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Binance Made Biggest Gains Last Week With Over 21% Profits

Weekly Market Updates

Binance Made Biggest Gains Last Week With Over 21% Profits


Credit: CoinMarketCap

The markets were not that profitable last week. In fact, there were just $1 billion of improvements in market capitalisation from the previous week.

Market cap was hovering around $182 billion on Saturday evening, but it faltered and lost over $5 billion. As at early Monday morning when this report was filed, the total market cap was a little over $177 billion.

On top 10, four currencies pumped whiles six depreciated for the seven days. To be apt, it wasn’t the best of a week.

Top 10 Standings At Midnight GMT+4 On Sunday

Even though it wasn’t that much productive week on the market for the past week, exchange token, Binance didn’t disappoint its holders for the second week running. It made a profit of 21.69% and closed the week with a price of $23.84 and still the 7th most expensive crypto in the world.

Crypto Pacesetter, Bitcoin clinched the 2nd growth rate for the week to appease its investors for the other week’s depreciation. With a price of $5288.92, the appreciation rate was 2.32%.

The previous week Ether lost more than 6%; however, it managed to recover a little bit to post a 1.25% swell. The trading price at the time of filing this report was $169.72.

Tether also made gains, but it was very meagre. It went up 0.12 and sold for $1.01.

Meanwhile, the least growth decline came from the camp of Bitcoin Cash. The Bitcoin Hard Fork listed for sale at $291.91 whiles it dipped 0.99%.

XRP lost 2.42 in the last seven days under review marking two consecutive weeks of loss. Most exchanges were selling it at $0.320776.

Stellar Lumen brought its depreciating rate down from 10.04% last two weeks to 5.26% last week. It closed the week with a price of $0.111472.

EOS displaced Litecoin from the 5th spot, but it still didn’t save it from tumbling down. Its record was negative 5.52% with a price of $ 5.21.

Charlie Lee’s creation, Litecoin, wasn’t spared either. It was the second highest casualty with a 7.24% slump and could be bought at $76.34.

Moreover, the most significant loss for the entire week was 14.31%. Cardano was responsible for that registering a two straight week of stunt growth and an accompanying price of $0.072408.

Highlights Of Last Week

Cyprus-based eToro launched a Crypto exchange supporting eight stablecoins on Tuesday. Known as eTorox, CEO Yoni Assia announced that the introduction of the stablecoins is just the inception of an aggressive strategy to offer the tokenised variant of other assets, including pure metals and fine art.

Coinbase on Wednesday announced it is expanding its services to 11 new countries. The new frontiers are Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand.

Cryptocurrency exchange Gemini revealed it is adding complete support for segregated witness (SegWit), a critical bitcoin code shift that allows scaling improvements. The Winklevoss brothers-backed crypto exchange will introduce support for SegWit addresses and transaction batching.

The week also witnessed top exchanges like Kraken, Binance, and ShapeShift delisting BitcoinSV. This follows Craig Wright’s threat to sue Hodlonaut over the claims that he is not Satoshi Nakamoto.

Frisco d'Anconia

Frisco d'Anconia is a journalist by profession and a Free Market Policy analyst. Through Africa Youth Peace Call which he founded in 1997, more than 2000 African youth were educated in Free Markets Economics and entrepreneurship. Many of these people have moved on to start businesses and institutions to advocate for market reforms in Africa. In 2007, he won the 1st Prize of the Mont Pelerin Society Essay Competition for Africans under 30 with an essay on Ghana's Telecommunication Liberalization. This man single-handedly brought Bitcoin/Cryptocurrency and Libertarianism to his native Ghana. Since 2011, he has been spreading Blockchain technologies in Ghana through his Liberty and Entrepreneurship Camps. He has written for the Cointelegraph, CryptoCoinsNews, Core Media, Bitcoinchaser and others with the pen name Frisco d'Anconia. From 2016, he is travelling through Africa promoting and writing about Blockchain technologies and its communities for the Crypto journals. So far the Cryptotraveler/Cryptovagabond as he's popularly known has been to 22 African Countries attending conferences, organising Meet-ups and promoting Blockchain Projects. He lives on, and solely earns Crypto and has no bank account. He ardently holds that Blockchain technologies are the answer to Africa's copious malaise. Currently, Mauritius is his base where he runs Qubitica LTD, a Blockchain Company as CEO, and as the Managing Editor of QBITtimes. His interests are Economic Freedom in the world, Fintech, writing, teaching, travelling and children, and has two beautiful daughters.

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