Cryptocurrency Market Report - March 28, 2018

Market Summary

Crypto-currency markets tested their recent support levels again as prices have moved sideways in volatile trading sessions over the past several weeks. Litecoin, Cardano, and NEO have led the alt-coins lower in the past 7 days. LTC saw a steep sell off earlier this week as when LitePay announced they were abandoning the project. Price fell further as LTC creator Charlie Lee tweeted an apology about the over-hyping of the failed project.

Bitcoin has also been rounding out a bottom, with prices pushing below $8,000 again. The 200-day / 50-day moving average cross over, dubbed the "death cross" has added more FUD to the markets this week. Some investors and traders have been exiting positions in anticipation of lower prices to come while others are buying the dip.

Meanwhile, many ICO projects of 2017 have been working on their products and are moving closer to full launch. Ontology Network (ONT) and Trinity Credit Network (TCN) are two of the largest new projects to launch recently on the NEO platform. Trinity in particular aims to solve scaling issues on the network, similar to a lightning network solution. Cardano and EOS are also quickly approaching the releases of their full blockchain and wallet solutions. These two projects have had a enthusiastic following over the past months and will be revolutionary to the block chain space once live.

Ethereum has also been experimenting with scaling solutions; most notably sharding of the blockchain, or storing chunks of the blockchain on each node rather than the entire DAG which should greatly speed up transaction times.

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Latest News Headlines

Sharding Is Already Ushering in Radical New Ethereum Designs

So-called "sharding" may still be theoretical, but the promising implications of the concept are becoming more and more real.

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Ripple Joins Hyperledger Blockchain Consortium

Hyperledger announced Wednesday that Ripple is among fourteen companies to join the group, which first launched at the end of 2015 and to date has added more than 200 firms and organizations to its ranks. Also joining the group is CULedger, a separate consortium backed by a group of credit unions that last year formed an industry-focused services company.

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OmiseGO And Vitalik Buterin Donate $1 Million In Crypto To Charity For Ugandan Refugees

East Africa-based charity GiveDirectly has expanded into cryptocurrency with a $1 mln donation in crypto tokens from decentralized payment network OmiseGO, it announced Tuesday, March 27.

The donation, which OmiseGO contributed together with Ethereum cofounder Vitalik Buterin, will see GiveDirectly continue an experimental scheme aimed directly at refugees, providing 12,000 grants to families in Uganda.