It was a relatively quiet week since it’s the last week of the year. The biggest news was the new restrictions on cryptocurrency trading from South Korean government, which turned out to be much less severe in scope than initially thought.
Bitcoin didn’t do much during the week – after breaking through $16,000 for a little while, it dipped back to around $13,000, or a drop of 8% from the last week.
Ripple had a meteoric rise and is now the #2 most valuable cryptocurrency, ahead of Ethereum, with a market cap of $76 billion based on circulating supply. Note that only 39% of all XRP are issued, so Ripple actually has a fully diluted market cap of $196 billion.
Despite being overtaken by Ripple, Ethereum held up pretty well last week. It is up 4% to $710 and has been outperforming Bitcoin since the rollout of CME futures.
Happy new year to you all! Let’s keep on crushing it and make 2018 an even better year!
Poloniex to Impose Customer ID Requirements: https://www.coindesk.com/crypto-exchange-poloniex-impose-customer-id-requirements/
South Korea Is Imposing New Restrictions on Cryptocurrency Trading to Limit Speculation: http://fortune.com/2017/12/28/south-korea-cryptocurrency-trading-regulation/
CEO of a bitcoin exchange Exmo Kidnapped in Ukraine and Released After Paying Ransom of $1 million: http://www.businessinsider.com/exmo-bitcoin-ceo-pavel-lerner-kidnapped-in-ukraine-2017-12
John Mcafee Extorting to Receive Payment for Pumping Verge: https://imgur.com/a/wdwIj
UK Garbageman Now Accepts Bitcoin Payments: https://news.bitcoin.com/uk-garbageman-now-accepts-bitcoin-payments/
Articles From Crush Crypto
Analysis of Bee Token ICO: https://crushcrypto.com/analysis-of-bee-token/
Three macro trends in 2018: https://crushcrypto.com/3-trends-for-2018/
Analysis of Gatcoin ICO: https://crushcrypto.com/analysis-of-gatcoin/
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.