The market was generally up during last week. The overall cryptocurrency market cap increased 10% to $237 billion. Bitcoin was up 9% to $7,300 and ether price increased 6% to $290.
Overall trading volume was up compared to the previous week but still fairly thin. However, altcoins have done fairly well in general, with certain coins (Dogecoin and Dash in particular) performing extraordinary well out of nowhere.
During an Ethereum core developers meeting, it was agreed that the block reward is going to be cut by 33% in the next hard fork, scheduled to be in October 2018. After the reduction, the inflation for Ethereum next year is going to around 4.7%. This change may help the price of Ethereum because lower inflation would lead to less dilution to coin holders.
There are two news that are pretty positive to the cryptocurrency space, in our opinion, and they are (1) Yahoo Finance integrating BTC/ETH/LTC trading on their webpage, and (2) Bithumb, the biggest cryptocurrency exchange in South Korea, restarting user registration. Both of these events help putting cryptocurrency in the hands of more people, which helps the mass adoption of cryptocurrency.
Yahoo Finance Integrates Bitcoin, Ethereum and Litecoin Trading: https://cointelegraph.com/news/yahoo-finance-integrates-bitcoin-ethereum-and-litecoin-trading
Korean Crypto Exchange Bithumb to Restart User Registrations: https://www.coindesk.com/bithumb-to-restart-user-registrations-as-bank-agrees-contract-renewal/
Ethereum (ETH) Developers Cut Block Rewards By 33% To Curb Inflation: https://ethereumworldnews.com/ethereum-developers-cut-rewards-curb-inflation/
China’s Baidu Joins Tech Giants Tencent, Alibaba in Imposing Fresh Anti-Crypto Measures: https://cointelegraph.com/news/chinas-baidu-joins-tech-giants-tencent-alibaba-in-imposing-fresh-anti-crypto-measures
Mark Zuckerberg’s Sister Signs on to Serve on Huobi Chain Advisory Committee: https://www.ccn.com/mark-zuckerbergs-sister-signs-on-to-serve-on-huobi-chain-advisory-committee/
Japanese Social Media Giant LINE Launches Cryptocurrency, DPoS Blockchain: https://www.ccn.com/japanese-social-media-giant-line-launches-cryptocurrency-dpos-blockchain/
Apple Removes Crypto Collectible Game War Riders From Coinbase Wallet: https://www.coinspeaker.com/2018/08/31/apple-removes-crypto-collectible-game-war-riders-from-coinbase-wallet/
WAX Post-ICO Update: https://crushcrypto.com/wax-update-august-2018/
Deep Dive into IOTA: https://crushcrypto.com/iota-cryptocurrency-deep-dive/
Educational Series: Why is blockchain technology important? https://crushcrypto.com/why-is-blockchain-important/
Santiment Post-ICO Update: https://crushcrypto.com/santiment-update-august-2018/
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.