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It was a bearish trend last week for the crypto markets as Bitcoin ended the week down 8% trading at $10,378.24. Prior to that BTC traded below $10,000 during the week, before a strong price surge pushed it back above five figures. It has been a challenging week for the majority of crypto-assets, with most ending the week heavily red. There have been a series of data events and summits lined for this week, let’s just quickly glance at the same.
19th – 21st August: Web3.0 Summit
The platform blockchain developer community converges in Berlin this week for the Web3.0 Summit. Speakers including Edward Snowden (via Web-link), Sergay Nazarov of Chainlink and Ethereum co-founder Gavin Wood who will likely speak to the impact of the Ethereum Serenity launch in January 2020.
22nd August: New York Attorney General’s injunction against Bitfinex to expire
Amid the legal tussle between iFinex, the parent company of both Bitfinex, Tether, and the New York Attorney General (NYAG) is likely to establish a significant precedent. Back in earlier July, the justice adjourned the date to determine if the case has to be dismissed or to continue the trial proceedings.
Justice Joel M. Cohen instructed for extending the injunction until August 22nd, as iFinex filed a motion for the dismissal of the case.
Bitfinex transacted the suspicious unlawful loan from its sister company Tether might not seem like a major milestone for the crypto industry, the court’s decision has the potential to sway the crypto market.
23rd August: Lisk Hard Fork
The platform blockchain developer community converges in Berlin this week for the Web3.0 Summit. Speakers including Edward Snowden (via Web-link), Sergay Nazarov of Chainlink and Ethereum co-founder Gavin Wood who will likely speak to the impact of the Ethereum Serenity launch in January 2020.
The Lisk blockchain will soft fork this Friday primarily to improve network transaction processing efficiency and make the LSK token easier for exchanges to manage.
The price of LSK to BTC has halted its bearish rout and gained somewhat on the back of this underlying news in the recent past.
As per the Lisk’s blog, they announced Lisk released Core 2.0.0 to the Mainnet which is the first Lisk Core release built using the Lisk SDK.
The initial announcement of the fork on July 23rdcreated some short term buying activity and the actual fork may have a similar effect, although the price of LSK has tumbled about 13% in the recent weeks as you can observe weekly plotting above.
