Check out last week’s digest on crypto market changes, top 3 cryptocurrencies stats and the most notable cryptocurrency news.
Security breach at Binance, IEO of Bitfinex, Fidelity’s new crypto service and crypto market’s bullish trend are last week’s hot topics. Hope you find our digest helpful and as usual – happy crypto trading!
Cryptocurrency Market Stats
Crypto market capitalization passed the $200 billion mark due to Bitcoin’s 20% increase mostly.
|Stat||Value (7d change)|
|Market Cap||$218 422 037 719 (+20.73%)|
|Markets||18 265 (+0.54%)|
|Cryptocurrencies||2 169 (+0.93%)|
|BTC Dominance||59.0% (+5.92%)|
Major Coins’ Price Stats
All major coins had a bullish week, however XRP’s gains are insignificant compared to Bitcoin and Ethereum.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||6 972.37||+20.30%||7 503.87||5 653.69|
Quote of the Week:
Changpeng Zhao, CEO of Binance, after the controversy around consideration of blockchain re-org due to the hack: “Given how much I talk, I sometimes say the wrong stuff, dirty words like ‘reorg’, for which I apologize. It is my strong view that our constant and transparent communication is what sets us apart from the “old way of doing things”, even and especially in tough times.”
In Case You Missed It:
- One of the leading cryptocurrency exchanges Binance was hacked on May 7 for 7 000 BTC (about $40 million at the time of the hack). As Binance reported, hackers obtained a large number of API keys and 2FA codes by using various techniques like phishing, viruses and other. It allowed them to withdraw the mentioned number of BTC in single transaction. The hack impacted exchange’s BTC hot wallet which contained 2% of Binance’s total BTC holdings.
- Another major crypto exchange Bitfinex released a whitepaper on May 8. This whitepaper describes the exchange’s own initial exchange offering (IEO) of LEO tokens. Each token worth 1 USDT and iFinex (the company behind Bitfinex and Tether) plans to raise up to $1 billion. LEO is described as “a utility token at the heart of the iFinex ecosystem” and can be used for various benefits on Bitfinex.
- One of the largest asset managers in the world Fidelity Investments will buy and sell Bitcoin for institutional customers, as Bloomberg reported. The firm created Fidelity Digital Assets in October to offer new services associated with cryptocurrencies. Fidelity has launched a Bitcoin custody service earlier this year and will offer over-the-counter trading within a few weeks.