Crypto Week in Review: It’s Beginning to Look Like Altcoin Season
Each Sunday, we breakdown the most important crypto market news from the past week for SludgeFeed Premium members, including key events and stories you might’ve missed from a variety of news outlets.
Top Headlines This Week:
Coinbase announced Tezos (XTZ) baking for Coinbase Custody clients. This was the first full-service, regulated, comprehensively-insured, and 100% offline staking provider in crypto. In the coming weeks, Coinbase will add governance support for the Maker (MKR) protocol.
South Korean crypto exchange Bithumb has had around $13 million in EOS stolen in a hack it suspects was an insider job.
The company confirmed in a statement on Saturday that it first spotted an “abnormal withdrawal” of the cryptocurrency through its monitoring system at 22:00 Korean time (13:00 UTC) on Friday, March 29.
The exchange suspended asset withdrawals and deposits on the platform after noticing the breach.
Some reports have the total stolen as high as $20 million.
Justin Sun, the founder of one of the largest digital tokens, is awarding two Teslas instead of one after a mishandled promotional giveaway caused an uproar in the crypto community.
According to a recently published letter, Pantera has raised a total of $160 million and anticipates to complete the fundraising in the next month. The firm also noted that it has started to deploy the capital.
VKontakte (also known as “VK”), which is Russia’s version of Facebook, is planning to issue its own cryptocurrency. The project is currently under development, but a final decision has not yet been made.
The social media firm wants to create a cryptocurrency that all its users can implement, according to Russian news website RNS.
In response, Bitmain published a blog post on Tuesday where it explained the application expiration was purposeful as the company wants to continue focusing on product development and its customers in 2019 while the crypto market continues to mature.
Kazuhiro Tokita, representative director, board member and president at Japanese cryptocurrency exchange DeCurret, unveiled a new cryptocurrency payment system during a business presentation in Tokyo on March 27. Cointelegraph Japan reported on the presentation.
Weiss Ratings, an independent rating firm for stocks, mutual funds, cryptocurrencies, ETFs and financial institutions, has made another major push into the digital assets space with its new data-driven rating system.
Video of the Week:
7-Day Market Performance (Powered by AltDex):
- Top-100 Index (ALT100): 4.3%
- Exchange Token Index (ALTEXC): 4.8%
- Privacy Coin Index (ALTPRV): 8%
- Masternode Index (ALTMSN): 22.3%
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.