Weekly Recap: BTC Rally Fizzles on Bailout, More Money for Blockchain Tech

During what was again a relatively quiet summer week for digital currency, a(nother) dramatic last-minute deal to save Greece from exiting the euro zone was clinched, putting an end to the speculative buying in bitcoin.

Bitcoin prices closed the week down by 4.5% at $279, their worst week since late January. They again failed to carry momentum past $300, frustrating investors hoping that the Greece crisis would yield the perfect opportunity for a major comeback.

Litecoin continued its wild ride, shedding 26% to $3.88 as its unexpected price bubble continues to deflate.

Investor interest in Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology continued to steadily gather momentum. Factom, a startup looking to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term the blockchain to build an 'immutable data layer' for decentralized records, achieved its $1 million crowdfunding goal. ShoCard, which aims to enable the digital embedding of IDs in the blockchain, got $1.5 million. Investment in the blockchain space was the only variety in the industry during the period.

Conversely, Bitcoin as a currency continued its bumpy ride, its role for criminal activity in the spotlight. Drug Enforcement Administration (DEA) agent Carl Force was ordered to forfeit close to $500,000 from unlawful gains made during the Silk Road investigation and other bitcoin-related crimes. Bitcoin-powered malware marketplace Darkode was shuttered in a global crackdown on cybercrime, resulting in the arrests of at least 28. In addition, a Spain-based digital currency Ponzi scheme was broken up, resulting in the arrests of 20.

North Carolina's Senate Committee approved a bill that would regulate virtual currencies as part of the state's Money Transmitters Act.