Weekly Cryptocurrency Update

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This Week in Cryptocurrency: March 8, 2019

this week in cryptocurrency march 8 2019

The crypto market continued to show consistent growth this week, gaining over $2.5B in overall market cap (+2%). More specifically:

  1. Bitcoin gained 1.43% as it continues to creep closer to the 4k mark.
  2. Ethereum hardly moved, gaining 0.36%, and the price is just shy of $140.
  3. XRP pulled back 2.57%, inching towards $0.30.
  4. Big winners this week include Litecoin (+18.63%), BAT (+18%), and Binance Coin (+27.5%).
  5. Over 150k bitcoins were accumulated by whales in the a 60 day span, according to a new report.
  6. More drama from the QuadrigaCX exchange saga as Bloomberg reports five of the six wallet addresses that supposedly held users’ funds have been empty for 11 months.

A Little Bit Higher Now

A little bit higher now. And a little bit higher now. The crypto market continued to show consistent growth this week, gaining over $2.5B in the overall market cap. Led by Litecoin (18.63%), Binance Coin (27.50%), and BAT (18.03%), the market grew a healthy two percent over the week. As for the top three coins:

Cryptocurrency Market Stats (3/8/19)

Cryptocurrency Market Stats (3/8/19)

Bitcoin won the week with a 1.43% price increase. It continues to creep closer to the $4,000 mark.

Ethereum hardly moved, growing only 0.36%. The price remains just shy of $140.

XRP experienced a slight pullback of 2.57% inching toward $0.30.

Domestic Cryptocurrency News

Bye-bye, Visa. Hello, Bitcoin: Last week, Kroger, a prominent U.S. grocery store chain announced a store-wide ban on Visa payments starting in April. The move comes in response to Visa’s exorbitant processing fees, which are apparently making it difficult for the chain to maintain low prices for customers.

Bitcoin advocates were, of course, quick to swoop in. Anthony “Virus is spreading”Pompliano put in a request on Twitter for any followers to put him in contact with the Kroger executive team. And, Satoshi be damned, it actually worked. Pompliano followed up this week, informing the Twitter masses that he spoke with the Kroger digital team, and things look to be progressing. Bitcoin Lightning Network payments could be coming to a grocery store near you.

Pomp 🌪

@APompliano

Grocery store @kroger is stopping acceptance of @Visa in over 250 stores because of network fees.

Who knows someone on the leadership team there?

The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide. 🔥🙏🏽

921 people are talking about this

Denver to Try Out Blockchain-Based Voting: The mile-high municipal is planning to pilot a mobile voting app for its election in May. They’re making the blockchain-based app available to active-duty military and their eligible dependents as well as any overseas voters. Moving the absentee voting process to a mobile app improves on the tedious process of having to print out and scan all the required documentation. And overall, it should help to increase voter turnout.

The progressive voting effort is in partnership with Tusk Philanthropies, an organization on a mission to “advance mobile voting and anti-hunger programs around the country.”

People Saying Things

Dorsey, More Like Hoardsey: Bitcoin fanboy and Twitter/Square CEO Jack Dorsey is ensuring he’s on the right side of history when Bitcoin becomes mainstream. This week, on the Tales from the Crypt podcast, Dorsey revealed that recently he’s been gobbling up $10,000 worth of crypto each week, the maximum amount via Cash App.

This article is brought to you by Coin Central: https://coincentral.com/

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