The cryptocurrency space has yielded mixed results in the past week. According to data from Coinmarketcap, industry leading btcoin has moved up and down throughout the week but essentially evened out its performance, with a current price of just under $6,400 as of this writing. Ethereum, one of the more beleaguered digital tokens, has ended the week back below $300, experiencing some of its lowest values in about a year in the process. Other tokens fell throughout the week but posted noteworthy gains at the end of the week, including ripple, bitcoin cash, and EOS.
One of the most significant headlines of the week involved Bitmain, the cryptocurrency mining chip maker. Bitmain is reportedly filing for an IPO to raise about $18 billion in public markets. The valuation of the Chinese company is as high as $50 billion. However, there are reasons that investors may want to avoid rushing into a Bitmain investment; news has also emerged that the company may be sitting on a massive, highly illiquid stake of bitcoin cash which could ultimately pose a sizable risk to IPO investors.
Bitcoin Gains 51% Market Share
Bitcoin has long been the dominant cryptocurrency in an ever-expanding field. This week marked an important milestone, though, when BTC became the majority of the cryptocurrency market. As of this week, and thanks in part to declines in altcoins across the board, bitcoin has at least a 51% market share for the total cryptocurrency space. Part of this could be a residual bonus effect from NYSE parent company Intercontinental Exchange's announcement earlier this month that it would launch a new trading platform including bitcoin futures contracts. Bitcoin has also experienced an influx of investor funds thanks to the recent struggles of the Turkish Lira.
Crypto Feature Film in Post-Production
"Crypto," a feature film starring Alexis Bledel and Kurt Russell, is reportedly in post-production. Yale Productions, the producers of the film, anticipate a release date for sometime in 2019. The film "tells a classic crime thriller set against the backdrop of shady cryptocurrency dealings," involving an anti-money-laundering agent in a remote part of New York state.