DeutschThe Crypto Update for Week 51: Featuring Bitcoin, Ethereum, Tezos, and other important events that have influenced prices and the market:
Tezos in Focus
The crypto week wasn’t really spectacular when you take a look at the price trends. While Bitcoin moved in the range between 7100 and 7600 USD, the majority of altcoins adapted. An exception here was the Tezos coin (XTZ). With a price increase of over 25 percent, Tezos made the leap into the top 10. And there were good reasons for that. The crypto exchange Kraken has been offering Tezos staking to its users since December 13th. Users who store their Tezos on the exchange can now earn rewards. The annual return is stated at 6 percent. Kraken is thus following Coinbase and Binance, which had also implemented Tezos staking. The trend is towards staking and Proof-of-Stake rewards are becoming increasingly popular on the major exchanges.
Crypto Update: Bitcoin Moving Sideways
The Bitcoin chart behaved calmly in the past 7 days and fluctuated within a manageable range. At the end of the week, the price is at a value of 7129.54 USD. This value implies a weekly price loss of approximately 500 USD, a manageable amount in the volatile crypto market. The market capitalization is at a value of approximately 128 billion USD. Almost two-thirds of the total market capitalization comes from BTC investments. This corresponds to a BTC dominance index of approximately 66.5 percent. A significant picture for the year 2019. While most investors focus on Bitcoin, most altcoins suffer in the background.
Ethereum Struggling
The Bitcoin dominance can be seen in the Ethereum price. Also this week, the No.1 altcoin followed Bitcoin virtually every step of the way. ETH is losing more and more ground on the important 150 USD mark. Currently, the price is quoted at a value of approximately 140 USD. Overall, this means a price loss of over 90 percent in relation to the all-time high from January 2018. The coming year could turn out to be groundbreaking. With “Ethereum 2.0” an important update is planned. The focus is on the change from Proof of Work to Proof of Stake and scalability.
Crypto Update: more News from the Cryptospace
While the price trends have been calm in the past seven days, new news has caused more excitement. For example, the US-IRS introduced a new form that requires more information from Bitcoin owners. Legislators from around the world continue to work on regulations and definitions for cryptocurrencies. Most recently, Ukraine showed itself to be more open to this topic. Further reports came from China. Approximately 66 percent of the total Bitcoin Hash Rate now comes from the People’s Republic. This value comes from a Reuters report. MATIC also caused excitement after the company summarily destroyed 70 percent of its own coin holdings. The price reacted promptly with an enormous pump, which was equalized by an even stronger downward trend. The MATIC coin is currently ranked 93rd in the crypto charts.
Total Market Capitalization Continues to Fall
The total market capitalization fell further below the important 200 billion USD mark this week. Currently, it is at approximately 194 billion. It seems as if many investors are withdrawing their money from the market. No unusual behavior towards the end of the year.
After the crypto update: Even more crypto news
