We present to you the report filed by the analysts of our private club for October 29- November 4.
Key market events in the period from October 29 to November 4, 2018
1) On October 31, 2008, someone under the nickname Satoshi Nakamoto sent a letter to several hundred crypto-enthusiasts from a private e-mail list. Bitcoin turned 10!
2) Payments in Lightning Network will be available in Microsoft Excel. This week, Bitcoin developer and director of consulting company Bitcoin Advisory Pierre Rochard announced the launch of a plug-in for Microsoft Excel, which would enable Lightning Network transactions directly from the application.
3) Zcash team has announced the activation of Sapling hardfork.
And now all users will finally be able to use private Zcash addresses.
4) Rosfinmonitoring will regulate the crypto-industry in Russia according to the recommendations of the Financial Action Task Force (FATF).
5) Belgian investment company NXMH bought a controlling stake in the European crypto-exchange Bitstamp. A change of ownership will not affect the company’s policy, representatives said.
6) Russia was ranked first in trading volume on LocalBitcoins over the past week with $15.27 million, which is 26.5% of the total amount. Venezuela was second in the rating, USA was ranked third.
7) Berkshire Hathaway holding, headed by bitcoin opponent billionaire Warren Buffett, started investing in fintech and blockchain startups. Over the past few months, he has invested about $600 million in StoneCo Ltd.’s Brazilian payment service and the blockchain startup Paytm from India.
8) The Alrosa diamond mining group will use the Tracr blockchain by De Beers to track the diamond shipments.
9) JPMorgan Chase financial holding is aiming to tokenize gold bars with its own blockchain Quorum.
10) In South Korea, a court made a ruling in favor of a crypto company and declared the unilateral withdrawal by the Nonghyup bank from cooperation with Coinis cryptotocompany illegal.
11) Fujitsu company, together with nine Japanese banks, will develop a settlement blockchain, where payments will be made using cryptocurrency.
12) Coinbase capitalization reached $8 billion after the company raised $300 million during the E Series funding. Head of the Financial Services Commission of South Korea Choi Jong-ku announced that local crypto-exchanges are allowed to open electronic accounts in banks throughout the country. The developer of the basic Ethereum standard for most ICOs wants to create “reversible ICOs”, during which investors can recover their assets at any stage of the process.
13) Bank of America has patented a service for the secure storage of cryptographic keys and digital currencies.
14) Tether Limited has confirmed its collaboration with Deltec Bank & Trust Limited (“Deltec”), a financial institution headquartered in the Commonwealth of the Bahamas. At the end of the business day on October 31, 2018, the monetary value of the Tether account reached $1,831,322,828 (current capitalization is $ 1.9 billion).
15) The Financial Services Authority of New York has issued a state license (BitLicense) for Coinsource — a bitcoin ATM machine operator in Texas.
Coinsource became the 12th company with a similar license. In the first half of 2019, the South Korean stock exchange Bithumb and the American fintech company seriesOne will launch a platform in the US for trading security tokens.
16) IDEX Exchange officially recognized itself as non-decentralized, and now its users will be required to pass a mandatory ID verification.
17) According to the Financial Times, the world’s largest audit companies hire experts on the blockchain and cryptocurrencies to start providing their services to the crypto-community.
2. Market analytics from club experts for October 29 — November 4, 2018
The last week has seen some rapid changes in the market. The beginning of the week was marked by a strong fall in capitalization with an increase in trading volumes, and the beginning of the calendar month was marked by almost “pumped” growth with a further smooth return to the values of the early week. Thus, the total capitalization dropped from $209 billion on Monday to $202–203 billion, and then bounced back to the same value — $209 billion. The trading volume remained stable the entire week: $10–11 billion. BTC dominated the market at 54%, dropping to 52% by the end of the week. The price for 1 BTC for the week remained the same: $6492 on Monday with minimum at $6330, and maximum at $6470 right after that. On Sunday the price dropped to $6300, however, at the time of the report, there was quite an active growth that did not affect the statistical sites ($6478 at the time of report) — just like the end of last week. The last week picked up the trend of the previous one — a number of altcoins showed excellent results in terms of growth. Given the lack of updates from ETF, major news and listings have become the main driving force. BitcoinCash, despite lack of recognition from a number of crypto-activists, was able to seriously affect the capitalization and the price of a number of basic cryptocurrencies. The change of trend is yet to be observed. And it’s too early to say that cryptospring is coming. However, the crypto market was able to adapt to the relative stability of the BTC price. And this is the evidence of its gradual maturation and, if it continues further, it would result in decrease in correlations. Now is the time to think about your place in the approaching cryptostorm. Maybe it’s a good idea to save more “cryptofunds” in order to be at the top of the wave at the right moment, and not at the bottom, being dragged down by the fiat currencies!
3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period from October 29 to November 4, 2018
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4. TOP-3 growing coins from the long-term portfolio for October 29 — November 4th, 2018 (including portfolio updates) The fastest growing portfolio coins: NKN + 41% (big network update), BAT% (listing on Coinbase), WaBi + 14% (big network updates for real use). The worst performing coin is IOTeX -13% — correction of the growth during the last week
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