While year to date cryptocurrency prices have been on a prolonged bear run, this week has provided investors with a much needed positive price spike. Over the last 7 days, all of the top 10 coins have seen increases in their prices.
Top 10 Coins – Weekly Report
The world’s first and most popularly cryptocurrency Bitcoin has seen its price rise 11.56% over the last 7 days.
Cardano ADA (+21.61%) saw the greatest surge in price amid speculation of a partnership with Google, following IOHK CEO Charles Hoskinson giving a talk at Google’s London offices. Hoskinson quickly put these rumors to rest tweeting, “One last housekeeping item, as I was running around Japan, I didn’t notice until today lots of Google news floating around. There is no partnership with Google and my presentation with them was over a month ago. It’s old news. Not sure why it’s getting hyped”.
One last housekeeping item, as I was running around Japan, I didn’t notice until today lots of Google news floating around. There is no partnership with Google and my presentation with them was over a month ago. It’s old news. Not sure why it’s getting hyped
— Charles Hoskinson (@IOHK_Charles) July 1, 2018
Just outside of the top 10, the 11th largest coin by market cap NEO saw its price rise by 31.37%. News broke on July 4th that the NEO Foundation elected a new consensus node leading to increased decentralization of the platform.
Top 100 Coins – Weekly Report
Price gains weren’t limited to just top 10 coins, as 91 of the top 100 coins are up over the last 7 days.
Loom Network (+85.73%) saw the largest 7 day price increase after announcing the first mobile game to run entirely on the blockchain – “Zombie Battleground”.
😮 $250k FUNDING GOAL REACHED! 😮
Zombie Battleground will be the FIRST mobile game to run ENTIRELY on the blockchain.
If you’ve been slackin’ — you STILL have time to join the Zombie Revolution 😉
See you on the Battleground, champ!https://t.co/E9lrSVW4jt
— Loom Network (@loomnetwork) July 4, 2018
The project also received publicity from Ethereum Co-Founder Vitalik Buterin who tweeted their announcement – “Plasma Cash Initial Release — Plasma-Backed NFTs Now Available on Loom Network Sidechains“.
Loom for example made an announcement already: https://t.co/LlxUmZ3upD
But we need more eyes critically auditing all of these projects, and demanding code, security model and proofs. For now English is fine, but we should be moving toward formal verification.
— Vitalik “Not giving away ETH” Buterin (@VitalikButerin) July 5, 2018
0x also saw huge price gains (+65.27%), after being listed on Korean exchange Coinone.
Polymath (+48.42%), Electroneum (+47.33%), KuCoin Shares (+46.41%), Status (+45.5%), Monaco (+44.93%), Gas (+44.28%), Veritaseum (+41.89%), and DigiByte (+40.68%) round out the 10 biggest gainers of the week.
While this period of positive price growth has been great for investors, uncertainty still surrounds the market. Only time will tell whether a prolonged bull run has started or if the market is headed for new yearly lows.