The sentiment for cryptocurrency improved significantly over the last week.
Bitcoin and Ether both went up by over 20%. Many alt coins/tokens were up dramatically (Bitquence up 1145%, Storj up 346%, District0x up 322%, Civic up 161%, NEO up 159%).
Bitcoin is seeing huge volume, likely to be coming from fresh fiat money getting into the game now that the chain split uncertainty is removed. As Bitcoin is usually the “gateway coin” into the crypto world, I expect a portion of the new money to flow into other cryptocurrencies in the coming months as investors learn more about them.
Historically, every peak is higher than the previous one. Given that 1) Ether price is still ~25% below all-time high, 2) there are no bad news for cryptocurrencies that would affect the fundamental value, I believe this uptrend is still far from over. Check back in two months and see if I am wrong in this prediction!
Developments in the Cryptocurrency World
UNICEF to explore smart contracts: http://unicefstories.org/2017/08/04/unicef-ventures-exploring-smart-contracts/
Certain lawmakers want to see Bitcoin become an official currency in Australia: https://www.coindesk.com/lawmakers-want-see-bitcoin-become-official-currency-australia/
Overstock.com accepts payments in all major alt-coins: http://www.nasdaq.com/press-release/overstockcom-now-accepts-all-major-altcoins-including-bitcoin-cash-through-integration-with-20170808-00685
Coinbase raised $100 million at a valuation of $1.6 billion: https://www.forbes.com/sites/laurashin/2017/08/10/coinbase-becomes-first-crypto-unicorn-raises-100-million-in-funding-amid-ico-craze/#498483c44090
Plasma white paper released - an off-chain scaling solution for Ethereum: http://plasma.io/
Bitfinex to stop services for US clients: https://www.bitfinex.com/posts/216
Omise GO will give away OMG to all Ether wallets with a balance of over 0.1 ETH: https://www.omise.co/omisego-airdrop-update