The global cryptocurrency community was panic stricken for the most part of the past week. A depression that has been nicknamed by Cointelegraph as the "crypto massacre" saw almost every virtual currency bleeding profusely.
It was a doomsday of sorts, and many attributed the gloom to a couple of issues. Some said the Bitcoin scaling debate was to blame for the mass slump of cryptos. Another theory attributed it to DDoS attacks currently affecting Bitcoin exchanges.
But towards the end of the week, a ray of hope appeared, with various digital currencies emerging from the ashes and appreciating in value. It was fantastic to observe the speedy recovery of these cryptocurrencies, with some making admirable gains while others are yet to recover from their losses.
Early in the week, it was IOTA who caused an upset by invading the top 10 and taking over the sixth spot. The move ensured that Monero and Bytecoin parted ways with the elite top 10.
It also resulted in BitShares and Stratis being pushed down the ladder. They now occupy the ninth and tenth positions respectively. It was a major shake up that indeed caused some mayhem.
But the IOTA rampage capsized when the only exchange that has listed it so far endured a DDoS attack. This saw the newcomer being pushed to the eighth position.
However, the most intriguing movement came with Litecoin. In fact, the SegWit pacesetter jumped three places to be the world's number four crypto on Saturday. In the process, it pushed aside IOTA, NEM and Ethereum Classic, when just last Wednesday it was ranked seventh.
At the time writing on Sunday morning, LTC was being sold for $43.12 and its market cap has surpassed the $2 bln mark. In the past few weeks, the currency has gone through a metamorphosis.
First, they successfully activated SegWit and statements from the team indicated that there has yet to be a blemish. Then, the Chinese government lifted its ban on the withdrawal of Litecoin and Satoshis at exchanges. Finally, the community became aware with bliss of Charlie Lee's resignation from Coinbase to concentrate fully on his brainchild.
NEOUSD, DASHUSD AND IOTUSD SET PACE AS USD BULLS TAKE OVER
Depending on your perspective, this recent NEOUSD bear run is just the second wave of a larger NEO depreciation. Pasting a Fibonacci retracement tool from 15.09.2017 lows of $13 and 14.08.2017 highs
Anonymous Storage Ledger Aims to Disrupt Online Advertisement Industry
The internet has improved by leaps and bounds since its invention almost 30 years ago. Subsequently, websites have evolved drastically from simple text files to complex content delivery platforms
Cointed: Bridging the Gap between Crypto and the Real World
We all know that cryptocurrency is the way of the future.Â Plenty of online businesses and companies accepts and deal in crypto and its popularity is increasing every day.Â However, the main
LedgerX Trades $1 Million in Bitcoin Derivatives in First Week
The first regulated cryptocurrency derivative trades have taken place on a U.S. exchange.
In a statement to the press today, bitcoin trading platform LedgerX confirmed rumors that it has already be
BlackRock Strategist: There's No 'Right or Wrong' Price for Bitcoin
The chief investment strategist for BlackRock, the world's largest asset manager, said in a new interview that he doesn't know where to peg the "fair" price of bitcoin.
Speaking with Business Insid
BitMEX Clarifies Position on Bitcoin Hard Forks With SegWit2x Looming
BitMEX, a cryptocurrency exchange, has clarified its position on hard forks considering the pending SegWit2x hard fork in November. The SegWit2x hard fork is intended to provide a minimal patch to res
TSMC: Cryptocurrency Mining Drove Strong Third Quarter Revenue
The chief financial officer for the Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest independent semiconductor foundry, cited cryptocurrency mining in the firm's third-quarter re
Tezos Derivatives Crashes Amid Management Infighting after $232 Million ICO
The price of Tezos derivatives has crashed on multiple exchanges following the revelation of infighting between the platform’s developers and the independently-operated Tezos Foundation.