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The week in cryptocurrency: w/c 14th May

By James Tennant

May 2018

3 Min Read

Weekly Roundup Crypto

A look at the markets, the biggest news stories, and announcements from the last week.

Market Cap

The market cap has stayed within the $365 - $410 billion range all week, as the consolidation period continues. Compared to normal (if that's the right word to describe the crypto markets), the second quarter of 2018 has been relatively calm so far.

The end of the Consensus conference did not bring about the bull run that many expected (the price of Bitcoin usually sees a rise after the event), with the market reacting in the opposite way this time around.

The week drew to a close, as it did last week, with a minor slump, although the market does show small signs of recovery going into the weekend.

News

1. Consensus 2018

It was all about Consensus 2018 this week as 8,500 people were crammed into the Hilton Midtown in New York City for three days of crypto and blockchain talks, exhibitions and announcements.

The huge increase in attendees compared to last year (2,700 people turned up in 2017) shows how much hype there is in the cryptocurrency world right now, highlighted best by the fact that Snoop Dogg performed at a private party to close the conference.

Who knows, maybe next year it'll be Beyonce performing?

2. HTC Exodus to be built with blockchain technology

HTC has announced that the upcoming Exodus smartphone will be a blockchain smartphone, with a Universal Wallet for cryptocurrencies built in. More on that in a previous article here.

3. Crypto-island

Ever wanted to just leave it all behind, go live on a small island under no government, with its own cryptocurrency? Well, in 2022 you can!

There's fascinating story here on CNBC about 'The Floating Island Project'.

Key points:

  1. The Floating Island Project plans to create off-shore housing that uses its own currency and operates outside of government regulations.

  2. The project is a pilot program in partnership with the government of French Polynesia.

  3. A long-term vision for the project is hundreds of new countries floating on the ocean.

More on this one here.

OK, that's your round-up for this week. Come back next Friday for another brief look at the biggest announcements and market movements in the world of cryptocurrency.