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Weekly Markets Roundup: A Green Week With Bitcoin Making Largest Profit


Weekly Markets Roundup: A Green Week With Bitcoin Making Largest Profit


Bitcoin ended last week in style when it surpassed $9,000 on Sunday morning. By mid-day, it was trading above $9,300.

More importantly, all the top coins were in the green zone. With the exception of Binance and Tether, All top 10 Coins posted double-digit winnings at midnight on Sunday.

Bitcoin finally overcame the sideways trend in the $7,500 to $8,000 Zone. It is a week that holders will cherish for some time.

The market capitalisation of the entire ecosystem at the end of the week rose to $284 billion with Bitcoin total value hitting $163 billion. The first Cryptocurrency now commands a market dominance of 57%.

Last Week In The Press

Binance, the world’s biggest crypto exchange by volume, is set to launch a US subsidiary. On Thursday, the Malta-based firm announced it is establishing Binance US, a new trading platform to target US customers in cooperation with BAM Trading Services.

Square Crypto last week surprised the Crypto community by hiring Silicon Valley angel investor and Google Alumni Steve Lee aka Moneyball. Prior to that, many have seen the company as only existing on Social Media.

Iceland’s financial regulator, the Financial Supervisory Authority (FME), on Friday approved the first Blockchain enabled e-money company in the Scandinavian country. Monerium, in partnership with ConsenSys, will provide fiat payment using the Ethereum Blockchain.

More so, the news was full of details of Facebook’s plan to introduce a new Crypto called Libra targetting the 1.7 billion unbanked people around the globe. The Social Media giant is reported to have fixed June 18 as the testnet launch date.

Top 10 Markets Updates At Midnight On Sunday GMT+4

Bitcoin had a remarkable week closing with 18.63% profits for its holders. After a horizontal channel spree the whole week, it finally posted a price of $9,116.23 to become the highest gainer on top 10 for the week.

Meanwhile, Litecoin extended its bullish trend for the past month and posted a 17. 77%. At the time of going to press, it was selling at $136.16.

Embattled Craig Wright’s creation Bitcoin SV was also impressive as it recorded a 15.61% weekly gains. The Bitcoin Cash fork traded for $213.20.

With a 15.20 percentage points upsurge, the second most valuable Crypto in terms of Market cap, Ethereum was the 4th highest gainer for the week. Its price was $270.25.

EOS earned its community 14.21% to sell at $7.05. The Dapp platform’s market performance this review is a notable departure from the previous week’s lacklustre 19.48% downward trend.

The 6th top 10 growth rate came from the stable of Bitcoin Cash. The weekly upsurge was 12.65%, with a price of $428.78.

XRP sprang 10.55% and was for sale at the rate of $0.429380. The bank transfer Blockchain made an incredible deal of $50 million with MoneyGram last week to use the Blockchain for remittances.

Sitting at the bottom of the top 10, XLM went up by 8.10% last week. Most exchanges were selling it at $0.129472.

Binance picked the last but one earnings of the week of 5.84%. The exchange coin sold at $32.55.

Least earner among the top echelons was scandal-prone Tether. It heaped 0.25% and traded at a dollar.

Until next week, Keep hodling and enjoy the bumper harvest!

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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