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The price of bitcoin appreciated nearly 4% for the week ending 27th May, but the figure is perhaps not indicative of the wild trading action the market saw during the period. Such movements came as market observers are becoming more interested in the relationship between bitcoin and ether.
Amid a vibrant public debate, digital currency exchange operator Kraken has announced it will begin trading tokens representing voting rights in the world’s largest decentralized autonomous organization, The DAO. Trading will officially launch at 12:00 UTC on Saturday.
The parent company of Swedish bitcoin mine operator KnCMiner has declared bankruptcy. KnCGroup, which owns KnCMiner and a number of other subsidiaries, has entered receivership after filing for voluntary bankruptcy in Swedish court, the company said.
Bitcoin prices surged more than 5% in the early hours of 27th May to reach a more than six-month high. The $479 price was the highest total seen on the CoinDesk USD Bitcoin Price Index since November 2015, and comes as traders are quickly closing short positions, according to market observers.
More than 15 members of Congress met with representatives of the blockchain technology industry this week in Washington, DC. The roundtable is part of a series of events planned by the Chamber of Digital Commerce, founded in 2014 with the goal of advancing policy on digital currencies and blockchain tech.
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