Here is my take on last week’s events in the cryptosphere…
I’ll lead off with Factom. Factom rose sharply over this last week mostly on news of their successful funding round closing at over 8 millions dollars. Factom is still one of my favorite tokens as I see massive potential with the problems they are aiming to solve in the mortgage and title related industries. Factom is now sitting at over $7 a coin at the time of this writing.
Next up I would like to note that Ethereum is being considered for a possible ETF this week. While its always hard to tell exactly what is affecting prices with these currencies, I believe this is a big reason for the huge price move this week. We saw ETH go from the $60 range to the $80 range during this news. Not sure what to expect here, but my gut feeling tells me that ETH has a little better chance of getting approved before Bitcoin will as far as an ETF.
Also, a big mention to what is going on with Litecoin this week. Litecoin has finally reached consensus on adopting Segwit (segregated witness). Now with this milestone in place, it paves the way for the implementation of the lightning network. This will allow off chain transactions and payment channels between trusted parties. I think this is big news. If the debate of implementing these same things in Bitcoin keeps dragging on for a few more months, I wouldn’t be surprised to see a rally in Litecoin over that same period.
All in all, it’s been a wild couple of weeks in the crypto world. We saw the Winklevoss twins try to get a bitcoin ETF approved and were shot down. Prices of BTC rose sharply on the news before hand to over $1000 and then dropped down below $900 after the rejection. Now that the ETF is being reconsidered the price is back at over $1400 BTC as of this writing. Anyone’s guess of where its going from here. Trade and invest accordingly, stay safe out there!