Cryptocurrencies rallied steadily through the last 7 days and are poised to post their best trading week of 2019 as the broad market added USD$13.9bn in market capitalization. The price of Bitcoin (BTC) has appreciated more than 10% since last Friday’s end of day to trade just below the USD$4,000 price level – early Friday morning, the price of BTC briefly traded above USD$4,000/coin. EOS was the top performer among major cryptocurrencies this week, soaring 37% since last Friday’s end of day to USD$3.96.
In cryptocurrency news this week, CoinDesk reportedly obtained documents indicating that crypto venture firm Pantera Capital’s most recent fund, set to close in March, has raised USD$125mm thus far. In August 2018, however, CNBC reported that the fund had already raised USD$100mm, implying that Pantera Capital has raised just USD$25mm over the last 6 months. Also this week in crypto news, Brian Quintenz, a commissioner at the US Commodity and Futures Commission (CFTC), suggested the creation of a self-regulating crypto industry group in the US. Finally, a Samsung press release details that the soon-to-be-released Galaxy S10 smartphone will include a storage feature for private cryptocurrency keys, along with other crypto-oriented features.