Hi, as usual we have prepared TradeSanta’s weekly digest. Top news of the past week in cryptocurrency and blockchain industries are collected right here. Let’s check them out:

  • Licensed cryptocurrency exchange Bitpoint was hacked, and $32 million in crypto assets were stolen;

  • Tyler and Cameron Winklevoss, co-founders of Gemini: FANG companies will launch their cryptocurrencies by 2021;
  • Cryptocurrency exchange Bitmarket was shut down.

Cryptocurrency Market Stats

Total market capitalization of all cryptocurrency assets slid down to 289 billion USD. Check the last week’s results in the table below.

StatValue (7d change)
Market Cap$ 289 688 467 352 (-11.94%)
Markets19 332 (+0.95%)
Cryptocurrencies2 324 (+0.17%)
BTC Dominance65.8% (+3.1%)

Major Coins’ Price Stats

According to the Coinmarketcap data, cryptocurrencies suffered great loss: BTC dropped by 10%, ETH is down by 22%, and XRP lost 25%. Check results of the previous week below.

 Coin Close 7d Gains 7d High 7d Low
 Bitcoin$10 256.06-10.43%$13 129.53$9 992.01

Quote of the Week:

Arthur Hayes, CEO of BitMEX, about Libra: “It has the potential to completely disintermediate commercial banks entirely, and destroy their revenue-generating possibilities. […] PayPal is f**ked anyway.”

In Case You Missed It:

  • Japan-based cryptocurrency exchange Bitpoint was hacked. It lost $32 million in crypto assets. According to CoinDesk report, all services were halted including trading, deposit and withdrawal functions. It is still unclear which assets were stolen, but the exchange’s parent company Remixpoint has promised to compensate its customers.
  • Bitcoin billionaires Tyler and Cameron Winklevoss predicted that FANG companies (Facebook, Amazon, Netflix and Google) will start offering their digital currencies by 2021. Speaking about Facebook coin, they told CNBC that it is only a matter of time, and “Big Four” IT giant companies will implement their coin soon: “Our prediction is every FANG company will have some sort of cryptocurrency project within the next two years.”
  • Polish cryptocurrency exchange Bitmarket shut down without warning. The company mentioned that a loss of liquidity was the main reason for its closure: “We regret to inform you that due to the loss of liquidity, [from] 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.” After this post, Reddit users started their researches and they have pointed out that Bitmarket customers were forced to change their passwords and their API keys without any reason before it was closed.

That’s all for now. We hope that our digest will be helpful for you. Don’t forget to subscribe, and stay tuned for new blogposts from TradeSanta team!