Your Weekly Crypto Roundup – September 22

The last seven days saw a lot of action in the crypto-sphere:


Sponsored Links
Mid Post Ads

Bitcoin, the Old Faithful of the crypto world, stood at a little over the $6,500 mark last week. It bottomed out at about $6,230 before hitting a high of $6,770 on Friday.

  • 9 out of 10 of the top-10 altcoins (excluding Tether) saw significant gains during the week
  • Ripple, in particular, doubled in price (from $0.28 a week ago to about $0.56 on Friday)
  • The Ripple rise was likely due to positive press regarding potential alliances between various bank networks and the Ripple Foundation
  • Cryptocurrencies as a whole added over $25 billion in market cap over the last week, rising from about $201 billion a week ago to $227 billion by the end of business on Friday

It used to be that swings on the order of a few hundred dollars or double-digit percentage points were the norm over a period of a few hours, but in this Crypto 2.0 world we’re living in, things seem to work a little differently, as we’ll see below.

Gainers and Losers

Here are some of the biggest gainers and losers of last week:

  • E-Dinar Coin (EDN) is an Android wallet that allows you to manage your coins without storing the full-size units of the chain on your cell-phone. It appreciated over 500% over the last week
  • Vibe (VIBE) is powering a virtual social reality that connects people from all over the globe in music, education, gaming and dating. Vibe appreciated over 140% over the last week.
  • Bitcoin Plus (XBC), a Bitcoin fork that aims to be more efficient, fast, and reliable than its older sibling, lost over 75% of its value over the course of the last week.

This goes to show that large swings still occur, but only invest after thorough research and understanding what it is your project of interest actually does.

Regulatory Blocks, Hacks, and Attacks

This week saw its share of setbacks in the crypto space.

  • Zaif, a Japan-based crypto exchange, was hacked for almost 6,000 bitcoin last week. A total of almost $60 million ($59 million, to be exact) was reported stolen on September 18, even though the hacked was tracked to malicious activity that took place as early as September 14.
  • The Chicago Board Options Exchange (CBOE), in partnership with Gemini, the Bitcoin founded by the Winklevoss Twins, tried to have a Bitcoin Exchange Traded Fund (ETF) approved by the Securities and Exchange Commission (SEC). The decision was to be announced later this month but was postponed until at least February of next year.

An ETF for Bitcoin would mean that institutional investors — big buyers, industrialists, banks, and large organizations — would be able to invest in Bitcoin more easily. With the postponement of the decision, however, the SEC is sitting tight on it’s long-held contention about Bitcoin and other cryptocurrencies: there is just too much risk to open the floodgates to the public at large.

Those who believe in the technology are not likely going to be deterred from HODLing during these trying times, but an SEC approval of an ETF is certainly something we would love to see happen. Let’s see how the weeks and months ahead play out.

This decision goes hand in hand with California’s recent legislation prohibiting political campaigns from accepting crypto contributions, likely because of the difficulty of establishing a clear paper trail for funds and to curtail any possible abuse by donors as well as recipients.


There is still good news, though.

  • Research shows that blockchain and cryptocurrencies are finding their way into university classrooms, with many of the top schools around the globe offering introductory crypto and blockchain courses. A selection of courses includes “Blockchain, Cryptoeconomics, and the Future of Technology, Business, and Law,” which is currently being offered at UC Berkeley, and “Digital Currency, Blockchains, and the Future of the Financial Services Industry,” which is currently on offer at NYU. There are also numerous MBA-level courses in these fields on offer at Stanford, MIT, Georgetown, and UCLA, to name just a few.
  • Overstock, the popular reseller of home items, was the first large retailer to accept Bitcoin, way back in 2014. More recently, the company received Chinese investments in tZERO, which is Overstock’s blockchain subsidiary, and they are set to launch a crypto wallet and exchange.
  • Chain was recently purchased by the Stellar Development Foundation. Chain is a blockchain startup backed by Visa, Nasdaq, and Citi Ventures, meaning three big companies (at least) are likely going to make more formal entries into the crypto space in substantial ways. Stay tuned!
  • Finally, Fidelity Investments, the world’s fourth-largest asset management company with over $2.4 trillion in in assets under management, is looking to offer crypto investment vehicles to its user base as early as by the end of 2018. These are pretty big, bold moves we’re seeing from corporate America.

ICO Mania

Last but not least, here is a review of a few ICOs that are set to close over the coming days.

  • Chynge (XCLP) aims to be the world’s first payment token that has no foreign exchange or currency risk using advanced risk algorithms and liquidity pools. It’s token sale ends September 25.
  • Yamzu (YMZ) is an eSports project that already has substantial user traction and plans to host regional and global tournaments. Working with game developers by forming relationships surrounding the creation of new games, Yamzu will create value for developers as well as gamers. They have already raised nearly 5 million Euros out of their target of 13 million Euros, and the token sale (with bonuses) runs through September 29.
  • TrustLogics (TM-TLT) is a patent pending technology that enable professionals to build credible global profiles, facilitate pre-screening and private networking, and is supported by artificial intelligence. It already boasts a user base of 100,000 individuals and its token sale runs through September 25.

Thanks for joining us on this weekly roundup of news, prices, ICOs, and crypto adoption from all across the globe. Join us next week for more news and insights into everything crypto!


error: Content is protected !!