The cryptocurrency market was down across the board during the past week, with the overall market cap dropped by 15% to $326 billion. Bitcoin is down 13% to $7,300 while ether price decreased 19% to $570.
Trading volume was low – almost at the same level as early April when the market was at the lowest point this year. Investors are taking a cautious stance and more and more market participants are predicting that the market will go lower before it rebounds.
However, the ICO market is still very hot with many popular projects being heavily oversubscribed in very early stage. It is interesting to see the different kinds of sentiment in various parts of the market.
U.S. State and Provincial Securities Regulators Conduct Coordinated International Crypto Crackdown: http://www.nasaa.org/45121/state-and-provincial-securities-regulators-conduct-coordinated-international-crypto-crackdown-2/
U.S. Launches Criminal Probe into Bitcoin Price Manipulation: https://www.bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe
Coinbase acquires cryptocurrency trading platform Paradex: https://bitcoinmagazine.com/articles/coinbase-takes-another-step-toward-trading-ico-tokens-acquiring-paradex/
Former OKEx Chief Joins Rival Cryptocurrency Exchange Huobi: https://www.coindesk.com/former-okex-chief-joins-rival-cryptocurrency-exchange-huobi/
Verge Cryptocurrency Suffers Its Second Hack in Less Than Two Months: https://cryptoslate.com/verge-victim-to-yet-another-51-attack-xvg-down-15-in-past-24-hours/
Bitcoin Gold Hit By 51% And Double Spend Attacks, Millions Stolen: https://www.ethnews.com/bitcoin-gold-network-loses-millions-from-a-51-percent-attack
Norway and England Contemplate Central Bank-Issued Cryptocurrencies: https://news.bitcoin.com/norway-and-england-contemplate-central-bank-issued-cryptocurrencies/
Ashton Kutcher gave Ellen DeGeneres $4 million in cryptocurrency for her charity: https://www.cnbc.com/2018/05/24/ashton-kutcher-gave-ellen-degeneres-ripples-xrp-for-charity.html
Crusher of the Month – Polymath: https://crushcrypto.com/poly-crusher-may-18/
Fantom ICO Review: https://crushcrypto.com/fantom-ico-review/
Featured project – Mainframe: https://crushcrypto.com/mainframe-project-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.