Another week has passed in the crypto space. Interesting headlines filled the news, although crypto’s largest asset remained indecisive in its path forward.
Bitcoin price aside, this week hosted several interesting bits of news. Check out the details:
2018 bitcoin transaction volume beats out PayPal
The beginning of this week showed a report from Satoshi Capital Research on the state of bitcoin transactions in 2018.
Last year, bitcoin users transacted over $3.3 trillion in bitcoin, beating PayPal. That is a significant number of transactions, especially considering the bear market that plagued most of 2018.
According to an r/Bitcoin Reddit forum, however, several commenters expressed the $3.3 trillion figure to be misleading, considering the allegedly large number of trading and investing related transactions.
Although, such a high number of transactions, regardless of purpose, still may indicate bitcoin interest, in spite of the bear market.
News double: airdrop goes awry and Cryptopia hack details released
Tuesday brought news of an airdrop mixup, as well as further details on the sizeable Cryptopia hack that occurred earlier this month.
According to CoinDesk and CoinDesk Korea, the Coinzest exchange sent customers bitcoin and other assets instead of We Game Tokens (WGT), the asset the exchange intended to airdrop. The snafu reportedly resulted from computer and server difficulties.
In regards to the Cryptopia hack, Elementus posted a report highlighting several additional details. According to the entity’s research, about $15 million in stolen assets still remains at large, hosted in two wallets.
The World Economic Forum weighs in on bitcoin’s future
This week also kicked off the annual World Economic Forum (WEF) in Davos Switzerland. Several notable personalities came out with comments on the crypto space.
CNBC provided details on BCG Digital Ventures founder Jeff Schumacher’s comments that bitcoin is headed to zero. “I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything,” Schumacher posited.
According to Yahoo Finance UK, Harvard Thomas D. Cabot Public Policy and Economics professor Ken Rogoff said, “I think the possibility of a cryptocurrency taking over fiat money — like dollars and pounds — is basically zero. In the history of currency, the private sector advanced everything.”
Inversely, Nasdaq president and CEO Adena Friedman made a few positive assertions on the crypto space in her recent article posted just before the WEF. “The invention itself [cryptocurrency] is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy,” she wrote.
Another blow for bitcoin ETFs as CBOE withdraws VanEck application
A tough bit of news also hit this week as the crypto market found out it must wait even longer for a bitcoin exchange-traded fund (ETF). The Chicago Board Options Exchange (CBOE) removed its listing application for the highly-anticipated VanEck-SolidX bitcoin ETF product.
A separate article from Crypto Insider revealed the U.S. government shutdown might have contributed to the listing application withdrawal.
Crypto Insider also covered several other interesting topics this week, including an interview with Fluffy Pony and Cayle Sharrock, as well as a look at the Ledger Nano S crypto hardware wallet. Additionally, Crypto Insider took a deep dive into Richard Heart and his questionable Bitcoin Hex project.