A relatively flat week for the three major cryptocurrencies Bitcoin, Ethereum, and Ripple's XRP. Canaccord Genuity Managing Director Michael Graham explains the latest trends in the market and his outlook for the year ahead. Graham cites increased regulation in South Korea and China as driving prices down from all-time highs. "For the last couple week's we've been sort-of recovering from all that," explains Graham. This week Coincheck confirmed it suffered what appears to be the biggest hack in cryptocurrency. The Japanese exchange says around tokens worth $533 million dollars were taken from the exchanges digital wallets. "I think the fact that the crypto markets are being resilient in the face of the biggest hack ever potentially for crypto exchanges is pretty interesting," said Graham. Bitcoin still trading far from its all-time high around $20,000. Today, Bitcoin trading about 12 percent down from last week. Ethereum hovering just over $1,000, down about 6 percent over the course of the last week.

Share:
More In Business
Being Prepared For a Layoff In an Uncertain Job Market
With inflationary woes and fears of recession sweeping the U.S., January has racked up the second most job cuts since the start of the pandemic. While losing a job can be daunting, there are steps employees can take to prepare for an uncertain future in their current positions.
Steps to Take if You're Laid Off
Julie Bauke, president and chief career strategist of The Bauke Group, joined Cheddar News to discuss what workers should do if they're laid off.
Load More