We present to you the report filed by the analysts of our private club for October 22–28.
Main market events for October 22–28, 2018
1) Bakkt will be launched on December 12 if the regulators grant the permission.
2) Internal sources of the CBOE exchange claim that approval of Bitcoin ETF is inevitable. According to the SEC, VanEck, SolidX and CBOE resolved all the issues and it is only a matter of time before the new asset class is approved.
3) The Department of Financial Services (DFS) of New York has permitted Coinbase to develop Custody. The Bank of Japan admits that the bank may lose a lot of influence due to emergence of cryptocurrencies. $500m worth of USDT have been destroyed (burned) by Tether.
4) The Central Election Commission of Russia supported the initiative of the Party of Growth to run elections in Russia on blockchain, which would prevent doctoring of the results.
5) In June 2019, the Financial Action Task Force on Money Laundering (FATF) will start publishing its standards for international regulation of cryptocurrencies.
6) The British audit and consulting company Ernst & Young (EY) conducted a study on the efficiency of 110 ICO projects: only 1 out of 10 tokens managed to bring profit to their owners.
7) Constantinople — the hard fork of Ethereum network — is delayed until the beginning of 2019. The developers made this decision after discovering several bugs when launching the update in the test network.
8) Visa will launch a digital identification system on the B2B Connect blockchain in early 2019. The system would tokenize private information that ensures secure international transactions.
9) The Swiss online bank Swissquote now enables purchasing ICO tokens. You can buy them through an online bank account. Acquired tokens will be stored in a special wallet.
10) HTC has presented the first iteration of the blockchain smartphone Exodus 1 in Berlin. The smartphone is expected to go on sale in 34 countries this December. The device will cost 0.15 BTC or 4.78 ETH.
11) Blockchain platform for distributing video content TaTaTu, which raised $585 million during the ICO, signed an agreement with Johnny Depp. The actor’s film company Infinitum Nihil would produce movies and digital content for TaTaTu.
12) Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov explained that absence of the concepts of “mining” and “bitcoin” in the draft law “On digital financial assets” hints to a “sad” future for cryptocurrencies.
13) The Japan Association of Virtual Currency Exchanges (JVCEA) received the right to self-regulation from the country’s main regulator, the Japan Financial Services Agency (FSA).
14) The Taiwan Financial Supervision Commission will simplify the procedure for launching ICOs in the country and fully legalize them.
15) Tether Limited burned 500 million USDT tokens. The company once again noted that any USDT owner could redeem their tokens with real US dollars that secure the cryptocurrency.
16) The branch of the China International Economic and Trade Arbitration Commission in Shenzhen decreed that the ownership of bitcoins in China should be considered legal.
17) The Ministry of Finance prohibited the British Royal Mint to issue the Royal Mint Gold (RMG) cryptocurrency, backed by gold.
18) Ripple published a financial report for the third quarter of 2018: sales of XRP tokens increased more than twofold and generated revenue of $163.33 million.
19) While the major stock indexes collapsed, Bitcoin continued to stand its ground. This refutes the widespread claims that the price of Bitcoin correlates with traditional finances. It’s worth noting that the current collapse of the US stock market is one of the biggest in recent years. The fall in the Nasdaq technology index, which dropped by 4.43% over the day, was especially disheartening. This is the biggest fall since August 2011.
20) The number of Google search requests for the word “Bitcoin” decreased by 93% compared to last December. This is quite natural, because back then the price of Bitcoin reached its peak.
2. Market analysis from club experts for October 22–28, 2018
The last week was hardly surprising for crypto traders and investors. Volatility, pumps/dumps, despair and enthusiasm — all the usual stuff.
Compared to the stock market though, the waves of the crypto market begin to look pale sometimes. The total capitalization remained in the $208–211 billion corridor for the entire week, despite the worries.
Trading volumes were also fairly stable: $9–11 billion. BTC dominated the market at 54% without deviations, although the Altcoins performed very good.
In the end of the week, the price for 1 BTC remained the same: $6480 on Monday and Sunday, though it fluctuated between $6380 and $6540 ($6478 at the time of the report) during the week.
However, the last week showed a strong growth of a number of coins, despite the price of BTC, and many coins skyrocketed from the levels below TOP100 CMC. Last week the stock market experienced a rather sharp fall, and according to reports, a number of stocks have incomparably higher volatility than many coins from TOP100.
The general sentiment makes it clear that cryptographic market is gaining increasingly more attention of institutional traders and very soon trading instruments will be available through a single terminal in any market.
In the meantime, the blockchain technology and cryptocurrency are gaining momentum in the world, and that’s great!
Though some cypherpunks are not happy about this!
3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period of October 22–28, 2018
https://i.redd.it/91fmpru2t5v11.jpg
4. TOP-3 growing coins from the long-term portfolio for October 22–28, 2018 (including portfolio updates)
The fastest growing portfolio coins:
IOTeX + 50% (), Neblio NEBL + 40% (), Decred DCR + 15% (listing on Binance). The worst performing coin is Mysterium MYST -28% — correction of the growth during the last week.
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