This Week In Cryptocurrency - Friday, Dec. 21

Bitcoin’s Back, Alright

It looks like the cryptocurrency market may finally be turning around. *knocks on wood* Almost every cryptocurrency saw double-digit growth this week as the entire market grew from $104.2B to about $134.5B – just shy of a 30 percent rise. Bitcoin Cash jumped 141.68%. Tron grew 64.82%. Hell, even Bitcoin SV spiked 52.57% this week. 

Numbers like that may make you reminiscent of 2017’s bull run. However, we should tone back the excitement and see what the next couple of weeks have in store. As for our top three coins…

Bitcoin grew the least this week but still posted a more than respectable 23.81% price increase.

XRP continues to hold its second-place spot with a 28.16% improvement in its price.

Ethereum has led the pack since last Friday, showing growth of 35.55%.

(Click on image to enlarge)

Cryptocurrency Market Stats (12/21/18) 

Domestic Cryptocurrency News

Congressman Darren Soto Is at It Again: The Democratic hurricane continues to push for regulatory clarity regarding cryptocurrency. Last week, we reported on Soto’s joint effort with Republican Congressman Ted Budd to stomp out crypto price manipulation. Well, Soto is reaching across party lines once again.

This week, Soto, alongside fellow Congressman Warren Davidson, introduced the Token Taxonomy Act. The new bill would clear up the confusion around the classification of cryptocurrency. Most importantly, it states that a digital asset is no longer a security once it becomes a fully functioning network.

Facebook Potentially Throwing Hat in Crypto Ring: According to a Thursday Bloomberg report, “people familiar with the matter” have stated that Facebook is working on creating a stablecoin for WhatsApp money transfers. The company is apparently planning to start in India where the country has over 200 million WhatsApp users and $69 billion in annual remittance payments.

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