Earlier this week, the total market value of cryptocurrencies fell below $200 billion, but they have since begun to rise. Many in the industry see the upcoming week as being a key indicator of their true direction. Here is an overview of the top 5 cryptocurrencies this week: TRON TRON was the only cryptocurrency of any significant market value that did not fall. Experts believe that two pieces of news kept it afloat. First was an announcement from TRON CEO Justin Sun, who said that the currency would receive an upgrade that would make it 200 times faster than Ethereum and a 100 times cheaper than EOS. The other was a cryptic tweet from Sun about a future partnership. Bitcoin Bitcoin was not only hurt by the stock market sell-off, but it also received damage from 3 separate warnings about risk in the global cryptocurrency market from the IMF, economist Nouriel Roubini and Juniper Research. In spite of all this, Bitcoin had the second best week among all large digital currencies. Litecoin The big news for Litecoin this week was how the Gemini Exchange — run by the famed Winklevoss twins — had received regulatory approval to start trading the digital currency. Still, the currency has been in the midst of a downward trend since earlier this spring, though it has stabilized in the last few months. EOS EOS has been having problems with the Chinese market that are reportedly due to issues relating to language, culture and the use of multiple trading platforms. The issues have gotten so bad that EOS has developed the EOS Mandarin Arbitration Community to tackle them and create a cohesive worldwide platform. Cardano The Cardano Foundation this week was hit with demands that its chairman Michael Parsons resign. These demands came from Emurgo CEO Ken Kodama and Input Output Hong Kong founder Charles Hoskinson, who are unhappy not just with the performance of the digital currency, but also with the supposed unresponsiveness of the foundation. On the upside, there is talk that Coinbase may begin trading the currency.
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