This Week In Cryptocurrency: Friday, August 31

Solid as a Rock

We had a relatively good week in the market, all things considered. The entire market was in the green over the week-long period, growing by about 7%. It looks like we may finally be at the end of the bear market. But, we’ll have to see a few more weeks like this before saying for certain.

So, in the meantime, we won’t hold our breath. 

Bitcoin grew by a healthy 5.86% this week, leading the pack of the top three coins.

Ethereum just barely eeked out a positive week with a 0.31% gain.

XRP showed no real signs of movement either, finishing the week up 2.29%.

Domestic News  

Square Wins Big with Crypto Patent: The U.S. Trademark and Patent Office approved a patent application from Square this week for a new Point-of-Sale (POS) system. The cutting-edge POS would be a win-win for customers and vendors alike. With it, customers can pay using a variety of currency, including crypto, while merchants still receive the currency of their choice, even if it is just fiat (get with the times, merchants)

Even more, the patent outlines that cryptocurrency transactions through the POS are real-time, solving the previous issue of needing multiple confirmations for Bitcoin transactions, for example.

Yahoo Enters the Crypto Exchange Market (And Then Doesn’t): Keeping the crypto community on its toes, Yahoo suddenly launched support for the buying and selling of cryptocurrency without making an official announcement. But before you could say Satoshi the feature mysteriously disappeared.

Once actually launched, it appears as if Yahoo will allow you to trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, it’s unclear as to when that will be. A representative from Yahoo has yet to comment.

Famous People Saying Things

Elon Musk feels some FOMO: In response to the constant stream of bots impersonating him in Twitter scams, Musk tweeted out that he’d like some ETH at this point “even if it is a scam.” Whether this tweet is positive for the Ethereum community is debatable. On one hand, you’ve got a tech juggernaut publically stating that he’s picking up what you’re throwing down. On the other hand, he may not be doing it for the right reasons.