📘 Weekly report: crypto/blockchain (July 23- July 29, 2018). Highlights

icotelegraph (60)in #bitcoin • 6 years ago (edited)

Good afternoon (evening). This week comes to an end. During this time the crypto-currency market took one more step on the way to its further development. Let's take a closer look at what exactly happened during this time, and also consider future events.

Go to any post that was published this week - use this Calendar.

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Markets and prices

Despite the flow of distrurbing news, we see that Bitcoin's price formation mechanism is crystallizing, and acquire a stable dynamic, making a jump between $7,600 and $8,000. If this rate is maintained, the next week gives hope to test $8500, and then $9000. At the same time, with the analysis of the whole view, we're sure to test the dump and reverse rollback to previous Bitcoin's values, if the gained price levels won't be supported.

Total results: BTC increased nearly 9% during this week, Coin market is up to 5%.

Bitcoin dominance is now about 47%, resistance levels for Ethereum are set up between $490-500, and we can see strong support above $450. Most traders are confident that now, even in the conditions of further climbing, we will see a reliable red zone among all markets. All opinions are welcomed.

History

23/7 — Japan is leading in cryptocurrency regualtion [G20 overview]; China to observe the illegal mining; Bittorent + TRON merging fully confirmed.

24/7 — «No Insider Trading» of BCH (Bitcoin Cash) on Coinbase; Binance will enter South Korean market; crypto-to-crypto Trade.io platform opened; completion of beta testing on Waves DEX & hack.

25/7 — SEC postpones decision on Bitcoin ETF; Crypto as «legally acceptable payment method» announcements from India; Coinbase exchange announced new «e-gift» card; alts on the positive change from 0.4% to 9.5%;

26/7 — Winklevoss Twins’ Bitcoin ETF rejected by SEC, new wave of bullish momentum expectations, discussions etc.

27/7 — NASDAQ+Closed-Door Meeting with cryptocurrency as a main subject. Other markets: Venezuela initiative in tying of bolívar and Petro cryptocurrency; European users can now buy EOS currency on Bitpanda. During this period, ETH`s new code is testing before the next hard fork.

28/7 — «Bitcoin Is Mature and Regulated Enough» support from SEC Comissioner; EXX exchange is leading by 24h trading volume; Bithumb is inflating the price of cryptocurrencies; Japan can introduce trading caps.

29/7 — Thai Bond Market Association will implement blockchain technology;

Future

30/7 —TRON: «we will deliver our official virtual machine»; 0x [ZRX] will be listed on on CoinX.pro

31/7 — Bitcoin Warsaw Meetup will take place in Poland; Bitcoin Diamond (BCD): is deploying the Lightning Network; OmiseGO (OMG) will be listed on Bitpanda.

1/8 — Callisto Network (CLO) — launching of new website; The Abyss (ABYSS) will start Airdrop; and also do not miss the VTHO Airdrop for VEN Holders.

2/8 — update of Cardano roadmap; Qtum Meetup will take place in Berlin; IOTA New York Meetup starts this day;

3/8 — Ellaism (ELLA) Hard Fork complete;

4/8 — Blockchain Congress (Hyderabad) continues (August 3-4);

5/8 — Loom’s Blockchain Game Hackathon is Coming to London (August 4-5).

Projects and enterprise

Now we are watching the development of blockchain externally (other big players are also interested in this technology) and internally (that is, the projects are initially based in the environment of blockchain and crypto-currency). It is curious that the share of external development is growing every year, as an interest to the crypto-currency market.

Uber Co-Founder will launch zero-fee crypto trading platform;
Developers can build blockchain solutions by using Toolkit from Google Cloud;
KT Corp [SK Telecom Giant] launches 2,500 Txns/s Commercial Blockchain;

Now, the market of blockchain developement is becoming divided. There are new companies that are ready to invest in technology and the market as a whole. But also, existing projects make a step towards improving their platforms. For example, General Electric (GE) invests in blockchain cybersecurity.

TRON

Among other alts, TRON continues to be loud. In a recent tweet, Justin Sun, TRON (TRX) founder claimed that «Tron is 80 times faster than Ethereum», also noticing that “With 14 years of experience, @BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world!”, telling about his new acquisition.

ETHEREUM

Ethereum developers have already begun to integrate Constantinople's hardfork during the major network upgrade. The previous upgrade (Byzantium) took place in October, and the end date for new solution is also planned for this month. The changes are aimed at improving the network: Constantinople will reduce transaction costs and improve the overall efficiency of the platform.

Summary

Finally, it may be concluded that the world of crypto currency is very wide to overview it at a time. But, important processes are already being deployed. As Michael Novogratz said, the adoption of the crypto can come fully within 5-6 years. Moving away from long-term forecasts, we also note that, despite the fall from the end of 2017, more and more players (including institutional) are ready to explore the blockchain a bit deeper.