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It’s been a quiet week for the market after the price drop of recent weeks, the downward trend has stopped, and the entire market is ready to see what happens next. It seems that weak hands are real and money is changing hands as new players enter, and the order book is renewed. In addition, mining difficulty fell by 15%, the sharpest decline since 2011.
The alternative coins, Altcoins, had a slightly more turbulent week with a mixed trend, with many of the altcoins showing a positive trend, especially when trading against Bitcoin.
Ethereum Classic’s development team announced that they are abandoning the development due to difficulties in financing their operations. It will be interesting to see how long ETC will continue to star in the top 20 even though its developers have abandoned ship.
A 51% attack on Vertcoin reminds us of the weakness of small and unsafe Alt networks.
The ICO phenomenon continues to lose momentum, and despite the SEC’s warnings, many companies are trying their luck in the airdrops scene.
The market cap is around $128 billion, and the trading volume is stable at $14 billion
Bitcoin Dominance at 53.9%.
This article was first published on: Dec 4, 2018
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