This week carried over the momentum from the reasonably impressive end-of-the-week rally last Friday. The total cryptocurrency market cap grew steadily from US$120.5 billion to US$135 billion over the course of seven days – a gain of about 12%.
Almost every digital currency was in the green this week with several hitting double-digit growth. EOS 38.68%, Maker (MKR) 24.36%, and Vechain 24.51% (VET) were some of the best performers. Looking at the top three in valuation:
- Bitcoin (BTC) cashed out with a 10.04% rise on the week, surfacing above the US$4,000 mark at press time.
- Ethereum (ETH) led the pack, gaining 20.84% to get back in the US$150 vicinity.
- And although it expereinced the least growth, XRP (the native currency of the Ripple Network), still rose a respectable 6.60%. The price currently sits around US$0.34.
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Just when we thought all news of Bitconnect was finally dead and buried, the infamous Ponzi scheme is making headlines once again. This time, at least, it’s on a more positive note.
The FBI released a statement on Wednesday, “seeking potential victims in [their] Bitconnect investigation.” The bureau remained vague on what information they’re looking for but are encouraging any Bitconnect investors to fill out a questionnaire about the matter.
Like most scams, it will be years before Bitconnect’s operators have felt the full weight of their actions. However, the US government wants victims to help bring the US$2.5 billion crypto Ponzi scheme to justice.
And the strange and stealthy QuadrigaCX crypto caper continues this week in the Nova Scotia Supreme Court. CBC reports.
