This Week in Crypto – November 2nd, 2018
Here is your weekly round-up of the biggest and most interesting news pieces from the last seven days.
Bitcoin’s price was about $6,484 a week ago. It bottomed out at about $6,318 before closing the week at about $6,390 at the time of this writing.
While in pure dollar terms this may not seem a lot for bitcoin, but for cryptocurrencies overall, the entire market week started off worth about $209 billion, and it continued its slow slide throughout the week and closed off a neat $2 billion lower at about $207 billion. It hasn’t even been a year since the all-time-highs of late 2017 but what a ride it’s been!
Gainers and Losers
Here are some of the biggest gainers and losers of last week:
- Coupecoin (COUPE) is a place for everyone who wants to simply buy and sell Altcoins. It allows you to deposit funds, provides instant buy/sell orders, and has a user base several thousand strong – but it isn’t clear how many “several thousand” is. In any case, COUPE appreciated almost 500% over the last week!
- Bitcoin Incognito (XBI) is an environmentally-friendly version of Bitcoin. By using Proof-of-Stake with Masternodes, users are able to mint coins without using any more energy than a personal computer, with Masternodes making for fast, secure transactions. It appreciated over 325% over the last week.
- Quantis Network (QUAN) (different from Quant (QNT), which was a featured leading gainer last week), is a new cryptocurrency focused on privacy. They’ve designed an open-source digital currency free to anyone who wants to mine it. Quan appreciated by over 230% over the course of the last week.
- RusGas (RGS) was the week’s biggest loser, losing 84% of its value of the last seven days, even though it is a very interesting project. It is aimed at funding and executing research in natural gas production, processing, storage, and transportation, and it hopes to transform the gas industry, to bring technologies up to a new level, to improve the environmental friendliness of gas production, and to enable everyone to gain income from production resources without borders and politics. They have my blessing, at least for their vision!
Adoption and Industry News
What’s a week in crypto without a little dark-side activity to write about?
- According to this report, North Korea allegedly backed two scam crypto projects. The two projects, which issued coins called “Interstellar” (not to be confused with XLM, the Stellar coin) and “Marine Chain Coin” made headlines after complaints of fraud surfaced on the project websites.
- An Australian woman has been arrested for allegedly stealing 100,000 units of Ripple (XRP) back in January. The case is currently under investigation.
- According to this report, over $3 million in crypto was stolen from players of the highly popular Call of Duty series. Apparently, a ring of cyber thieves threatened other players with the likes of being swatted (a serious prank in which perpetrators have a SWAT team storm the house of a target by giving a malicious yet fictitious ‘tip’ to the SWAT team about illicit activities at the target’s address) if they didn’t cough up a crypto ransom. Authorities in San Francisco are expected to take the lead on this case.
- With the release of the HTC Exodus 1, we finally have the much-hyped, much-anticipated blockchain-focused handset that people have been waiting for, and which you can buy here. This fine-looking piece of hardware is very similar to the Finney Blockchain Smartphone that successfully raised over $150 million last year and can be purchased here. , has perhaps answered the first of those questions; the jury is still out on the second.
- Brazil is pushing the envelope when it comes to crypto legislation and has drafted what is the country’s first draft of cryptocurrency tax rules. While taxes are rarely welcomed by the general public, better transparency – and clearer rules – may help the crypto market in the longer run.
- On the topic of rules, the SEC has crypto scams in its sights, and they are one of the commission’s top enforcement priorities. Investors can hopefully breathe a little easier knowing that scams will hopefully find it harder to defraud unsuspecting users in the future.
- Finally, Bancor is brining crypto to Kenya’s poor. Residents of impoverished neighborhoods in Nairobi have recently started accepting cryptocurrency for purchases. This was part of an initiative by Bancor – which used its Bancor Wallet for the execution of currency swapping – to digitize community currencies that were already in use in such neighborhoods. Here’s one success metric for the project: 20% of educational fees are said to be paid for in digital currency, meaning there is a lot of potential — and end-user acceptance — for digital technologies and crypto solutions.
Last but not least, here are a few ICOs worth looking into over the weekend. While we review promising ICOs every Monday in our “ICOs to watch” series (you can read Monday’s reviews here), here are two more that different investors may find interesting.
- Liquid8 (LQ8): Liquid8 aspires to be the next-generation financial services platform that will help bridge the gap between real world assets and the emerging digital economy with the utilization of blockchain technology and smart contracts. Liquid8 will offers a complete off-chain and on-chain tokenization protocol to put the world’s assets on blockchain securely and seamlessly. The tokenized asset can then be exchanged and loaned between community members via Liquid8’s multi-asset wallet. Liquid8’s multi-asset wallet will be connected to the multi functional platform, making it an one stop solution for storing and managing crypto assets and tokenized assets, as well as a gateway to obtain financial services and products within your fingertip.
The Liquid8 token sale ends November 7.
- ASQ Protocol (ASQT): The ASQ Protocol is a decentralized solution for publishing, storing, sharing, and monetizing digital content. The project envisions a new economy for content creation as well as a monetization model that favors creators instead of middlemen. The platform will allow creators to own the content they build, reach broader audiences, and receive fair and transparent remuneration for the content produced.
With the growth of the freelancing and gig economies, ASQ certainly has a large market to target, and the combination of blockchain to a rising economy can hold promise if executed properly.
The ASQ Protocol token sale officially ends November 14, but you need to visit the project site to be whitelisted before you can participate in the sale.