This video is a recap for the cryptocurrency market for the week ending January 13, 2018. Highlights:
– The expansion in the overall cryptocurrency market value finally took a breather after a long bull run. The overall market cap dropped from around $820 billion to $720 billion dollars during the week. Part of the reason is that in the beginning of the week, CoinMarketCap decided to remove the Korean markets when calculating the weighted average price of a coin. That move caused an illusion of a correction and actually caused a minor selloff.
– Bitcoin and Ether were going in two opposite directions the past week. Bitcoin dropped by 18% with an 8% decline in average trading volumes. Ether broke the $1,400 dollar mark and reached a new all time high briefly before ending the week just below $1,400 dollars.
– Telegram announced that it will developing its own blockchain platform called the Telegram Open Network or TON for short. It wants to have its own native cryptocurrency, called Gram, to power payments in the app.
– Kodak announced earlier in the week that it, too, was planning an ICO. Kodak is planning to create the KODAKOne platform which will give photographers and agencies greater control in image rights management.
– Japan’s messaging app, Line, is also considering its own cryptocurrency. The company already offers a mobile payment service called Line Pay and has a virtual currency that is used in its social games and to buy content and stickers on its platform.
– Back in September last year, Jamie Dimon, the CEO of JPMorgan stirred up a storm after calling bitcoin a fraud that would eventually blow up. Earlier this week, he said he regrets calling Bitcoin a fraud.
For more on this week’s developments, please visit: https://crushcrypto.com/cc-weekly-january-14-2018/
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Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.
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