WEEKLY CRYPTO NEWS RECAP
A week in a nutshell, June 18-25, 2018
Let’s have a look at the past seven days.
Briefly: Another tough week.
The good news: there have been some significant winners.
Let’s see the details.
Over the last seven days, we have had another challenging week, meaning that the general price development mirrored the market capitalization. The market cap is down 9% from $276 billion to $251 billion. There is one positive fact, however: some cryptos in the top 100 didn’t follow the downward pattern, so maybe some coins have the strength to break the standard habit of following Bitcoin and Ethereum in bearish moods.
Bitcoin lost about 5% across the week and can still be called a relatively stable crypto, compared to the other leading altcoins that closed the last 7-day cycle with 10 to 25% losses.
Ethereum is down 10 percent in the last 7 days, slowly recovering now from its Sunday evening low of $426. At the time of writing this article, it is back at $465.
Ripple helplessly followed the pack, it ended up losing 8% across the week.
Similarly, Bitcoin Cash is down 11%, looking at the last 7 days.
Litecoin, Stellar and Cardano suffered a bit more from the market gravity, losing 15-18% last week.
What a week if we can say that with a loss of less than 1 percent, Tron is one of the winners in the crypto market. But the real winner was New Zealand’s coin, Centrality. They announced that they had become an Amazon Web Service trusted partner, and as a result, they can boast with a 55% weekly gain, standing out from the crowd of cryptos that closed the week with losses.
Another coin, Basic Attention Token, the privacy browser project had a 24 percent jump over 24 hours after they had published news of a new user trial system launch. After all, they couldn’t maintain the sudden growth but they closed with a solid 6% increase which makes Basic Attention Token one of the superheroes of the week.
Ethereum Classic is another winner. Enjoying its introduction to Coinbase, it is up 4.4% in the last 7 days. Monero wasn’t doing badly, either, with its 3.66% weekly gain, and it’s still continuing to move upwards today.
Still not good enough news, no doubt. But let’s close it with a ray of hope, that is Bitcoin’s latest price development: Following Bitcoin’s Sunday afternoon low point of $5,838 there was a sudden 200-dollar increase yesterday, followed by further improvement on Monday, as a result of which BTC has managed to climb back to 6,300 dollars. That’s where we are at the time of writing.
We’ll be back soon with another update from the crypto space.