Crypto World in Review: Taking in the Good with the Bad

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Crypto World in Review: Taking in the Good with the Bad

A lot happened in the cryptocurrency industry this week, and we can expect only to see more buzz. For now, here’s an overview of what’s been going down in the crypto world.

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Coinbase Offers ZCash Trading

First off, you can now trade Zcash (ZEC) on U.S.- based Coinbase exchange. While customers in the United Kingdom or New York are currently exempt from the extra trading pairs, others can now buy, sell, send, receive and store the extra trading pairs on Coinbase, which is one of the United States’s largest crypto exchanges. On the news, ZCash, which ranks 19 in terms of market capitalization, dropped 11% to 2-week lows on Wednesday. Quite odd since this was a big deal for the ZEC traders.

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Major U.S. Hospital to Use Blockchain

Talking about big deals, Massachusetts General Hospital (MGH), one of the top five hospitals in the US, is partnering with Korean blockchain startup MediBloc to find better ways to store and share patient data. Finally, something good happening in the U.S. health system.

Crypto Lending Services Launching in Australia

On the other side of the world, in the land down under, a new crypto lending services startup is launching on Australian shores. Helio Lending, the first of its kind in the Kangaroo land, claims to be in the position to offer 50% more spending power to clients than they would have by holding on to their crypto assets. It’s not all good news though in the crypto world.

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Consensys Considers Downsizing

As the crypto winter hits the markets hard, some companies like Ethereum incubator, ConsenSys are considering downsizing. As I covered previously, Ethereum cofounder and ConsenSys CEO, Joseph Lubin, has said he’s planning to restructure the company to protect it against the recent downturn in cryptocurrencies. Consider this as something like using a stop loss on a losing trade. You gotta do what you’ve gotta do to survive the bear market.

Now I’d like to hear from you. Which cryptos do you think will survive the digital winter? How soon do you think spring will arrive? Let me know in the comments, and subscribe to get more updates. Remember that as the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio.

Don’t forget to complete your risk management due-diligence before developing your investment strategy.

Invest responsibly,