The market stayed relatively flat during last week. The overall cryptocurrency market cap increased 1% to $216 billion. Bitcoin was up 4% to $6,400 and ether price increased 2% to $300.
Overall trading volume was thin because the market was pretty quiet. What’s interesting was that altcoins experienced a dramatic run up in the middle of the week, with some coins like Nano, Ontology, and Vechain more than doubled in a matter of days.
Despite the mini altcoin run, valuation for altcoins have dropped substantially so far this year – the #100 most valuable cryptocurrency now has a market cap of $59 million, meaning that some higher cap ICO projects would automatically make it into a top 100 coin at ICO price.
This is partly why ICOs have performed poorly recently. The market is not ready to attach a top 100 valuation to many of the new projects.
Coinbase' Toshi Receives New Features and Turns into Coinbase Wallet: https://blog.coinbase.com/goodbye-toshi-hello-coinbase-wallet-the-easiest-and-most-secure-crypto-wallet-and-browser-4ba6e52e4913
Thai SEC Clears Seven Cryptocurrency Operators to Serve Clients, Reviews Two More: https://cointelegraph.com/news/thai-sec-clears-seven-cryptocurrency-operators-to-serve-clients-reviews-two-more
Binance, LCX Collaborate to Launch Fiat-to-Cryptocurrency Exchange in Liechtenstein: https://www.ccn.com/binance-lcx-collaborate-to-launch-fiat-to-cryptocurrency-exchange-in-liechtenstein/
Petro Will Be An Official Alternate Currency in Venezuela: https://www.ccn.com/petro-will-be-an-official-alternate-currency-in-venezuela/
Hong Kong University Receives $20 Mln Research Grant for Payment Systems, Blockchain: https://cointelegraph.com/news/hong-kong-university-receives-20-mln-research-grant-for-payment-systems-blockchain
FINRA Throws Shade on the ‘SAFT’ ICO Framework: https://www.ccn.com/finra-throws-shade-on-the-saft-ico-framework/
Bitcoin Investor Michael Terpin Sues AT&T For $224 Million in Alleged Crypto Fraud: https://cryptoslate.com/bitcoin-investor-sues-att-for-224-million-in-alleged-crypto-fraud/
Deep Dive into Stellar: https://crushcrypto.com/stellar-cryptocurrency-deep-dive/
FunFair Post-ICO Update: https://crushcrypto.com/funfair-update-august-2018/
Bgogo ICO Review: https://crushcrypto.com/bgogo-ico-review/
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.