Crypto Ups and Downs on 27 Mar - 2 Apr

In this article we present the overview of the gainers and downers among cryptocurrencies with the highest market capitalization during the week on March 27 - April 2 of 2018
02 April 2018   192

From this article you will learn about the most unpredictable ups and downs of cryptocurrencies. We have analyzed the crypto market, and researched the most popular tokens and coins with market capitalization over $1M. In the charts below you can find all relevant information regarding the leaders of growth and fall during past 7 days.

We can fairly say that this week was much more successful for cryptocurrencies than the previous one as our charts show that there was plenty of coins which almost doubled in price. As for the digital coins with high market capitalization, XPA is the leader of our charts this week as it rose 341.57% within past 7 days. Mithril was also incredibly successful, it increased 173.44%, having its market capitalization grown from $56 million on March 27 to $125 million on April 2. Bytom and Ontology have also had a pretty nice week as they rose more than 20%.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Verge 663 543 554 0,044881 87 988 800 + 11.42
Ontology 495 497 258  2,05 37 346 200  + 25.04
Bytom 464 344 020 0,470460 25 561 000 + 21.80
XPA 327 017 000 0,327017 189 558  + 341.57
Mithril 124 080 221 0,413420 9 555 160 + 173.44

However, past week was not so fortunate for some of the cryptocurrencies. A lot of coins and tokens fell down in price and market capitalization, losing popularity among the users.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Ethos 147 780 461 1,94 3 205 760 - 39.99
Storm 121 860 905 0,029803 76 968 100 - 40.05
Request Network 98 080 502 0,147943 3 054 670  - 39.14
Pura 37 139 689 0,214314 272 939 - 42.00
Crypterium 36 077 124 0,462044 296 649 - 41.21

The greatest downer of this week is Pura, which has shown a downwards trend of 42%, having its price decrease from $0,35 to $0,21. Crypterium fell 41.21%, having its price decreased from $0,72 to $0,46 within past 7 days. Moreover, Ethos has also had a rather unsuccessful week, as it fell 39.99%, having its price drop from $3,07 to $1,94 from March 27 to April 2. The market capitalization of Request Network dropped from $153 to $97 million, while the market capitalization of Storm fell down from $184 million to $122 million.

Myth of Total Illegal Bitcoin Use rejected by Scientist

Quebec Chief Scientist (Canada), Rémi Quirion, has issued a rejection for the “myth” that illegal transactions are among those for which BTC is basically used
25 April 2018   61

Chief Scientist is closely connected with the Fonds de recherche du Québec (FRQ) – a publicly funded establishment founded for “providing support for the production and dissemination of knowledge.” Mr. Quirion states that Bitcoin is often accused of being a good tool for crime or money laundering, adding that “Even Christine Lagarde, president of the International Monetary Fund (IMF) recently called for more regulation of cryptocurrencies to counter illegal activities.”

Quebec’s Chief Scientist insists on bitcoin offers its customers “pseudonymity,” rather than total anonymity, which detracts from its potential illicit usage. Mr. Quirion cited Jonathan Hamel, who has denied that the public nature of bitcoin’s blockchain diverts from its anonymity.

Every transaction is transparent and public. They are indeed recorded in a kind of ledger whose copies are distributed among thousands of computers.
Jonathan Hamel, Cryptocurrency Analyst, Associate Researcher, Montreal Economic Institute

Erwan Joncheres, Cryptocurrency analyst, is also mentioned in the document.  He has also denied statements that bitcoin and money laundering go alongside.

I think that tax evasion and money laundering are anecdotal on cryptocurrency networks. Since bitcoin is transparent, it will be very easy to identify all the people trading on an online exchange or portfolio platform.
Erwan Joncheres, Cryptocurrency Analyst

The document underlines the research conducted by the Center for Sanctions and Illicit Finance of the Defense of Democracies Foundation that, after analyzing bitcoin transactions made between 2013 and 2016, revealed that only 0.61% of trading transactions in the period were associated with illegal activities. The Chief Scientist refers center’s findings that illegitimate transactions within the bitcoin economy are extremely centralized, further undermining the offer that illicit activities pervade the bitcoin economy. Said research indicated that less than 10% of anonymous free markets were responsible for 95% of illegal transactions towards bitcoin between 2013 and 2016.