7 January 2019 / #42
SUMMARY
- The total Crypto Market grew by almost 33% and overall volume has spiked by 80% since the 17th December 2018. [BTC] is up by 7.6%, Ethereum is up by 14.9%, XRP is up by 4.9%, and EOS is up by 10%. The best performers among top-40 crypto were Litecoin (26%), Tron (20%) and Cardano (18.7%).
- 2018 SEC Recap
- New York Forms Crypto Task Force
- Facebook Works on Stablecoin
- Chinese Miners in Delay with IPO
- GMO Quits Manufacturing of Miners
- Italy Forms Blockchain Group
- Tether has Sufficient Accounts According to Bloomberg
- DX.Exchange to Digitize US Stocks Market
- Tokenized Securities on EOS Blockchain
- Tokensoft Partners with Coinbase for Security Token Custody
MARKET MOMENTUM
Since our latest edition (17th Dec), digital assets have bounced from the yearly lows of $104 billion back up to $146 billion on 24th Dec, representing a 40% spike in the total crypto market cap. From the beginning of 2019, digital assets were ranging around the $130 billion mark, until yesterday’s break out from an ascending triangle which resulted in a 5% gain, pushing the total crypto market price towards $138 billion. Volume has been bouncing in the $10 to $24 billion range, with almost $18 billion recorded this morning. dominance has fallen by 3.5% to 51.5%, with the price tag back above the $4,000 level, a 25% increase since the level seen 3 weeks ago. Ether is back as the second largest asset with an 80% gain since our last update, and is currently sitting at $156. XRP, the third largest asset is up 27.5% at $0.37.
Figure 1. The performance and market capitalisation of top-30 (by MktCap)
Figure 2. Worst performing digital assets* with Market Cap (7 days)
Figure 3. Best performing digital assets with Makret Cap (7 days)
Figure 4. Top-30 digital assets
REGULATORY NEWS
Two Congressmen Want to Exclude Crypto from Securities Law
The Taxonomy Act, by congressmen Darren Soto and Warren Davidson, would look to exclude from securities laws.
Brought 90 Crypto Cases over The Past 2 Years
According to a report from the WSJ, the and state regulators more than 90 crypto-related cases over the past 2 years, which resulted in the recovery of $36 million of investor money.
FCA Opened 67 Inquiries into Projects
As of 12th November, the UK’s Financial Conduct Authority has inquiries into 67 crypto firms of which 49 have been closed, leaving 18 businesses under investigation.
New York Forms Crypto Task Force
New York State is a task force to study and technology in order to provide proposals on how the state may best regulate, define and utilize as well as providing general overviews of the space.
2018 Recap
Law firm Perkins Coie have a comprehensive recap of the busy year at the .
CRYPTO MARKET NEWS
NKB 2018 Recap
A quick of the key events we saw in 2018 as well as our expectations and outlook for 2019, by Ben Sebley and Jamie Farquhar from the NKB team.
Facebook Works on Stablecoin for WhatsApp Transfers
Facebook is a stablecoin which will let users transfer money on its WhatsApp messaging app, initially focusing on the remittance market in India, according to Bloomberg.
Chinese Miners in Delay with IPO
Due to the general market conditions in 2018, the Hong Kong Stock Exchange is to approve the IPO applications of Chinese equipment manufacturers.
Tether has Sufficient Accounts According to Bloomberg
According to a report by Bloomberg, controversial stable coin Tether is most likely backed by equivalent USD deposits.
Over 4,800 Pump & Dump Schemes Identified
Researchers from the University of New Mexico have over 4,800 pump and dump schemes from and Discord channels over a six month period in 2018.
Bitfinex Launches Margin for Tether
exchange Bitfinex has margin for the USDT/USD pair, which will enable its users to hedge the exposure taken on stablecoins.
Additional 2 Million were Found in BTCP
Crypto analytics platform CoinMetrics, has an additional 2 million ($3.9 million) were secretly minted to claim a total supply of 20.4 million. The Private team has confirmed this and is currently investigating whether additional coins were transferred to an exchange or used elsewhere.
GMO Quits Manufacturing of Miners
Japanese internet company GMO will develop, manufacture and sell machines after extraordinary losses of $218 million in Q4 2018.
and Trezor Weak Spots Exploited
Researchers from wallet.fail a series of attacks against hardware wallets Trezor and , showing that even hardware can be compromised.
Italy Forms Group
The Italian Ministry of Economic Development has together 30 experts to develop the nation’s strategy.
WSJ Reports ICO Plagiarism
The Wall Street Journal has 3,300 ICOs and found that 16% of them showed signs of plagiarism.
Past Weeks in Funding
Lightning payments platform OpenNode raised from Draper Associates; DCG and Peter Thiel are backing Layer1 crypto fund with ; STO issuance operator Abacus raises from YC and ; Nomics, crypto data firm, raised from DCG, and others in Series A round; raise for Bakkt; and Waves raised to roll-out a private version of its .
SECURITY TOKEN NEWS
Tokensoft Partners with to Offer Security Custody
Security Offering platform Tokensoft a partnership with to provide a custodial solution for its clients.
Tokeny Launches T-REX Standart
Tokenization platform Tokeny officially open source security standard T-Rex, a for regulated exchanges designed to allow issuance and in a compliant manner.
Medici Ventures Buys 29% Stake Using for Transfer
A subsidiary of overstock.com, Medici Ventures, has a 29% stake in Chainstone Labs via a $3.6 million security transfer on Ravencoin . Chainstone Labs is focusing on custodial and management services in the security space.
Issuance and Primetrust Partnership
Another security issuer, Issuance, has a new partnership with crypto custodial firm Prime Trust.
STO Global-X Releases STGX
Singapore-based STO Global-X is an end-to-end security platform, STGX, designed for the issuance, management and of security .
Tokenized Securities on
The first tokenized securities protocol called Financial Securities Protocol is to the in order to “realize high throughput scalable financial applications”.
DX.Exchange to Digitize US Stocks Market
Estonian-based crypto startup DX.Exchange, is a platform allowing its clients to purchase 1:1 backed real world stocks, entitling them to the dividends that the stocks are worth. The EU regulated platform is initially offering tokenized shares of Google, Apple, Amazon, Facebook, Microsoft, Tesla and other tech companies.
Published at Mon, 07 Jan 2019 20:14:20 +0000
