum for competitors.
Binance announced it will be creating a decentralized exchange with its own blockchain. Despite no launch date being given Binance Coin (BNB) was up 25% on the news. Binance is currently the worlds largest exchange by trade volume.
82 Coins Being Delisted from exchange Bittrex because of low liquidity. Bittrex cited rampant fraud as the reason for removal. Unfortunately for investors 28 of the 82 coins have broken withdrawal mechanisms.
$2.5 million was raised for Lightning Network provider Lightning Labs this week. Despite its low capacity (about 4.5 BTC) the network has about 1,000 nodes.
Bad Press
Olver takes aim at ICO’s in Last Week Tonight citing scams such as BitConnect and comparing it to EOS. Oliver was simultaneously condemned by the community at large for spreading FUD and praised for presenting a two-sided, non-Dimon esque argument