This video is a recap for the cryptocurrency market for the week ending August 19, 2018.
For more on this week's developments, please visit: https://crushcrypto.com/cc-weekly-august-19-2018/
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- The market stayed relatively flat during last week. The overall cryptocurrency market cap increased 1% to $216 billion. Overall trading volume was thin because the market was pretty quiet.
- Bitcoin performed relatively better as prices moved up 3% to around $6,500 dollars.
- Ripple outperformed with a 15% weekly gain as trading volumes increased 24% from the previous week. Ripple announced several positive developments last week, including the three new exchange partners of its cross-border payments product xRapid.
- Coinbase, one the leading crypto exchanges in the world, announced that Toshi is now Coinbase Wallet. Toshi was developed by the Coinbase team last year and was the world’s first mobile decentralized applications browser.
- In Thailand, the Securities and Exchange Commission, which is the country's financial regulator, announced that they have approved 7 business entities as legal cryptocurrency exchanges. The regulator is in the process of reviewing another two cryptocurrency operators that have submitted an application as well.
- Binance, one of the world's largest crypto exchanges, announced they have partnerned with LCX exchange to launch a new Fiat-to-Cryptocurrency Exchange. The new platform will enable users to trade directly against fiat currencies such as the euro and Swiss francs.
- In Venezuela, the country's oil backed cryptocurrency called the Petro will reportedly become the official currency for the state-owned oil company PDVSA. According to President Nicolas Maduro, the petro coin will be the second accounting unit for Venezuela and will be a mandatory accounting unit for PDVSA.
- In the US, the Financial Industry Regulatory Authority or FINRA for short is warning investors to be cautious of ICO projects that claim to be compliant with regulations due to their adoption of the SAFT.
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.