Cryptocurrency Highlights Of The Week

U.S. government completes Bitcoin auction and Dogecoin is still the number two cryptocurrency despite difficulties. Here are the cryptocurrency highlights of week 26:

  • The U.S. Marshals Service has completed the auction of 30,000 Bitcoins seized from online drug market placePreview Silk Road. The winning bidders will be notified in the coming week. The auction seems to be priced in by the markets by now. Bitcoin prices have hardly moved compared to one week ago.
  • Turbulent times for Dogecoin. A company called UltraPRO is trying to trademark “Doge.” The potential consequences of this for Dogecoin are still unclear, but it is feared that it could affect merchants selling Doge-related merchandise and merchants accepting Dogecoin.
  • The unrest also sparked a public argument between Moolah CEO Alex Green and Dogecoin co-founder Jackson Palmer. The latter ended up announcing his departure from the Dogecoin community, calling it “sadly cult-like.”
  • The trademark mess just adds to Dogecoin’s other difficulties, causing it to experience a very rough week. The price of Dogecoin has declined by more than 18 percent in just seven days.
  • Despite everything, Dogecoin is still ranked the number two most popular cryptocurrency according to CoinGecko. Litecoin follows in third position, although at a considerable distance.
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