Crypto's 80% Fall to Exceed Dot-Com Crash Already

Bloomberg's journalist Michael Patterson says that overall cryptocurrency fall of 2018 had already exceeded the well known dotcom crash of 2000s
12 September 2018   785

"The Great Crypto Crash of 2018," as Michael Patterson, the Bloomberg columnist, calls it, has already beaten the anti-record of the dotcom market at the beginning of the new millennium. Such a comparison was made on the basis of the Nasdaq composite index, according to which the drop in the dotcom market in 2000 from the peak to the lowest was 78%.

At the same time, MVIS CryptoCompare Digital Assets 10 data from Nasdaq, which tracks the results of the ten largest and most liquid crypts, on Wednesday, September 12, showed that the digital assets market has fallen by 80% since January.

The Great Crypto Crash of 2018
The Great Crypto Crash of 2018

According to Michael Patterson, like their predecessors during the boom of shares of Internet companies almost two decades ago, today's investors who decided to bet on revolutionary technology are experiencing a painful return to the ground.

As the analyst notes, the cryptocurrency mania of 2017, fueled by hopes that bitcoin will become "digital gold," and the tokens created on the blockchain that transform virtually all industries - from finance to the food industry - quickly gave way to concerns about too much excitement, security, market manipulation , the need for more brutal regulation of the industry and its too slow adoption on Wall Street.

He also says that the cryptocurrency bulls do not attach importance to negative comparisons with the dot-com era, pointing to the recovery and rise to new heights of the Nasdaq index, to the enormous influence that the Internet has had on society, and also recalling that bitcoin, after previous similar falls, .

Nevertheless, Patterson writes, even if the optimists eventually turn out to be right and the cryptocurrency will change the world, this year's events show that this process will not be smooth and even.

As of 10:00 UTC Wednesday, September 12, the aggregate market capitalization of the cryptocurrencies was $ 187.4 billion, which is the lowest in 2018. The vast majority of altcoins are in the deep red zone, having lost in value in the last day from 3 to 13 percent.

Top 20 Cryptocurrenies
Top 20 Cryptocurrenies

Bitcoin currently trades around $ 6264 (-1.4%), the average rate of Ethereum dropped to $ 174.47 (-10.29%). In the Top-20 CoinMarketCap, Dogecoin still stands alone: ​​over the past 24 hours, this cryptocurrency has grown by 2.62% (+ 24.36% per week) and, having surpassed Nem, Tezos and VeChain by market capitalization, has already risen to 17th place .

Samsung to Invest $2.9M in Ledger

The fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details
25 April 2019   18

The developer of hardware wallets Ledger attracted 2.6 million euros ($ 2.9 million) from the South Korean conglomerate Samsung. The company's investment valuation reached $ 290 million, according to the French edition of Capital.

Thus, the very fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details. Co-founder Eric Larchevêque, who had recently transfered power to the new CEO Pascal Gauthier, also did not shed light on the details of the transaction.

Larchevêque himself will focus on the company's strategy, cooperation with regulators and legal compliance as the executive chairman.

Ledger raised $ 7 million in a round of financing for Series A in early 2017, which was headed by MAIF Avenir, a division of large French insurance company with the support of Xange, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto as an individual investor.

At the beginning of 2018, a round of financing for Series B took place, within which the hardware wallets maker raised $ 75 million. The round was led by Draper Esprit, the other participants were Draper Venture Network, FirstMark Capital, Cathay Innovation and Korelya Capital.