In our weekly digest, we will share the most important crypto news from last week.
Perhaps the most important news is that Bitcoin finally broke through the $4000 psychological barrier. What’s more, Tron increased its rate in light of the upcoming hardfork planned for February 28. It’s also worth noting that despite the fall experienced by the top-10 cyrptocurrencies, prices on PLC, STORM, LUN and a number of other undervalued cryptocurrencies did not experience significant correction.
The PLC exchange rate remained fixed at approximately $20, while sales volumes remain constant.
Several other factors indicate that the upcoming end of the crypto winter:
- Ethereum sales volumes have returned to 2018 levels – a time when enthusiasm for cryptocurrencies was at its peak. This is pointed out by DataLight analysts .
— DataLight (@DataLightMe) February 20, 2019
- Chinese mining company Ebang announced the release of 400 new devices. Despite the ‘crypto winter’, the company’s profits over the past six months are 8 times higher than they were this time last year. At the end of 2018, the company also submitted their IPO application.
- CoinList — a token sales platform — reported growing interest towards ICOs and STOs. It’s worth noting that this platform enables accredited American investors to participate in token sales without breaking US law. The company is currently focusing its efforts on conducting STOs.
- Lightning Network is experiencing active growth: its capacity has reached 700 BTC ($2.39 million). According to 1ML, Lightning has achieved higher capacity than it has ever reached since its creation (30 months ago). The network’s growth was greatly influenced by the introduction of Lightning Torch – a transaction relay between nodes that has gained the support of Twitter CEO Jack Dorsey.
And now let’s move on to some other news that deserve attention.
The era of lightning-fast ICOs is back
The Fetch.AI crowdsale launched on Monday at 17:00 Moscow time on the Binance Launchpad was completed in 22 seconds. The hardcap was set at $6 million. Similarly to the BitTorrent Token sale conducted earlier, some users didn’t get a chance to participate. Binance CEO Chanpeng Zhao shared that 19 860 people sent in applications but only 2758 managed to purchase these new tokens. The maximum investment cap on Binance Launchpad was lowered from $20 000 to $3000, which greatly improved the work of the platform.
24000 people pre-signed the User Agreement, 19860 people successfully submitted a buy order, 2758 people got a piece. The first 22 seconds (not 10). https://t.co/eVQy741bhO
— CZ Binance (@cz_binance) February 25, 2019
Tron developers announced hardfork date online
The startup’s founder Justin Sun announced that Tron will be updated to version 3.5 during the hardfork on February 28. Following the upgrade, the system will be updated to accommodate institutional players. Justin Sun said that the company has recently received a lot of inquiries from hedge funds, professional investors and financial institutions. After the update, the Tron blockchain will satisfy their main requirements: multiple signatures, account management and storage.
Ethereum to release long-awaited Constantinople upgrade this week
Developers posted to the company’s official blog, saying that the Constantinople and St.Petersburg upgrades will be activated as soon as this week. The upgrades will be activated at block number 7 280 000, which is predicted to occur on February 28.
The Constantinople upgrade is part of a three-stage Ethereum upgrade called Metropolis. For more details about the expected changes to the Ethereum network after the upgrade, check out an earlier article posted here.