We present to you the report filed by the analysts of our private club for November 5–11, 2018.
- The key market events in the period from November 5–11, 2018
The share of cryptocurrency is only 0.013% of the entire money volume in the world!
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The head of the financial regulatory authority of South Korea announced that cryptoexchanges that meet the requirements of KYC and AML are allowed to fully utilize the services of commercial banks to open virtual accounts. Earlier, following the results of the inspection, the authorities gave a green light to a number of Korean trading platforms and promised to lift the ban on ICO “in the near future.”
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Uzbekistan is creating an arbitration center to resolve blockchain disputes.
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Anatoly Aksakov: Russian stablecoin could become an equivalent of the ruble.
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The Russian branch of the leading cryptoexchange Huobi will be launched on November 12. This was announced on the Blockchain Life forum by the head of the representative office Andrey Grachev and the senior director of Huobi Global Edward Chen. The Russian office of Huobi will supervise the acceleration center for Russian blockchain projects, an educational program and the development of mining hotels.
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The new governors of five US states — Colorado, California, Wyoming, Texas and Rhode Island — stated they support cryptocurrencies.
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The Ethereum-development team led by Vlad Zamfir published a draft of white papers for Casper technology, which should provide scaling for the Ethereum network by switching to PoS.
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The SEC will compile the guidelines in “simplified English” for ICO organizers. In particular, the guidelines would explain the criteria by which tokens can be defined as securities.
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The Central Bank of China aims to ban airdrops. The bank believes that airdrops are used by Chinese crypto companies in order to covertly launch forbidden ICOs.
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Mining pool BTCC Pool Limited is shutting down. All servers will be disabled on November 15, and the unit itself will be closed on November 30. All mined currencies will be paid to miners in due time.
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BBVA, a large banking group from Spain, issued a $150 million syndicated loan on the Ethereum blockchain.
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The SWIFT global payment system has denied rumors that it would employ the Ripple xRapid payment solution.
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A 56-year-old American crypto millionaire will build a city, which runs on the blockchain in the desert in Nevada. The founder of Blockchains L.L.S. Jeffrey Burns bought 271 square kilometers of land at the beginning of the year. Apple, Tesla and Google hubs are located around the site. Burns has already invested roughly $300 million of his own funds and has hired 70 employees, according to The New York Times.
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Kraken Exchange turned out to be the most reliable exchange according to the new rating of Bitcoin exchanges, which was compiled by Group-IB and the CryptoIns IT platform.
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The government has prepared new rules for verifying user ID in instant messengers. Now they could be used only by the person who owns the assigned phone number.
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Iran is ready to launch a national cryptocurrency due to disconnection from SWIFT
2. Market analytics from club experts for November 5–11, 2018
The last week was ambiguous, which happens a lot in the crypto world, putting people on the edge. The active and optimistic growth faded by the middle of the week and then started falling gradually with a slight stagnation as the end of the week.
The total capitalization of the crypto market grew from $209 billion on Monday to $220 billion on Wednesday, and then, as expected, bounced back to almost the same value — $209–211 billion.
The trading volume for the entire week week was slightly larger than the previous weeks: $14–15 billion, peaking at $17 billion
BTC dominated the market at 51–53% all week without any drastic changes.
The price for 1 BTC dropped slightly by the end of the week: the Monday price of $6475 dropped to $6540 and climbed back to $6370 on Sunday — the value observed during the week before last.
Altcoins, both profitable and not in terms of fundamental analysis, paraded through the first half of the week, boasting explosive growth, though the second half made us recall the previous months of continuous decline with rare occasions of growth.
The crypto world is being torn apart by contradictions. Many put their hope on the launch of Bakkt and unanimous approval of ETF by various foundations, pre-fork (!) BCHABC temporarily exceeded the price of a parent chain on the Poloniex exchange, cryptocommunities experience all ranges of emotional spectrum: hysteria and panic, composure and confidence, aggression and depression. However, we hope that you have chosen the light side and calmly expect the start of a new wave, which is as inevitable as the Sun rising in the morning.
3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period from November 5–11, 2018
https://i.redd.it/wramywlm6xx11.jpg
4. TOP-3 growing coins from the long-term portfolio for November 5–11, 2018 (including portfolio updates)
The fastest growing portfolio coins: QuarkChain QKC +25% (a number of meetups), Mediblock MED +14% (collaboration with a large medical institution), Elastic XEL (a major update) и Stellar XLM +13% (updates, airdrop, expected listing on Coinbase). The worst performing coin (quite surprising, right?) is NKN -26% — the leader of the last week.
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