This Week In Cryptocurrency - Friday, Feb. 1

Slow Bleeding Bitcoin

Another disappointing week in cryptocurrency with the entire market losing around five percent in the 7-day timeframe. Altcoins were in a sea of red with only Litecoin (0.22%), Holo (22.33%), and some stablecoins showing any positive movement. Like the rest of the market, the top three cryptocurrencies underperformed as well.

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Cryptocurrency Market Stats (2/1/19)

Bitcoin fell 3.12% with a current price just shy of $3,500.

XRP  lost 2.50% of its value and now rests at slightly over $0.30.

Ethereum is approaching the $100 mark, losing 8.47% over the week.

Domestic Cryptocurrency News

Cboe Re-Enters Bitcoin ETF: After withdrawing their Bitcoin ETF proposal just a week ago, the Chicago Board Options Exchange (Cboe) has submitted it for approval once again. After several decision delays by the SEC, the Cboe withdrew the proposal on January 23rd, fearing the government shutdown would stonewall it.

With the government, specifically the SEC, back to running at full force, leaders of the Cboe believe they can work together to finally get a Bitcoin ETF passed the regulatory hurdles.

Merck Receives U.S Blockchain Patent: In a January 30th press release, Merck announced that the United States Patent and Trademark Office (USPTO) has granted the company with a patent relating to “crypto-objects.” This patent builds upon others that the company has established and combines Artificial Intelligence (AI) with blockchain technology. It’s the organization’s hope that this new patent will help to improve the integrity of physical products, including pharmaceuticals, in global supply chains.

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