This Week in Cryptocurrency: May 31st, 2019

TWIC 05312019

Despite a pull-back in the last 24 hours, the cryptocurrency market was generally in the green for the week.

Bitcoin gained 4.8% on the week, Ethereum grew 3.64%, XRP gained a hearty 10.5%, and EOS flew up 23%.

A few top 100 coins even saw near triple-digit gains, such as Bitcoin SV (up 88%) and MonaCoin (up 88%). However, these price jumps are speculated to be tied to fake news and pump schemes.

TWIC market

What’s New At CoinCentral?

What Is Aurora (AOA)? | Combining Two Popular Consensus Mechanisms: Even though it’s still early days for the Aurora network, it’s unique consensus mechanism should be enough reason to at least keep an eye on it. This year alone, its price has already risen over 400 percent.

Bitcoin SV (BSV) Doubled This Week, But Don’t Buy into the Hype: Bitcoin SV (BSV) took off on a rocketship this week, rising over 120 percent in price since Sunday.

The Bitcoin Cash Roadmap: A Primer on the Vision for P2P Cash: There are few projects more likely to elicit a robust opinion than Bitcoin Cash (BCH). Despite the drama, contentious hard forks and colorful personalities, the developer teams working on the protocol have made several radical changes to the blockchain over the past 18 months.

Venezuelans Prefer BTC over Petro as Inflation Reaches Alarming Levels: The cataclysmic political situation in Venezuela is driving cryptocurrency adoption as a fast-rising inflation rate devastates the economy. It is currently projected to reach 10 million by the end of 2019 according to the latest IMF economic forecast. Bitcoin is becoming more popular as the Petro crypto flops.

Do Cryptocurrency Trading Pools Have a Future?: Cryptocurrency trading in 2019 has come to a fair long ways from its gun-slinging Wild West days where whales and informal investment pools could push random coins into double-digit percentage gains within a few short hours, sometimes minutes.

Cryptocurrency News of the Week

DoN’T CaLL iT CrYpTo: The AP Stylebook issued a statement that claims that the shorthand “crypto” is too easily confused with cryptography, and it should be avoided when describing cryptocurrency. Although no one is likely to come banging on your door if you keep writing or saying “crypto”, it’s good to have formal guidelines to help people distinguish between cryptocurrency and cryptography.

Hacked BTC Surpasses Satoshi’s Wallet: Data by Chainalysis suggests that hackers made over $1 billion from pilfering cryptocurrency exchanges in 2108. It’s estimated that over 1 million BTC has been looted from exchanges, and likely even more. This number is right around the stash Satoshi Nakamoto is sitting on. There is an estimated $7.7 billion worth of stolen BTC floating around.

Localbitcoins Banned in Iran: Localbitcoins, a Helsinki-based BTC exchange that facilitates over the counter trading of bitcoin, is “currently not available” in Iran, as per its site. A few reasons for this include rising tensions in the Middle East (Iran and the United States), and the U.S. imposed sanctions against Iran. As a global digital currency, Bitcoin enables Iranian residents to buy products and services overseas.

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ABOUT THE AUTHOR

Getting Started Gold Bars.

ABOUT THE AUTHOR

Alex Moskov is the Founder and Editor-in-Chief of CoinCentral. Alex leans on his formal educational background (BSBA with a Major in Finance from the University of Florida) and his on-the-ground experiences with cryptocurrency starting in 2012. Alex works with cryptocurrency and blockchain-based companies on content strategy and business development. He privately consults entrepreneurs and venture capitalists on movements within the cryptocurrency industry.

His writing has been seen in The Hustle, VentureBeat, Yahoo Finance, Harvard Business Review, and Business Insider. His articles on CoinCentral have been cited on publications like Forbes, TechCrunch, Vice,  The Guardian, Investopedia, The Motley Fool, Seeking Alpha, and more.

He also regrets not buying more Bitcoin back in 2012, just like you.

You can connect with Alex on Twitter.