Hi there! Let’s check out TradeSanta’s weekly digest. Top news of the past week in cryptocurrency and blockchain industries were collected right here:
- FCA offered to ban cryptocurrencies;
- Cuba plans to use digital assets in order to skirt US sanctions;
- Cybersecurity provider Kaspersky Lab: only 1 out of 10 of respondents knows the way cryptocurrencies work.
Cryptocurrency Market Stats
Total market capitalization of all cryptocurrency assets went up to 328 billion USD. Check the last week’s results in the table below.
|Stat||Value (7d change)|
|Market Cap||$ 328 994 581 173 (+0.85%)|
|Markets||19 149 (+0.22%)|
|Cryptocurrencies||2 320 (+1.04%)|
|BTC Dominance||62.7% (+1.3%)|
Major Coins’ Price Stats
According to the CoinMarketCap data, cryptocurrencies boosted during the last week. So, check out the results for BTC, XRP and ETH right here.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||$11 450.85||+5.85%||$12 006.08||$9 737.88|
Quote of the Week:
Cole Diamond, CEO of Coinsquare, plans to use ATM network to boost mainstream cryptocurrency adoption: “Right now, there is a lack of mainstream cryptocurrency adoption because most people are intimidated by the process to acquire it. By using the millions of existing ATMs around the world, we can now bridge the gap. Bitcoin is new and unfamiliar to many, but ATMs are not.”
In Case You Missed It:
- According to The Guardian, the UK’s Financial Conduct Authority offered to ban financial instruments which use digital cryptocurrencies. FCA warned that such products could bring huge losses for retail consumers, and added that cryptocurrency assets are “ill-suited” to small investors: they can suffer from sudden and unexpected losses if they invest in these products”. In addition, FCA mentioned that this ban would benefit consumers to the tune of between £75m and £234.3m per year.
- Reuters reported that Cuba plans to skirt US sanctions using cryptocurrencies. Cuba president, Diaz-Canel, said that they would raise money to pay for these reforms. Economy minister Alejandro Gil Fernandez mentioned that they are studying the potential use of cryptocurrencies, collaborating with economists.
- According to a survey conducted by a multinational cybersecurity and anti-virus provider Kaspersky Lab, only 10% of people know the way cryptocurrencies work, also, 19% of the participants hodl them. Approximately 45% of respondents have heard about digital assets, and 18% admitted that they have stopped using cryptocurrencies as it was too complicated for them. This opinion poll was carried out between October and November 2018, 13,434 respondents from 22 countries participated in it.
That’s all for now. We hope that our digest is helpful. Don’t forget to subscribe and stay tuned for more blogposts from TradeSanta team!