The Weekly Burst Report is a report published every Sunday meant to centralize and describe the major Burst events that happened during the week.
- “The PoCC team is busy and buried under loads of work”, according to Rico666, a PoC Consortium member.
- The PoC Consortium confirmed that work on the iOS version of their mobile wallet is underway, but no release date have been given so far.
- They seems to be also working on the internationalization of the mobile wallet: I would expect new languages and currencies support soon.
- The Burst wiki website at https://burstwiki.org/ is quickly becoming the go-to source of information for the Burst community. The pace at which information is added is breathtaking. For example, we now have a full Burst API with a list of examples.
- The Danish community can enjoy a new local website at http://burstcoin.dk/ where you can find guides, a forum and more.
- The official website burst-coin.org is having problems today but work is underway to fix it. We apologize for the downtime and any inconvenience it may cause.
- @falconCoin has developed a Burst web miner that allows you to leave your browser open and earn some burst over night or on your device (still in Beta phase).
Analysis by @Goodplanets
Burst’s current price is 182 Satoshi with a high for the week of 220 Sats and a low of 170 Sats. A change of -9.17% since last week. Burst weekly trading volume was 435.42 BTC across Poloniex and Bittrex combined. At the moment 1,000 BURST equals $8.34 USD.
This week Burst has likely seen the brunt of the Bitcoin bull market as BTC has risen to $4440.00 and BURST has found strong support at around 175 satoshi.
As trend lines converge look for price action either up or down. Continuation of the downtrend seems likely to slow however a possible break out on the upside is entirely possible as descending volume is seen in the trading community as a bullish sign. If a continuation of the downtrend proves itself I’ll be looking for support at 175 satoshi and again at 150 satoshi.
Burst’s blockchain this week averaged over 4568 new transactions a day with at a total of 31,975 new transactions and 524 new wallets generated this week.
Burst’s market cap today is roughly 3,292 Bitcoin with an estimated network size of 120,568 Terabytes which brings the Cap to Terabyte metric to about $121.54/TB which is a 4.1% increase from last week which is very good sign in my opinion.
Despite Burst’s downtrend I still give it a positive report as it seems there is strong support at around 175 Satoshi and below along with signs of a potential reversal emerge. This week may witness the deciding factor between a continuation or a reversal of the Burst market. Zooming out on the Burst chart one can see that sharp upward moving price action followed by protracted downtrends are all part of the Burst market cycle.
As stated before, we would love seeing more community members working actively on Burst. More people could contribute with simple things like offering translations of existing services or writing for the Burst wiki. However, the number of people joining Burst is growing everyday and we expect this trend to continue exponentially. Stay tuned in for next week as I expect a few announcements to be made.
Thank you and see you next week,
Tom Créance (@Gadrah)
PS: if I forgot something in that report, PM me on any forum and I will make sure to mention it next week.