Weekly Updates Vol.2 (2018.11.12-2018.11.16)

Weekly Market Review

1. Market Status quo
   As of 15:00 GMT on Friday (November 16th), the total market capitalization reaches 185.759 billion dollars, and transaction volume of cryptocurrencies reaches 19.882 billion dollars. Compared to last Friday, the total market cap downed about 13% while transaction volume rose about 47%. The mainstream cryptocurrencies’ price has dropped significantly, with BCH recorded the biggest dip. Compared to last Friday, BTC, ETC, BCH, and DASH are reported to drop by 12.8%, 15.22%, 27.2%, and 14.9% respectively.
2. Market Analysis
   By the end of Nov 15^th, the total market cap of cryptocurrencies shrank to $181.324 which had fell over 10%. Prices of all mainstream currencies also have suffered. Particularly, the price of both BTC and BCH had decreased by nearly 10%. Market pessimism might be one of the reasons affecting the changes in market price. Uncertainty amongst investors in regard of the BCH hard fork is also reflected in the cryptocurrencies’ market performance this week.

Weekly Industry News

1. BCH ABC Mined 31 Blocks ahead
   Official Coin Dance website showed that the bitcoin cash network has now been upgraded. The data shown that 76 blocks have been mined under the new consensus rules and Bitcoin ABC is currently 31 blocks ahead.
2. Venezuela: Petro Can Be Converted Into Any Cryptocurrency
   Nicolas Maduro, Venezuela’s president, confirmed that anyone who buys Petro can convert it into any digital currency or international convertible currency from now till December 31^st. Such act offered a new incentive for citizens to purchases the country’s newly launched national digital currency. Read more: Source of information
3. Cryptocurrency ATM Growth Spiked Exponentially to 4,000 Machines Worldwide
   According to global statistics provided by Coinatmradar.com, there are now close to 4,000 cryptocurrency automated teller machines (ATMs). Read more: Source of information

Policy Information

1. Vietnam Report Prompts Government Action on Crypto Regulation
   A new report published in Vietnam discussed the potential changes on current cryptocurrency regulation and practice. Hanoi’s Ministry of Justice provided the government food for thought, including bringing Vietnamese rules on digital currencies in line with other countries overseas where cryptocurrency is more firmly established. Read more: Source of information

CoinCola Promotion

“Be social and receive free bitcoin”

CoinCola hosted an international contest to gain free Bitcoin. Users are encouraged to share CoinCola with friends in return for the Bitcoin reward. Read more: Source of information

Earn $10 Trading Bonus

CoinCola also launched a promotion to earn $10 trading bonus. Users who trade with CoinCola’s OTC platform can earn 10% of the trading volume upon the completion of each transaction.Read more: Source of information