Weekly Summary of Crypto News

The bear market in cryptocurrencies continues unabated with the market cap dropping below $100 billion for a short time earlier this week.

Tuesday saw a bit of a decent rally with the price breaking past the 10 day moving average for the first time in over a month showing at $3800 on Coinmarketcap. At the time of writing the market cap has appreciated by $20 billion to just over $120 billion. Alt coins have posted gains for two consecutive days reducing BTC dominance from 55% to 53.8%

Some news from the past week ……..

Coinbase is rolling out ‘crypto to crypto’ trade options for retail customers. Article

Bloomberg reports that some bank statements made available to them indicates that Tether Inc. may well have the funds to back their stable coin USDT (Tether) Article

Famous venture capital investor and bitcoin enthusiast Tim Draper has invested in bitcoin merchant payment processor OpenNode, the company announced on Tuesday, as it concluded its seed round. The investment from Draper and his Draper Associates, a seed-stage venture capital firm, totaled USD 1.25 million, according to multiple media reports. Article

Blockchain technology firm Blockstream announced that they have expanded their satellite service to cover the Asia-Pacific region, as well as adding support for Lightning Network transactions. Their Blockstream Satellite lets users transfer bitcoins through leased satellites, bringing the nascent technology closer to those who might otherwise be impeded in accessing it. Article