This Week In Cryptocurrency - Friday, Jan. 18

Mr. Crypto’s Wild Ride

Looking at the starting and ending market caps of this week, you may think that it was a relatively uneventful seven days. The market shed less than two percent of value, placing the total market cap at around $122B. However, the middle of the week saw the market plummet nearly five percent in six hours before regaining that loss nearly as quick about a day later.

(Click on image to enlarge)

Cryptocurrency Market Stats (1/18/19)

Most individual cryptocurrencies stayed within single-digit gains and losses. A few exceptions were Augur (56.85%), Chainlink (20.45%), and TenX (78.94%). As for our top three:

Bitcoin continued its price stability with a price drop of just 0.96%.

XRP dropped 2.54% during the week. 

And, Ethereum came up short with a 3.86% loss over the past seven days.

Domestic Cryptocurrency News

Wyoming to Potentially Tokenize Stocks: The Equality State is once again on the forefront of positive cryptocurrency legislation. This week, members from the House created Bill 0185, which would legalize the tokenization of stock certificates for corporations. Beyond stock issuance, the bill would make voting via blockchain legally binding as well.

This bill isn’t Wyoming’s first piece of crypto legislation. As we’ve reported previously, the state has proposed bills loosening the regulations for ICOs, classifying tokens as their own asset class, and creating a technology sandbox to test blockchain technology without overwhelming regulatory oversight.

Blockchain companies are beginning to notice too. IOHK, the development company behind Cardano, has announced plans to relocate from Hong Kong to Wyoming.

College Nerds Challenge Bitcoin: And when we say nerds, it’s in the best possible way. Professors from MIT, Stanford, and Berkeley are attempting to create a new cryptocurrency that blows Bitcoin’s transaction speeds out of the water without sacrificing the core decentralization principles of crypto. The new crypto, Unit-e, will allegedly process up to 10,000 transactions per second utilizing a new form of sharding.

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