Kryptonyheter från Invictus capital vecka 1,2
Weekly Cryptocurrency Market Wrap
5 - 11 January
The crypto market continued its relatively muted start to the new year. The total crypto market cap fluctuated in the low $130bn region throughout the week after delivering modest gains since the beginning of the year. Bitcoin, however, broke through the $4000 price ceiling for the first time in the year which brought some optimism about a potential bull run. Unfortunately, the hopes of further price gains fell away towards the end of the week as the price of Bitcoin dipped below $4000 during a sudden sell-off on the 10th of January. Ethereum also traded flat this week, having reclaimed its number 2 position in the crypto market over XRP earlier in the year. However, with the sell-off on Thursday, ether once again fell to the 3rd position in crypto market cap rankings.
It's clear from this week's market performance that the market is struggling to hold gains as participants look to take profits without clear signals of a longer-term bull run.
BDM, Invictus Capital
Latest Market News
Coinbase Suspends Ethereum Classic After Blockchain History Rewrites
Coinbase and other top exchanges halted Ethereum Classic transactions this week after the network came under a 51% attack. The attack was discovered by Coinbase who detected double spending, where transactions totaling 219,500 ETC, around $1.1 million, “were reorganized” on the blockchain by the attackers.
Bitcoin Transaction Fees Hit Three-Year Low as Lightning Network, SegWit Help BTC Scale
Bitcoin fees have hit a new 3 year low as both the Lightning Network and SegWit have helped BTC scale. According to Bitinfo charts, a data aggregation source for Bitcoin, the median transaction fee for the cryptocurrency’s network fell just below 3 cents this week. This is in stark contrast to the peak median fee of almost $34 in December 2017.
Japan’s Financial Watchdog Might Approve Cryptocurrency ETFs After Saying No to Futures
Japan’s financial regulator is considering approving exchange-traded funds (ETFs) according to sources at Bloomberg. This is despite the fact that the regulator previously shelved plans to approve crypto futures in Japan given that the regulatory believed these products would only stir further speculation in the market.
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