Well let’s take a little look back at the cryptocurrency market this week. The cryptocurrency market has been rather quiet, hovering around the $210 billion level this week. Bitcoin dropped under $6,500 yesterday. So let’s take a little look.
This week we saw Bitcoin stuck under the $6,500 level. On Monday and Wednesday we saw it surpass this level, but it could not maintain this momentum as it continued to struggle this week. Today it remains under $6,500.
Yesterday Dogecoin experienced the biggest losses out of the top 30, but today we saw it climb back into the green. This small boost came after Coindroids announced that they will be supporting Dogecoin ./
Coindroids describes itself as a completely skill-based game. Winners can apparently win cryptocurrencies from playing with their own crypto. Today Dodgecoin was back in the green, but on Thursday dodgecoin experienced losses of more than 5%. Dogecoin has been on a dramatic downward trend since September. We saw Dogecoin surge in September due to a couple of factors. Many dogecoins fans a blockchain bridge between Dogecoin and Ethereum. Developers are apparently working on a smart contract ‘bridge’ that will facilitate the transfer of Dogecoin to and from the Ethereum blockchain. Its listing on the Yahoo Finance iOS trading app also gave it a boost. And Cryptocurrency exchange Poloniex added dogecoin and four other USDT trading pairs.
Dogecoin is currently in 25th place in terms of marketcap.
Now let’s take a quick look at some other crypto news. Japan’s Financial Services Agency this week gave the cryptocurrency industry the self-regulatory status. This gives legal power to the Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations. Thanks for watching and have a nice weekend.