The biggest change in the history of Bitcoin is looming. On Aug 1, Bitcoin will split into two currencies: Bitcoin and Bitcoin Cash. Bitcoin Cash is garnering some support, and will be available on major exchanges.
After three years of fighting, Bitcoin has now finally agreed how to scale up their network, with Bitcoin Improvement Proposal 91 winning support from enough miners to lock in to the network, though support for SegWit is still contested, as shown here. BIP 91 became active at block 477120 on July 23, offering a path to SegWit without splitting Bitcoin into two incompatible currencies. One splinter group called Bitcoin Cash is still agitating for a hard fork, but it is not clear how much miner support they will get.
The bubble in the cryptocurrency market seems to finally be deflating. Last week, Ether and Bitcoin hit their lowest prices since May, according to data from coinmarketcap.com. Although the market showed significant growth on Wednesday, every other day of the week saw significant falls in market values. The total market capitalization of all cryptocurrencies is now around $60 billion, approximately half of what it was.
Ethereum released their report for the second quarter of 2017. The report details research and steering meetings, and the development of Metropolis, Mist, Web3.js, and other software the Ethereum Foundation is working on.
Cryptocurrency markets experienced a huge downturn on Monday, June 26, with $20 billion of market capitalization vanishing within 24 hours, according to data from coinmarketcap.com. The market recovered somewhat on Tuesday, and more lustily on Wednesday. By the end of the week it was quite healthy, with over $0.1 trillion of market cap.
The cryptocurrency market boom of the past three months seemed to be cooling off somewhat last week, though market capitalizations are still very high compared to historic levels, with the combined value of all cryptocurrencies comfortable over $0.1 trillion, according to data from coinmarketcap.com. Saturday saw a significant drop in prices. One exception is Litecoin, which gained 44 percent on Monday, reaching an all-time high over $52 USD.
The cryptocurrency market had a crash on June 14-15, losing about $20 billion in value in a day, with most major coins experiencing double-digit falls. It picked back up the next day, and is now back to $110 billion total market cap.