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Weekly Market Roundup: Cardano Carried Week With Over 19% Profit

Weekly Market Updates

Weekly Market Roundup: Cardano Carried Week With Over 19% Profit


Last week witnessed a bit of stability in the Crypto Markets with slight losses and trivial gains here and there for most elite coins. The market cap at the beginning of the week rose to $142 billion, but by Thursday it has slumped to $140 billion, and by midnight on Sunday the figures were no different.

On top 10 on CoinMarketCap, only three entities registered growth for the week. Cardano won the week with an admirable 19.73% jump and consequently joined the top echelons.

Though seven digital currencies couldn’t make any earnings for the seven days period, their declines weren’t that much. Overall, the biggest loss was 4%.

Industry News

Western Union the global giant money transfer company on Thursday announced a partnership with Stellar (XLM) collaborator Thunes to facilitate money transfer straight to mobile wallets all over the world. The company maintains the move is to ensure global financial inclusion for the unbanked.

Rahm Emmanuel, Former White House Chief of Staff under President Obama on Friday stated that Cryptocurrency adoption is imminent. Speaking at a Fintech event, Emmanuel who is the current Mayor of Chicago predicted his city might become a Blockchain hub.

Moreover, the week also saw six international banks announcing their intentions to issue stablecoins backed by the various fiat currencies on the IBM blockchain known as World Wire. In a statement made by IBM and Stellar, they indicated World Wire is live with more than 44 banks on it, with support for 47 currencies in 72 nations.

Top 10 Standings On Monday 7:00 GMT+2

Market leader Bitcoin maintained the $4000 price range from last week but lost 0.19% for the entire week joining Tether to record the least weekly growth rate. At the time of going to press, it was selling for $4027.86.

At number two Smart Contract pioneer Ether dropped 2.33% to close with a price of $137.27. It has been its poor performance for the last fortnight.

XRP kept the 3rd ranking and sold at $0.309050. However, investors in the Bank Transfer Blockchain lost 2.80% of their portfolio.

Silver of Bitcoin, Litecoin also recorded a casualty as well with a negative 1.48% growth rate. The selling price was $60.31.

In the same vein, EOS was on the losing block, throwing away 2.65 percentage point to sell at $3.68. In the past few weeks, it has been battling with Litecoin over the 4th position.

At the 6th spot, Bitcoin Cash increased its value to sell at $166.40. The Bitcoin Hard Fork’s weekly growth was 3.01%.

Binance continues to leverage its transition from centralised to decentralised exchange to increase its value. The Exchange token registered a gain of 7.35 and a price of $16.95 to secure the 7th position.

Stablecoin Tether is 8th and was down 0.19% cumulating in a price of $1.01.

Stellar is sitting at the last but one spot on top10 and filed the biggest decline of 4% for the seven days under review. The Micro-finance Blockchain had a price of $0.105514.

Cardano is back to top 10 with an impressive performance that ensured Tron being dislodged from the 10th rank. It seems an exciting week for Cardano hodlers since it soared 19.73% to sell at $0.060500.

Honourable Mentions

On top 100, there are some coins that deserve recognition for having an amazing week on the market. These are the figures:

Maximine Coin (92.90%), Ravencoin (90.97%), Kucoin Share (57.25%), Tezos (34.90%), Polymath (41.82) and Ontology (31.58%).

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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