Author: changehero
July 24, 2020

The past week in the crypto world may not have had loud events that sent shockwaves across all the social media like the previous one, but overall market performance was quite favorable. ChangeHero rounded up the latest cryptocurrency news for this week and our updates for you. Maker (MKR) and Status (SNT) are now on […]

This Week in Crypto By ChangeHero

The past week in the crypto world may not have had loud events that sent shockwaves across all the social media like the previous one, but overall market performance was quite favorable. ChangeHero rounded up the latest cryptocurrency news for this week and our updates for you.

Maker (MKR) and Status (SNT) are now on ChangeHero!

Governance tokens seem to be gaining steam in DeFi, so we turned on MKR and SNT!

Maker (MKR) is a governance token in the Maker Protocol, smart contracts that power Dai. It helps with the recapitalization of the protocol and supports the stablecoin’s peg. Within a community-based model, MKR holders can propose and vote on the initiatives that affect Dai stablecoin, its collateral or even the governance itself by locking their tokens in the voting contracts on-chain.

Status (SNT) is a ERC-20 token used in the Status Network. The core part of this ecosystem is the Status app, which combines functions of a P2P messenger, cryptocurrency wallet and dApp browser. The Status Network Token is required by Stakeholders (app users) to select their provider and receive push notifications.

Latest Cryptocurrency News Highlights

Bitcoin news

A week ago we wrote how even a large-scale fraud connected with Bitcoin failed to budge the price. This week we finally saw some movement from BTC after a 4-week long consolidation period. On Tuesday and Thursday the price saw a couple of upshots, which in sum led to an 4.27% increase in price over seven days. The bullish action might stem from a short squeeze in the crypto derivatives market or the news like the rumors of partnership between PayPal and Paxos.

Experts speculate that in the nearest future Bitcoin will jump over $10,000, supporting their claims by three factors: low volatility trend breakout, institutional interest rising and risk-on mood in the traditional stock markets;

Adoption

Visa issued a statement on their dedication to explore the digital currency solutions for its payment network;

Regulation

The USA’s Office of the Comptroller of the Currency, largest banking regulator, authorized national banks to provide custody services for crypto assets;

Quote of the week

Nonetheless, Brad Garlinghouse, CEO of Ripple, considers the USA to be lagging behind China in terms of adoption of blockchain technology: “I think they’re realizing that some of these technologies may in fact be very foundational for the future of how financial systems work, and they want to make sure that they have capabilities at the heart of them.” (as reported by Cointelegraph);

Tech news 

Ethereum 2.0 is alive! The testnet is set to launch in two weeks, and in the best case scenario the main chain can launch by the end of 2020. The “attacknets” (mock networks with less nodes to secure them for hacking/overload resilience tests) were launched this Monday with the bounty of up to $5,000.

Crypto Twitter highlights 

Elon Musk posted a Dogecoin meme which resulted in 17% pump
Source: Twitter

As a CEO of Dogecoin, Elon Musk responsibly adhered to his duties (read: posted a Dogecoin meme), and Dogecoin pumped up momentarily by 17%:

Chief Scientist of Elliptic Tom Robinson shared a GIF showing the movement of funds sourced from the recent Twitter hack.
Source: Twitter

From the Crypto Twitter itself, Chief Scientist of Elliptic Tom Robinson shared a GIF of the process of tracking the funds of the hackers behind the Twitter hack a week ago, as well as provided a report on the results:

The whole process is mesmerising and serves as a proof of the usefulness of blockchain tech.

We also had a nice week on Twitter. Earlier this week, ChangeHero was holding a giveaway on the World Emoji day! A lucky winner got 250,000 sats from our team. Another winner of one of our previous giveaways gave us a shoutout when his present found him at his birthday celebration party!

Top Cryptocurrencies Price Change

This week in crypto turned out to be a pretty good one for the currencies with the largest caps, as they were mostly in green, following the positive Bitcoin price change and, quite possibly, the anticipation of further rise for the first cryptocurrency. In the light of the announcements made regarding the Ethereum 2.0 progress, ETH price scored a double-digit growth over the last 7 days. Ethereum and Bitcoin became a Champion pair on ChangeHero yet again! Here comes our reminder that you can exchange, buy and sell them with virtually no effort — looks like now is the time.

At the moment of writing, the market’s and top currencies’ dynamics for the last week are the following:

Gainers of the week:

  • DigiByte (DGB) $0.025552 (↑27,26%)
  • Verge (XVG) $0.006891 (↑19,07%)
  • Ethereum (ETH) $271.30 (↑16.37%)

Round-up

Updates on Ethereum 2.0, news from the regulators and large financial companies — this week in crypto was mostly not bad in terms of the news, wasn’t it? Let’s see what the next one holds in store for the crypto market and communities! To stay in the know with our weekly updates, subscribe to ChangeHero Blog and follow us on social media: Twitter, Facebook, Reddit and Telegram.


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