In the traditional Sunday review ForkLog summarize another difficult time for the cryptocurrency industry weeks. A new decline of markets, the problems in the exchanges and well-known projects, and other events of the past seven days.
The price of bitcoin
Last Sunday the first cryptocurrency was trading around $3600, but on Monday morning, its rate went down sharply, dropping Tuesday to $3420 — a new low since 18 December last year.
In the future, there have been several unsuccessful attempts to recover, but the biggest success in this direction was the short-term, the break of the $3500 in the night from Saturday to Sunday.
At the time of publication, bitcoin is trading around $3475, losing so 7 days more than 3%. Unlikely to please investors and the General picture over the last month:
Also in the red for the week were almost all the other leading assets, although there are rare exceptions. So, almost 3% have grown Litecoin, a new stage of development which this year should be the introduction of technologies confidential transactions. Also in positive territory was the coin of the Waves, adding to the background of the launch of the updated smart contracts in the Microsoft Azure cloud.
Krausel BitTorrent — $7.2 million for 18 seconds and technical problems
Monday, January 28, at the venue of the ICO Binance Launchpad hosted awaited eagerly by many investors krausel BitTorrent. Accompanied by the increased excitement and technical challenges process was completed in less than 18 minutes, and it was sold to 59.4 billion tokens BTT (about $7.2 million).
Krausel BTT started at 15:00 UTC, and was held in two parallel sessions: one of them, the participants were able to purchase tokens for the cryptocurrency TRON (TRX), and secondly for tokens BNB.
BNB-session 13 minutes and 25 seconds sold from 23.76 billion tokens BTT, TRON session lasted 14 minutes and 41 seconds, and was implemented of 35.64 billion BTT. During the campaign one token BTT sold for 0.00001824 BNB or 0.00447261 TRX.
At the same time in the campaign was attended by less than thousands of investors – the platform does not cope with the large influx of visitors.
Will certainly be interesting to see how will the fate of this token, but already managed to acquire investors in the loser left: BTT auction was launched on 1 February at the rate of four times higher than the price of tocancel. And at the end of the week after a bit of a token drawdown continued to increase – in the last 24 hours, its price has risen more than 35%.
Bitcoin ETF Cboe has submitted a repeated application
Chicago Board options exchange (Cboe) re-applied to the Commission on securities and exchange Commission a proposal to amend the existing rule that, if approved, will allow it to run linked to bitcoin exchange-traded Fund (ETF) on behalf of the companies VanEck and SolidX.
The previous application was withdrawn earlier in January. As explained later VanEck CEO Jan van Eyck, a direct impact on the course of consideration of the application was provided by the suspension of us government agencies in connection with the delay in the adoption of the national budget at the end of December 2018.
The countdown for the new ticket, however, has not gone – it will start after the document is published in the Federal register of the United States. From this point the SEC with all statutory delay in the decision may be reserved 240 days.
NEM Foundation is waiting for the restructuring
Earlier this week information, NEM Foundation, sponsored by community non-profit organization for the promotion of the NEM blockchain, is planning a large-scale downsizing, which currently employs 150 people.
The new leadership of the organization to new President Alex Tinman denies speculation about bankruptcy, insisting that we are talking about the restructuring of the NEM Foundation, however, has confirmed that plans to invest in the public Fund NEM request token XEM 160 million (about $7.5 million).
The organization also intends to significantly reduce the cost of marketing, focusing instead on the actual product development.
QuadrigaCX, Liqui, CoinPulse – exit have benches or something?
Kryptonim seriously affected the work of several exchanges. This week canadian exchange QuadrigaCX went to the “technical work” on the background of rumors about bankruptcy (she later said that can not access the wallets with the funds of users for $190 million), another bitcoin exchange, CoinPulse, announced his departure on the “perpetual maintenance” due to issues with liquidity, and the Ukrainian cryptopleura Liqui — and at about the termination of activity because of similar problems.
“Unfortunately, we can no longer provide liquidity to the remaining users. Also we do not see economic sense in providing our services,” said the latter.
A new special ForkLog
This week on ForkLog was released created together with a team FairPlay special “Fear and loathing in the registry: blockchain in the industry of online casino” is an illustrated, longed about the problem of cheating in online casino and the blockchain as a solution. For the game, we also made a cheat sheet that will help to recognize unscrupulous gambling establishment.
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