Josh Olszewicz is a self-taught trader who began his bitcoin journey in late 2013. After being exposed to and learning as many technical indicators as possible, he became an expert on the Ichimoku cloud, largely influenced by ChaosTrader, TriforceTrader, and Rob Booker.Twitter: @CarpeNoctomYouTube: www.youtube.com/carpenoctom
More from this author
ZRX had a 300% bull run after April first, fueled by speculation around Coinbase using the protocol. CEO Brian Armstrong hinted at this in his latest blog post regarding decentralized crypto-to-crypto trading. Developing a competitor to ETHfinex and Binance, or directly acquiring a relayer like Radar Relay, remains a strong possibility.
Bitcoin (BTC) has continued to seesaw, sliding 20% since May 6th and then recovering slightly over the past few days. The market cap now stands at US$144.86 billion, with US$1.64 billion traded in the past 24 hours.
On the network side, hash rate and difficulty continue to push record highs, with ongoing shipments of ASICs from multiple mining companies, including Bitmain and Halong. Although the original Bitcoin Whitepaper described Proof of Work (PoW) as “one-CPU-one-vote,” the lead SIA coin developer David Vorick argues that “for any algorithm, there will always be a path that custom hardware engineers can take to beat out general purpose hardware.”
Stellar (XLM) aims to create an open platform for building financial products. Users can write messages to Stellar network’s distributed database (similar to SWIFT and Ripple), use XLM as a medium of exchange, or use the asset to trade other pairs, similar to a decentralized exchange.
IOTA is designed to usher in machine-to-machine payments and data transfer in the Internet-of-Things economy. The new protocol promises to fix the scalability issues that ail blockchain technology with fast, zero-fee, quantum-immune, and secure transactions.
IOTA was founded in 2015, by entrepreneurs David Sønstebø and Dominik Schiener, and mathematicians Sergey Ivancheglo and Serguei Popov. Ivancheglo is also the creator of NXT, a Proof of Stake coin. In 2017, IOTA opened a German-based non-profit foundation focused on research, development, education, and standardization of the economy of things. The foundation recently added Dr. Rolf Werner, a Fujitsu business executive, while IOTA recently added Porsche to its growing list of partnerships and corporate interests.
Ethereum (ETH) has experienced a 20% jump this week, returning to prices last seen in early March. The market cap now stands at US$77.51 billion, with exchange-traded volume of US$1.94 billion in the past 24 hours. Transactions per day have also begun to increase, after sliding to less than half of the record high seen in December. The average transaction fee has also risen slightly.
Bitcoin (BTC) has held a shrinking price range between US$8,800 and US$9,700 since April 23rd. The market cap now stands at US$164.36 billion, with US$3.32 billion traded in the past 24 hours.
Crypto exchanges, regulation, and new trading platforms all made headlines this week. In a recent blog post, Binance CEO Changpeng Zhao revealed that the exchange made $200 million in the last quarter. This comes on the heels of a $400 million acquisition of Poloniex by Goldman Sachs-backed Circle earlier this year.