In terms of privacy technology for transactions, XMR strongly leads the pack, but continues to trail other privacy coins in terms of scalability solutions. With the addition of Bulletproofs, transactions will be smaller and cheaper, and block times will be lower, without sacrificing any of the privacy tech.
Ripple, the company, continues to have many moving parts, including further implementations of enterprise solutions, distancing itself from the XRP token, and dealing with claims that the XRP token represents an unregistered security. To an outsider, the company and the token are so closely related it’s difficult to understand the differences. Ripple, the company, continues to hold a majority stake in the token. Efforts by Ripple/XRP, including a logo change and adding non-Ripple validators, suggest that Ripple is conscious of this problem.
The total market cap for all cryptocurrencies and assets currently stands at ~US$250 billion, unchanged since the beginning of the quarter. The total market cap peaked at the start of this year, at around US$800 billion, followed by a 3 month decline. The total market cap then rebounded from April to May, before giving up those gains just as quickly.
Ethereum has entered an era of increased competition, from projects like EOS, HashGraph, DFINITY, and others. At the same time, several projects, dApps and protocols, are going live on mainnet. Scaling continues to be an ongoing concern in terms of both competition and the ability to handle the network load. It is an opportune time to discuss scaling solutions while network use is experiencing a nadir, otherwise, patchwork fixes and band-aids may lead people elsewhere, in both usage and future development work. The details of several scaling solutions, like the transition to PoS from PoW, are actively being discussed and conceptualized.
On the heels of a 25% rout the previous week, the U.S. government finally provided comments regarding regulatory clarity for Ethereum (ETH). The comments were interpreted immediately by the market as bullish. The market cap now stands at US$49.12 billion, with exchange-traded volume of US$1.25 billion in the past 24 hours.
Bitcoin (BTC) has risen 30% since April 12th, with most of those gains occurring in two days. The market cap now stands at US$151.23 billion, with US$2.44 billion traded in the past 24 hours.The networks hash rate and difficulty continue to increase month over month. This trend should continue unabated, with several new mining hardware products being shipped this quarter. The current rate of block discovery reflects the continued addition of hash rate. Block times (not shown) have remained consistently below 10 minutes per block since January.
Bitcoin (BTC) continues to recover from this years low, set earlier this month. The market cap now stands at US$177.78 billion, with US$3.69 billion traded on exchanges in the past 24 hours.
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Cardano (ADA) has benefited from a market filled with bullish exuberance, exploding in price from under US$0.03 to US$0.41 in less than three months, a gain of over 1500%. The market cap currently stands at US$13.11 billion with US$96.56 million traded over the past 24 hours.
After breaking the previous level at US$6200, Bitcoin continues to push all-time highs in both price and market capitalization, which now stands at $120 billion. Bitcoin 24 hour trade volume has now eclipsed the market capitalizations of all other alt coins except for Bitcoin Cash, Ethereum, and Ripple.