The cryptocurrency market was stable during the previous week. Despite various discussions regarding the regulations related to this type of assets, especially the ones linked to Ethereum, the second cryptocurrency on the market according to the market capitalization, the cryptocurrency market in general was not affected.
The prices of the majority of the cryptocurrencies on the market went up between Thursday, May 3rd and Saturday, May 5th. Similar tendency was observed in the previous weeks as well, with the majority of the prices going up around Friday.
Bitcoin, the world’s most popular cryptocurrency, reached the price of 9,958 dollars per coin on May 5th. On the same day, the price of Ethereum reached the value of 783 dollars per coin and four out of five cryptocurrencies on the list also reached their weekly maximum on May 5th.
Cyber Miles is a blockchain platform that allows the creation of smart contracts for the companies operating online and simple integration of the blockchain technology into their platforms.
During the last week, the price of Cyber Miles rose by 42% and its price went from 0.236 dollars per coin to 0.327 dollars. The market capitalization of this cryptocurrency rose by almost 58 million dollars to almost 208 million dollars. Cyber Miles reached its highest price last week on May 5th. The maximum price was 0.367 dollars and the market capitalization surpassed 230 million dollars.
Even though the development team behind Cyber Miles had not made any important announcement during the previous week, the cryptocurrency was mentioned recently by a cryptocurrency news portal, which could have attracted the attention of the investors.
Loom Network is a platform that integrates the blockchain technology into the online video games industry and the applications for social networks. During the last week, the price of this cryptocurrency rose by 61% and went from 0.336 dollars to 0.540 dollars per coin. At the same time, its market capitalization rose from 185 to 311 million dollars.
This growth occurred because Loom Network was listed on Binance, one of the largest cryptocurrency exchanges in the world. Moreover, Loom Network formed an alliance with TrustWallet to optimize the user experience when it comes to the decentralized apps.
Polymath is a blockchain platform that offers a new way of raising money by connecting the traditional ways with the cryptocurrencies. With Polymath, shareholders become token holders. In the last week, the price of this cryptocurrency rose by 67%, going from 0.513 dollars to 0.855 dollars per coin. The market capitalization of Polymath went from around 123 million dollars to more than 200 million dollars.
Just like Cyber Miles, the reason for the growth of Polymath can be found in the fact that it was mentioned in an article on a portal specialized in cryptocurrency investments.
Wayki Chain is a blockchain developed in Hong Kong that allows the creation of application through its platform. In the previous week, the value of this cryptocurrency rose by 70% to 2.65 dollars per coin. The market capitalization of Wayki Chain is being tracked since last week and it reached almost 380 million dollars.
This cryptocurrency was listed on the cryptocurrency exchange Qbtc.com, which increased its price. Moreover, the team behind Wayki Chain organized a competition in which 88 gold bars of 2 grams each will be distributed, which also contributed to the popularity of the cryptocurrency and increased its price. The investors who perform exchanges using Wayki Chain have the opportunity to win the gold bars.
All Sports is a blockchain platform that brings this innovative technology to the world of sports. The value of All Sports increased by 277% in the last week despite the fact there weren’t any important announcements from the development team behind this cryptocurrency. On the other hand, two important names from the sports world (their names have not been announced yet) became ambassadors of All Sports, which probably influenced the price of this cryptocurrency.
The discussions about the regulations regarding the cryptocurrency world do not have the negative impact they were having during the first months of this year. However, it is a problem the keeps repeating and it will continue until the regulatory entities do not understand the true nature of the cryptocurrencies.