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Altcoin week


Nick CORY

Throughout the last 7 days, Bitcoin has not been seen in a major news. The most pressing issue was its price - there was a time it almost reached $7000, but luckily for some traders, it did not fall any further. Messages on the closure of Titanium were the biggest news from the ICO crime sphere - founders are now ordered to return $20M back to clients.

On the other hand, altcoins or currencies which can potentially serve as an alternative for Bitcoin have been having a busy and eventful week. TRON, Waves, EOS, Ripple, Ethereum Classic appeared in the media one way or another.

Ethereum Classic, Ripple and TRON were involved in the positive news.

When it comes to Ethereum Classic, the deletion of the legacy code called ‘difficulty bomb’ has been successful and went exactly as planned. This code has existed since the advent of Ethereum Classic, but it clearly diverged with the goals of the developers and deleting it was only a matter of time.

Meanwhile, TRON has announced its clear intention to move away from the standards of Ethereum. The lead developer offers all programmers to assess the new structure while meeting criticism from Ethereum supporters.

When it comes to Ripple, the blockchain called xRapid continues to attract attention of the banking and payment organizations. The latest case was Currencies Direct the management of which is sincerely interested in the further use of the structure. While the altcoin itself is not involved, it may increase its reputation due to the gradual rise of brand awareness.

Bitcoin Clashic has renamed itself into Bitcoin Core, becoming a tongue-in-cheek cryptocurrency by mocking the narrative of Bitcoin Cash supporters. The practically worthless altcoin has managed to attract so much attention it cost $10 this week. Of course, its market capitalization is incomparable to any coin from Coinmarketcap’s Top Ten.

20-09-2019 14:12:59  |   Analytics

EOS and Waves were surrounded with much more negative stories, although in both cases, the end was relatively positive. In the case with EOS, the structural flaw has come to the attention of the big antivirus company from China. This disadvantage connected with smart contracts and nodes interception has been confirmed by the developers.

Waves was mentioned in the document sent by the Companies House of the United Kingdom: the authorities notified the enterprise would be closed in the following months which led to the increased activity of the market bears. Eventually, the project leader told that this document did not mean anything serious, as the company has moved to Switzerland.

The market will further assess perspective altcoins and their paths may diverge greatly just as it happened with the first Internet websites - some are still alive today, while others are long-forgotten. In case with Bitcoin, one may assume it would never be forgotten due to its pioneer status, although it can lose the first place over time.


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