The total market cap of Cryptocurrencies jumped from $142 billion last week to $146 billion this week. It is very stimulating the market is recovering, albeit somehow moderately.

Tuesday went down as a gloomy day when a scary bloodbath dominated the markets culminating in a loss of over $4 billion in market capitalisation. But it leapt back vigorously on Wednesday to add more than $5 billion to its value.

Similarly, Bitcoin price slumped to the $3900 territory prompting fear it might not be able to sustain the $4000 range and scale. Nevertheless, it rebounded and went ahead to the rate that was perceived as the resistance point.

Moreover, the week was not devoid of drama either when EOS and Litecoin renewed their hostility over the supremacy of the 4th most expensive cryptocurrency title. The former sprung almost 15% to push the latter to reoccupy the position again.

Industry News

Almost everyone in the Crypto community was anticipating a triumphant end to the struggle for digital currency to prevail in India to come to an end, but alack, it was a dream deferred. The Apex court of India which directed the government to present a policy framework to regulate the industry decided to adjourned the petition to July.

Ironically, next door in Pakistan, the government announced plans to regulate cryptocurrencies per recommendations of the Financial Action Task Force. Just like its neighbours, the South East Asian nation’s Central Bank had forbidden banks from dealing with virtual currency outfits.

Justin Sun, CEO of Tron aroused controversy yet again. This time around, he promised to giveaway a Tesla car to one of his followers who retweets his tweets, but the competition ended in parody.

Top 10 Standings On Monday 7:00 GMT+2

Credit: CoinMarketCap

 

At press time on Monday morning, Satoshi Nakamoto’s brainchild was in a bullish element selling at $4,154.02. More so, it improved from last week’s deterioration of 0.19% to 4.61% profit which was the sixth biggest gainer of the week on top.

Second-placed ETH posted 4.97% in the seven days under evaluation. It had a price of $141.62.

XRP was also among the winning squad, and its selling price was $0.313029. The transfers Blockchain titan bloated 2.97% in value.

At the 4th spot, EOS keeps dazzling and making its hodlers richer. With an impressive 14.71% fullness rate, the decentralised application closed the week with a price of $4.20.

Litecoin is yet to recuperate from the beatings it received from EOS to get dislodged from the 4th rank. It registered the least gains of the week by 1.78% and a price of $60.50.

BCH raised its previous earnings of 3.01% to 4.30 percentage points. Roger Ver’s invention could be bought at a market price of $167.38.

It was a slight increment of an upward adjustment for Binance. It was up 7.49% as against last week’s 7.35% and an accompanying purchasing rate of $17.83.

Stellar captured the 8th position from Tether, selling at $0.109289 and germinating 6.28%. The amends it has made is commendable since it recorded the most significant loss at the last review.

The only throw away came from the camp of Tether. With a Falling rate of 0.45%, the controversial coin managed a price of $1.

Cardano seems unstoppable clinching a second successive week of incredible growth rate. Last week it ballooned over 19% only to better it to 22.41% this time around. The first blockchain platform to evolve out of a scientific philosophy had a price of $0.072389.

Honourable Mentions

Some coins below the top 10 made notable accruals and must be acknowledged. They include TTC Protocol (115.67%), Aion (60.27%), Enigma (59.77%), Insight Chain (56.64%), Tezos (49.59% ), Maximine (48.52%).