It’s time to check out TradeSanta’s digest. The biggest stories of the past week in cryptocurrency industry are right here:
- Cryptocurrency is not “crypto” states the Associated Press Stylebook;
- Japan has tightened rules for cryptocurrency storage;
- BitMEX Ventures invested in cryptocurrency exchange PDAX.
Cryptocurrency Market Stats
The total capitalization of all cryptocurrency assets in circulation soared by $274 billion by the end of the previous week, so, let’s take a look at the crypto market statistics.
|Stat||Value (7d change)|
|Market Cap||274 922 131 892 (+1.17%)|
|Markets||18 659 (-0.23%)|
|BTC Dominance||55.9% (-1.6%)|
Major Coins’ Price Stats
Let’s take a look at the Coinmarketcap data, Bitcoin (BTC) had a drawdown, but it recovered by the end of the previous week, alas, XRP soared over the last week but Ethereum (ETH) slid down and suffered loss. Check results of the previous week right in our table.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||$8 742,96||+0.80%||$9 008,31||$8 172,55|
Quote of the Week:
David Chaum, E-cash inventor: “In the modern world, the real killer app is clearly messaging integrated with payments with popular applications in the same namespace — like WeChat in China, and what Facebook is turning into. […] It’s WeChat with blockchain inside.”
In Case You Missed It:
- The AP Stylebook, English grammar style and usage guide, has issued a guideline where we can see that crypto is not a cryptocurrency: ”Avoid using the shorthand crypto, which can be confused with cryptography. Cryptocurrency is not the same as virtual currency, which is used in virtual worlds such as online games.” Cryptocurrency community expressed excitement at the ruling as it signals that cryptocurrencies has become mainstream enough for the popular Stylebook to highlight it.
- According to Coindesk, Japan has changed its laws, providing more clarity and strengthening control over cryptocurrencies. It was officially published on May 31. It will take effect in April 2020. According to the new law, the definition “virtual currency” was changed. So, we can see “cryptographic assets” instead of it. Moreover, every company which stores cryptocurrencies, will be called a “cryptographic asset exchange”. They will have to register and pay for a license.
- BitMEX Ventures has invested in a Philippines-based cryptocurrency exchange called PDAX. Not so long ago PDAX team announced collaboration with BitMEX in its Medium blog. According to PDAX, it is a full regulated centralized cryptocurrency exchange approved by the central bank of the country. This platform is currently operating in test mode, but soon it plans to show its users full range of available services on their platform for “all kinds of digital investment products and securities”.
We hope that our digest will be helpful for you. We wish you good luck in crypto trading!