Last week was a historic one in the history of the cryptocurrency market. At the start of the week, the momentum of extremely lusty growth for essentially every cryptocurrency continued.
Double-digit daily growth figure were the norm. Bitcoin, which had never been over $1300 until recently, hit an all-time high of $2500 on May 25. Ether hit the $200 milestone on May 24, and essentially all other coins followed the same pattern, pushing the combined market cap of all cryptocurrencies over $86 billion. What goes up must come down, and May 26 and 27 showed equally dramatic falls, with a rally on May 28.
Miners met in New York to discuss Bitcoin scaling, and there is cautious optimism that an agreement may finally have been reached. Although no official statement was made, tweets from Alistair Milne, Rusty Russell, and Samson Mow hinted that miners had agreed to activate SegWit later this year. Digital Currency Group posted an agreement and list of signatories on Medium.
Data from Google Trends shows that ‘bitcoin’ was the 5th most popular search term on 5/23. Only celebrities and reality TV were more popular.
The government of India, a country where Bitcoin and other cryptocurrencies are currently enjoying a surge in popularity, has called for public input on whether it should ban Bitcoin, regulate it, or leave it alone.
Toyota announced that they are working on an Ethereum-based peer-to-peer ride-sharing platform in collaboration with the Massachusetts Institute of Technology.
The company behind shapeshift.io launched an Ethereum-based platform name Prism for investing in cryptocurrencies.
On May 24, Vitalik Buterin posted an update on the development of Ethereum.
Oracalize announced that their identity platform, made in collaboration with the Estonian government, now allows users to send and receive ether.
The Ethereum Enterprise Alliance added 86 new member organizations on Monday.
The chat app Kik launched its own cryptocurrency.
Image from Wikimedia Commons.