In “This was the NEWS” we take a look at the most important news of last week. What has happened in the crypto space over the last 7 days? News items that you may have missed and you really need to read. You will find it here!
1. What Caused VeChain’s 50% Rise In the Past Days?
This week, VeChain, a China-based Internet of Things (IoT)-focused crypto, surged by more than 50 percent in 24 hours. Analysts have attributed the increase in the price of VeChain to the successful series of partnerships the team has been able to secure since earlier this year and the improving momentum of tokens in the global cryptocurrency market.
You can read more about VeChain and its price surge here: The VeChain price surge!
2. The Winklevoss Twins Are Not Put Off by the SEC’s Rejection
The Winklevoss twins are continuing to grow their business even though the Security and Exchange Commission rejected their proposal to create a Bitcoin-based exchange-traded fund twice. In an interview with Bloomberg, the creators of the Gemini Exchange made it clear that Wall Street’s reluctance to adopt cryptocurrencies does not bother them — the two brothers are continuing to grow the business.
Read more about the Winklevoss Twins and their future plans here: The Winklevoss Twins about SEC’s Rejection
3. Turkish Citizens are Finding Solace in Bitcoin During Economic Collapse
Turkey is seeing a surge in interest towards Bitcoin, in the wake of the country’s latest currency crisis. The recent economic turmoil in Turkey has led citizens to seek financial refuge in bitcoin. As the economy suffered an adverse reaction to Trump’s tariffs on Turkish steel and aluminum, the Lira crashed by over 20 percent within a few hours. This drove investors not into the traditional safe-haven asset of gold, but into bitcoin instead.
You can read more about Turkey and Bitcoin here: Turkish Citizens are Finding Solace in Bitcoin During Economic Collapse
4. Coinbase Says It Was Signing Up 50,000 Users On A Daily Basis In 2017
“This was the NEWS” summary!
It has been another week to remember. With Bitcoin diving below $6000 on Tuesday, many crypto investors were getting themselves ready for another big crash. Luckily, the market found a way to recover and went back up, now fluctuating between the $6300 and $6500 regions. One of the downtrends of Bitcoin and the rest of the market over the last weeks, has of course been the ETF rejections and postponements from the SEC. Despite the rejection of the Winklevoss ETF, the Winklevoss twins are continuing to grow their business and mentioned that theystill very much believe in a very bright future for crypto.