What a difference a year makes! If December 2017 was like walking in a winter wonderland, then December 2018 looks set to be more like a waltz through a winter war zone! Let’s have look back over the ups and downs of another characteristically fluid crypto news week…
‘Tis the season to be jolly, right? Well, someone should really tell the cryptocurrency market, as it continues it’s slide into the kind of existential depression usually reserved for first few grey weeks of January. This crypto news week was punctuated by lurching price fluctuations (sharp drops followed optimistic little reprieves) and ended with an aggregated 15% loss across CoinMarketCap’s top 100 coins.
The market wasn’t entirely bereft of winners this crypto news week with gains being recorded for Bitcoin SV (9.99%), Waves (25.75%), Factom (12.75%), and Huobi Token (4.27%) amongst others.
Old Father Time, Bitcoin, was still suffering though, losing 14.82% of its value, with its coin price now hovering around the 3,500 US dollar (USD) mark. Banker’s choice, Ripple will only set you back 30 cents a pop after a 15.77% drop, so will make an ideal stocking filler for the bean counters at Deloitte or the assisted lifers at RBS. However, the real bargain of the Christmas period looks sure to be Ethereum with its lofty tech credentials and rock bottom price (only 92 USD at time of going to press!).
In the States, Wyoming has added another piece of blockchain-friendly legislation to it’s books to compliment those passed in February. The new bill, a product of the “Blockchain Task Force” committee, received a vote of 13-1 for, and allows banks to provide services for blockchain assets.
Across the pond, pressure was building to review the Royal Mint’s decision to pause the development of digitised gold trading in the form of Royal Mint Gold (RMG). The coin, which was set to breathe new life into the 1,100-year old institution’s trading model, was shelved earlier this year amid claims of regulatory timidity on the part of the UK’s FCA.
With crypto regs and prices being about as settled as a stomach full of prematurely quaffed eggnog, it was heartening to see one of the blockchain community’s bastions of calm, Vitalik Buterin, earning an honorary doctorate from the University of Basel on Friday.
“I’m honoured to have received an honorary doctorate from the University of Basel, the oldest university in Switzerland. Switzerland is well known for its innovative blockchain research.”
The award serves as an apt reminder that, whether prices are going up or down, it’s the tech (and the techies) that matter. And the tech is still very much ascendant.