Weekly Markets Roundup: Bitcoin Satoshi Vision Invaded Top 10 In A Dramatic Style
It was a week marked with stability. Bitcoin price swung between $8400 to $8700. Only Binance and Tether dipped in value over the week, which means eight coins made profits.
Bitcoin Satoshi Vision jumped into the top 10, taking everyone by surprise when it expanded 85% on Sunday to occupy the 8th rank.
Cardano couldn’t put up with the stiff competition from BSV, and it was sent packing out of the elite rank. In a similar circumstance, stellar lost its 8th position and at press time at Midnight on Sunday, ending at the bottom of top 10.
The market cap of all Cryptocurrencies at the end of the week was almost $275 Billion, representing a gain of over $2 billion over last week’s $272 billion valuation.
Last Week In The Press
Kik, the Canadian freeware instant messaging mobile app firm kicked off a campaign to challenge the US Securities and Exchange Commission. The company launched a $5 million crypto campaign initiative to prepare a lawsuit against the SEC on Wednesday.
As another indication of Blockchain’s growing acceptance, Insurance companies State Farm and USAA announced on Thursday that they are testing how blockchain technology can improve the speed of the auto claims subrogation process. It could replace the current time-consuming, manual process that requires physical cheques to be mailed to claimants.
On Thursday, Coinbase began support for EOS on desktop, Android and iOS apps. Users of the platform can now buy, sell, convert, send, receive, and store EOS.
Japanese Legislators on Friday officially approved a new bill to amend laws governing crypto regulation. The act was prepared by the country’s Financial Services Agency (FSA) and endorsed by the House in March.
On Wednesday, Digital Assets custodian services company Anchorage introduced insurance coverage for storing digital assets. The insurance plan stems from a partnership with influential insurance broker Aon.
Top 10 Standings At Midnight On Sunday GMT+4
Controversial Bitcoin Satoshi Vision invaded top 10 in style to become the 8th most valuable cryptocurrency. The BCH fork at the end of the week sprung 79.04% to sell at $189.68.
EOS was the 2nd most appreciated coin for the past seven days. The Dapp platform sold for $7.65 while it was up 14.77%, which almost 5% improvement from last week.
Still, the 3rd most expensive Cryptocurrency, XRP’s price for the period was $0.439789. It grew 10.41%, adding to last week’s gain of 2.37%
The 4th highest growth rate came from Litecoin with another credit of conquering the 5th rank from EOS. It grew by 6.55%, and its price was $113.72.
BCH chalked up a gain of 4.97 percentage point to close the week with a price of $441.12, a slight dip from its previous week earnings of 5.66.
Stellar depreciated 2.97 last week but made it up for it this week. It was up 4.19%, exchanging at $0.135422.
Bitcoin surged 3.35%, ending the week with a market price of $8,691.66. It was a far cry from last week’s pump of 10.03 to decline for two consecutive weeks from its last three weeks additions.
Ethereum rose 3.10% to cut off half of its gain from the ratings. The price listed on the exchanges at the time of filing this report – $268.40.
Binance, the exchange token, recorded the most substantial loss of for the last seven days, declining 2.97%, selling at $33.13. Questionable Tether was on the losing block as well and sank 0.40% with a $1 selling rate.
It was not a bad week at all. Until next week, enjoy your profits and hodl tight.