Cryptocurrency Highlights Of The Week

TeraExchange unveils first U.S.-regulated Bitcoin swaps exchange and Dogecoin is continuing its upward trend. Here are the cryptocurrency highlights of week 37:

  1. The Bank of England appears to consider Bitcoin a threat to financial stability of the U.K. should its popularity take off. At the same time, the Bank argues that this is not likely to happen given the inherent volatility in cryptocurrencies.
  2. TeraExchange has unveiled the first U.S.-regulated Bitcoin Swaps exchange. Financial derivatives such as Swaps are an important addition to the cryptocurrency ecosystem, as regulated derivatives trading will help smoothing out some of the extreme price volatility in Bitcoin. It seems the Bank of England forgot to include this, as its report only mention derivatives as a tool for creating leveraged positions.
  3. One of the most popular cryptocurrency wallet providers, Coinbase, has announced it will open its doors to European customers in 13 counties. These 13 countries are said to include 60 percent of the European Union’s GDP, and consist of: Italy, Spain, France, Belgium, the Netherlands, Austria, Cyprus, Finland, Greece, Latvia, Malta, Portugal, and Slovakia.
  4. AuxPow has finally gone live for Dogecoin. The change was announced several weeks ago, and allows for merged mining with the Litecoin network. The Dogecoin network hashrate has immediately increased from around 60 GH/s to more than 600 GH/s.
  5. For Dogecoin, the hashrate is not the only thing that is going up. The coin experienced another good week, and saw its total market value increased from $19 million to $21 million. The last time the digital currency was valued at this amount was nearly two months ago.
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