Check out last week’s digest on crypto market changes, top 3 cryptocurrencies stats, top gainers and losers and the most notable cryptocurrency news.

Private beta testing of Telegram Open Network Blockchain, independent audit of TrueUSD (TUSD) and removing of the minimum required equity on Bitfinex exchange are last week’s hot topics. Hope you find our digest helpful and as usual – happy crypto trading!

Cryptocurrency market stats

Crypto market lost about 3% of its capitalization during last week.

StatValue (7d change)
Market Cap$175 551 755 944 (-3.14%)
Markets17 821 (+2.34%)
Cryptocurrencies2 171 (+0.65%)
BTC Dominance51.9% (+1.96%)

Major coins price stats

Last week was bearish for major cryptocurrencies, especially for XRP (lost more than 8%) and ETH (almost 4%).

 Coin Close 7d Gains 7d High 7d Low
 Bitcoin5 167.72-0.6%5 421.654 955.85
 XRP0.328809-8.63%0.3670360.321167
 Ethereum167.84-3.83%184.38161.03

Quote of the week:

David Tawil, president of crypto hedge fund ProChain Capital, for Bloomberg: “It’s nice to see a positive move as opposed to a negative move, certainly. But at the same time, for investor purposes, it’s not a particularly comforting move. Certainly, an investor would much rather see a gradual rise with constant floors in terms of downside being established, as opposed to a very, very quick run-up. It could easily be easy come, easy go.”

In case you missed it:

  • Telegram has launched a closed testing of its blockchain. A limited number of dev teams got an access to Telegram Open Network (TON) Blockchain. Despite the fact that testing has not provided any specific outcomes yet, few anonymous testers revealed that the Telegram’s Blockchain has shown an “extremely high transaction speed.”
  • TrustToken has published a blog post with the results of an independent audit of the bank accounts holding the collateral for TrueUSD (TUSD). The accounts were examined by accounting firm Cohen & Company. Reportedly, balance of escrow accounts is $199,063,885, while the balance of TUSD tokens issued and in circulation is 198,982,291 TUSD, meaning that TrueUSD is fully backed by U.S. dollars.
  • Bitfinex, a Hong Kong-based cryptocurrency exchange, has removed its $10,000 minimum equity requirement. As stated, this update is a response to “overwhelming demand over the past six months from a wide variety of traders”.