Altcoins This Week: Cardano Boss Bullish, Tether’s Reserves Apparently Verified Confirmed And More

Altcoins This Week: Cardano Boss Bullish, Tether’s Reserves Apparently Verified Confirmed And More
Subscribe: http://bit.ly/CryptoCoinNewsYT

Cardano Tweet Gives Hope to Battered Hodlers

After a painful few weeks for Altcoins, a tweet from one of the founders of Cardano gave a much needed boost to morale this week. Charles Hoskinson, who was also one of the founders of Ethereum, tweeted that “after the next wave of regulation, wall street is showing up to the party with all their locked up capital.” Hoskinson promised that tens of trillions of dollars will enter the crypto space eventually.

Akon To Launch Own Currency For His Own Mini-State

It’s not every day that the leader of a country gives you 2000 acres of land, so it is perhaps understandable that American rapper, Akon, was very excited by the gift from the President of Senegal. Akon, who is of Senegalese descent, promptly announced that the land, which he calls Akon Crypto City, would exclusively use the Akoin, a new crypto that he will launch within the next two weeks.

Tether’s Reserves Apparently Confirmed

There was a reprieve of sorts this week for supporters of Tether, after a difficult half year in which the US Dollar-pegged digital currency has been suspected of playing a large part in alleged Bitcoin price manipulation. A law firm co-founded by a former Director General of the FBI has had, according to Tether and Bitfinax Chief Counsel Stuart Hoegner, access to accounts which confirm that a dollar is held in reserve for every Tether coin minted, as has been claimed by Tether since its inception.

EOS Orders Block Producers to Freeze 27 Accounts

EOS has ordered its Block Producers to freeze transactions involving 27 accounts, but has not, so far, given any reason for the decision. The order was issued by ECAF Interim Emergency Arbitrator, Sam Sapoznick on a private Telegram group, but was later leaked on Twitter.

Price Analysis: Another Bad Week For Altcoins

Ether showed signs of recovery in the early part of this week, climbing from $494 on Monday to $540 by Wednesday. But the upturn was short-lived, with sub-$500 prices returning on Friday and a further low of $429 on Sunday. Ripple followed a similar path, opening at just above $0.50 and maintaining its price before sliding to $0.48 on Friday and then $0.45 on Sunday. After opening at $850, Bitcoin Cash exchanged for over $910 by Tuesday and looked steady until it too crashed at the weekend, first to $750 on Friday and then to $680 on Sunday. EOS saw 30% of its value wiped out between Monday and Sunday, starting the week at $10.50 $7.23 by Sunday. Litecoin fared no better, opening at $95 and moving towards the $100 mark before crashing to $75 by Sunday.

More security concerns following the hacking of Bithumb and the news at the weekend that Japanese regulators had posted improvement orders to six exchanges suspected of leaky security protocols.

Altcoins This Week: Cardano Boss Bullish, Tether’s Reserves Apparently Verified Confirmed And More

Related Post:

About The Author

Kane Dane