Top Five Crypto Events of the Past Week, February 1 – 8, 2019

Many events have taken place in the crypto market of late. In this article, we will be mentioning just five of the key events that shook the crypto world this week.

Bitcoin Hashrate Hits 3-Month High

According to recent data from Blockchain.com, Bitcoin hashrate, the computing power of the network, has risen to a three month high. Ironically this three months period has also seen the harsh rate hit its lowest point in the last 16 months. The data made it known that Bitcoin’s hashrate has hit over 50 quintillion hashes per second.

What this simply means is that new miners are joining the network. This is probably as a result of the drop in mining difficulty for the first time in 2019 by about 1.5 percent at the end of January.

Abra’s Trading App to Let Investors Buy U.S.A Stocks Using Bitcoin 

Abra, a leading bitcoin exchange and wallet service provider has recently announced that it now allows its platform users to purchase shares and ETF (Electronic Traded Funds) with Bitcoin. Also, according to the Abra CEO Bill Barhydt, the company would soon build an XRP supported investment product.

NEM Foundation Releases New Funding Proposal for 2019

In its endeavors to rebuild, the NEM foundation has released a funding proposal for 2019. With the proposal, the newly installed foundation council is looking to completely rebuild the Foundation’s operating structure. This is coming right after the foundation announced that it is one month away from going bankrupt.

Coinbase Adds BTC Support For its Noncustodial Wallet

According to a recent announcement from a San Francisco based U.S crypto exchange, Coinbase the company has added support for bitcoin core (BTC) in its noncustodial wallet. Originally, the wallet was designed to provide support for Ethereum Classic (ETC), ethereum (ETH), ERC721 and ERC20 tokens.

Coinsquare Lays off One-Third of its Employees

Leading Canadian cryptocurrency exchange Coinsquare recently laid off a huge chunk of its workforce. This is coming right after not less than five other trading platforms were caught in the crossfire of the ongoing bear market.

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