C’mon, Do Something…

We had a relatively uneventful week in the market, price-wise. The total market cap fell to a low of around $206B in the middle of the week before rising to $221.1B today – an overall loss of about 2% over the week timeframe.

This lack of price movement came on the heels of almost no significant news. So, we shouldn’t be that surprised. Although, on weeks like this, it’d be nice to see prices trend in the other direction. Let’s check in on the top three coins.

Bitcoin had the best week, only losing 1.01% of its value.

Ethereum continued its weekly price drops (albeit a much more bearable one) with a 1.60% loss.

After a phenomenal run last week, XRP finished this week as the big loser, posting a 3.83% price drop.

Cryptocurrency Market Stats (9/28/18)

Bye Bye Blockchain Ban: Oh happy day! Google announced this week that their blanket ban of cryptocurrency-related ads will end in October. The updated policy doesn’t mean it’ll be an advertising free-for-all, however. Advertisements for ICOs, wallets, and trading advice are still on the blacklist, and approved ads can only run in the United States and Japan. Following Facebook’s lead, crypto-related companies need to fill out an application to advertise their products or services.

Walmart Tells Suppliers, “Blockchain or Bust”: On Monday, Walmart informed partners that California-based produce suppliers need to join their supply chain blockchain system or lose their business. The move to blockchain produce tracking should help Walmart reduce the scope of recalls in cases of contamination. Walmart’s Vice President of Food Safety Frank Yiannas told reporters that Walmart has been piloting blockchain technology for two years, so the requirement “shouldn’t really come as a surprise.”

It’s likely that this requirement won’t stop with just produce either as Walmart’s pilots have been going well. Hopefully, other food-based supply chains will jump on board as well. Looking at you, Chipotle.