Nicolás Maduro offered Putin to execute all international payments in Petro cryptocurrency. See more in the analytical report

Analytical report of the Golden Island private club We present to you the report filed by the analysts of our private club for December 3–9, 2018.

1. Key market events in the period for December 3–9, 2018

1. Digital Currency Group (DCG) owns — partially or fully — 81 crypto companies, including Coinbase, Ledger, Etherscan, Kraken and Graysсale. Half of DCG itself is owned by MasterCard, DCG is also a partner of Nasdaq. A rather peculiar old yet new financial establishment.
2. The complexity of Bitcoin mining decreased by 15%. This is the biggest drop in complexity since November 2011.
3. Switzerland: The state regulator (FINMA) has proposed a license that would allow the blockchain and crypto start-ups to receive deposits of up to $100 million.
4. South Korea accounts for 30% of global cryptocurrency transactions, and 30% of the population here already owns cryptocurrency.
5. Study (Diar): Ethereum whale reserves increased by 80%. France, Italy, Cyprus, Malta, Portugal, Greece and Spain signed a protocol on the joint promotion of blockchain technologies.
6. The geographical distribution of traders on popular cryptoexchanges: USA (30%), Russia (15%) and China (11%).
7. World banks and financial organizations openly invest in cryptocurrencies or create assets for their clients. Among them are Silvergate Bank, Morgan Stanley, Sberbank, Metropolitan Bank, Fidelity, State Street and many others.
8. Nasdaq: The Vice President Joseph Christinat confirmed the exchange would issue Bitcoin futures early next year.
9. Coinbase provided customers with the ability to withdraw funds through PayPal without fees (of course, this applies to verified users only).
10. Facebook is also announcing the “most used product in crypto”. TON’s success is haunting them. Everyone wants a share of the future.
11. Ethereum developers have reached agreement regarding the block number to be used for deploying Constantinople update. Block 7,080,000 was chosen for a hardfork. According to the Parity release manager Afri Shedon, the block will be mined from 14 to 18 January.
12. According to the former JPMorgan top manager Alex Gurevich, Bitcoin will continue to evolve despite fluctuations; the cryptocurrency will become digital gold.
13. Bank giants integrated IBM blockchain into Goldman Sachs and Morgan Stanley –these are the first companies to use the recently launched blockchain-based CLSNet. Six more participants from North America, Europe and Asia, including Bank of China (Hong Kong), have pledged to join in the upcoming months, according to CLS and IBM.
14. CoinShares report says that 77.6% of the electricity for mining bitcoins is currently generated from renewable energy sources.
15. Lightning Network capacity over the past three months in bitcoins and dollars. Since the second half of November, the network cap has grown threefold.
16. In 2018, Grayscale’s Bitcoin Investment Trust bought bitcoins each month until it became the largest institutional holder, owning 203,000 BTC or about 1% of all coins in turnover.
17. Digital Currency Group (DCG) owns — partially or fully — 81 crypto companies, including Coinbase, Ledger, Etherscan, Kraken and Graysсale. Half of DCG itself is owned by MasterCard, DCG is also a partner of Nasdaq. A rather peculiar old yet new financial establishment.
18. Poloniex added accounts for institutional investors.
19. Nicolás Maduro suggested that Putin conduct international payments in Petro cryptocurrency.

2. Market analytics from club experts for December 3–9, 2018

The last week was somewhat unusual — we saw the decline from the very beginning, but this time the rate never even bothered to bounce back by end of the week. At the beginning of the weekend, crypto investors had cheap BTC and even cheaper altcoins.

The total capitalization of the crypto market dropped from $136 billion to $108 billion by Friday, then dropped again to $104 billion by Saturday, and then it struggled to climb to $116 billion. Trading volumes reached about $13–15 billion a day the entire week, briefly peaking to $19 billion. The BTC maintained a dynamic balance between 53% and 58%. On Monday, the price for 1 BTC was $4,140, but it lost more than $800 over the week, falling to $3,300, and by the end of the week it climbed a bit to reach $3,620. Given the ETF review, which was postponed until February 2019 (although the analysts predicted this delay in August), sentiments about the end of the crypto market and BTC entering the death spiral began gaining momentum. We observe ever more news and articles about “How I did not become a millionaire.” Some teams have reported a shortage of funds, despite raising millions. But all these critics either deliberately “forget” or do not really understand that cryptocurrency is not only about speculation on the stock exchanges. This is a breakthrough technology. This is a huge industry with determined needs and consumers. These are governments and large financial groups, snatching up everything they can for cheap. Moreover, the price of BTC and other altcoins does not reflect the most revolutionary essence of the blockchain and the decisions based on it. If some investors started thinking about selling their assets and leaving the market, believe us: soon everyone who got rid of cryptocurrency will regret this decision!

3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period from December 3–9, 2018

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4. TOP-3 growing coins from the long-term portfolio for December 3–9, 2018 (including portfolio updates)

We saw the correction for the altcoins during the last week. Top 3 coins: Waves + 6.89% (continued last week trend), Byteball GByte + 2.11% (distribution to holders), Aragon ANT + 2.06% (scheduled updates).

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