This is our weekly blog going through all
major news that happened during the previous week. In the crypto world
sometimes a week can seem as long as a year. So many things can happen, and it
can be hard to keep track of everything; last week this was not really the
case, but here is a list of the main things that happened.
Price last week: $6200
Price this week: $6600, Up 6.5%
The price is back in the $6600 range after
spending most of the week hovering around (and slightly under) $6000. There are
many speculations about what made the price move, but there are no major events
that seem to be the single cause of the price movement.
Andreessen Horowitz $300 Million Cryptocurrency Fund
Venture capital firm Andreessen Horowitz launched a $300 million fund to invest in Bitcoin and other cryptocurrencies.
The fund claims it will invest in non
speculative use cases which can promote adoption, eventually getting to the level
of hundreds of millions of people and eventually billions of people.
The company is not new to the cryptocurrency game; it previously had invested in Coinbase and the Ethereum
Lightning Network Adoption
The lightning network, the second layer
solution for scaling Bitcoin has now over 30 bitcoin in it. The network was
officially launched in January and the size of the network has been increasing
since; the size of the network has tripled in just the last 3 months.
We expect the size of the network to continue growing as more places start
accepting Lightning payments, and more apps are created to take advantages of
the cheap transactions.